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May 16th, 2017

Everything You Must Know About E-Cigarette Credit Card Processing

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Electronic cigarettes have become viable alternative to the usual smoking tobacco products. As a number of cities on United States have banned public smoking, more & more smokers are switching to e-cigarettes. Best part about them is their lower degree of toxins and carcinogens as compared to traditional tobacco.

High Risk Merchant Accounts for E-Cig purveyors

Increase in online purchases and advent of e-commerce have given merchants a good way to capitalize in this booming industry. However, getting merchant account for such companies is quite difficult. As it is a high-risk product, rates for the merchant account may be high. Talking about other reasons that make this industry high risk, they are:

•  Availability of fake products on the web

•  Disputed nature of the product

•  Substantial charge back history with illegitimate merchants

•  Lack of regulation and enforcement on the industry

Despite these reasons, there are ways to accept payments from MasterCard, Visa, American Express and Discover credit cards. Professional service providers team up with a range of reliable banks and offer customizable solutions for the business. Merchants are given access to pay terminals and latest POS systems to assure they get everything that’s needed to accept credit card payments in-store. In addition, solutions and tools that help in processing payments, preventing frauds and increasing revenues are also made available.

E-Cigarette Merchant Account Fees

For industry-affordable and competitive fees, choosing the right services providers is quite important. This is because staying away from risk factors and easy management of cash flow need in-depth & careful knowledge about the e-cigarette payment processing industry. After matching, the bank processes the application and determines the merchant account fees.
As banks determine the fees depending on case-by-case strategy, estimating the exact fees until the completion of underwriting process is quite impossible. However, the types of fees involved are:

•  Merchant Account Registration Fee

•  Merchant Account Fee

•  Discount Rate

•  Refund Fee

•  Chargeback Fee

•  Transaction Fee

•  Monthly Statement Fee

How Paycron Provides Painless Processing Experience?

It’s quite clear that e-cig industry is booming and provides immense potential to merchants in making incredible profits. Paycron ensures that the clients are well equipped to get the best in shortest time. Services available at us are:

•  Merchant Accounts (credit card processing)

•  Terminals

•  Point of Sale Equipment

•  ACH Processing (or Electronic Funds Transfer)

•  Wholesale, Retail, & e-commerce Processing Solutions

•  PCI Compliance

•  Check Processing

•  Virtual Terminals

•  Gift Card Programs

•  EMV Ready Platforms

•  Check Guarantee Services

•  Gateways

•  Wireless & Mobile Phone Payment Processing Services

•  Shopping Cart Integration

There are a multitude of benefits to enjoy a painless processing experience. Some of them are:

•  Assistance from knowledgeable, experienced and skilled payment processing experts

•  Live 24/7 Service & Support

•  Competitive cost payment processing

•  Fully customizable accounts

The Additional Benefits

With a merchant account, this business type becomes simple and manageable. Taking the services from an authorized seller lands up with better solutions and safety for the account. Check out some of the exceptional perks associated with having the right merchant account:

•  Opportunity to know about various options of e-cig

•  Intense knowledge about credit card processing for the industry

•  Devices that suit the needs –simple or disposable

•  Risk imposed in credit card processing

•  Right services that help the business earn increased productivity & profitability

The Crux
E-cigarette industry has turned into a legitimate business field with growing community of loyal customers. Merchants serving the community need online credit card processing for electronic cigarettes from professionals who won’t gouge them with undesirable terms on the contracts, hidden or excess fees, or avoid phone calls when the merchant has a concern. Though the high risk nature of vaping industry signifies higher rates, it doesn’t mean settling for exorbitant fees or lousy terms. Hence, partner with us for reasonable terms along with scope for growth in the coming years.

Contact us!


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