Posted by admin on Feb 12, 2014

 

Credit Card Processing ECigarette

ECigarette Market is Booming

The US ecigarette market accounted for over $1 billion in sales in 2013.  More than 2.7 million smokers are now sucking on ecigarettes rather than tobacco.

The growth curve for the product will escalate in the coming years.  Ecigarette are considered less harmful than tobacco products.

Big tobacco companies are entering the ecigarette market.  Advertising by these brands is sure to drive demand higher.  growing quickly and seen as less harmful than traditional cigarettes because they don't involve combustion.

Ecommerce Accounts for Ecigarette Merchants

Accepting credit and debit cards for online purchases of ecigarettes is necessary to capture sales from buyers who want the product.  Customers are loyal and tend to purchase frequently from the same merchant. 

Since ecigarettes are not tobacco, one would think that merchant accounts would be easy to establish.  However, many banks consider ecigarettes in the same category as tobacco.  As a result, merchants selling ecigarettes are classified as high risk merchant accounts.

Card processing accounts are available for high risk merchants.  Rates are generally higher than standard risk accounts for merchants with low processing volumes.  However, high volume accounts with processing can qualify for standard risk rates

Applying for Your Ecigarette Merchant Account

Applying for your merchant account is a simple process.  You submitt an application form along with information about your company.  Accounts are approved within a 2-3 days.

You can accept all credit and debit cards through your account.  Integrating payment processing with your website is through an Application Processing Interface (API) which is a simple plug-in for your webmaster.

Your ecigarette merchant account can accept card orders made online.  Phone and mail orders can be entered using a virtual terminal which is included with every account.

Recurring Payments for Ecigarette Merchants

Many customers order vapor kits and supplies on a regular basis.  Once buyers find a trusted supplier, they return often to make purchases.

Recurring billing is a standard feature of all ecigarette merchant accounts.  You can offer your customers the ease and convenience of  receiving products on a regular basis, all without the need to place a new order every time.

Recurring payments are a great way to get more orders, stabilize cash flow, and build long-term customer relationships.

Conclusion

Opportunities for ecigarette sales are booming.  

Yet the classification of the ecigarette industry as high risk merchants makes it challenging to obtain payment processing accounts.  

Still, you have many options for ecig merchant accounts at attractive rates.  With processing capacities required to accommodate your business growth.

Do you need payment processing for your online ecigarette site?  

Contact info@paynetsecure.com today