eCig & Vape Credit Card Processing in Today’s Environment
June 27, 2023
In recent news health officials, lawmakers, and parents haven’t made things easy on eCig, CBD, and vape merchants – many of which have lost their merchant accounts and vape credit card processing all together.
These anti-vape groups have been raising alarms about vaping for the last couple years, claiming that vape and CBD vape products are promoting themselves as a healthier choice for smokers but are instead drawing in young consumers with fun flavors and slick marketing.
While not all vape and eCig companies are created equal, the bad apples in the industry have made maintaining vape credit card processing for the reputable companies very difficult. So much so, that the Trump administration mentioned Wednesday that they have plans to ban most flavored eCigs and Vape juices.
Regardless of today’s heightened climate for eCig, CBD, and vape merchants, PayKings still has abundant options in the face of regulatory changes for business owners that need vape credit card processing.
Most credit card processors do not accept eCig, offer CBD merchant accounts, or take on any vape merchants, specifically for two reasons: especially now, eCig and vape related products are age restricted and governed by the national government. That means that they require underwriting knowledge and procedures by the credit card processor, which processors are not well prepared to offer, thus declining your options for vape credit card processing before you even apply.
Second, because CBD merchants, eCig and vape goods have turned into a “political” problem, several sponsor banks and their credit card processors have decided that the political costs to their business outweigh the benefits, and therefore refuse to offer vape credit card processing or merchant services to valid and reputable eCig, CBD merchants, and vape related companies.
By comparison, PayKings has offered eCig and vape credit card processing to companies for over five years, allowing for our team to have built extensive relationships for vape credit card processors and host banks that can underwrite regulated industries.
Our experience has made us experts in our industry and has positioned us to provide affordable and reliable merchant accounts to the businesses we cater to so they can maintain CBD, eCig, and vape credit card processing for the financial success of their business.
June 27, 2023 | Merchants | Guest Post