About PayDiverse

ECigarettes, eCigs or vape are a relatively new industry, and as such, large banks and payment processors have deemed the industry high-risk. As it stands, the eCig industry isn’t large enough and there isn’t enough information easily available about how the industry operates. At PayDiverse we’ve put time into analyzing the eCig & vape industry and the ways that merchants of electronic cigarettes tend to conduct their businesses. We’ve formulated merchant accounts that are designed to fit the unique needs of an industry that is basically brand new and experiencing exponential growth year after year.

What is the Ecig Industry?

Ecigs, or electronic cigarettes, are smoking devices that provide users with an experience similar to smoking but without harmful ingredients and chemicals like nicotine, arsenic and formaldehyde. Instead of tobacco, e-cigarettes contain flavored fluids (usually called vape juice, e-juice or e-liquid) that are vaporized and inhaled by the user.

According to the CDC, over 9 million Americans were using e-cigarettes/vape regularly as of the end of 2015. This number continues to grow as the industry becomes more mainstream. This growth attracts newcomers to the industry every day. In fact, as of 2017, there were more than 12,000 retail stores in the United States selling e-cigarettes and/or e-juice.

Why is the Ecig Industry High-Risk?

Additionally, with so many new merchants coming out of the woodwork to get their hands on some of the revenue e-cigarettes are continuing to produce, a large part of the industry is made up of inexperienced business owners with little to no payment processing history. This alone may place a business in the high-risk category regardless of their industry.

What Risk is Involved for Banks and Payment Processors?

Merchant Accounts for E-Cigarette Merchants

Our high-risk merchant accounts feature competitive rates and industry-leading features including fraud protection, chargeback alerts and ACH/e-check processing.

Fraud Protection Tools

Chargeback Alerts

Banks only allow merchants to have a small number of chargebacks on their account. If this number becomes too high the bank may freeze or close the account, leaving the merchant unable to process credit and debit payments.

With PayDiverse chargeback alerts, merchants will be notified in real time whenever a chargeback is requested on their account. This allows them to begin the dispute process immediately and increases the chances that the chargeback will be rejected.

ACH/E-Check Processing

Multi-bank Processing

Opening an E-Cigarette Merchant Account with PayDiverse

Whether you’re a pioneer of the eCig industry or a brand new merchant looking to obtain merchant account services, PayDiverse may be able to help. We have a 98% acceptance rate and have helped many merchants in your industry and other high-risk industries process their credit and debit card payments for over 20 years.

Applying for your merchant account is simple. Just complete and digitally sign our secure online application and submit the requested supporting documents. Our underwriters will review your information and determine your account eligibility within 24 hours.

If we are able to approve you, you’ll be set up and ready to accept payments within 48 hours of approval. With your account, you’ll have access to all of the incredible features PayDiverse offers, including:

• Our secure merchant portal
• Chargeback prevention and alert systems
• ACH/e-check processing

Apply online today and you can be accepting credit card, debit card and ACH/e-check payments in just a few short days.