Oct 25, 2013

The EU Decides Not to Interfere With E-Cigarette Sales; Will the FDA in the United States Follow Suit?

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Europe has taken a stance on the electronic cigarette industry, and they are standing down. After deliberation in their courts, they just want the industry to advertise for adults and verify the customer is 18 or older.

In the United States, it seems to be a tad bit more difficult. The FDA is fighting with the courts, and the court system has passed in favor of the electronic cigarettes thus far. Over forty of our State Attorney Generals have asked that the advertising be banned. They have gathered in masses, accusing that the ad campaigns are vested to our children. The answer will arrive at the end of October, as that is the deadline imposed by the FDA on itself.

As an owner

As a tobacco shop business owner, you need to be aware of this going on. Especially if you have electronic cigarettes in your stock and this stagnates what you have purchased.

Getting your smoke on

If you have chosen to move your products to the smokeless arena, you will need an e-cigarette merchant account to process your credit and debit card purchases. Without it, you won’t have a way to collect your funds for new customers.

Have a way to verify

The major concern of the courts, the FDA and the Attorney Generals; is the age verification process by purchasers. They don’t want to pander to children under 18 and they want to make sure that the user is an adult.

This would be a good time to find a way to verify age. Don’t take it lightly. As a business owner, you should be the responsible one and find a program, or even design one that can verify the age of the card holder. If the card holder does not match the information, then you don’t have a sale. Unfortunate, but necessary with something like this.

The FDA

As said above, the end of this month will bring the ruling from the FDA. Let’s hope that their regulations are nothing more than concern for the kids. That makes sense, but not allowing free enterprise to continue on, begins to smell like regulation where they don’t belong. Sometimes too much of a good thing, is just too much.

Have yourself set up

Get your account set up with a reputable merchant account servicer. You can start with your bank to see if they do that kind of account. Figure out if they have a virtual terminal and how safe their gateway is. Once you know all that, go online shopping and search for better deals. Look for those that work with e-cigarettes and all tobacco products, and for goodness sakes, look them up to verify they are really in business. There is nothing worse than thieves taking money from honest working people.

So, the answer is coming, and for the sake of your business, keep on top of the information. Then make informed decisions on what you should do. Good luck with your business.

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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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