Electronic cigarette merchants usually struggle with finding acquiring banks and credit card processing companies to work with. Many card processing companies and acquiring banks are not familiar with this industry, leading to electronic cigarettes merchant accounts being categorized as high risk.
Electronic cigarette merchants are known to operate multiple accounts so as to be able to accept high sales that are associated to this industry and to also reduce their risk level. With multiple merchant accounts e-cig retailers are able to spread their potential charge risks to the multiple accounts. By operating multiple accounts e-cig retailers enhance their chances of finding a credit card processor and acquiring banks to work with. Some of the benefits of operating multiple accounts include:
- More Payment processing
- Enjoy various Credit Card Processing Options
- Distribution Chargebacks
- Process for More Websites
- Limiting Credit Card Processing Interruptions
Multiple accounts process more payments. Online e-cig stores usually face a volume limit or maximum imposed on them by their acquiring banks. The limit is placed on the number sales volume a merchant is required to process. For purposes of running an electronic cigarette business, the merchant is therefore advised to maintain multiple accounts so as to avoid hitting the volume processing limit.
Merchants operating multiple accounts enjoy the different processing options these various accounts have to offer. It’s through these accounts that the business gets to access a wider market share and other processing benefits like having a multiple currency account. The only way to enjoy these processing options is by having multiple merchant accounts.
By having various accounts, a merchant is able to leverage on their chargeback by simply spreading it across the various accounts. By doing this, a merchant benefits by reducing their account’s chargeback ratio and also eliminate the possibility of a merchant losing their credit card processing ability.
Multiple accounts enable a merchant do away with interruptions brought about by credit card processing. Those who operate multiple merchant accounts do not experience a disruption to their credit card processing activities in the event that one of their accounts gets suspended for whatever reason. There are other instances where one provider’s accounts would not be accessible simply due to reasons such as technical and routine maintenance disruptions.
EMB understands how vital it is for any business to accept payments via credit cards and we have therefore partnered with like minded companies that work with the electronic cigarette industry. EMB provides electronic cigarettes merchant’s accounts irrespective of whether the business is internationally or domestically based. We at eMerchantBroker are all too familiar with the challenges an electronic cigarettes merchant is likely to encounter while in their search for a merchant account provider. It’s in response to these challenges that we have sought various agreements with processing companies, with the sole intention of matching any online e-cig store to a reputable credit and debit card processor.
EMB has been in the business of providing merchant solutions to various types of businesses. With the Electronic cigarette industry, we are familiar with the hurdles retailers are likely to encounter. Hence our continued commitment and support to online e-cig stores.