Cigarette Big-Wig Purchases Electronic Cigarette Giant

Aug 11, 2014

Tobacco cigarette bigwig Reynolds just made a major purchase by the name of Lollilard E-Cigs. While everyone knows that e-cigs are big business, they became that way by marketing themselves as a safer alternative to the average tobacco cigarette. Many are now wondering what happens now that big tobacco has gotten ahold of a “safer alternative”.

E-Cigs have been hotly debated over the past few years, with some claiming that their “safer alternative” labels are false. While there is not a huge amount of data available, industry reps and doctors are still arguing over their safety. The opposite can be said for big tobacco and tobacco cigarettes, as the data is overwhelming the favor of their lack of safety. It begs the question of how Reynolds will market their newly acquired e-cig market. Will they market them as the safer alternative, perhaps damaging their own tobacco cigarette brand? Only time will tell.

Regardless, e-cigs are still a hotly sought-after product. If you are looking to open a business, e-cigs bring the perfect opportunity, due to their affordability and fad factor. However, while opening a business may be easy, you will have a hard time finding a merchant account for your e-cig business. While it may seem that all hope is lost, it is not. There are merchant account providers that specialize in e-cig merchants, such as EMB.

EMB, or, specializes in “high risk” merchant accounts, such as e-cig accounts. They are considered high risk because they are at a higher risk of having fraudulent transactions occur, compared to other merchants. This should not happen, yet it happens all too much in the merchant account industry. We at EMB have years of experience dealing with e-cig merchants, dating back before they were well known, or even a fad. Many things in the business world are iffy, however, you should make sure that your e-cig merchant account is not one of them.

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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 on 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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