Getting a Payment Processor for Vape Products

If you are planning on selling vapes online, the very first hurdle you’ll need to get passed is finding the right merchant service who accepts your business. There isn’t a long list of merchants who are willing to back you up because they know that the sale of electronic cigarettes, vapes,and other similar products area high risk. That’s why many payment processors might reject your proposal. Giant payments processors like PayPal, Square, etc. have been seen to freeze merchant accounts that are considered high-risk, without any legal warning.

But vaping is a massive industry that makes over a billion in revenue each year. Also, it has been helping people leave tobacco for good. So there’s no doubt that vape and electronic cigarettes will exist for a long time.

But without a payment processor, how can you run your business smoothly? Don’t worry, there are plenty of ways to get a payment processor for vape products.

But first, you should know what affects Online Vape Sales.

Factors Affecting Online Vape Sales

New rules enacted in 2016 by the FDA, indicate that the vape companies who constantly change their bottle, flavor, and size cannot sell their products unless all of them are FDA approved. You’ll also have to surpass a few more hurdles if you want to mix the liquid formula to make a new one because the new mixture of liquid is a new product to the FDA. This process of getting these approved by the FDA may take years and may cost up to a million dollars for the legal arrangements.

But the biggest change that is affecting the online sales of vape is regarding the registration with Visa and MasterCard. If you look at the past, you’ll see the companies who were selling e-cigarettes and related products but not the actual to baccodidn’t need to pay $1,000 annual fee or didn’t need to go through a registration process with MasterCard and Visa.

But things have changed now. You need to pay the $1,000 annual fee and need to register with the MasterCard or Visa. In some rare cases, you might also need to get a letter from your lawyer, saying you won’t break any laws when selling these products like laws for age verification.

How do you get the High-Risk Merchant accounts for Vape products?

You must know that high-risk don’t have to do with anything about your company being rich or poor. It just means that your company can get government interference at any day.

These high-risks also indicate the companies who have higher-than-average fraud or charge backs. But still, with the high-risk tag, it is easy for you to get approval.

Companies like HMS serves high-risk businesses with the best merchant service. Unlike most of the credit card processing companies, HMS allows you to work with Shopify.

These types of merchant service providers don’t care how risky you are. They just want to help vape niches to go higher.

If your papers and documents are real and transparent, you’ll get your merchant account very soon.

For more info, please visit: Charles K Carillo

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