There are two main reasons for this. An application is submitted along with along additional information about your business. As a result, Nutraceutical businesses face various challenges in payment processing, including fraud attempts, high chargeback rates, and the need for advanced fraud prevention mechanisms. Built-in virtual terminal. The process may take up to 6 months, with an initial registration fee of about $10,000 for the first year, and $5,000 for the following. If there were ways to fight aging, promote sexual health or achieve weight loss without surgery or prescriptions, wouldn’t you? This is the premise on which nutraceutical companies operate – that most people want to improve their health, but may not want to undergo medical procedures or take medicines with chemicals they don’t trust. A nutraceutical merchant account is a custom-made bank account for businesses in the nutra space. Processing History for Stripe, Square, and PayPal. The main drivers of this growing demand include increasing health concerns as well as changes in dietary lifestyles. The rapid expansion of the nutraceuticals industry –food and drinks with possible health advantages – is driven by current shopper trends. Most businesses have issues taking off, but when that business is labeled as “high risk”, the problems mount even higher. Let us get you set up today. This allows the acquirer to offer payment services to their clients. It ensures that customer payments are processed securely, protecting both the customer and the company. Based in Lindon, Utah, National Processing is a merchant account provider that serves both standard-risk and high risk merchant sectors. What you need to look out for is getting locked in a long term contract while you are still on the first step and. Keep in mind while seeking the help of any firm to setup a Nutraceutical payment processing account, be aware of predatory processing. To get a merchant account, one must submit an application with a merchant. Our very lucrative affiliate program is unlike any others. 800. But despite providing. EMB has partnered with Shopify to meet your payment processing and merchant account needs. 3 billion in 2022, and is expected to grow at a CAGR of 8. Build good brand partnerships with influencers. The right merchant account and payment processing solution is essential for any online business — it's even more critical for nutraceutical businesses, where reliability and brand reputation are crucial. Merchant Solutions. and civil and criminal history. Virtual terminal merchant accounts include unlimited virtual terminals. A nutraceutical merchant account is a type of merchant account that is specifically designed for businesses that sell nutraceutical products, such as dietary supplements, vitamins, and other health-related products. To get a merchant account, one must submit an application with a merchant account provider. But while the industry continues to gain legitimacy, and an eager public continues to purchase nutraceuticals every day, we have to wait for regulations to catch. Choosing the appropriate solution for merchant account processing is a critical decision for businesses. Like many other companies that are classified as “high risk” by lenders, nutraceutical companies have uphill battles when they seek nutraceutical company merchant accounts. A provider of high risk merchant services since 2001, Instabill is offering additional payment processing options for nutraceutical merchant accounts. Accepting checks requires using the customer’s bank routing number and checking account number to debit funds without a physical check present successfully. Business funding options. It is a virtual representation of a physical shopping cart, where customers can add products they want to buy and keep track of their order before checkout. In general, merchants with a bad credit merchant account will need to demonstrate a track record of successful credit card processing and a good. Once a high-risk nutra merchant account is approved, payment processors set monthly processing limits, typically between $25,000 and $100,000 per month, for the first three-to-six-months. We at EMB know the trials and tribulations that those in the nutraceutical industry can face, and we will not judge or punish your company for it. They also struggle to secure the financing they need to grow their business and cover costs. Once a high-risk nutra merchant account is approved, payment processors set monthly processing limits. The main types of payment processing services include: ACH (eCheck) Check 21. In fact, many banks have. Our CBD merchant services cover Cannabidiol, Hemp & CBD Oil considered high-risk merchants. . Here’s how our reliable and specialized payment processing solutions can give your business the confidence to scale quickly: 25+ Acquiring Banks to Choose From; Dedicated and Responsive Payment Experts; Flexible and Scalable Merchant Accounts; Chargeback Reduction Solutions; Set Up Your Nutraceutical Merchant Account Today. – Sex Toys. Nutraceutical Products Credit Card Processing. Choosing an ideal payment gateway for your nutraceutical company whittles down the risks that come with processing. A high-volume merchant account is a merchant account that is specifically geared towards merchants who have a higher than normal