E-cigarette Merchant Account Facilitates Fast And Smooth Transactions
E-cigarettes, e-cigs, or vaping is a fairly restricted industry, and as such, large banks and payment processors have regarded the industry as high-risk. However, the e-cig industry is not sufficiently large and there are not sufficient details easily available about how the industry functions. At WebPays we put time and effort into examining the e-cig & vape industry and the methods that merchants of online cigarettes manage to execute their online businesses. We’ve developed E-cigarette merchant accounts that are ready to suit the payment requirements of an industry. However, that is commonly brand new and augmented boost year after year.
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What do you understand about the e-cigarette industry?
Ecigs or online cigarettes are smoking products that deliver customers with essence identical to smoking. But without dangerous ingredients and chemicals such as nicotine, arsenic, and formaldehyde. Rather than tobacco, e-cigarettes include flavored fluids (generally called vape juice, e-juice, or e-liquid) that are evaporated and taken by the customer.
Why is the e-cigarette Industry comes in High-Risk?
Despite the fact that the liquids involved in e-cigarettes are not similar to comprise similar chemicals as cigarettes. And their use can be contentious because of the fact that the effects of long-term use are also not actually clear. This sets the door vastly open for multiple rules and regulations to increase in the coming years and decades as multiple conceivable health hazards are there. This is one cause that the large banks and primary payment processors are reluctant to deliver e-cigarette merchant accounts for eCig and vape businesses.
Moreover, with a lot of new merchants coming out of the frame to get their involvement in some of the revenue e-cigarettes are resuming to generate. So, a big part of the industry consists of unprofessional business merchants with fewer to no payment processing history. This alone may establish a business in the high-risk sector nevertheless of its specific industry.
What sort of risks are implicated in Acquiring Banks and Payment Processors?
When credit or debit transactions are processed, merchants basically get their funds within 1 to 2 business days. These funds are sent to the merchant account by the payment processing company. And which has accepted them from the merchant's standard bank. Even also the merchant will accept these funds almost instantly, the financial organization generally does not have the funds from the customer’s bank or credit card provider for up to 14 business days. At this time, these funds are regarded as a loan amount from the bank to the merchant. If for any cause the payment is not received by the customer’s bank or credit card provider or if a chargeback is begun after the fact. However, the bank then requires to try to recover these funds back from the merchant. Due to this procedure, merchants should have good credit history and an approving history of payment processing to get an e-cigarette payment gateway.
What are the problems in dealing with vaping and E-cigarettes online?
There are numerous people who prefer vaping across the globe, as well as those who are conscious of smokeless cigarettes. When accomplished correctly, you can have a prosperous business of them. The primary problem in dealing with E-cigarettes and vaping is that many credit card processors make it hard to get a vape merchant account.
It can take numerous weeks to months just to get approval. Most of the time, you will not get approval for your merchant account application. You will definitely require to postpone your online payments and that can bring large problems for your online cigarette business. You will require a secure and reliable vaping and E-cigarette payment processor. And that can deliver you a vape and E-cigarette merchant account without any problem.
Factors to consider when preferring an E-cigarette merchant account
As we all know, the e-cigarette industry is expanding globally. So, there are numerous merchant service providers that are ready to deliver merchant processing solutions. However, not every payment gateway provider engages to acquire all the payment solutions you need will be the most suitable option for your high-risk business.
Before finalizing a payment service provider, always ensure that they must offer the following factors as a part of their payment processing solutions.
- Honest and competitive fees
- Transparent pricing structure
- Consent to multiple currencies and online payment methods
- Compatible with primary payment gateways and shopping carts integration
- Easy and smooth payment gateway Integration with more than 100 CMS plugins
- Chargeback prevention tools and assistance
- eCheck transactions processing
- Fraud mitigation and advanced security feature
Why do e-cigarette businesses require merchant accounts for E-Cigarette?
