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Empowering Florida’s High-Compliance Merchants: WAAVE’s Response to the Changing Regulatory Landscape

The shifting regulatory landscape in Florida presents a unique challenge for merchants operating in alternative product markets such as CBD, hemp products, and kratom. WAAVE, created by Tech Entrepreneur, Silvana Carpaneli-Hayes, is gaining popularity for its commitment to ensuring compliance without compromising business continuity. The high-compliance payment processor has become a household name in the Sunshine State due to its innovative solutions that allow merchants in these sectors to navigate changes safely and with peace of mind.
Silvana Carpaneli-Hayes, CEO of WAAVE, began her journey in the payments arena in Singapore, spearheading mobile payments before they became mainstream. Upon returning to the US, she was driven by a desire to address the payment challenges of underbanked, high-compliance merchants. Carpaneli-Hayes realized that, due to disparities in regulations, these legitimate businesses were marginalized when seeking financial services.
A firm believer in empowering these under-banked merchants, Silvana envisioned WAAVE as a tool to legitimize businesses operating in the alternative product space. Her vision has been realized with WAAVE offering a high-compliance solution that sells peace of mind in addition to payment processing.”It’s not about payment processing; it’s about the perceived risk,” Carpaneli-Hayes said. “We needed a solution that protects the merchant, the buyer, and the financial institutions from inadvertently breaking the law.”Carpaneli-Hayes shares that her mission as CEO is to create a healthy ecosystem where merchants, buyers, and financial players can safely interact. This is especially relevant in an era when CBD is a $19B industry and Kratom, consumed daily by 15 million Americans, is a growing $1.2B segment. WAAVE’s innovative technology aids legitimate transactions and compliance without sacrificing economic vitality.
As a result, WAAVE has set a new standard in the world of high-risk payments. By utilizing a tech-first approach and leveraging over 35 data points, WAAVE monitors transactions in real time. It proactively blocks orders that infringe on regulations. WAAVE’s ability to swiftly adapt to changes in legislation is a key element of its success. For example, when Governor DeSantis signed into law the Kratom Consumer Protection Act, many financial institutions were hesitant on how to handle the new requirements.
In contrast, WAAVE swiftly implemented the necessary adjustments, ensuring continuity for its clients.”We move at the speed of regulation changes so our banking partners can confidently continue providing payment processing to our customers,” Carpaneli-Hayes added. This adaptability allows merchants to focus on growing their businesses instead of grappling with compliance complexities.WAAVE’s innovative solution earned it a spot as one of the “Top Ten Credit Card Processors” by the Financial Services Review in 2023. Not one to rest on her laurels, Carpaneli-Hayes continues to evolve the platform. Ultimately, she envisions it becoming a comprehensive tool that simplifies client operations and promotes seamless coordination between vendors and customers. Carpaneli-Hayes fervently believes that these businesses should benefit from the same level of service that other online businesses enjoy. And, ever attentive to their needs, WAAVE continues to develop new features based on vendor feedback.
With its relentless commitment to creating a safe, compliant, and legitimate ecosystem, WAAVE has ushered in a new era of high-compliance merchant operations. As the regulatory landscape continues to evolve, WAAVE’s mission remains clear: to ensure that rules are followed without impeding economic growth. Powered by WAAVE’s innovative, secure, and inclusive technology, Florida’s high-compliance merchants can confidently navigate the shifting regulatory waters.    

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