volume. Our typical turn-around time is 3-5 business days. One of the riskiest is the nutraceutical industry, which affects most consumers on a daily basis. – Adult Magazines. Once a business hits a ratio of 0. High Risk Nutraceutical Merchant Accounts. As a result, it may make banks hesitant to approve merchant. Oct 17 -- 6 In today’s dynamic landscape of health and commerce, the convergence of NMN, nutraceuticals, and merchant payment processing is reshaping the way we approach wellness and business. High risk merchant. Most banks in the world dread dealing with nutraceutical industry. NACHA , which operates the vast ACH network within the United States, doesn’t set the interchange fees associated with ACH payments. lately, this could cause a swift decline of nutraceutical imports and put a major dent in some or all industry profits. Adding secure bank transfers as a payment method on your checkout page boosts profits with no risk of chargebacks. 51 billion in 2022 and is expected to reach a whopping $722. Quick Client Access. Some storefront and MOTO businesses use payment. A merchant account is a specific type of bank account that allows merchants to accept payments. Your company is growing and needs another merchant account. The underwriting team scrutinizes the merchant’s financial history, credit score, business model, and other factors to determine the risk involved. NPC (National Processing Company), a Vantiv company, is a leading provider of innovative payment processing and technology solutions. residents have become more focused on preventative health and are willing to spend a lot of money on vitamin supplements and other nutraceutical items. When Instabill representatives are approached about a nutraceutical merchant account, we don’t mince words. Due to larger numbers of chargebacks, increased fraud allegations by customers (legitimate or not) and the lack of a regulatory system in place in the nutraceutical field, banks and credit card processors consider the nutraceutical industry to be very high-risk and are often unwilling to provide business owners with their much-needed merchant. We get nutraceutical merchants approved when other processors decline. Most of the account providers follow a two-step approval. This is particularly true for nutraceutical companies that need to harmonize customer needs while operating in full compliance with industry laws and regulations. Nutraceuticals are divided into three distinctive categories: functional food (probiotics, nuts, tomato products, yogurt), functional beverages (sports drinks), and dietary supplements (vitamins, minerals. This gives processors time to develop a customer risk profile by evaluating payment flows, average ticket sizes, processing levels and chargeback ratios. The company’s products include ACH processing, an online payment gateway, merchant cash. Bank account verification: Decreases return rates. Nutraceutical products are normally classified as high-risk. EMB is recognized as one of the most experienced high risk providers in the industry. By SecureGlobalPay | September 13, 2021. It takes just a few minutes to complete. Cross-border transactions are also a risk factor and can make it difficult to obtain a merchant account. Our Internet merchant account services provide businesses with the reliability and security to run smoothly and thrive over the Internet. To get a merchant account, one must submit an application with a merchant account provider. Get Started Today. Merchants can begin by filling out EMB’s fast online application. If your online store needs a stronger merchant and payment. Hard to Place Merchant Accounts; Credit Card Processing; Credit Card Surcharging; Payment Processing; Wireless/Mobile;. Our highly skilled team has merchant accounts for businesses with processing volumes ranging from $20,000-$100,000,000 and up per month. If chargeback rates are low, it is a good thing,. Nutraceuticals (also referred to as nutra) is a growing industry in the United States and worldwide. Pharmaceutical and nutraceutical goods sold online are wide-ranging. A government-issued ID like a state-issued driver’s license. Offshore Nutraceutical Merchant Accounts (with payment processing history): iPayToTal requires 3-6 months of payment processing statements displaying your company name as well as total sales, chargebacks, refunds, and returns. Increase revenue and patient loyalty. 2. Performance Card Service (PCS) provides herbal supplement merchant account services and other payment options to keep your business as healthy as the products you sell. Reasonable processing rates. Other products and services considered high risk. Contact us today to discuss your needs, and we’ll provide you with a more accurate estimate based on your specific situation. com. Their applications for opening such an account may be rejected or they may be offered to pay high charges to cover the potential risks of the bank. One such option is eMerchant Authority which offers bad credit merchant accounts that your business needs to be able to receive payments. From account management software and CRMs to accounting applications, we can link into them all with just a click of a button. Unfortunately, many credit card processors do not want to work with. Typically, a merchant account is used for credit card processing and