If you’re operating a tobacco or cigar business, you may face difficulty obtaining a tobacco merchant account. At PaymentCloud, we proudly offer payment solutions to tobacco and cigar merchants!
A tobacco merchant account enables retailers to receive payments made with credit and debit cards for their products. However, opening a tobacco merchant account can be difficult due to the high-risk nature of the industry. At PaymentCloud, our representatives are experts in the tobacco industry and can assist you with obtaining a merchant account. Our payment solutions are personalized around your business’s specific needs and operations.
A tobacco merchant account enables retailers to receive payments made with credit and debit cards for their products. However, opening a tobacco merchant account can be difficult due to the high-risk nature of the industry. At PaymentCloud, our representatives are experts in the tobacco industry and can assist you with obtaining a merchant account. Our payment solutions are personalized around your business’s specific needs and operations.
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A combination of factors surrounding tobacco—such as health concerns, their addictive nature, and strong governmental regulations—make tobacco merchants a reputational risk in the eyes of financial institutions. Thankfully, PaymentCloud is a leader in connecting businesses with high-risk merchant accounts . Regardless of industry, we are committed to offering your business credit card processing.
As with any merchant account, underwriting requires basic information and documentation to assess the financial state of a company. These documents include:
Due to the difficulty of verifying many aspects of an online customer, the most restrictive payment processing method for tobacco retailers is eCommerce. Given the high probability of transaction fraud for online stores, eCommerce is subject to higher credit card processing fees from card brands and processors. However, PaymentCloud provides online payment solutions for eCommerce merchants in the tobacco industry at the most competitive rates available.
The lowest risk of all tobacco merchant accounts are retail merchant accounts. Card-present transactions are seen as less risky because they provide the added layer of security of the store clerk verifying the age and identification of the customer. Additionally, almost every type of tobacco sale for flavored vape pods is permitted in the retail environment. For retail merchants, you may choose between plenty of point-of-sale options for your retail tobacco business.
Manually-entered card transactions for tobacco products are subject to higher costs and the same shipment regulations as online transactions. With an over-the-phone or MOTO merchant account, PaymentCloud supplies your tobacco business with a payment gateway for additional security.
With so many external factors actively impacting the profitability of the tobacco industry, the wisest move is to set yourself up to reap the maximum amount of revenue. Accepting credit cards removes potential roadblocks so you can get more tobacco sales, whether you have an established or brand new business. Additionally, the ability to take cards grants your business access to the online marketplace, which vastly expands its potential customer base.
Our years of experience as a leader in the high-risk payments industry have given us the expertise necessary to streamline the application and underwriting process. Our knowledgeable account managers are at your service to help gather documents, provide answers, and advise on any questions that you may have, as well as provide real-life customer support should any issues arise with your account.
At PaymentCloud, we pair you with the payment solution offering the greatest support for your tobacco business’s needs. Each of our merchants processing payments develops a personalized solution that helps reduce risk and maintain dependable processing. Some of these solutions include:
Whether you'd like to provide your customers with recurring payment options, offer contactless and mobile payment solutions, or connect your payment solutions to your existing CRM software, PaymentCloud provides you with a seamless integration experience. We streamline this process with in-house procedures expediting the application process. And by customizing the payment processing application for each of our tobacco and cigar merchants, we can integrate solutions based on your specific needs.
If you’re ready to take your cigar business to the next level, PaymentCloud’s payment services are the perfect solution. Get in touch with our representatives today!
With a proud average of 4.8 stars across all review sites, PaymentCloud excels in solutions and support. But don’t take our word for it! Here’s what our merchants have to say: