Using Multiple Merchant Accounts For Your Online E-cig Store

Jul 16, 2013

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.

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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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