Cigar And Tobacco Merchants Can Get The Best Merchant Account For Their Business

Sep 22, 2016

Traditional banks and most processors refuse to open an online account for tobacco merchants because the industry is classified as high risk. This means online tobacco and cigar business owners deal with a higher rate of chargeback and disputes.

Get the Best for Your Online Tobacco Shop

Based on the Family Smoking Prevention and Tobacco Control Act of 2009, processors try to stay away from processing payments for online cigar and tobacco merchants. Especially banks will not take any risks in this regard without thorough federal research and regularization.

This is why the mentioned merchants look for online account services from high risk experts. One of them is emerchantbroker.com, the #1 provider of merchant accounts for the electronic cigarette industry. EMB boasts an A+ rating with the BBB and offers a low-cost and highly secure online tobacco merchant account to customers.

Modern Cigar and Tobacco Market

Today, eCigarettes and vaporizers are becoming increasingly popular but are viewed as a new territory. This cannot be said about emerchantbroker.com. EMB easily embraces new industries and takes on new challenges.

EMB’s team can easily open you an account that is convenient and efficient for your online tobacco and cigar business. EMB offers processing times as short as 48-72 hours and applicant-friendly policies concerning credit histories. With emerchantbroker.com, you can enjoy:

  • Skilled Staff offering services based on years of experience
  • Proven Platform that has helped thousands of merchants to start and grow
  • Proven Support and Vast Knowledge
  • Speedy Signup with an application process requiring only a few minutes and a minimum of paperwork
  • Unmatched Security
  • Lowest Possible Rates
  • Chargeback Prevention and Protection
  • Real Results

And more

According to The New York Times, the tobacco industry is trying to prevent the US Food and Drug Administration from imposing regulatory control over electronic cigarettes and cigars, pipe and hookah tobacco.

Due to the new FDA rule, the products can retroactively be examined for public health risks and their sales can be banned. The campaign against the rule is led by the Altria Group, the largest tobacco company in the US.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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