Hello to all!
Harjo here over at Merchant Now Financial. Rather than jump on the band wagon of using scare tactics to try and gain new accounts I thought I'd help shed a little light on the subject of banks shutting off e-cig merchant accounts. It is true that several of the acquiring banks that were processing for the e-cig industry are shutting them off. These institutions include Wells Fargo, Moneris/Money Tree, First Data/FDC/1st Data Corp, and several others. The biggest reason for this drastic change in policy has to do with the fact that First Data, which is the largest processor in the world and is behind all the institutions named above and many more, is in need of cash. They have been a privately held corporation for the last 5 years and are now about to put out an IPO and go public again. When things like this happen they go through their books and get rid of anything that could look like a risk to their investors. It's a bunch of b.s. but at the end of the day that is the reality.
Now, all that having been said I've been setting up merchant accounts for 10 years and have been setting them up for the e-cig industry for over 3 years now. NO ONE is taking me or my agency out of the game. Many of you are already clients of mine and know what I say to be true but I'm still here to help out anyone that needs it. If you need a solid processing solution, not a here today and gone tomorrow solution but a permanent home then give me a call or shoot me an email and I'll get you taken care of the same as I have for over 150 e-cig suppliers. I have e-cig accounts processing over 1 million dollars per month all the way down to folks doing 1k a month. Whatever you need we can handle. Hope this post finds everyone doing well and I look forward to many more years of working with this industry.
Best Regards,
Joshua H.
866-677-9384 x 223
jharjo@merchant-now.com
Harjo here over at Merchant Now Financial. Rather than jump on the band wagon of using scare tactics to try and gain new accounts I thought I'd help shed a little light on the subject of banks shutting off e-cig merchant accounts. It is true that several of the acquiring banks that were processing for the e-cig industry are shutting them off. These institutions include Wells Fargo, Moneris/Money Tree, First Data/FDC/1st Data Corp, and several others. The biggest reason for this drastic change in policy has to do with the fact that First Data, which is the largest processor in the world and is behind all the institutions named above and many more, is in need of cash. They have been a privately held corporation for the last 5 years and are now about to put out an IPO and go public again. When things like this happen they go through their books and get rid of anything that could look like a risk to their investors. It's a bunch of b.s. but at the end of the day that is the reality.
Now, all that having been said I've been setting up merchant accounts for 10 years and have been setting them up for the e-cig industry for over 3 years now. NO ONE is taking me or my agency out of the game. Many of you are already clients of mine and know what I say to be true but I'm still here to help out anyone that needs it. If you need a solid processing solution, not a here today and gone tomorrow solution but a permanent home then give me a call or shoot me an email and I'll get you taken care of the same as I have for over 150 e-cig suppliers. I have e-cig accounts processing over 1 million dollars per month all the way down to folks doing 1k a month. Whatever you need we can handle. Hope this post finds everyone doing well and I look forward to many more years of working with this industry.
Best Regards,
Joshua H.
866-677-9384 x 223
jharjo@merchant-now.com
