FDA on New E-Cigs: Electronic Cigarette Merchant Account

FDA on New E-Cigs: Electronic Cigarette Merchant Account

The global e-cigarette or electronic cigarette market is projected to reach $26.839 million by 2023. This will be up from $8.610 million in 2016, thus accounting for a CAGR of 17.4% from 2017 to 2023. The Food and Drug Administration (FDA) is investigating whether dozens of e-cig products aren’t violating laws when being sold. The answers to this question and also how to obtain a reliable and affordable electronic cigarette merchant account are found below.

E-Cig Market: Electronic Cigarette Merchant Account

Electronic cigarettes are marketed as e-cigs, e-cigarettes, electronic nicotine delivery systems, vaporizer cigarettes, and vape pens. According to a variety of smokers, e-cigs enable users to stop smoking or avoid smoking too much.

The so-called Juul e-cigarettes are currently surging in popularity among US teenagers. The FDA is taking some steps to fight the situation. It’s important to note that Juul Labs Inc’s share of the e-cig market has already jumped top over 70%, which is up from 13.6% in early 2017. The data is provided by Wells Fargo.

According to an FDA rule, the sale of new e-cig products was banned after August 2016 without regulatory approval. Based on a September report by Reuters, new and major tobacco companies launched over 12 new high-nicotine electronic cigarette products (something like the popular Juul devices) after the FDA’s deadline

Are you an e-cig merchant interested in growing your business? To open a secure and low cost electronic cigarette merchant account, it’s critical to work with only a respectable merchant account provider that specializes in the high risk space.

FDA on Electronic Cigarettes

Undoubtedly, new electronic cigarettesare becoming widespread worldwide, and teen vaping has spiked recently as well. The US Food and Drug Administration has sent letters to 21 electronic cigarette manufacturers for the purpose of getting information that could help the agency to find out whether the products are being marketed legally or not.

The letters have been sent to companies such as Reynolds American Inc, a unit of British American Tobacco Plcmaking the Vuse Alto device. According to a spokesman for British American Tobacco, the company will provide the necessary information to the FDA, showing it does nothing illegal.

Moreover, the FDA has also sent letters to Fontem Ventures, a unit of Imperial Brands Plc, to get information about its myblu e-cigarettes. Also, the agency has sent letters to smaller companies such as Kandypens, Myle Vapor and VGOD.The representatives for these companies haven’t made any comments yet.

According to the FDA, the agency has asked 21 manufacturers and importers to provide information on whether over 40 products were on the market before Aug. 8, 2016, or not. Products introduced or changed after the mentioned date must receive FDA clearance before they could go on sale.

Public health groups have been proactive to urge the FDA to take measures against what they say are new products that’re without any FDA clearance. If the agency finds out that the electronic cigarettes were introduced after the deadline, companies could be charged fines or be required to take back their products from store shelves.

Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that offers an exceptional electronic cigarette merchant account, and other merchant services. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.