It is without question that running and operating a business needs you to be focused. You should also have good plans to become successful. There is no other industry where this holds truer than for vape or e-cigarette shops. This is why it is essential to have a trusted vape shop credit card processing system to ensure you have no problems in the end.
Often, it is hard to juggle tasks in order to satisfy the needs of the customers, while you maintain full compliance with the laws and regulations of the vaping industry. For vape merchants, they typically rely on payments from customers through credit cards. These payments will be used to make revenue and for the business to keep growing.
With the help of vape payment processors, your shop can receive timely payments. Additionally, your customers will get the products they want without delay. Having a partner in your online credit card processing will make it easier for you to achieve these things.
How to Pick Merchant Services Company
Vaping is a growing industry whose boom has been driven by the constant demand from customers. In fact, the industry generates over one billion dollars annually in revenue. Vaping is also providing to be an important component for people who want to stop using tobacco.
Unfortunately for vape sellers, banks have not completely jumped on the bandwagon. An added issue is with the latest regulations of the Food and Drug Administration. If you are a vape shop that mixes your own liquids, you manufacture e-cigs, or your company produces vape products, you are affected by these new FDA regulations. It becomes an even bigger problem with banks as they become more uneasy about vape merchants.
This does not mean though that you can no longer accept credit card payments for your vape web store or shop. What you need is help from vape payment processors. You may not have a lot of options here except with the use of a high risk merchant services company.
You may find the term “high risk” sounding scary but there really is nothing to worry about. It simply means that the industry you belong to is currently being regulated by the government. Most of the big banks you know will not want to deal with the stress of complying with the oversight requirements of the government. For this reason, they will not approve vape businesses for a merchant account.
The fact that you have limited options when it comes to high risk merchant services does not mean you have no choice for vape shop credit card processing. A quick Google search can return several results of these companies and they are all willing to help those who run a vape business. The only question is this: which one should you choose?
To make sure that you arrive at the best possible choice, here are some easy things to do to help get you started:
- Read reviews of the company online. Just as with businesses like vape stores, not all the high risk merchant services providers you find offer the same quality of customer experience. One of the methods that will separate the good ones from the bad is to read what other vape merchants are saying about the companies you encounter.
- Go for a company that lists vape stores as one of the industries they specialize in. The latest regulations of the FDA will take its full effect in 2018. Still, even today and the coming days, the industry is going through a time of regulatory change. With vape payment processors, you are guaranteed that you will get a much better service than those that only provide merchant accounts.
- Compare the services offered. Some merchants forget about the services of the high risk service provider they choose until something goes wrong. Even though responsiveness and service quality may seem like they are not important right now, they will soon be, particularly if something happens. Problems that may arise include the credit card terminal going down or the payment gateway acting up.
You Have Come to the Right Place
Sadly for the industry where your business belongs, there are reputational considerations preventing banks, especially large ones, from underwriting e-cigarette companies. There are also risks in financial areas to both the sponsor bank and the payment processor, which is why obtaining a merchant account is difficult.
If this is your current problem, we are here to help. DigiPay Solutions is just the high risk merchant services provider you are looking for. Whether you are running a smoke or vape shop or you are a manufacturer, a retailer, a wholesaler, or a distributor of vapes, e-juice, e-liquids, or any sort of smokeless accessory, DigiPay Solutions has payment processing services for businesses just like yours.
We know that credit card processing is vital so that your shop runs smoothly and we want you to achieve this for your business. We understand how challenging it is to operate a vape shop, which is why we are helping take away some of the hassles by making it easier for you to create a merchant account.
Why Choose DigiPay Solutions for Your Shop’s Credit Card Processing
DigiPay has a team of experts and we also have partners with proven records when it comes to vape or e-cigarette sales. With everyone’s combined efforts, we assure you that both startups and existing companies will be nurtured. We provide tailored solutions, along with relevant recommendations so that you maintain compliance with industry standards.
Our DigiPay merchant services enable you to have a merchant processing account for your business in just a few steps. So whether your vape shop is 100% swipe, primarily in wholesale, or partially online, we can provide you with the credit card processing solution that we know can help your business transactions to run effortlessly.
DigiPay’s goal is to be the best vape shop credit card processing provider for your business. To learn more about our services, contact us or schedule a demo today.
About The Author: Sandy Travers
Payment technology executive Sandra Travers is Co-Founder & Co-CEO of DigiPay Solutions, Inc.. Her years of experience in early-stage technology ventures brings a unique perspective to payments. Sandra manages operations and risk in addition to new product development.
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