E-Cigarettes Merchant Account
Although e-cigarettes’ popularity and related products keep increasing, this business is considered to be high-risk by many financial institutions. That means that you will encounter a range of difficulties with opening a merchant account. So, do you have an e-cigarette business or are you planning on launching one? Then you should find out some important information about opening such a type of account.
What is a merchant account and why do you need it?
There are many things that you need to think through. They start from ensuring your business will be successful to making sure your customers are happy with their shopping experience. Another vital feature is offering convenient, reliable, and secure payment solutions. In order to accept quick payments by credit and debit cards, it is strongly recommended to get a merchant account.
A couple of decades ago, setting up a merchant account was an obligatory condition for accepting credit/debit card payments. Nevertheless, today there are solutions allowing you to avoid it. PayPal, for instance, is one of the payment service providers that have one merchant account for many merchants. It seems tempting to start operating without going through all those application and registration processes. Anyway, there are disadvantages that you should keep in mind. They might include a lack of great customer support, a different name on credit card statements, high fees, etc. That’s why if you want to establish a reputable business, getting a merchant account is the best option for you. Yes, there may be a few problems with getting one, but we know the solution that can help you out.
Why e-cigarette businesses are high-risk
Today, lots of different businesses fall under the high-risk type because of different reasons. The main one is a large number of chargebacks, and, unfortunately, e-cigarettes businesses as well. What does this mean? So, when you come to a bank to apply for a merchant account, you’ll face a long and exhausting procedure. Nevertheless, even after this, the bank may reject your application. It is still possible to get approval, but the bank might offer you pretty high fees for its services. Moreover, the bank may also find a range of other reasons to avoid dealing with you, such as a low credit score, is a new business, etc. However, it is possible to register a merchant account in a quick, convenient and hassle-free way if you use PaySpacelv’s services.
Why should you choose PaySpacelv?
PaySpacelv is your answer to everything when it comes to getting a merchant account for your e-cigarette business. Opening such an account is not everything that you need to start getting payments because it’s also essential to get a payment gateway. Also, you should decide what countries you wish to operate in and what currencies you would like to accept.
It is also important to ensure that you and your customers will enjoy not only a convenient payment experience but also a high level of protection against hackers, fraud, etc.
We will guide you through every single aspect that you need to take into account to ensure that your customers will be able to pay for your products without any problems. We also allow you to stay protected against chargebacks thanks to using specialized software and effective strategies. Our specialists have many years of experience in offering great payment solutions for different business types and sizes.
How much does it cost to set up an e-cigarette merchant account?
We have flexible pricing, which means that the price will be calculated for you based on a range of factors and your individual situation. In order to give you the exact numbers, we need to know some information about your business. You just need to contact us and answer a few questions.
How soon will you be able to open an e-cigarette merchant account?
We have everything to ensure that you will accept payments from your customers as soon as possible. However, the exact terms depend on different factors, such as an integration option that you want to choose. Usually, it takes from 1 day to 1 month to complete all procedures.
How to apply for an e-cigarette merchant account?
On our website, you will find a range of contact options that you can use in order to reach our specialists, such as email, telephone, and an online contact form. In fact, we have a merchant application form as well, and you should fill it out if you need to open a merchant account with us or find out more information about our services and how they work.
We will need to ask you to provide some documents, but you can be sure that everything that you send to us is really necessary to open a merchant account for your e-cigarette business in a hassle-free way.