Feb 05, 2015

E-Cigs Predicted to Outpace Traditional Cigarettes

Photo Courtesy of TBEC Review

The state of Kentucky is home to the largest population of adult smokers in the United States. But even in this bastion of cigarette smoke and nicotine, a competitor is quickly gaining ground threatening to replace traditional cigarettes in the lives of smokers. Electronic cigarettes or e-cigs, are projected to outpace the sale of combustible cigarettes within the decade. Entrepreneurs looking for a profitable product, should invest in the electronic cigarettes before the market becomes saturated.

In Kentucky, researchers are running tests to determine if e-cigs can help smokers drop combustible cigarettes and migrate to what many believe is a healthier alternative. Thus far, the FDA has not come out with any official statement on the health effects of c-cigs. Scientists still need time to fully analyze what affects, if any, “vaping” has over smoking combustible cigarettes. Until then, consumers and e-cig merchants have enjoyed a lack of universal regulation which has allowed for the creation of a variety of flavors for e-cigs from bubble gum to cappuccino. Advertising tactics that have been forbidden to traditional tobacco, are ripe for exploitation for e-cigs in many states. As a result, e-cig sales have skyrocketed and e-cigs have quickly been popularized in the US and even more so in Europe and Great Britain.

Since the FDA has neglected to release national regulations, each individual state has been left to decide how and if they will regulate e-cigs. In Kentucky, the Kentucky Farm Bureau is debating a tax on e-cigarettes somewhat like the 60-cent tax on regular cigarettes. Last April, Governor Steve Beshear, signed a bill authorizing penalties against minors caught vaping and the stores that sell to them. After signing the bill, Gov. Beshear stated that vaporized cigarettes and combustible cigarettes should be taxed equally.

Electronic cigarette merchants are enjoying soaring profits and increasing demand for their products. But many merchant profits are still encumbered because they can only accept cash due to insufficient merchant account management. eMerchantBroker.com is the number one payment processor for your electronic cigarette merchant account, so that your customers can pay for your products with checks, debit, credit, and other types of payment. Contact us now to find out how you can start a e-cig 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 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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