What Every Vape Store Needs in a POS System
Intro: Not all point-of-sale systems are created equal—especially when you run a vape shop. You need more than just a card reader; you need control, compliance, and speed.
1. Age Verification Selling age-restricted products? You’ll need built-in ID scanning to comply with local and federal laws.
2. Inventory Tracking You’re likely managing dozens of brands, flavors, coils, and accessories. Your POS should track it all—and automate low-stock alerts.
3. Custom Pricing + Loyalty Volume discounts and loyalty programs help keep your regulars happy. Your POS should let you set custom price rules and customer groups.
✅ Clay Pay Recommendation: Our top choice for vape retailers? NRS POS with full vape compliance + loyalty integration. We’ll get you set up fast and legally.
Why Most CBD Brands Get Denied for Payment Processing (And How to Fix It)
Intro: Running a CBD business is tough—but getting approved for payment processing shouldn't be the biggest hurdle. Yet for many entrepreneurs in this space, it is. Here's why most CBD brands get denied and how to finally get approved.
1. The "High-Risk" Label CBD is still considered high-risk by most banks and processors due to federal regulation and chargeback concerns—even if your business is fully legal and compliant.
2. Mismatched Processors Square, Stripe, and PayPal often terminate CBD accounts because their policies restrict hemp or cannabinoid-related products. These platforms weren’t built for you.
3. Incomplete Documentation A surprising number of CBD business owners don’t submit lab results, product COAs, or a clear terms of service—leading to instant denial.
✅ The Fix: Work with a processor who specializes in CBD. At Clay Pay, we know exactly what underwriters are looking for and get most CBD brands approved within 48 hours.
The Merchant Statement
It all begins with an idea.
The merchant statement, sometimes known as the processing statement, is a business owner’s key to understanding the cost of a non-negotiable portion of their business. In 2024, if a business owner does not accept credit cards or tap to pay, their sales could potentially plummet.
Given the importance of a credit card machine, it’s understandable how some merchant service providers can become greedy and charge exorbitant fees. That's why it's crucial to understand the fees associated with accepting payments. There are three essential components that a merchant statement should have. If it doesn't, it's a red flag that your provider may not have your best interest at heart. A merchant statement should include an itemized summary of charges, a detailed transaction breakdown, and a deposit summary.
Lastly, don’t be afraid to get a second opinion. When an agent cold calls or walks into your store, let them analyze your statement. Bring that analysis to your current rep and let them compete for your business. Whoever offers the best deal earns your business.
By ensuring your merchant statement is transparent and getting competitive quotes, you can keep your payment processing costs in check.
Next Week we will discuss how saving money is not the only factor in choosing a vendor…