HIGH RISK MERCHANT ACCOUNT SPECIALISTS
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In June, the FDA has issued warnings to eight on-line networks that run 53 pharmaceutical websites for advertising unapproved opioid drugs, threatening police action and worse, perhaps imposing embargoes. For online pharmacy and nutraceutical retailers, along with internet merchant account chips that supply the payment solutions for this, the warnings issued to these 53 pharmacies must be heeded. According to a webinar titled, Pharma & Drugs at 2018: An Update in G2 and the NABP, the U.S. Food and Drug Administration and the Drug Enforcement Agency are said to start paying closer attention to the sale of certain types of drugs and remedies. The web seminar was presented by G2 Web Services, a hazard intelligence solution provider, and was presented by Lianne Sanders, Customer Services Manager in G2, and Marty Allain in the National Association of Boards of Pharmacies.
Ms. Sanders and Mr. Allain provided some disconcerting figures during the web seminar
A)100 percent: Percentage of the 100 websites selling medications to U.S. Consumers which are operating illegally in some capacity, based on a 2017 report.
B)54 percent: Of the NABP assessed online pharmacies that sell controlled substances. 35, 000 amount of drug sellers online, not such as the dark web.
C)96 percent: Among those 35, 000 which are unlicensed and operating.
Opioids: little surprise, the opioid crisis carries on to rage in the US, and federal regulators continue to play watchdog on the internet sale of opioids. The feds are seeing over pharmacies, but they are also closely and thoroughly inspecting shipping partners and merchant account processors who’re, probably unknowingly, offering their solutions. Transaction laundering is rife in the online sale of opioids contributing to the crisis.
Homeopathic medications: The online sale of homeopathic medications, likely to be manipulated for sales retailers and pharmacies targeting children and elderly citizens – those more than likely to be manipulated for sales.
Topical remedies: Online pharmacies seeking internet merchant account processing must stray from 3 red flags, and merchant service providers are advised to steer clear lightening/whitening, anti-aging, and eyelash development – since the majority of those topicals aren’t FDA approved. Merchants not revealing red flag, and merchant service providers are advised to steer clear red flag, and merchant service providers are advised to steer clear.
Research chemicals and peptides: when they exhibit the following characteristics, said G2: Advertisements in construction merchant account chips are smart to stay away from retailers promoting research chemicals and peptides when they display the following characteristics, said G2:
1) Advertisements in online bodybuilding forums.
2)Amount of product offerings.
Injectable medications: Injectable medications and drug kits are seldom available without a prescription – at the U.S. Or globally. Injectable medications aren’t only illegal, but quite dangerous. Merchants are doing so illegally.
For online pharmacies that conduct their businesses legally and legitimately with the proper licensing and certifications, IpayTotal Ltd leads all internet merchant account processors with a breadth of reliable merchant services solutions and helps your business to accept payments online.
Specifically, with prospective pharmaceutical and nutraceutical merchants, we prefer to have one to one interaction to discuss your business model and which of our pharmacy merchant account solutions might be the best fit.
iPayTotal merchant account solutions are customizable and ideal for any legal pharmacy business. For more information on how you can apply for an online pharmacy merchant account, call us directly at +44 800 776 5988 or get in touch with us through our website.
May 24, 2019
May 21, 2019