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Over the last few years, we have seen the invention called a Electronic Cigarette also known as Ecigs come to market. In a short time the Electronic Cigarette industry grew exponentially. Not without its fair share of set-backs though.
One major setback was with the capability to accept credit cards. In the beginning banks had a hard time accepting this new line of business. They would periodically allow Ecig and E-juice merchants to accept credit cards and then after a few months of processing, the bank would shut them down. This was partly due to sales agents omitting the true line of business on the applications. Once the bank found out the real line of business, the merchant was then terminated. This was unfortunate for the credit card processing industry and ejuice retailers and wholesalers that wanted to transact business. In addition other payment gateways and payment processors had problems with the online electronic cigarette retailers as well, including stripe.
Stripe a bundled payment gateway and merchant account, enables online shopping carts to accept credit cards payments. The rates are a bit high at 2.9% + .30 per transaction. We get calls from new ejuice online retailers that were terminated by Stripe because they weren't aware electronic cigarettes, vaporizers, or e-juice were prohibited products. Simply go to https://stripe.com/ca/prohibited-businesses and listed #1 is electronic cigarettes, vaporizers, and e-juice.
Many other payment processors such as Pay Pal also prohibit the sales of e-juice with nicotine. Pay Pal isn't as forthright at Stripe. In regards to Electronic Cigarettes and Ecig accessories, they do not list exactly what is prohibited. We get calls from disgruntled merchants telling us they were processing with Pay Pal for 6 months and even 1 year before they got notification they were being terminated.
If you are new to the industry, do yourself a favor and fill out the form to the left. One of our merchant specialists will assist you in getting a viable merchant account that will help you to grow your business..