Need A Merchant Account For Your e-Cig Business?
Are you planning to get an E-Cigarette credit card processing for yourself? Well, then waste no time anymore! Get in touch with eMerchant Authority’s professionals to guide you further on this matter and get your business payments going.
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Do You Know About E-Cig Merchant Accounts?
While you host an online platform, you need to find electronic cigarette solutions that best fit your business. But definitely, it goes without saying – it isn’t easy to find one!
E-Cigarette merchant accounts are believed to be high-risk and hence a tough job to find payment processing solutions. No doubt that the e-cig industry is smoking hot these days but also places itself into a gray area along with many other payment processing companies. The effective way to increase your market value within this million-dollar vaping industry is by improving your online presence.
eMerchant Authority offers you various options to make your e-cig merchant account and that too in less than 48 hours. Our experience in the e-cig industry enables us to understand the terms and conditions that are necessary for setting up an e-cig merchant account and effective payment processing. With our services across multiple industries, including tobacco shops, electronic cigarettes, and vape juice, we continue to offer our excellence in providing the best-paying processing solutions. We ensure that your business is financially stable and has genuine payment processing (accepting credit and debit card payments)
Use our fast application to get a custom tailored merchant account that fits your needs.
How Do e-Cigarette Businesses Work?
It isn’t easy for businesses in the e-cigarette industry to get credit card transactions processed just like that. For a long time to date, traditional banks consider the electronic cigarette industry and related businesses to be high-risk, therefore making it difficult for them to find reliable and affordable payment solutions.
Let’s take it this way; you have a smoke shop, and since you chose to go by alternative routes, you ended up with the wrong high-risk merchant account provider for your business. What awaits next? Well, because you were unable to avoid the odds of your merchant account being ceased, that is exactly your destination you will land in.
In this case, the financial institutions will close your vape merchant account services and seize your funds with no prior warnings. It leaves your business in a devastated state where you won’t be able to trade your products, and the cash flow stops. Additionally, your existing finances are also seized hold of by the bank until any further notice.
To keep away from such situations, you should choose an appropriate merchant service provider for your business. Click here to know further about high-risk merchant accounts.
E-Cig Merchant Account FAQs
Can eMerchant Authority Help Me With My Electronic Cigarette Merchant Account?
Of course, eMerchant Authority will facilitate your business with the best e-cig merchant account services. But, few things that need to be taken into account while selecting the right merchant service provider company are that they fulfill your credit card processing needs and support the E-Cigarette business. Since traditional banks deem high-risk business right away and support low-risk businesses, therefore, you will have to put in efforts to find companies like eMerchant Authority that presents you with the e-cig merchant accounts option.
Why Are E-Cigarettes High Risk?
The FDA ordinance and the escalating health concerns of e-cigarettes and vaping to minimizing access of these products to minors contribute a lot to why the e-cig industry is labeled as a high-risk business.
FDA provides that e-cigarette businesses are tobacco products retailers, and they’re only allowed to sell their products to people who are 18 years or older. Further, as an e-cigarette seller, you’re required to verify the photo IDs of buyers who are younger than 27 years.
Unfortunately, for most online e-cigarette shops, adhering to these regulations can be a bit tricky. Also, ecigarette merchant account providers need to offer additional oversight and have notable underwriting knowledge when dealing with high-risk industries like the vape business.
Other factors that make e-cigarettes businesses high risk include:
High chargebacks – if you run an online e-cigarette business, then you have a higher risk of getting customer-initiated chargebacks. Although chargebacks are common in most businesses, e-cigarette businesses run an increased risk of chargebacks as they use third parties to ship their products. This can lead to delivery and back-order issues that often result in chargebacks. Besides, online fraud is also common in this industry since most vape companies don’t have the necessary precautions to protect themselves from online scams.
Political reasons – Most credit card processors are unwilling to offer merchant services to e-cig and vape companies as most of these products are highly politicized. Most merchant services providers consider the risks these businesses pose too high, despite some of the electronic cigarette and vape businesses adhering to all the required federal regulations.
