Get a high performance head shop merchant account now.
A head shop merchant account is a credit card processing account specifically tailored to meet the needs of head shops. These businesses generally specialize in selling smoking accessories that include pipes, glassware, bongs, hookahs, vapes, tobacco, cigars, and other related items.
There are many reasons why a head shop merchant account is necessary for businesses in this specific segment. As a merchant, you must understand that processing payments for industries like head shops or smoke shops requires extensive experience in supporting high-risk businesses. Conventional credit card processing companies generally do not have enough risk appetite to support online and retail businesses from these sectors.
At QuadraPay we specialize in providing credit card processing solutions to merchants in the head shop industry, and we have been doing so since 2016. Our services are extremely beneficial for merchants who have been rejected by mainstream credit card processors. We believe in offering competitive rates to merchants in high-risk industries so that they can not only sustain but also grow their businesses.
Features of our head shop merchant accounts
Head shops generally face extreme challenges when they try to get approved for credit card processing accounts. There are multiple reasons behind it; however, the common reasons include regulatory challenges and the reputation of the industry. However, when you work with a high-risk merchant account provider, this is not a big challenge. High-risk merchant processing for head shops is the perfect solution for businesses that are struggling to find credit card processing for their businesses. These accounts are optimized to suit the requirements of head shop companies and also comply with the industry requirements and guidelines.
With a head shop merchant account, businesses can easily accept payments from customers using well-known payment methods such as credit cards, debit cards, and other alternative payment methods like electronic checks. The ability to allow customers to make payments using their preferred payment methods can have a significant impact on the overall sales of the head shop, as well as the overall customer experience.
It’s quite common for modern head shops to sell their products both at a retail location and online. With a head shop merchant account, businesses can securely accept transactions online and at the store, which helps expand the reach of the company to customers beyond the local area.
An experienced head shop merchant account provider is highly skilled in understanding the legal regulations and various restrictions that must be adhered to when underwriting merchants from this industry. The merchant account provider implements various measures to mitigate fraud, chargebacks, and other potential legal issues. All these benefits the business in operating smoothly and remaining compliant with relevant laws and regulations.
QuadraPay is an experienced Head Shop Credit Card Processing Solution Provider.
With the growing demand for various head shop products like vape, electronic cigarettes, paraphernalia, bongs, and hookahs, the demand for Headshop merchant accounts has significantly increased. While the laws related to head shop businesses vary based on country to country and state to state, many jurisdictions do allow head shop retailers to fully operate as a business. We work with highly experienced high-risk merchant account providers that help merchants from the head shop sector in obtaining a smooth credit card processing account.
We also ensure that these solutions do not restrict the merchant in terms of sales volume and other limitations. However, it is important to know that these solutions are typically a little bit more expensive than conventional credit card processing solutions like PayPal and Stripe. It is also worth noting that low-risk payment solution providers like PayPal and Stripe generally refrain from working with merchants from the head shop sector.
It is time for you to approach QuadraPay and let us know a few things so that we can immediately start working with you. At the start, we would need to know your website where you wish to sell the product, along with where your company is incorporated and what kind of sales volume you are expecting. You can simply provide us with this information by filling out the form on our website, and one of our representatives skilled in working with head shop merchants like you will contact you as soon as possible.
Rates and Fees for Head Shop Payment Processing
At QuadraPay, in most cases, we guarantee that we will either match or beat your existing pricing that you pay to your current credit card processing company. Merchants generally qualify for an interchange-plus model rate; however, a proper quote is only provided after evaluating the merchant’s complete risk profile.
In general, a head shop merchant pays a fixed percentage on each transaction, known as the Merchant Discount Rate. Additionally, for using the gateway, the merchant also pays a fixed amount on each transaction, known as the gateway fee. We generally waive any setup charges or annual fees as we believe in offering competitive pricing to our head shop merchants.
With our head shop payment processing solution, businesses can accept payments from customers in multiple currencies. This is made possible by utilizing technology called dynamic currency conversion, which converts the pricing on the head shop website into the home currency of the user.
KYC Documents for Head Shop Merchant Accounts
Every merchant undergoes an application process, wherein the business is expected to submit a set of documents to the Merchant account acquirer for proper evaluation. In the case of head shop merchant accounts, these documents include the business registration documents and identification proof of all the directors. To validate the address proof of the business entity, utility bills are also required. Additionally, to ensure that the Merchant receives settlements in the correct business bank account, confirmation of the bank account details of the Merchant is necessary.
One of the most important documents for head shop merchants is the proof of inventory, which can be the invoice of purchased products or a supplier agreement confirming that the Merchant has available inventory. Along with these documents, the underwriting team may also request additional documents, as the requirements for KYC for head shop businesses keep changing. Merchants are expected to provide these documents along with the merchant account application form for faster processing of the application.
Approval Timeline for Head Shop Credit Card Processing Account
The approval timeline for a head shop credit card processing account depends on two factors. The most important factor is the willingness of the Merchant to provide all the documents in the shortest timeframe. If the Merchant is serious and provides all the required KYC documents promptly, as well as incorporates the modifications on the website as requested by the underwriting team, this can significantly reduce the approval timeframe. Another factor that plays a crucial role in the approval timeframe of a head shop credit card processing account is the availability of the Merchant processing solution and the availability of the underwriters. In the case of QuadraPay, we have multiple payment solution providers that work with head shop merchants, so we are confident that we can provide you with a head shop credit card processing account in a very short timeframe.
FAQ Head Shop merchant Accounts
What is the MCC for Head Shops?
The Merchant Category Code (MCC) is a four-digit number assigned by the Merchant acquirer to the underwritten business for categorizing the business according to the card brands. The MCC code clearly defines the category in which the Merchant falls based on the products or services sold. The Merchant classification code for head shops is MCC 5993.
Merchants classified with the MCC 5993 category code generally sell cigarettes, tobacco, electronic cigarettes, pipes, and smokers’ supplies. The subcategories of businesses that generally fall into this merchant category code include pipe shops, tobacco shops, and smoke shops.
Keep in mind that there are many other factors that a merchant account underwriter and the acquiring company will consider to categorize your business into a specific merchant category code. This includes the type of products that the Merchant is selling, as well as how the payment processor categorizes the Merchant. Therefore, it is important that merchants confirm their merchant classification code to ensure proper categorization.
Do you provide Credit Card Processing Services for physical head shop stores?
Absolutely! If you have a regular brick-and-mortar store where you sell head shop products, then we can certainly provide you with a high-quality credit card processing solution for card-present transactions. We offer highly advanced credit card terminals that easily integrate with your point-of-sale systems. You can either purchase these terminals with a one-time payment or rent them, depending on the country of your business registration. Our credit card terminal solutions may vary based on availability. Contact us today to learn more about retail credit card processing for head shops.
What are some good POS systems for smoke shops?
Some of the most popular POS systems for smoke shops include Quickvee, NRS Plus, Korona POS, MT POS Retail Cloud, and Acadia POS.
