Lately, we have been very pleased with not only our ability to help vape / e-juice merchants with a compatible gateway like NMI for their WooCommerce (or Shopify) site but also with the ease of which we have been able to recommend “merchant friendly” electronic cigarette e-commerce merchant accounts with no reserve. In years past, when scouting merchant accounts for vape merchants, it was common if not universal that the processors we introduced vape and e-juice e-commerce merchants to insisted upon a “reserve”. Note: A reserve is when a credit card processor keeps a portion of a merchant’s sales (often 10-15%) “in reserve” to protect themselves from chargeback losses, refunds a merchant cannot cover, or even for potential fines.
Positive trends for vape processing continues
For many merchants, having 10% or more of their sales held sometimes for 6-12 months created a big cash flow issue. There was a time, for e-cig merchants at least, when this was unavoidable. We now have seen a steady period, of over a year, where it is fairly easy for us to find a no reserve processing recommendation for most online vape merchants, even start-ups. Another great trend is that the processors who are offering these no reserve accounts all integrate with NMI or Authorize.Net making the setup process for merchants who use major carts like WooCommerce or Shopify very simple. Lastly, for merchants up and running already, we have seen many “no reserve processors” willing to beat the rates of their competitors, creating a terrific situation whereby many electronic cigarette merchants not only are able to process without a reserve but are also able to save money on their processing fees as well!
If you would like a no reserve, low-cost vape friendly payment gateway and merchant account recommendation please contact us anytime for suggestions. We are always happy to help.