eCheck processing but can be used for a variety of payment processing needs. For this, the merchants depend on credit card payments from customers to make money and support growth. That means more risk, to your business and to. Supporting documents include: ID for the signer on the account; business bank statements; payment processing history; and details about the business entity. audience that continues to be extremely health conscious is the baby boomers. The whole process can be completed in as little as 48 hours between application to processing payments. That’s where we come in. customer history vault, and the most efficient Nutraceutical Merchant Account available in our industry. Why Join NMA? NMA Member Benefits; From Our MembersSix steps one should make to open a nutraceutical merchant account: 1. The U. Credit card companies charge payment processing fees for each ecommerce transaction. Better skincare. #1 eMerchantBroker Top Pick for Kratom Credit Card Processing. No longer will customers call to purchase or. Along with the application, merchants will need to submit the following items to. Ideal for businesses with a wired internet connection and a traditional storefront, these sales typically have the lowest fraud and chargeback risk and are therefore. This gives processors time to develop a customer risk profile by evaluating payment flows, average ticket sizes, processing levels and chargeback ratios. Getting started takes one minute Zenti was referred to me by my developer. A virtual terminal is a web-based application and requires no additional software. Other products and services considered high risk. Nutraceuticals and supplements aren’t exactly “conventional”. In some cases, it is a planned and intentional act of fraud, but in other cases it may be something like “ friendly fraud . Among the fees our merchant partners can expect to pay, contingent on the acquiring banking solution we arrange, include: Discount rate; Transaction fee; Merchant account feeWe offer high-risk merchant accounts in a variety of industries. These supplements have experienced problems due to their use as a muscle-building steroids. A merchant account for bad credit can, therefore, be opened for low and. This is why, although nutraceuticals and dietary supplements have become a hot industry, they are a closely watched one. Call: 03 8592 0511 Call: +44 20 3670 1774 Given there are a lot of rules in the credit card processing industry these days, it may become difficult for legitimate nutraceutical and pharmaceutical sales companies to secure a functioning merchant account. In general, nutraceutical start ups experience a lot of chargebacks. Payment processing for high risk nutraceutical merchant accounts are in high demand. A Canadian merchant account is a specific type of bank account that allows merchants to accept payments. Nutraceutical Merchant Accounts 2018. Soar Payments: Best for. This type of merchant account allows businesses to accept credit and debit card payments from customers and process them securely. Due to regulatory and compliance concerns, these businesses face challenges in finding suitable merchant accounts and payment gateway solutions. A high-end reward card will charge a higher fee than a standard, no-rewards card. This includes the sale of Supplements, Vitamins, Herbs, and other Nutraceuticals, that may be considered High-Risk by some payment processors. The process may take up to 6 months, with an initial registration fee of about $10,000 for the first year, and $5,000 for the following. That timeframe can vary based on your business and your credit history. Nonetheless, experienced payment companies. and civil and criminal history. The Florida-based merchant account provider, Allied Payments is capable of serving most domestic high-risk business types. Companies that offer pharmaceutical alternatives struggle to obtain nutraceutical merchant accounts because the industry still struggles to find. Other benefits of Nutra products are: Improves sleep. 252. regulations that dictate other. OLD processing history. This tends to be a point that most nutra companies forget to address because they get comfortable with the payment processing company they work with; that should not be the case. With. Applying for a nutraceutical merchant account requires. Get more volume quickly. The typical per transaction range is $0. Straightforward, simple set-up. If your business has a brick-and-mortar. In this article, we focus on that, analyzing what a nutraceutical merchant account is. As specialists in high risk payment processing, we have the industry relationships necessary to help you obtain or improve. Without a mer. The payment processor (private corporation or banks) give the final approval of your account. Various payment methods, such as credit cards, debit cards, and other options, can be used for processing. An appropriate label of contents is a must. As our staff at FintechMerchantAccounts conducted our research on the nutraceutical industry (” Nutra”) we found that it is estimated to grow to a staggering $671 billion by 2024 worldwide. Credit and Debit Card Payment Processing, Merchant Account. It’s time to upgrade or switch your nutraceutical merchant account and focus on these new marketing techniques for 2021. net is a payment gateway company that provides