Smoke Shop Glass Retailer & ECig Businesses
Are you in the growing business of selling eCigs, Glass Pipes, Water Pipes, Bongs, Hookahs, Grinders, Bubblers, Kratom & Kava, Dabber Equipment/Dab Gear, Vape & E-Juice or smokeless vaporizers online and retail swipe? Have you had trouble securing a merchant account? At Green Pay, we have assisted hundreds of both retail in person swipe and online Smoke Shops, eCig/vape retailers in successfully getting approved for a merchant account AND we often set up merchants at much lower rates than other processors. Get a FREE Verifone Vx520 Credit Card Machine for Your Retail Head Shop!
Green Pay will work with you to develop a solution customized for your needs and we’ll save you money at the same time. Our online payment gateway is state-of-the-art, easy to set up, secure and PCI compliant. We understand the risk your business faces, therefore we know how to help you manage chargebacks, become compliant with online processing laws and prevent fraud. Join the hundreds of Smoke Shop, Head Shops, Glass Pipe Retailers and eCig merchants who have opened their merchant account with Green Pay!
Benefits of Using Green Pay for Your Merchant Account:
- Major credit & debit card acceptance
- Secure payment gateway and virtual terminal
- SSL secured & PCI compliant solutions
- ACH & electronic check processing
- Great rates & FREE integration
- Same day funding
- 24/ Customer Relations and Tech Support
- Chargeback insurance available on all accounts
- Glass Retailers, MMJ Dispensaries, Smoke Shops
- Water Pipes, Hookah Lounges, Subscription Services, Head Shops
- & Much More
Merchant Account for Head Shops – Cigar/ Tobacco Stores
If you are ready to accept multiple methods of payments, as in accepting card payments like Visa, MasterCard, Discover or Amex (typically both credit and debit cards) then it is prudent that you open a merchant account which accepts various payment methods. There are three parties involved here – the merchant acquiring bank (Visa, MasterCard etc.,), the acceptor (the business establishment) and the customer. When the customer pays using the merchant acquiring bank cards, the bank or the financial institution settles the payments with the business house after charging a transacting fee.
Head Shops- Smoke Shops – The Perception of High Risk vs Low Risk: What to Do When Denied or Shut-Off by Conservative Banks and Financial Institutions: Opening a merchant account with a bank or finance house sounds simple. But not for every business. If you run a smoke shop or a liquor bar, the expensive fees and interest rates, billing essentials, recurring billing charges, and the other processing markups from a bank can be quite tedious. These are considered high risk business where there are many legal hoops that you may fall into. A bank when dealing with such high-risk merchant accounts also considers the liability issues. As an owner of a high-risk business, it is imperative that you sell only to those who are legally able to buy your products and pay for them through legitimate means. And if you are an online merchant for such products, the onus of a smooth financial processing of your business account is entirely on you. The products, price, payment, and the ability to increase the conversion rate all play an important role in efficient running of your e-commerce business. And small businesses especially the head shop ones may find it difficult to find a bank which will help them with taking credit card payments and online transfers. It is not uncommon for a conservative bank or a billing payment provider to refuse a glass smoke shop or a tobacco house’s accounts because they simply don’t want to be associated with this industry, because it is difficult to cross-verify legal issues like age restrictions and compliance to other related laws of the land.
The Credit Card Processor Serices We Provide
Start-ups and new businesses: If you are a start-up or a new business with domestic and offshore options, and have an e-commerce website and need transaction processing help we can help you with the same. Where banks are unwilling to underwrite for high-risk merchant accounts even when there are less chargebacks, we can assist such a business. We are equipped to handle high volume and high-risk transactions and are OK with both online sellers and retail storefronts. There are multiple underwriting banks to cater to various low-risk businesses and tend to shut-off businesses for selling any item in their ‘prohibited’ list. We assist e-commerce sites that require a gateway provider for such products. Sometimes a high-risk business is placed with merchant processing accounts when there is the advantage of processors that determine your company’s placement. If you are looking for a provider that helps your smoke shops/ head shop with backup accounts and some of the best rates in the industry which even the likes of PayPal, Square do not cater to, then you can look at our website for the details.
The rates are determined according to the business you do. We cater to domestic and off-shore businesses for these industries. Our domestic rates may be less compared to the offshore transactions, but the rates for retail swipe in general maybe less. We offer two types of reserves for our merchant account holders - the minimum reserve and rolling reserves. If you opt for the minimum reserves, you must retain the specific stated amount as a reserve balance in your account all the time. And if you’re looking at a rolling reserve option, then we withhold a percentage of your daily transaction volume and release it periodically as per the given policy schedule. These reserve requirements are a part of our risk management policy to protect merchants as well our establishment from potential risks of losses due to chargebacks.
Be it a start-up/ a new business or an established one the payment processing remains the same. But the established businesses need to get their documentation (current processing statements, website details, corporation documents and legal documentation etc.,). We provide assistance for new business establishment also. We are willing to underwrite if your credit is good, or fairly average. Our team is available for help to get you started or assist you with additional documentation and take charge of the payment processing for your clients’ credit cards and online payments.Contact one of our account executives to open a merchant account with Green Pay today.