A secure pharmacy merchant account payment gateway is required for international sale of pharmaceuticals. Every country has its own regulations on medications, types and doses, and having an online pharmacy business requires keeping detailed, yet private, records.
Internet based and start-up companies with little or no credit card processing history are considered a high risk. Additionally, certain accounts which process large volumes, like a high risk pharmacy merchant account, have a history of a higher chargeback ratio. At iPayTotal we know that this is a qualifying term rather than a reflection on the company itself. Thus we try to provide solutions which make it easy to enjoy the advantages of a conventional pharmacy, such as managing debit and credit card transactions with a real credit card processor. To be able to provide pharmaceutical services online, you have to establish a pharmacy merchant account.
However, pharmacy merchant accounts are classified as risky because of their high volume of sales. The success of every online and established business is dependent upon their capacity to process credit card payments. At iPayTotal , we specialize in working with companies just like yours. We can help you get your online payment processing account started so that your pharmacy can start accepting online payments with low chargeback rates.
Adequate payment capabilities provide efficient methods for improving profitability. When it comes to setting up a pharmacy merchant account solution for a pharmacy business , we present high risk merchant account solutions for obtaining and sustaining secure and reliable maximum benefits, including:
Convenient and Accessible
No Volume Caps
No Processing History
Bad Credit History
Virtual Terminal Access
A number of international online pharmacy merchant accounts are serving merchants that buy and sell medicines over the internet. Pharmacy merchants are among high-risk traders that are often rejected by the credit card processing services. Out of a vast majority of online services that are driving the business world, pharmacy merchants are amongst the most profitable ones.
Both in the UK and US, it’s more expensive to perform pharmaceutical trading. Profit maximization turns easier for most offshore traders. That’s one reason why most of them conduct business offshore.
The risk factor associated with this business seems to be the main cause behind rejection of their merchant account applications submitted with banks. iPaytotal with the help of its extensive banking network and payment capabilities can set you up with a payment process which actually understands your business and helps you to grow it exponentially.
WHY DO MORE PHARMACIES & DRUG STORES TRUST IPAYTOTAL FOR SETTING UP THEIR PHARMACY MERCHANT ACCOUNTS?
We’re honest. So much so, we’ll tell you if we can’t beat a great deal you’re already getting.
We’re completely transparent. We don’t hide anything in the fine print or confuse you with industry jargon.
We provide good old-fashioned customer service. You won’t be stuck in a phone tree or talk to a robot. Our Support Team is on call 24/7 to help whenever you may have an issue.
We don’t talk. We listen. You run the conversation and tell us how you want to run your business. We’ll figure out what we can do to help.
We have your best interests in mind. We don’t sell you equipment or services you don’t need. Our only motivation is to help find the solution that best fits your business.We are not only a payment processor , but a partner in your business support.
We make it simple to accept payments and get accounts for online pharmacies. As soon as you tell us what you need, we’ll do all the heavy lifting.
Whether you are an Online Pharmacy, offer Health & Wellness products or Nutraceuticals, IPAYTOTAL provides a Pharmacy Merchant Account that meets the demands and requirements of your online business, just as long as your business is legal and legitimate.
Our experts understand the requirements of your business and then offer tailor-made merchant account solutions for maximum account efficiency. We also offer a secure payment gateway for safe payment processing with multiple features including multi-currency transaction option.
With an easy payment integration, chargeback prevention measures and secure payment transactions, merchants need not worry about managing their account.
Special requirements and guidelines for a PHARMACY MERCHANT ACCOUNT :
The following guidelines are intended to minimize the risk related to pharmacy merchants. To consider a pharmacy merchant iPayTotal has the following conditions:
- Merchant only sells non-controlled substances.
Merchants should also avoid products which are intended for use under specialist supervision and avoid products which require special storage conditions.
- Prescription is mandatory for prescription required drugs.
Prescription required drug products (RX) are listed in the Orange Book of the FDA website (http://www.fda.gov/cder/orange/default.htm) However, please note that each country has different rules and regulation regarding prescription drugs.
Pharmacy merchants must clearly advise their clients that purchasing regular prescription medication over the internet is only advisable after consulting a physician.
- Pharmacy merchants must supply their customers with information regarding the drugs they sell.
- iPayTotal only offers VISA/Mastercard acquiring for pharmacy merchants.
- Pharmacy Merchants should only offer products which have been approved for use by the relevant authorities in both the supplier’s country and the customer’s country. This rule also applies for generics.
- Pharmacy license of fulfillment centers
- Contracts between the pharmacy merchant and the fulfillment center.
- Doctors license (if medical evaluation only done online)
Websites offering online consultation services of physicians must be able to produce a copy of the doctor´s license to practice in the territory they are prescribing to. This is to ensure that a licensed doctor is prescribing drugs based on the online questionnaire
- Contracts between the pharmacy and prescribing doctor (if medical evaluation only done online)
This, along with the doctor‘s license is to ensure that a licensed doctor is working with the merchant when prescribing drugs based on an online questionaire.
- List of name of generic drugs and their producers.
- List of countries they ship to and how they comply with the law of those countries.