High Risk Merchant Accounts for Electronic Cigarettes
The Facts About Electronic Cigarette Merchant Accounts
- Why a business needs an e-cig merchant account?
- The differences between a e-cig merchant account and a low-risk account?
- What to expect during a e-cig merchant account application review?
About Electronic Cigarette Merchant Accounts
The e-cigarette industry is a more than $3.5 billion industry and rising thanks to the increased popularity of e-juices, hookahs, and vaping. Ex-smokers have found e-cigarettes to be a healthier alternative to traditional tobacco-containing cigarettes. Vaping also is attractive to those who have never smoked a traditional cigarette. According to the National Center for Health Statistics’ National Health Interview Survey released in October 2015, 3.2% who have never smoke cigarettes have tried an electronic cigarette.
There is no doubt that this industry is smoking hot, and entrepreneurs are taking advantage of it. However, banks don’t make it easy for new businesses and smaller businesses in the e-cig industry to get credit card transactions processed. Traditional financial institutions deem electronic cigarette and related businesses high risk, making it very difficult for them to get fair, cost-effective payment solutions. This is when SecureGlobalPay comes in with a solution as a responsible high-risk e-cig merchant account provider that serves businesses worldwide.
Specializing in high-risk merchant accounts for businesses, such as online and bricks-and-mortar e-cigarette, vaping, and smoking accessory shops, SecureGlobalPay customizes payment processing solutions for all types and sizes of companies. The suggestions here offer answers to the most commonly asked questions about obtaining and successfully maintaining an e-cig merchant account. To begin the process, apply today.
Why a business needs an e-cig merchant account
Businesses that sell electronic cigarettes, vaporizers, hookahs, and other related accessories need e-cig merchant accounts because traditional banks will not approve them. Due to ongoing regulatory changes and the high chargeback ratios, banks won’t approve accounts for these high-risk merchants.
E-cig merchants that want to accept credit cards need to apply to a high-risk credit card processor, such as SecureGlobalPay. As a high-risk merchant account provider, SecureGlobalPay specializes in e-cig merchant accounts. Dedicated to a high-quality of customer service, SecureGlobalPay works with businesses to get them the customized payment solution they need. Merchants can get approved in as little as 24 hours.