WebPays serve precisely the requirements of merchants who function within businesses that function in the high-risk industry. We bring our time to comprehend the requirements of these outstanding industries and customize our merchant account solutions to the certain requirements of every business. We have examined the immense growth of the e-cig industry and have delivered numerous banking solutions and online cigarette merchants. However, that can fulfill certain requirements of e-cigarette & vape merchants. Our high-risk payment gateways assess competitive pricing structures and industry-leading merchant account solutions comprising fraud prevention, chargeback notifications, and ACH/e-check payment processing.
- Fraud Prevention Tools
WebPays delivers to all merchants our award-winning fraud prevention tools. These tools are available with easy-to-use payment gateway solutions and deliver merchants real-time fraud prevention measures. Merchants can compose filters to fit the requirements of their business and have the system reject payments that seem fraudulent or keep transactions awaiting further investigation.
- Chargeback Alerts
Chargebacks happen when online buyers ask for a payment to be flipped by their credit card provider. Chargebacks are demanded due to multiple causes. But most ordinary comprise not accepting products or services on time or at all, not being happy with products or services that have been bought, and regrettably, fraud. Fraudulent chargebacks are when a buyer asks for a chargeback unjustifiably to accept funds back on buys they have already performed.
Banks only enable merchants to acquire a small number of chargebacks on their accounts. If this number becomes too increased the bank may stuck or shut down the account. And quitting the merchant incompetent to process credit and debit card transactions.
With WebPays chargeback notifications, merchants will get reports in real time whenever a chargeback occurs on their accounts. This enables them to initiate the dispute procedure instantly and increases the opportunities that the chargeback will decline.
- ACH/E-Check Processing
eCommerce merchants, specifically, will profit from delivering their customers the opportunity to make online payments by ACH/eCheck. Receiving online payments can grow a merchant’s client base to those who do not have or do not want to pay by using their credit cards online.
- Association with multiple acquiring banks
Merchants who are regarded as high-risk is at a larger possibility of getting their merchant accounts blocked or shut. This is why WebPays has a wide network of global banks around the globe and offshore that are ready to function with high-risk businesses. Every high-risk merchant account Europe in the online cigarettes or eCig industry will comprise a minimum of four to five banks. Transactions will distribute in equal parts around all of these bank accounts from the first day the merchant account is open. And this will significantly decrease the merchant’s frontage and hence, decrease the risk of blocked or sealed bank accounts.
Acquiring an E-Cigarette Merchant Account with WebPays
Whether you are a leader in the cigarette industry or a newbie merchant exploring to get merchant account solutions. Then WebPays will be the perfect option for you. We have a 98% acceptance rate and have supported numerous merchants in your industry and other high-risk industries process their credit and debit card transactions for more than 20 years.
Applying for your E-cigarette merchant account is easy. Just fill out and complete our online secure application and enter the required documents relevant to your business. Our underwriting team will inspect your payment details and analyze your business structure. And then suggest the most suitable payment processing solution.
If everything is perfect and you are qualified to get approval for a merchant account. Then you will get a payment processing platform that is ready to take online payments within 48 hours of approval. With our E-cigarette merchant account, you will get the profit from all of these amazing benefits WebPays delivers, comprising:
- Low-cost payment processing fee
- Integrated fraud prevention features and notifications
- Association with multiple acquiring banks and global payment processing
- 24/7 customer and technical support
- Top-level security with merchant’s payment portal
- Chargeback protection and notification systems
- ACH/e-check payment processing
Why Prefer WebPays?
WebPays is a top leading high-risk merchant account Europe provider serving high-risk businesses with many years of expertise and association with numerous acquiring banks. Our high-risk payment processing solutions enable you to accept cross-border transactions without facing any complications. We have served various businesses in acquiring the best e-Cigarette merchant account with fair terms and at affordable prices. So, if you want to function your online business with our payment gateway solution. You can drop us a mail with your business details and payment requirements. We will assist you in a very short span in the best possible way.