payment processing options for businesses, especially small and independently-owned businesses. Nutraceutical Merchant Account | Payment Processing for Nutra Industry Ready to Get Approved? Get Started Today! What is a Nutraceutical Merchant Account? Any. After decades of processed foods and unhealthy habits, nutraceuticals and the plant-based food revolution is gaining traction, though many are wary of medicinal uses of some of these products for a variety of reasons. Among the fees our merchant partners can expect to pay, contingent on the acquiring banking solution we arrange, include: Discount rate; Transaction fee; Merchant account feeA head shop merchant account is a payment processing account set up exclusively for head shops. In fact, it is not uncommon for a nutraceutical merchant to have a chargeback ratio in excess of 2%. 70 70. And they often increase the chance that their merchant account will get shut down. Ways that nutraceutical companies can get their credit card processing in order. Incorrect data entry is the single most common cause of returned transactions. Yet the reality of the situation is such that these natural and synthetic supplements and drugs, used primarily. A merchant account is a specific type of bank account that allows merchants to accept payments. While products change, one thing that stays the same is the hassle of locating a nutraceutical merchant account provider. NMA investigates the Nutra firm and evaluates its payment processing history. This is where nutraceutical is seeing a positive increase in the potential; the name is from a mix of the words nutrition and pharmaceutical and whilst it is supplements, extracts of actual food, it has no restrictions like the rules governing medicines, making a perfect business opportunity. net offers credit card payment services for more than 430,000 merchants, including merchants that could be categorized as high-risk. 50. Traditional financial institutions may be wary of the industry's high-risk label, making it essential to seek out merchant accounts specifically tailored to the needs of nutraceutical e-commerce. Nutraceutical merchant accounts from High Risk Credit Card Processing Accounts. Despite the. The Smart Drug Industry. They easily fall under the ‘High Risk’ category, but the opportunities of getting a huge market keep up the interest at a high degree. What is a High Risk Merchant Account? Merchant Accounts for businesses are classified as risky for many reasons, including brand new business, poor credit history, operates in a high risk industry, processes a high volume of transactions or high ticket transaction values. Health experts attribute the nutraceutical boom to a rising health and fitness awareness in the. What Is Required for Firearms Friendly Merchant Services? For gun shop merchants to operate online and qualify for firearm friendly credit card processing, you need to submit the following required documents: 1. A virtual terminal connects to a secure payment processing gateway. This is because of strict guidelines for processing credit card payments that go beyond the requirements of most other industries. Nutraceuticals are highly regulated products that require specialized payment processing solutions. Or Call: 800-993-6300. We keep your money safe, so you can keep doing what you love. The reason is that there is a growing interest in health and wellness, and the demand for dietary supplements is increasing rapidly. Reduced chargebacks– We are a reputable high-risk processor that offers a chargeback management system to all our customers. These limits are typically between $25,000 and $100,000 per month. Merchant Portal; Payment Gateway, Payment XP; FAQs; 1. One of the riskiest is the nutraceutical industry, which affects most consumers on a daily basis. Get approved for your nutraceutical merchant accounts! Learn MoreUniBul’s Nutraceutical Merchant Account. Traditional merchant accounts can be expensive and slow so you may consider an alternative solution. Most credit card processors are unable to commit staff to continuous platform surveillance. What Merchants Say. Our 99% approval rate ensures that even the most difficult business types or those with a history of bad credit – will find the best solution for their business. So, the cost of ACH processing depends on the payment processor you use. An EMerchant Authority nutraceutical merchant account allows you to accept all credit cards, meaning you can sell your nutraceutical products to customers from all over the world. This gives processors time to develop a customer risk profile by evaluating payment flows, average ticket sizes, processing levels and chargeback ratios. Complete, Secure Payment Processing Solutions. Look for vendors that use language stating they are friendly to your business. Request a Free Consultation! In case you have any queries, feel free to call us on 844-643-5464 or write us at [email protected]. Unfortunately, many credit card processors do not want to work with nutraceuticals businesses. This labeling has made applying for and approving a merchant account difficult. Here’s how to set up a fat-soluble Nutraceutical store. To get a merchant account, one must submit an application with a merchant account provider. In the realm of high-risk payment processing, few sectors face as many