New Legislation Could Leave Your E-Cig Business in a Jam if You Are Not Prepared

Apr 22, 2015

E-Cig merchants should already know of new changes surrounding many states and e-cig sales. The changes involve the inability in many states to sell to minors, i.e., those under 18 years old. While the change is strictly watched in law enforcement, many do not realize that these changes are also being watched by merchant account processors. While fake ID’s are becoming more and more advanced, there are ways that you can combat the fraudulent ways some attempt to obtain e-cigs while underage. One of these methods is not well known, but it is becoming a big help to those in industries where age verification is necessary.

Age verification merchant accounts are a great resource for those who are selling items that involve the age verification process. Many times, eyes can be fooled by a fake ID, and sadly some clerks do not ask to see an ID, even when it is law. An age verification merchant account can help you bypass human errors. While this is a godsend for those in various industries, as mentioned above it is not well known. And, being not well known also means that very few merchant account processors offer the option.

The reasons for this vary, but one of the biggest factors could be that it falls into the “high risk” category. High risk merchants are every day, normal businesses, but they have a higher rate of fraudulent charges. This makes them high risk to merchant account providers, as these fraudulent charges cost the processor as well as the merchant. These charges can be upwards of 270% of the original charge, so it is easy to see why many processors do not deal with high risk companies. However, it can be aggravating if you are a high risk merchant, such as an e-cig merchant. There options, and you just need to know where to look.

For an age verification merchant account, you need to look no further than EMB. We at EMB know how difficult it can be to operate your high risk business effortless, but with caution. With our age verification merchant account, you can do just that.

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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