Sadly, many credit card processors would prefer not to work with nutraceuticals organizations. Without a merchant account, these organizations have no real way to acknowledge credit and debit card transactions. They also struggle to protect the financing they have to develop their business and take care of expenses.
There are two fundamental reasons behind this. Initially, the industry is regulated. The U.S. government directs nutraceutical organizations, which implies these organizations can’t make certain commitments about their items without having supporting clinical preliminaries. For traditional payment processors, this makes nutraceutical organizations “high risk” to work with. In order to offer processing services, a comprehensive survey of the Nutraceutical merchant account application must be done to guarantee compliance with these government directions; this requires additional underwriting due to the diligence by the credit card processor.
Second, nutraceutical organizations are powerless against high chargeback ratios. While most of the nutraceutical organizations maintain good customer relations, they are more helpless than a few industries to high rates of chargebacks (particularly those that work on the subscription-based model ). With regards to health products and supplements, very few clients will be happy with their experience or results. This makes a financial risk for the credit card processor. Thinking about the majority of this, most of the merchant services providers basically decide not to work with the nutraceutical business.
Different elements that push an organization into a high-risk category include:
- Type of Industry
- Business Size
- Credit Card Processing History
- Credit History
- High Chargeback Ratios
- Whether a Business Exclusively Operates Online
- Business Location
Types of Nutraceutical Merchant Accounts
Different providers, on the other hand, have ventured in to fill this void. Seeing this industry requirement, high risk merchant provider like iPayTotal.com offer nutraceutical merchant account customized to meet these organizations particular needs. At iPayTotal, we know that nutraceutical merchant accounts are difficult to find. We offer our immense range of aptitudes and learning to help guarantee that nutraceutical entrepreneurs and their organizations have the specific best choices by offering reasonable rates and brilliant software, security, and terminals.
With iPayToTal, you secure a full suite of merchant account options, including:
- Retail – This choice permits your nutraceutical organization to acknowledge face-to-face credit and debit card payments by means of a credit card machine or point of sale system.
- Mobile – A merchant account that empowers you to acknowledge in-person payments via a credit card swiping attachment that rapidly connects to your iPad or mobile device.
- Virtual terminal – This option empowers you to acknowledge payment via phone, by means of mail, or by means of your PC.
- E-commerce – An Online platform will help you to take your nutraceutical business to the next level by offering products online through your website
Why Choose iPayToTal
The team of experts at iPayToTal believe every business deserves a chance to develop, including nutraceutical companies. Our team has years of experience in offering solutions tailored to meet each business types’ unique needs – solutions that address each industry’s biggest challenges. With a nutraceutical merchant account, your business also gains access to other key tools and features, including:
- Online Payment Gateways
- ACH Processing
- Point-Of-Sale (POS) Solutions
- High-Volume Payment Solutions
- Mail Order/ Telephone Order (MOTO) Processing
- Built-in Fraud Prevention tool and other Prevention Programs
- Instant Check Processing Solutions
If you are looking for a reliable merchant account provider, you are in the right place, as IPAYTOTAL provides the best solutions for e-commerce businesses. We guaranty quick real-time credit card processing, top-notch services and at reasonable rates. Give us a call at +44 800 776 5988 or get in touch with us through our website.