E-Cig Merchants, You Need to Accept Mobile Wallet Payments

Apr 22, 2015

Mobile wallet payments are big news, and consumers love their ease and convenience. While big news, many e-cig merchants are not offering to accept these payments. You need to. If your current e-cig merchant account provider does not allow you to, it is time to look elsewhere for your merchant account services.

One of the biggest mobile wallet names is Apple Pay. Even amidst a soft hacking, consumers are still using it at a record pace. The ease and convenience of scanning you phone instead of digging a plastic card out of your wallet has turned many onto the technology. It is catching on fast, and many retailers are beginning to accept these payments. However, many high risk merchant account processors do not provide the service, so it could leave those with e-cig merchant accounts in the dark, and out of some dough. You need to look at your options, and consider switching to another processor, if yours does not accept mobile wallet payments.

While high risk merchant account processors cater to those who have a higher risk of fraudulent activity, it does not mean that they want to deal with the fraudulent activity. Few actually provide the access to mobile wallet payment acceptance. One of the few is EMB. EMB is big in the high risk industry, as it is the #1 rated high risk processor in many surveys amongst industry professionals. In addition, EMB was one of the first to embrace e-cig merchant accounts. We are experts in the e-cig merchant account-processing field, and we know what helps and hurts our businesses, and mobile wallet payments help.

With mobile wallet payments booming, businesses that do not, or cannot, accept them will only hurt in the long run. That is why we at EMB allow our high risk merchants to accept mobile wallet payments. This is regardless of the company type. All businesses deserve the chance to succeed, and by having an EMB high risk merchant account, you are helping your business succeed.

Let us help you get a high risk merchant account today!

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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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