Electronic cigarette and vape businesses need a solid high risk merchant services provider.
Customers have more confidence in lenders that accept multiple forms of payment. This can affect the overall profitability of the enterprise in the short term, but it can also affect the longevity of the business. The amount of risk is determined by lending institutions, and this can create a disadvantage for businesses that sell vaporizer devices, e-cigs and similar products.
This means that certain businesses have to turn to e-cig and vape merchant services in order to increase revenues through credit transactions.
This industry is growing rapidly based on the increase in the public’s use of these products.
As the campaign against the dangers of tobacco cigarettes increased, the e-cig industry started to be seen as a viable alternative.
For many of these businesses, it is necessary to accept the terms of a high-risk credit card provider. This solution will come with certain limits and restrictions, but they can be removed after a specified period of time.
The amount of time will often be a few months, and the merchant will be required to make a series of payments on time within this period in order to have the limitations removed. The merchant must also complete a series of transactions with credit cards in order to have additional restrictions removed.
This can include a cap on the amount of credit card payments that can be performed each month, and it could also include items like a rolling reserve.
The merchant might also have to work within funding limits until these conditions are met.
Electronic Cigarette Merchant Accounts
Electronic cigarette merchant accounts offer these businesses an alternative for financing and accepting credit card payments.
Businesses should consider obtaining an ecig merchant account in order to benefit without the need to rely on traditional lending institutions like banks.
This can help to improve the revenues and profits of the business because it encourages customers to make purchases that they might not make if the merchant only accepts cash.
The ability to accept credit card payments is necessary for most businesses in the modern economy.
The terms and conditions of the credit card processing company can affect the businesses in critical areas. Businesses must have a working relationship with a financial institution in order to receive these payments.
High interest rates and other processing fees can accompany the services of a high-risk provider. However, the ecig merchant account may cost slightly more than a low-risk account for merchants.
This is why it is important to consider the benefits in addition to the costs to see if this is the right solution for your business.
Merchant Accounts For Vape & eCig Businesses
Federal laws regulate this type of business, and the rules can affect the ability of the business to operate in the normal manner that customers expect.
An e-cig merchant account is often necessary in order to these businesses to become successful and profitable.
Banks and other financial institutions are put in a position where they have to decide if the risk of providing financial services to these businesses is greater than the potential benefits.
The laws and regulations that affect these businesses often change rapidly. This can happen in a short amount of time, and this leads many lenders to classify these types of businesses as high risk.
Obtaining the ability to process credit cards can make a huge impact on your business’s bottom line.
This is a serious issue for merchants who sell these products.
Banks and other lending institutions will often refuse to provide credit or other forms of financing to businesses that sell ecigs, accessories and related products.
Merchant accounts can be opened through an application process. This process is simple, and you can get a quote for the price once the application is complete.
This is a great way to get approval without being involved in excessive amounts of paperwork. In addition, there are no long waiting times, and it is not necessary to fax any of your documents.
This cuts down on the amount of time necessary to get started accepting new customers.
ECig & Vape Merchant Services
Customer support can be essential for smooth operations of your business.
Ecig & vape merchant services can be critical when you are dealing with charge-backs, delivery delays and problems with shippers. You should have a system that protects against charge-backs because too many of them can harm your relationship with the credit card processor.
A high charge-back rate will cause many credit card processing providers to abandon the merchant, and this can be a serious financial blow to your business.
However, the provider of the credit card service will be motivated by the need to protect their relationship with the lending institution.
Obtaining quality service for your account makes a huge difference in the outcome.
We are highly trained professionals who understand how to process paperwork efficiently and get you approved as soon as possible. Merchants can expect to get the highest quality of customer service when contacting our team.
Our experienced team handles a variety of issues related to the servicing of your account. We can help you to start accepting credit cards as soon as possible.