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Cleffo is ready to provide secure vape merchant account services to help your business grow efficiently, start vape payment processing, and manage all the transactions.
Nowadays, as people become interested in new options besides traditional smoking, the vape and e-cigarette industry's popularity is growing quickly as well. However, conventional banks see these types of businesses as high-risk, so this field often has trouble creating vape merchant accounts. Despite its growing popularity, it remains heavily regulated, and many financial institutions are hesitant to support these businesses, trying to avoid any risks. Cleffo is a trusted vape payment provider that offers a vape payment gateway as a solution for secure and easy payment processing, allowing your business to grow.
Here are the reasons why banks classify the Vape & E-Cigarette industry as high-risk and cause difficulties with vape credit card processing:
As the law constantly changes and varies by region, the industry faces and causes compliance risks.
Customers may ask for a refund after buying something, which leads to more chargebacks.
These types of products should be sold only to adults, and this can make getting a proper online vape shop merchant account a severe challenge.
Ongoing talks about the health effects of vaping create uncertainty and make banks more careful.
Some banks avoid working with industries that get a lot of public attention or criticism, like vaping.
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