A deathly business, tobacco sales have shown no signs of declining even with health professionals and lawmakers ramping up their efforts in the prevention of tobacco sales. Despite the many taboos and legal issues plaguing the industry, tobacco businesses continue to thrive with major profits and increasing sales.
Although the industry’s lose governing laws and subsequent changes in the financial industry surrounding the tobacco market makes it difficult for businesses to find a decent merchant account provider. With credit card processing challenges and increase in scrutiny while applying for a merchant account, obtaining a tobacco merchant account has become one of the expensive parts of running a tobacco business.
Often, Tobacco merchants are forced to pay unfairly high processing fees or look for an offshore credit card processing option because of the complexities involved in setting up a tobacco merchant account.
But the industry growth, as well as rise in credit card payments, showcases the need to offer payment options to its customers in order to stay relevant in the business.
Why is it difficult to obtain a tobacco merchant account?
- Strict Government laws and regulations
- Age restrictions
- Inconsistent and constantly changing rules and policies
- Tax issues
- Obvious ethical and health concerns
- Chargebacks at high rates
Tobacco Merchant Account & Credit Card Processing Solutions
With the anticipation of any future sanctions and increase in government restrictions, tobacco merchants require a reliable merchant account provider offering quality tobacco merchant account solutions with reasonable processing fees limiting the risk of merchants losing their payment solutions in the future.
Additionally, the tobacco industry also expanded and opened up new segments of niche businesses operating within the industry. Hence, growing businesses, as well as related niche merchants, are looking also for merchant account providers that specialize in all types of tobacco sales, whether it be a retail store or online.
If you happen to be a new business operating within the niche tobacco market or even just an existing business looking to expand into an online store, there are several reputable merchant account providers that have a strong understanding and experience working in the tobacco industry that provides transparent fees and customized credit card processing solutions.
Merchant Account Solutions for all types of Tobacco Businesses:
- E-Cigarette & Vape Merchant Account
- Cigar Credit Card Processing
- Merchant Account for Hookah & Related Accessories
- Head Shops & Smoke Shops Merchant Account
Obtaining a tobacco merchant account with a specialized processor will help you in avoiding costly fines and will continue to provide high-quality solutions for your business.