High-Risk Payment Solution for Vape: 3 POS Providers

Have you been rejected by multiple payment processors?

You’re not alone. You’d think accepting payments would be the easy part of opening a vape shop, but unfortunately, you’re in the high-risk bracket. And even if you do find a payment processor that will help, you’ll probably have to pay high transaction fees.

Add high-risk payment processing to sourcing quality products and managing your store, and you might start feeling overwhelmed.

The good news is, there’s another option! There are systems that integrate high-risk payment processing and take the pressure off. These systems can manage your business, too!

Why You Need a High-Risk Payment Solution for Vape

When you’re in the process of opening your vape shop, your most important step isn’t inventory management or hiring staff — it’s getting all the legal stuff signed off so you can legally and safely sell to the public.

Unfortunately, vape shops have the dubious honor of being labeled as “high-risk merchants.” When it comes to banking and payment processing, there are a couple of reasons you’re deemed high-risk:

1. Vape products stir up controversy on some level. Whether it’s because of the unknown health effects or the association with age-restricted products, some payment processors want to avoid the controversy.
2. The vape industry is lumped in with categories like tobacco or drug paraphernalia by many financial institutions. There are tighter regulations and a higher probability of chargebacks.

The high-risk label might lead to high processing fees smoking your profit margins, could lead to sudden account reviews, and generally makes it difficult to get approved for payment processing.

In other words, you need a high-risk payment solution for your vape shop. Instead of just finding a high-risk payment processor, wouldn’t your life be easier if your point of sale (POS) provider partners with one?

Related Read: High-Risk POS for Vape: 3 Top Smoke Shop Providers

Hint: Yes. And we have some of the top providers to choose from.

Why POS Providers Are Critical for Your Vape Shop

Before we dive into the top high-risk POS providers, what features should you look for? POS systems feature specialized software and hardware to process transactions both online and in your physical store.

But it’s not just a cash register alternative. Today’s leading tobacco-specific POS systems offer vape shops a complete retail management package, including:

• Inventory tracking so you always have enough supplies in stock
• Built-in customer management and purchase history
• Marketing tools like loyalty programs to increase repeat sales
• Detailed analytics and reports on your sales performance
• And yes, the reliable payment solutions specifically made for high-risk vape shops

Not all POS providers are the same, however. Some POS providers won’t take on the risk. The last thing you need is to be left open to fines, theft, and regulatory issues. You also don’t need a generic POS system that can’t handle your complex inventory.

Let’s look at three top providers.

#1: Cigars POS

Cigars POS, designed specifically for tobacco and vape shops, equips your store with a suite of tools to run operations and customer engagement. Our feature-rich POS system handles:

• High-Risk Payment Processing: It supports secure and efficient processing of transactions for CBD, kratom, delta-8, and other vape shop products.
• Age Verification: Age verification tools keep you and your customers safe by ensuring compliance with legal age restrictions.
• Complete Inventory Management: Get full control over inventory with robust management features, allowing you to track and manage a diverse range of products.
• Reward Loyal Customers: Through targeted promotions and discounts, shop owners can reward customer loyalty and foster repeat business.

Other features include built-in reporting and analytics, mobile compatibility, barcode and label printing, and more!

As an all-in-one solution, Cigars POS helps vape shops improve customer interactions, secure financial transactions, and stay compliant with industry regulations.

Pricing: Use our build and price feature to create your custom setup.

#2: KORONA POS

Although they work with various industries and verticals, KORONA POS is a strong option for vape shops.

Among the features are promotions and loyalty programs to win repeat customers, inventory management with mass editing and automatic ordering, user-friendly interfaces for fast transactions, and a cloud-based architecture that lets you access your data from anywhere.

There’s also an e-commerce integration, age verification, payment options, and around-the-clock customer support. KORONA highlights that it focuses on dispensaries.

Pricing: The advanced plan starts at $69/month.

#3: POS Nation

POS Nation offers a POS system tailored for tobacco stores, with software, hardware, training, 24/7 support, and payment processing specifically designed for this industry. 

Trusted by over 10,000 customers, POS Nation provides a range of features essential for tobacco and vape shops, such as carton-pack inventory tracking, age verification, sales reporting, and analysis tools.

Additional functionalities include scan data reporting with mix and match pricing, kit building for vape products, and built-in security features to reduce retail shrinkage. 

Pricing: POS Nation offers flexible pricing plans, including a monthly subscription, a hardware bundle with a touchscreen PC and accessories, and custom build options.

Choosing the Right High-Risk Payment Solution for Vape Shops

You’re sold on investing in a POS system that partners with high-risk payment processors. You even have three top options to choose from. But how do you choose? It’s best to speak to each provider, schedule a demo of their system, and make an informed decision.

Just make sure you have the right questions ready to ask:

• Are you knowledgeable about the complex and evolving vape industry regulations?
• Can you help me understand protocols for age verification, licensing, labeling, and other compliance issues?
• Do you offer clear, competitive pricing without hidden fees?
• Is your support 24/7?
• Is your platform intuitive and easy to use?

These questions will help evaluate potential providers. At Cigars POS, we’re proud to work with vape, cigar, and smoke shop owners. We exclusively serve the tobacco industry, and our feature-rich POS system will help increase profits, check out customers faster, and streamline your operations.

Again, don’t take our word for it! Schedule a demo today and see why we’re the best fit for you.