Vape Merchant Account Solutions
Having trouble finding a reasonable vape merchant account for your ecommerce website? E-Cigarettes are considered to be high risk in the online merchant account world and credit card processing solutions can be difficult to find. The vaping industry has propelled into a billion-dollar industry and the best way to expand your market share is with an online presence. PayKings has multiple options for you and makes it simple to obtain a vape merchant account in as little as 48 hours.
Not only are we are experienced, but we fully understand the requirements of the underwriting process for a vape merchant account and the unique needs that come with the industry standard for payment processing. PayKings can say with confidence that we are effectively able to service merchants in the eCigarette, e-juice, vape, and smoke shop industries with payment processing solutions. Our business is to help your business become financially sound when it comes to accepting debit and credit cards.
Here’s a Common Scenario
If you apply for a vape merchant account and need payment processing, let’s say you own a smoke shop, the banks will deem you as high risk right away because being associated with funding a business in the vape and eCig industry is a reputational risk.
In this scenario, you own an smoke shop but you did not take the proper route to ensure you had the right high risk merchant account for your business. So, what happens next? Well, because you didn’t avoid the chances of your merchant account being shut down, that’s exactly where you find yourself.
The bank closes your merchant account and holds your funds without any notice.
This means you now have no way of selling your products and all cash flow immediately stops – what’s worse, is that the money from the products you already sold are being held by the banks for the next few months. The only way to avoid this scenario, is to choose the right merchant, right from the get-go.
To learn more about high risk merchant accounts, click here.
Why Does this Matter and How Can PayKings Help?
When you apply for a vape merchant account there are a few things to consider about choosing the right company for your payment processing needs – and moreover, finding one that will support an electronic cigarette business. Because most traditional banks won’t fund businesses that aren’t considered to be low risk, you’ll have to find payment processing options through a company that offers vape merchant accounts. This is due to your business being categorized as high risk – and most banks pass on high risk merchant accounts right away.
Why is the vape industry considered to be high risk?
Well, this is largely in part to the heavy regulations implemented by the FDA and the rising concerns surrounding all things involved with eCigarettes and vaping from potential health issues to safeguarding minors from having access to these products. So, again, because your local Wells Fargo or Bank of America won’t go near your business with a 10 foot pole – you’re going to have to research your best options for finding a company that deals specifically with high risk businesses and who are experienced in accessing a vape merchant account.
What are the primary differences in working with companies that specialize in high risk merchant accounts?
It’s really quite simple. Companies with adequate knowledge and experience in this industry, like PayKings, can actually get you approved. For real, and the process for getting approved is really pretty simple. Leave the banks to deal with their “safe” low risk applicants, and don’t waste any of your any more of your time and energy getting the run around and jumping through hoops. When you work directly with a quality, reliable company that will make your access to payment processing a smooth and seamless one, you will feel confident when apply for your vape merchant account that you’re in good hands.
How Does Being High Risk Affect Your Business?
There are a few primary reasons this can affect your business – but the short answer is that you cannot get approved for payment processing through a traditional bank and you will need to instead go with a company that specializes in high risk merchant accounts.
Why is this? Well, the fact is that big banks and the mainstream payment processors like PayPal, Stripe, Square not allowing payment processing for high risk businesses like those who are in the vape merchant account industry. It can seem like this backs you against a wall and that your options are limited – that isn’t true, in fact, you just need to find a company, like PayKings, who work day in and day out with high risk merchants.
This is where PayKings Steps In
At the end of the day traditional banks won’t touch electronic cigarette, vape, glass (or other smoking products) businesses, and reaching out to them will prove to be an incredible waste of time because they cannot approve you for a vape merchant account.
At PayKings we like to keep things as simple as possible for you. Here’s what you can expect and how we can help get your vape merchant account accepting credit cards:
- Fill out an online application
- Submit the proper documentation
- Let our expert underwriting team go to work for you to get you approved
- Start accepting payments and making money
Vape Merchant Account Experts
- 20+ Proven Bank Relationships
- Medium/High Risk Accounts
- Fast Vape Account Approval
- Large Merchant Case Studies
- E-Commerce and Retail Vape
- B2B E-Cig Vendors Supported
Multiple Payment Solutions
- Multiple E-Commerce Gateway
- Chargeback Prevention
- Credit Cards
- B2B-Level II/III Data Discounts
- 3D Secure Frictionless Checkout
- Mobile Payment
- EMV Readers
Intuitive Compatibility & Support
- Gateway Recurring Billing
- E-Commerce Cart Plugins
- Developer API / Docs
- International Merchant Accounts
- Dedicated Account Managers
PayKings understands the unique needs of different vape related businesses and has established a 24+ acquiring banking relationships to become an expert in getting vape companies accepting online payments.