Are you having difficulty with your e-cigarette business? Are you facing troubles with so many chargebacks for being a high-risk business? No wonder e-cig is a high-risk business and at the same time one of the most prominent merchandise that is generating a good fortune as compared to any other industry. The industry is generating revenue of $3.5 billion all because of the rising popularity of e-juices, hookahs, and vaping. While smokers profoundly suggest that traditional cigarettes were more prone to health hazards as compared to e-cig. Whereas vaping is capturing the interest of non-smokers. Acc. to a survey conducted by the National Centre for Health Statistics, the survey report shows that 3.2% of the people who have never smoked a cigarette have tried e-cigs. e-Cigarette Merchant Account can help drive your merchandise to exponential growth and will secure all your payment transactions.
Since the industry is making so much profit, merchants are making more money from it. However, banks are still a hindrance to new and small businesses in the e-cig business in order to get their credit cave payment solutions. At this point in time we EskayPay as a reputed merchant account service provider extend our services to the high-risk merchants who are seeking payment processing solutions for their business.
We have profound experience in providing high-risk merchant account solution for businesses such as the Gaming Industry, Technical Support, Casino Merchants, E-cigarettes, and many other big or small size industries. It is recommended to get suggestions from the professionals who have profound experience in providing solutions to businesses. Vape Credit Card Processing will allow you to accept multiple currencies in favor of your business account.
Why a business needs an e-cig merchant account
Merchandise that is associated with high risk such as e-cig, vaporizers, hookahs, and other related products intend to require an e-cig merchant account. Banks or financial institution may not approve payment processing accounts for these merchants because of the high chargeback ratios.
High-Risk merchandise who want to accept payments through credit or debit cards needs to apply to a high-risk credit card processor, such as EskayPay. As a professional and expert in this field, we intend to provide dedicated high-quality customer service. We get along with the businesses so that we can understand them better and come across with the customized payment solution. The application for a payment processor gets approved in 5 to 7 business working days.
Advantages of Electronic Cigarette Credit Card Processing
Merchants associated with the high-risk industry have a particular requirement related to payment processing to ensure the functionality and longevity of their business account services. Since e-cig and vaporizer businesses are tagged under high-risk merchant account, they want to make sure they are opting a potential service a provider who has the potential to cope up with any changes to the legal or payment network and their strength to accept e-cig transactions.
Traders who have opted for an e-cig merchant account instead of a traditional the account they have the opportunity to integrate acquiring bank within their business account. An acquiring bank functions differently when integrated with the payment processor allows faster approval rates, instant authorization, higher monthly volume caps and fewer restrictions as compared to any other type of account or e-wallet for the payment transactions.
One more thing to keep in mind while opting for the e-cig merchant account company is the functionality of the business billing model because many times they offer 2 types. Getting in touch with a bank that can accompany both 1-time sales and subscription re-billing program that customers choose while joining can provide merchants with the liberty to offer different products or services without generating any problem to the payment processor.
Getting a payment processing company which has PCI DSS standard security will help you secure all your payment transactions. It also improves the authorization process provides extensive reporting and robust management features, while all these qualities show that you have a good service provider working with you.
Restrictions in getting an e-cig merchant account
The merchants who are associated with this business need to authenticate themselves to the credit card processor underwriters that they are running a legitimate business. Since an underwriter is an authority that decides whether the merchant is capable of getting a merchant account or not. He is the one that declines or accepts the application based on the risk assessment. Merchants need to validate their business to underwriters by providing valid disclosures and restrictions that can claim that the business they are running is legal.
When the authorized person reviews an application of industries such as vaping, cigarette, smoking, they ensure that the merchant is following all applicable laws supporting the business. They will also make sure that you are not marketing any of your product or services for marijuana or other illegal substances.
Reviewing of business also includes merchant’s credit scores, credit card processing history, bank statements, and its website. A website needs to be fully functional and working. It should also have trusted privacy and refund policies, as well as a secure (SSL). However, a bad credit score, unpaid bills, history of high chargebacks all these are considered negative points against a merchant.
We at EskayPay intend to provide the best e-cig merchant account in the industry to our merchants. We have our solid network relationship to ensure that cig companies can continue to grow their business with uninterrupted services. We intend to provide fast application process services so that merchant can be able to quick setups and start accepting payments from the customers. The merchant who is concerned about their high-risk business such as online gaming, Vaporization, Smoking, and other businesses can get in touch with us for any further assistance. We are here to help you no matter how big or small your business is we are ready to assist you at any point in time. e-Cigarettes Merchant Account can help you take your business to heights by providing smooth and flexible payment transactions to businesses.