Electronic cigarette (e-cigarette) merchants operate in a high demand industry. Their brand of business also has a high risk classification. Merchants are classified as high risk for a variety of reasons. High charge backs and terminated accounts are two common ones. Business downturns are also common in the e-cigarette industry.
Adult websites, collection agencies, credit repair services, medical marijuana merchants, online firearm sales, penny auctions, ticket sales and vacation clubs are other industries in the high risk category. Specialized businesses like these usually require a high risk merchant account to do business. There are several online sources for high risk merchant accounts and payment processing services. The High Risk Guys, a Los Angeles based company, is one example.
An electronic cigarette merchant account is one of the hardest accounts to approve. Online businesses that sell e-cigarettes, e-juice and vaporizers often pay too much for merchant services when they are finally approved. High risk merchant accounts are affordable alternatives that help e-cigarette merchants achieve their business goals.
High risk merchant accounts provide all the necessary services a business needs to thrive online. They allow e-cigarette merchants to accept all major credit cards for customer orders. Online gateways with virtual terminals enable reliable card processing for a reasonable cost.
Most high risk merchant accounts integrate with hundreds of online shopping cards and a broad range of payment gateways. Electronic cigarette merchants can also apply for chargeback insurance. A small monthly premium ensures that customer refunds are paid by the merchant processor instead of the merchant’s account.
High risk merchant accounts usually operate on a subscription based business model. A recurring payment option makes payment easy for merchants, and it improves billing efficiency. It also reduces authorization declines and the administrative costs involved with manual billing.
Most online sources for high risk accounts provide e-commerce and merchant account services in the United States and other countries. Some target states that are most associated with high risk industries including California, Florida, Illinois, Nevada and New York. Electronic cigarette merchants have several options, and most companies will approve or deny an application within 48 hours.