The strict regulation of tobacco makes it a high-risk business, at least in the eyes of conventional financial institutions. Today, you can’t deal in tobacco products without the knowledge of the government and even then, you’ll be required to adhere to a strict code of conduct otherwise you may be sued and get your business closed.
This is nothing new considering that the government has always tried to protect the general population from the alleged harms of tobacco and tobacco products. Therefore, manufacture, sale, and/or distribution of tobacco products is highly regulated right from the local government way up to the federal level.
These concerns leave conventional financial institutions with no alternative but to practice utmost caution with merchants in the industry. Unfortunately, merchants in the e-cig industry aren’t exempt. Although e-cigs are widely considered a harmless alternative to actual tobacco products, the government is increasingly putting measures to control access to such products. With a recent CDC report indicating that the number of youths using e-cigs tripled between 2014 and 2015, the government is moving swiftly to ensure that persons under the age of 18 do NOT access the products.
It’s a very complex situation indeed since studies also show that most under-age users order the products online using credit cards that don’t belong to them. This causes a real fear of chargeback. Moreover, no financial services provider likes to get involved in court cases involving minors. This is probably why your local bank may refuse to provide you with a payment processing account for your online cigarette business.
Get your online head shop merchant account from EMB today!
Fortunately, eMerchantBroker (EMB) is now providing such services. If you run an online head shop, then you need to visit EMB today to open a head shop merchant account.
There are several benefits of having an online payment processing account.
- Accept all the major credit cards – this is perhaps the biggest advantage of such merchant accounts. When you have the account, you will be able to process all major credit cards meaning that more consumers will be able to access your business.
- 24/7 monitoring – EMB also monitors all merchant accounts, 24/7. If there is any malicious activity, we should be able to uncover it early before there is a severe damage.
Opening a Head Shop merchant account with EMB is simple and hassle free.