Merchant Account Solutions for Your Online Tobacco Business With eMerchantBroker

Oct 13, 2014

If you have an online business that sells any sort of tobacco products, you are going to need a tobacco merchant account that specializes in high-risk businesses. The potential for this type of business to fail on paying the tax due is great and for this reason, any business that sells tobacco products is high-risk and needs a high-risk merchant account.

This doesn’t mean it isn’t a great business opportunity, a number of different products are available and there is a solid customer base for the demand for the products. With the high demand for e-cigarettes and a new wider audience for these products, the opportunities for a business-focused in this line have great potential to draw in new customers and experience business growth.

Offering payment options that allow customers to choose how they wish to pay for their goods, opens up your business to a wider audience.

It is easy to apply for an online tobacco merchant account with eMerchantBroker, as long as you have no criminal convictions and if you have had a merchant account in the past and you didn’t exceed a 3% chargeback rate, there is no reason why you shouldn’t apply.

The recession and the downturn in the economy did affect all markets; however, the tobacco industry has fought back with the introduction of new products including the e-cigarette, which has found a new wider audience than previous product ranges.

Even with the negative image that the tobacco industry is facing this hasn’t stopped the market from being flooded with products and an audience who is willing to purchase these products too. Combining products that are in high demand with a business that offers credit and debit card facilities makes great business sense.

Therefore, if you are considering a new business venture the tobacco industry is looking for a positive investment opportunity, which might be worth considering.

eMerchantBroker has low online Tobacco merchant account rates!

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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