Securing an ecigarette merchant account to be able to sell e-cig and vape online is not an easy process unless you partner with a reliable high risk credit card processor. As a merchant in this space, you will find that many acquiring banks steer clear of this industry type. The risk of fraud and chargebacks associated with online businesses as well as this sector put e cigarette merchant accounts in the hard-to-place category. Luckily, there are a few credit card processors that accept vape and e-cig merchants. High risk payment processors understand that vaping has become a huge trend in many parts of the world, resulting in large demand and plenty of purchasing customers.
Although it is viewed as a modern invention, its roots can be traced to Ancient Egypt. Back then, the use of vape herbs and hot stones were common vaping techniques. Additionally, the first shisha was introduced thousands of years ago in India.
The origins of the vaping techniques that we know now came from Joseph Robinson who devised it in 1927. However, Herbert Gilbert was the first person who invented the smokeless cigarette that did not use tobacco. It was then when vaping became quite well known.
Still, it was in 2004 when Hon Lik made the very first modern e-cigarette. Hon Lik, a Chinese pharmacist, invented the vape that we all know today.
The vape industry is thriving. Despite the problems with lawful restrictions, e-cigarettes remain a huge hit all over the world. There is a significant increase in the number of vape and e-cigarette users.
The e-cigarette industry is growing steadily and has generated over $3.6 billion last year in the U.S. alone. The top three biggest markets are Japan, the UK, and the US. Those who use vape in these countries had spent a total amount of nearly $16.3 billion in 2016.
There are many fans of vaping in the world, as well as those who are curious about the smokeless cigarette. When done right, you can have a profitable business out of it. The problem with selling e-cigs is that most credit card processors make it difficult to obtain a vape merchant account.
It can take several weeks to months just to get approved. Most of the time, you will get denied your application. You will end up needing to delay your transactions, which can cause bigger problems for your business. You need a reliable vape payment processor that will give you a vape and ecigarette merchant account without any hassle.
The first two reasons already make it difficult to find the right vape credit card processor. Additional underwriting knowledge is required and there are many other procedures involved. The credit card company is usually not prepared to provide such a service.
Meanwhile, since it has become a political issue, sponsor banks and credit card processors believe that the costs outweigh the benefits. For this reason alone, they do not want to accept any application from vape merchants.
The problems related to accepting payments from your customers may make you think this business is not for you. However, there is a great opportunity ahead of you. You need to enlist the help of a reliable vape payment processor. The good news is PaymentCloud is exactly what you are looking for.
While banks, along with Stripe, Square, and other traditional credit card processors will not approve your application, PaymentCloud will help keep your business going. Ever since our inception, we have been providing e-cig merchant accounts for both vape and e-cigarette businesses.
We have built an extensive relationship with our clients and those who are already in the industry. It allows us to provide affordable electronic cigarette credit card processing that will help your business remain stable.
With other companies, you can have issues such as getting your account terminated because you are selling e-cigarettes, for instance. You will not have such problems with PaymentCloud. There are no payout freezes, which can hurt your business and its profitability.
PaymentCloud is the only vape payment processor you can trust. We have merchant services that are supported by different features, including:
When you apply for a vape merchant account with us, you can get a suitable payment processing solution based on your business and its requirements. We have different terminals that you can choose from, such as:
At PaymentCloud, we know you will have questions about the application process and beyond. So in order to get your business’ specific answers immediately, you will be assigned a dedicated account representative that will meet your individual needs. From start to finish, you will be able to reach out to them about any questions, issues, and concerns on your account.
With a majority of vape credit card processors in the hard to place space, the rates are incredibly high. But, this does not mean that you should simply accept it just because you are in the high risk industry. PaymentCloud offers competitive rates and free rate reviews that will help you save money.
If you want a reliable, full-service vape credit card processing account in order to sell ecig and vape online, contact PaymentCloud today.
Create an account instantly and start accepting payments. You can also contact us to design a custom package for your business.
From day one, Miles has been an overwhelming help to me in making sure I am making the best choices for building my business. His patience with me as he helped me step by step in submitting my application was so appreciated! …The team has been amazing across the board, and I truly cannot thank them enough!
I've been working with the folks at PaymentCloud for about two weeks now. They have made it super easy and they guide you through everything! Their customer service and support is awesome! I'm so glad that we connected with Michael S. and all the other folks at PaymentCloud. Highly recommend!
The agent who helped me to onboard was attentive and consistent throughout the process... They made sure I knew how to manage my accounts and had them properly set up and in compliance. They turned what could’ve been an intimidating process riddled with errors into a smooth transition for my business.