Vape & E-Cigarette Merchant Account
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.
Where Did Modern Vaping Come From?
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.
Why Sell Vape and E-Cigarettes with an E Cig Merchant Account
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.
The Problem with Selling Vape and E-Cigs Online
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 an vape and ecigarette merchant account without any hassle.
Credit card processors do not accept sellers of vape and e-cigs for a few reasons:
- The federal government regulates the sale of these products.
- E-cig and other related products have an age-restriction.
- E-cigs and vape products are now considered a political issue.
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.
How to Secure Electronic Cigarette Credit Card Processing
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 an 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:
1. Technology-Based Payment Solutions
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:
- EMV smart chip technology
- Countertop devices
- PIN pad
- Wireless technology
- Mobile processing apps and hardware
- Online payment gateways
- Tablet POS systems
2. Assigned Customer Service Representative
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.
4. Competitive Pricing
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.
Let us show you how easy it is to get started.
Contact us at 1-800-988-2215 or by filling out our simple online form