Therefore, when looking for an e-cigarette merchant account provider, you will have to explore for the best company options that deal with high-risk businesses, as well as are well-aware of the protocols required for opening up a vape merchant account.
How Do Companies Deal With High-Risk Business?
This is quite basic! Companies with a comprehensive understanding and years of experience in the e-cig industry, like eMerchant Authority, can get your business approved effortlessly.
While the conventional banks are limited to serve low-risk organizations, it is recommended for you not to waste any more of your time or invest your energy running against those banks for merchant account services. Instead, research the best go-to options and work with the company that believes in providing you with a consistent process of obtaining an e-cig merchant account.
Do High-Risk Businesses Lessen Your Chances to Get An E-Cig Merchant Account?
While many factors can negatively influence your business, the prime reason out of all is that traditional banks do not approve payment processing for high-risk businesses. Hence, you will have to look out for companies that work specifically with high-risk merchant accounts.
Wonder why it might be so? The answer is really simple! Traditional banks and payment processors such as PayPal, Square, and Square simply do not approve businesses that are regarded as high-risk, unlike those working in the electronic cigarette industry. Although it might sound like a big struggle for you, in reality, it isn’t. All you need to do is make conscious choices for a merchant service provider company that works closely with merchants in high-risk businesses.
What You Need To Get Your E Cigarette Merchant Account Approved
When looking for an electronic cigarette merchant account, it’s important to know what your provider will need to get the account approved.
Recent Bank Statements
Your merchant service provider will require you to provide proof of your financial history. This is often in the form of past bank statements. Such statements help the service provider get a good picture of where your business stands financially.
Proof that you’re following FDA regulations- Your merchant account service provider will want to know if your vape shop is abiding by FDA rules and regulations. You may need to provide valid disclosures, licenses, and permits that support your claim of running a legal e-cig business. The provider may also review your site to see if you’re marketing or selling illegal substances such as cannabis.
Credit History Statements
Another factor that you need to consider if you want to get approved for an e-cigarette merchant account is your credit history. You’ll be required to provide at least three months of your credit card processing statements to prove that you have an exemplary credit history.
Explanation of past chargebacks- In case you have had to deal with customer-initiated chargebacks in the past, it’s advisable that you be transparent about it. Let your e-commerce merchant provider know about the chargebacks and how you successfully dealt with them.
How Do e-Cigarette Businesses Work?
In a nutshell, traditional financial institutions do not deal with businesses that support electronic cigarettes, e-liquids, or require an e-cigarette merchant account because they consider it a risk to their reputation to be associated with such high-risk organizations.
If your business needs e-cig solutions, we can have you set up in as little as five(5) days. At eMerchant Authority, we keep things simple and transparent with our clients. With our aid, you can get your e-cigarette merchant account by starting the merchant account application above.
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WHY USE eMERCHANT AUTHORITY?
eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. We provide merchant account services for both low and high-risk businesses.
Our services are secure and reliable.
Besides, we understand just how financially difficult it is to become a business owner. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees.
Whether you’re a startup or an established business, you can count on us to provide you with a perfect merchant service solution with the latest hardware and software tools such as Clover systems that are perfect for your retail payment needs.
And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. Our 24/7 customer support team is always on call to answer your questions and attend to your needs.
Still interested?
Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority.
Merchant Account Experts
20+ Proven Bank Relationships
Medium/High-Risk Accounts
Fast Merchant Account Approval
E-Commerce & Retail Options
B2B Vendors Supported
Multiple Payment Solutions
Multiple E-Commerce Gateways
Chargeback Prevention
ACH, E-Check, Credit Cards
B2B Level 2/3 Data Discounts
3D Secure Frictionless Checkout
Mobile Payments
EMV Readers
Intuitive Technology & Support
Gateway Recurring Billing
Vault
E-Commerce Cart Plugins
POS/Terminals
International Merchant Accounts
Dedicated Account Managers