A tobacco merchant account is a customized merchant service specialized for tobacco merchants. Even though it sounds not so amusing, but nicotine business has taken a drive in its own major.
“Small businesses need help”
A tobacco merchant account is a customized merchant service specialized for tobacco merchants. Even though it sounds not so amusing, but nicotine business has taken a drive in its own major. Other business sectors are rapidly growing as well as this business sector has begun to stand up for itself.
If we talk about eCommerce growth and development then we say the international market has already set some standards for locals to grow. Small-scale tobacco merchants need the support of experts and merchant services, as any other sector does.
But when they ran into local banks they don’t get anything other than rejection. And just like that, malnourished businesses settle down for no growth for a long time until it collapses on their own.
Can we do something for such small businesses from being wiped out? Yes, we can! Those who are interested in expanding their small businesses and searching for higher limits can go to PSPs.
These entities help out high-risk merchants to get up on their feet. Once they seem to be running quite well, PSP expand their services for them. And that’s what’s good about them. Now, if we take a glance at tobacco products, then maybe we become able to know why there are so ill-speaking for such businesses.
TOBACCO PRODUCTS | EFFECT ON GENERATION
Nicotine businesses are mainly the center of attraction for 18 – ∞ years old people. Mostly due to changes in the shape and form of these products they became more popular among youngsters. Some of the main products that have been seen used by youngsters are Cigarettes, Cigars, Chewing tobacco, and Vapes.
There’s no way you can stop these products’ mass production at any cost. But you must know that most of the countries’ yearly taxes come from the production and selling of these things. So, we can’t just stop them, until we find an alternative to change the supporting factor.
Well, not every product is too much harm to people. But in some ways it’s addictive and from that point of view, someday it can become their daily life need, which is not good. So, also because of that merchants don’t get merchant services from local banks. Now get to the main topic.
TOBACCO MERCHANT ACCOUNT | PROS
A tobacco merchant account has the features to speed up online payment-related operations. When the merchant is busy in other operations this merchant account will support him proportionally. Let’s see what kind of features are there for the help of a tobacco merchant.
Multi-Currency Support
As tobacco websites are open to every single individual globally, it will make it possible for merchants to connect to millions of people. This account has the feature of multi-currency support. It is to provide merchants with the convenience of money collection with several currency options.
With the help of this merchant facility, consumers will be able to buy your products with ease. And may the newcomers join your website regular customer’s list.
Alternative Payment Modes
The alternative payment modes feature of this account is there to help consumers so that they can buy anything from your website. You can receive the payment in several popular payment modes.
And if you want to target as many consumers you want then you can start this facility from now on. This feature will help you to grow your business rapidly. Don’t you think?
Easy Refunds
Many times the tobacco merchants get charged with the chargeback. Do you know the reason, why? Sometimes it is difficult to deliver the goods from where the transaction originated. But when the merchants are not able to make the refund on time, then they have to bear the heavy loss.
This merchant account has the feature of easy refunds that helps tobacco merchants to easily return the amount in time. With this type of feature, you can save yourself from an unwanted chargeback.
Credit Card Processing
Many buyers can be from foreign countries and can ask for a set of items from your website that can be expensive. In this case, paying the bill with a regular payment of mode can be uneasy. As you know that credit cards are the most preferred mode of payment than others, so why don’t you try to accept this kind of mode?
This merchant account can accept card payments with no worries. Also, it has the support of a high-risk payment processor that can process card payments faster than any other processor. With this feature, you’ll be able to connect with more consumers worldwide.
Fraud Prevention Tools
Online frauds aren’t so much far from tobacco websites too. So, it’s obvious that you’d need the support of an expert to deal with them. Right? Of course, you would. Then how’s that going to happen?
It’s easy. This merchant account has the feature of fraud prevention tools. It runs these tools while transacting online payments so, that none of the fraudulent payments can get processed. This merchant account can safeguard the merchant’s goodwill.
3D Secure Payments
One of the best features is 3D secure payments. When a transaction gets placed it sends an OTP to the real user’s mobile. If the person putting the OTP is correct the amount will be processed. Otherwise, the payment will get declined immediately. How’s that sound?
Tokenization & P2P Encryption
The feature of tokenization made it easy for turning sensitive data into insensitive. So, the data can’t be misused by anyone. Also, P2P encryption helps the merchants to encrypt the transaction details so that no one can steal that data for misusing it.
We know that security matters. That’s why we try every possible method to provide a sense of security to the merchants.
CBD | Small Business Growth
Not everyone is distributing life-threatening products. Some of them are selling beneficial health products that can be good for anyone. Cannabidiol business is selling healthcare products to the general public. Some of them can be medicinal drugs, oil, lotion, and many others. These are highly effective for changing one’s life.
So, even though they are doing well they don’t get much support from local banks. It’s just because they think these businesses are also coming under the nicotine sector so it could affect their names.
So, for that, you can find a high-risk PSP. They can support you with high-risk merchant services, strategies, and expert guidance. So, where could you find a reliable partner for your business growth?
PSP | HighRisk Gateways
You can come to HighRisk Gateways. We’re serving high-risk merchants with high-risk merchant services since 2012 and got the experience very well. Through our journey, we have lots of high-risk merchants and various business sectors.
While serving them with our services we learn many things that can help you out to grow more. And with our expert guidance, you can find yourself at the best place ever. Also, we have the support of several reliable acquiring banks.
So, now no matter which kind of business you’re running we can give you an upper hand over any situation. There will be no issue in expanding your business in the future.
Connections & Support
We got several connections in the international market so settling yourself according to new standards won’t be any problem. Also, our merchant support is excellent at solving clients’ issues. If you want to know more about our services you can drop a mail and contact us.
Aashif Shaikh
Mumbai, India