Do you need a merchant account for an online pharmacy?

Have you been declined by other providers?   

We can help your business get the best pharmacy merchant account today!


Card payment facilities for pharmacies  

because your business deserves GROWTH

Do you need a merchant account for an online pharmacy?

The number of pharmacies in the UK rose from 46000 to 61000 between 2010 – 2016 ( proving a steady increase within the industry.Online pharmacies are a popular way to get the drugs you need without having to make an extra stop after the grocery store. The pharmacy industry has recognized this as an ever-increasing number of merchants are moving online in the pharmaceutical business. But, securing the best pharmacy  merchant account or an online pharmacy remains a tricky task as banks are quick to label such a business as “high risk.” Due to regulation from the Food and Drug Administration, the chargeback risks, and the confusion on the parts of the customer regarding prescription drugs, traditional payment processing providers turn away from opening a pharmacy merchant account.

When it comes to merchant accounts related to pharmacies these fall into two categories;

  • Face to face advised sales given in brick and mortar shops
  • Online pharmacies, which have become more popular over the last
    decade, providing a quick and easy solution for patients without having to
    physically visit a doctors surgery.

The popularity of online marketing has engendered a great competition between eCommerce businesses. To win this competition and to attract a greater number of customers a merchant must provide online shoppers with all possible conveniences and advantages of online shopping. Except providing them with affordable and quality products, you must be able to offer convenient and secure payment methods. When shopping online the majority of people want to pay for the ordered products without living their homes or offices.

If you operate an online pharmacy store and are looking for the most convenient way of accepting money from customers, you must open an online pharmacy merchant account. An online payment processing solution will help increase customer satisfaction, as will allow you to accept online credit and debit card payments. Satisfied customers tend to make more purchases.

Medical pharmacist woman.
Medical physician doctor woman over pharmacy background.

Credit Card Processing for Online Pharmacies – High Risk Merchant Services

Why are Pharmacy Merchant Accounts considered high risk?

Online pharmacies are seen as a much higher risk than physical shops, the reason for this is the high amount of chargebacks experienced within the industry. This is due to the fact that when a patient places an online order the payment is authorized but not actually charged until the medical information has been reviewed by a fully qualified doctor. Payment processing for the pharmacy industry is considered high risk. By establishing a pharmacy merchant account with iPayTotal Payments and one of it’s direct acquiring banks or third-party solution providers, your customers can accept Visa and other card types in multiple currencies such as USD, EUR & GBP. Other currencies might be available on request.

Online pharmacy businesses are high risk. However, as pharmaceutical companies and other retailers get more and more involved in the industry, the latter acquires more legitimacy.

To enjoy good profit, online pharmacy merchants should adopt successful eCommerce management, and deliver genuine products, high-quality customer service and competitive rates to online shoppers.

A nutraceutical product can be characterized as an isolated or purified product that has a positive physiological effect or can fight chronic diseases. Nutraceuticals are as follows: dietary supplements, sports drinks or functional beverages, and functional food.

We provide online pharmacy merchant accounts to pharmacy websites and online supplement websites (bodybuilding, herbals, dietary, enhancement, etc.). We have lots of experience in the field of high-risk merchant accounts and we know how to do best for your business to provide you with the best credit card processing rates and terms.

Every online pharmacy business should have a chance to be able to process credit cards, thus make profits. Online customers are very important assets for any business. Loosing your online customers without any pharmacy payment processing solution can be gross. We provide solutions for merchant accounts for online pharmacy businesses worldwide. Even if you have bad credit, this shouldn’t stop you getting a merchant account, though you should be prepared to put some work into the process and shop around for the high-risk merchant account services that are right for your business.

Expectations of how the pharmacy business is run and elements of client confidentiality and safety will be considered when applying for a pharmacy merchant account. Speaking to an expert is vital when applying to a pharmacy merchant provider to make sure the process is smooth and efficient – as well as giving you the best chance of getting your application right first time.

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