Types of Cigars & Tobacco Businesses We Support
At High-Risk Match, we support a variety of businesses within the tobacco industry, including:
- Cigars
- Loose Leaf Tobacco
- Chewing Tobacco
- Hookah
- Nicotine Products
No matter what tobacco-related products you sell, our payment solutions ensure secure and reliable transactions.
Why Are Tobacco Merchants Considered High Risk?
Tobacco merchants are classified as high-risk for several reasons:
- Health Concerns and Addictive Nature
The potential health risks and addictive properties of tobacco products create a reputational risk for financial institutions. Banks are often hesitant to work with businesses in this sector due to public scrutiny and potential liabilities.
- Government Regulations
The tobacco industry is heavily regulated, with strict legal requirements that vary by country, state, or even municipality. Compliance with age verification laws, marketing restrictions, and taxation laws adds additional layers of complexity, making this industry high-risk.
Despite these challenges, High-Risk Match is a leader in connecting businesses with high-risk merchant accounts, ensuring that you can accept credit card payments with confidence.
What Is Required for a Cigar & Tobacco Merchant Account?
To obtain a tobacco merchant account, certain documents and information are required during the underwriting process, including:
- Tobacco License
- Photo ID & Social Security Number (SSN)
- Voided Check or Bank Letter
- Articles of Incorporation
- Employer Identification Number (EIN)
- Mastercard and Visa Registration Fees
- Legal Opinion Letter signed by an attorney, confirming compliance with Mastercard and Visa regulations
- Age Verification for eCommerce websites
- ID Verification upon delivery for shipped products
Our team at High-Risk Match will guide you through the process, ensuring all documentation is in place for a smooth application process.
Tobacco Merchant Account Types
At High-Risk Match, we offer three main types of merchant accounts to cater to the specific needs of tobacco businesses:
- Online (eCommerce)
Due to the challenges of verifying online customers, eCommerce tobacco businesses face higher risks of fraud and non-compliance. This leads to higher processing fees, but High-Risk Match provides the most competitive rates for online tobacco sales, ensuring your business can thrive in the digital marketplace.
- Retail
For brick-and-mortar stores, retail merchant accounts provide the lowest risk. In-person transactions allow for age verification by store clerks and are generally seen as more secure. Retail merchants have access to a variety of point-of-sale (POS) systems, giving them flexibility in how they process payments.
- Over the Phone (MOTO)
With MOTO merchant accounts, your tobacco business can process payments over the phone, but this method carries higher costs and risks similar to online transactions. High-Risk Match offers secure payment gateways for additional security when processing phone orders.
How to Benefit from Tobacco Merchant Services
The tobacco industry faces numerous external factors that can affect profitability, but accepting credit and debit card payments opens up new opportunities to increase sales. Here’s how High-Risk Match’s tobacco merchant services benefit your business:
- Expand Your Market: Accepting credit cards allows your business to reach a broader customer base, whether online or in-store.
- Boost Revenue: Offering more payment options, including mobile and contactless payments, can help increase sales.
- Compliance Support: We provide tools to help your business stay compliant with the latest regulations, including age and identity verification for online and over-the-phone sales.
How High-Risk Match Helps You Secure Online Tobacco Credit Card Processing
At High-Risk Match, we leverage years of experience in the high-risk payments industry to streamline the application and underwriting process for tobacco businesses. Our dedicated account managers help gather the necessary documentation, answer any questions, and ensure that your business receives personalized payment solutions designed to mitigate risk and maintain compliance.
We also provide solutions for:
- Chargeback Mitigation: Tools to reduce the impact of chargebacks on your business.
- Fraud Detection: Real-time monitoring to detect and prevent fraudulent transactions.
- Secure Payment Gateways: Integrated systems for MOTO and in-house payment solutions to enhance security.
Tobacco Payment Processing Integrations
At High-Risk Match, we make payment processing seamless by integrating with the software and systems you already use. Whether you need recurring payment options, mobile payment solutions, or integration with your CRM software, our team provides a smooth integration experience. We customize payment processing applications for each of our merchants, ensuring a tailored approach based on your business’s specific needs.
Our integration solutions support:
- Recurring Payments for subscription-based sales
- Mobile and Contactless Payments for increased convenience
- CRM and Accounting Software integration for streamlined operations
Why Choose High-Risk Match for Tobacco Merchant Services?
At High-Risk Match, we specialize in high-risk industries and have extensive experience working with tobacco businesses. Here’s why you should trust us with your payment processing needs:
- Fast Approvals: We expedite the approval process, ensuring your business can start accepting payments quickly.
- Dedicated Support: Our expert account managers are with you every step of the way, from application to ongoing account management.
- Competitive Rates: Despite the high-risk nature of tobacco businesses, we offer competitive rates with no hidden fees.
- Secure Solutions: We prioritize the security of your transactions, with tools like PCI compliance, encryption, and fraud prevention.
Start Accepting Tobacco Payments Today with High-Risk Match
Ready to streamline your tobacco business’s payment processing? High-Risk Match offers secure, reliable, and compliant payment solutions tailored to your unique needs. Whether you’re selling cigars, hookah products, or loose leaf tobacco, we can help your business thrive with the right merchant account.
Contact Us Today!
Phone: 1-877-242-2009
Email: info@highriskmatch.com
Let High-Risk Match be your partner in ensuring secure and compliant payment processing for your tobacco business.
