WAAVE Technologies

The legalization of cannabis ignited the start of a multi-billion dollar industry. However, due to complex legal stipulations and emerging restrictions imposed by financial institutions and regulatory entities, secure payment processing is nearly impossible for businesses offering CBD, cannabinoids, kratom, or cannabis seeds. This challenge goes beyond the cannabis sector and adversely affects every merchant providing heavily regulated alternative products.

A specialist in cashless payment processing, WAAVE Technologies provides innovative solutions designed to help high-risk alternative product merchants maintain holistic compliance across the sale and processing of products with complex regulatory requirements.

“Over the past 24 months, we’ve collaborated with many merchants who appreciated our trustworthy assurances and our commitment to transparent cloud compliance. This has allowed us to confidently differentiate between credible providers and those that lack credibility,” says Silvana Carpanelli-Hayes, CEO of WAAVE Technologies.

WAAVE’s core business is e-commerce, with most engagements supporting Card Not Present (CNP) transactions. In most cases, it streamlines ordering procedures and offers transaction management capabilities using mobile applications and other digital tools.

Providing much-needed assistance to numerous customers hindered by payment processing inefficiencies, WAAVE has made many notable achievements. Most clients approach the firm when they encounter difficulties due to the high costs associated with their products or the complexity of finding an acquiring bank or payment processor that understands the legality of their offerings.

Once they join WAAVE, businesses can reliably sell products conventionally considered ‘high-risk’ and solidify their revenue streams. Alternatively, the company acts as a primary processor, eliminating the need for multiple merchant accounts, streamlining operations, and enabling exponential expansion. WAAVE’s customers are known to achieve up to a three-time increase in their sales projections, which demonstrates the remarkable growth its platform can drive.

Backing these capabilities is WAAVE’s resolution center, which helps merchants manage their post-sales engagements and handle disputes or refund requests on their behalf, providing a structured process for managing and resolving consumer issues.

From a compliance standpoint, the company leverages WAAVECompliance, a three-part system designed to ensure compliance and legitimacy in online sales. The system includes a dedicated compliance management partner that facilitates a next-gen onboarding process. It also comprises a unique plug-in that verifies inventory compliance (on the website and in the cart) and monitors each transaction for compliance regarding card address and ship-to address.

Concurrently, the company’s team diligently stays up-to-date on the latest product regulations and promptly incorporates any necessary modifications, such as implementing ID verification and blocking transactions in prohibited states, while prioritizing transparency across all operational elements. This enables clients to maintain business continuity and avoid exorbitant Member Alert to Control High- Risk Merchants (MATCH) penalties for processing non-compliant transactions.

At the heart of WAAVE’s unmatched competencies is a team with extensive expertise in high-compliance payments. This proficiency enables the company to effectively communicate with clients and accurately comprehend the compliance mandates surrounding their products. Its team also fosters an educational journey where clients are educated on relevant regulations. This valuable support is crucial in growing their businesses and opening doors to explore additional verticals. Above all, WAAVE equips merchants with a protective shield against stringent regulations, which contributes to the longevity of their businesses.

Moving forward, WAAVE aims to continue understanding the unique growth paths of its clients and provide flexible solutions that adapt to their evolving needs. Its overarching mission is to turn the WAAVE platform into a solution capable of streamlining client operations and ensuring smooth coordination between vendors and customers.