If you are in the e-cigarette and vaping product selling industry, then you probably have had a hard time obtaining a merchant account. Well, it is time to turn to iPayTotal and make it easier for you.
Ecigarettes, eCigs or vape are a relatively new industry, and as such, major banks and payment processors have tried the high risk industry. However, eCig industry is not big enough and there is not enough information readily available on how the industry works. A iPayTotal we have been slow in industry analysis and eCig vape and means that electronic cigarettes merchants tend to conduct their business. We supported merchant accounts that are designed to meet the needs of individual industry that is basically brand new and experienced exponential growth year after year.
What Ecig the industry?
The e-cigarette industry is more than the $ 3.5 billion industry and the rise thanks to the growing popularity of e-juice, hookahs and vaping. Ex-smokers have discovered electronic cigarettes as a healthier alternative to traditional tobacco cigarettes contain. Vaping also looks attractive for those who have never smoked a traditional cigarette.
According CDCsurvery, more than 9 million Americans used e-cigarettes / vape regularly at the end of 2015. This number continues to grow as the industry becomes more mainstream. This steady growth attracts newcomers to the industry every day. In fact, from 2017, there were more than 12,000 retail stores in the US sell electronic cigarettes or e-cigarette juice.E falls outside the scope of the national legislation on use of tobacco production and distribution still poses risksimilar more health than regular cigarettes according toexperts which is not good for health.
Why Ecig industry at high risk?
Banks that process the credit card processors and merchant service providers through are extremely sensitive to anything that could affect their public image. For this reason, any industry is considered "high risk" by the community providing merchant services, really becomes a high risk.
When credit companies such as Visa and American Express believe that working with certain types of retail harms their public image, they often withdraw support. It is a common phenomenon that affects tobacco vendors, distributors of alcohol, firearms dealersand course, retailers who sell and distribute supplies and equipment vaping.
The uncertainty of this industry, because it is still a new concept to the market and the government has not clarified the laws governing how electronic cigarettes and fried can be sold and consumed that scares many banks and processor.
Benefits of e-cigarette merchant account
E-cigarette merchants, and with companies that sell goods e-cigs are rarely approved for payment solutions by traditional banks. This is due to regulatory challenges and generally high chargeback ratios in the industry, making high risk "in the eyes of banks reluctant to provide traditional solutions.
Merchants in high-risk industries such as e-cigarettes should request an online payment solution provider as iPayTotal if they wish to sell credit card process. Register now and get approved in as little as 24-48 hours.
iPayTotal'sTailored Solutions for high-risk industries
Having trouble finding a reasonable vape merchant account for your e-commerce site? Need VAPE solutions? E-cigarettes are considered a high risk worldwide merchant account and credit card processing solutions can be very difficult to find. The vaping industry has boomed in an industry a billion dollars and the best way to increase your market share with an online presence. If you are looking for a way to accept payments by credit and debit card to your e cigarrette / business vaping, fill out an application and we will be in touch within 48 hours! IPayTotal e cigarette merchant accounts to improve the customer shopping experience and help increase your sales!
With iPayTotal, obtaining a merchant account for your high-risk e-cigarette and vaping business has never been this easy. We will help you build and grow your business without limitations and offer you customized payment services that adapt to your client’s needs. We even offer you advanced tools that can help you manage fraud and chargebacks issues with ease.