challenges as the nutraceutical industry. Unfortunately, many credit card processors would lean toward not to work with nutraceuticals associations. When your assigned underwriter approves your account, you can start processing payments right away. Identify a niche. International nutraceutical merchant accounts are approved 7-14 days after the application file has been received and verified. See full list on secureglobalpay. Merchant Processing News|nutraceutical payment processing|nutraceutical stores|payment methods|POS systems. Terms like “processing for free trial merchants,” “fraud prevention” and “lower chargebacks” may indicate that they are equipped to handle the special challenges that your industry. Payment processing companies have fixed jurisdictions for merchant acceptance, and. Host Merchant Services: Best for large high-risk businesses. Nutraceutical merchant processing history is also an important part of underwriting procedures with plenty of attention given to chargeback ratios. You’ll earn a 20% commission on anyone you sign up, that starts processing payments with Easy Pay Direct. , with eMerchant Authority. – Webcam and Live Video Streaming Sites. Mobile. eMerchantBroker has also received 12 informal reviews from merchants, with 10 of them positive in tone and 2 which are negative in tone. This means that this hold back percentage is taken out of each credit card sale until your allowed monthly volume is met. If you have started up more recently, provide what you have since the start. Get the processing capacity you need to manage & grow your nutraceutical business. (801) 829-9495 Apply Today A Comprehensive Guide to Nutraceutical Products and Securing a Merchant Account for Payment Processing While the process of securing a. To get a merchant account, one must submit an application with a merchant account provider. Gain access to an extensive network of domestic and international banks to satisfy your processing needs. Increase your nutra merchant account stability with the right merchant account adviceBy taking these steps, you can find the best nutraceutical merchant account providers that best suit your business's needs and helps you navigate the complex regulatory landscape. Rich Cloud Reporting. The MasterCard SecureCode is a 3D Secure program adopted by MasterCard for the security of its customers. From a merchant account, the merchant can withdraw the funds. The types of businesses approved for merchant services can vary between the different merchant-acquiring banks. This includes wrinkle creams, dietary supplements in powder form, and libido. Instabill’s new option for. Nutraceuticals tend to prolong the aging process, increase life expectancy, foil chronic diseases, and generally improve our wellbeing by boosting the functions and performance of the human body. Each nutraceutical merchant account is different. But in exchange, the fees are usually higher. Reliable Payment Processing: With a high risk merchant account, a credit repair agent can ensure reliable and secure payment processing. Nutraceutical Merchant Accounts; Pharmacy Merchant Accounts; Ticket Brokers; Travel Agency Merchant Accounts; All High Risk Merchant Accounts (877) 441-6801; Apply Today! Back. Check processing, ACH and direct debit;Host Merchant Services: Best for large high-risk businesses. Once funds have cleared into your merchant account you can then move this into your business account. You fill. One-time & Recurring Payments. com. 3. A Nutraceutical Merchant Account Application may be to risky if: Accounts with a negative checking account balance are problematic. Here’s how our reliable and specialized payment processing solutions can give your business the confidence to scale quickly: 25+ Acquiring Banks to Choose From; Dedicated and Responsive Payment Experts; Flexible and Scalable Merchant Accounts; Chargeback Reduction Solutions; Set Up Your Nutraceutical Merchant Account Today. A Hold Back, also known as a reserve, is a pre-determined amount that is set on some types of merchant accounts. All this being said, having the proper card payment processing services for the sales of these products must be done via a high-risk merchant account. To comply with the FDA’s guidelines, nutraceutical companies must first apply for a high-risk nutraceutical merchant account. Having a merchant account is essential for receiving funds from a payment processor. An EMerchant Authority nutraceutical merchant account allows you to accept all credit cards, meaning you can sell your nutraceutical products to customers from all over the world. Lesser food cravings. From a merchant account, the merchant can withdraw the funds. An ACH merchant account allows businesses to receive. 1. Typically, a merchant account is used for credit card processing and eCheck processing but can be used for a variety of payment processing needs. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway. A nutraceutical merchant account allows these merchants to not only secure the credit card processing services they need, but also take advantage of. Considering what has been happening in the U. This is because of strict guidelines for processing credit card payments that go beyond the requirements of most other industries. On average this is 5+ years!CBD oil boasts of many good sources including vitamin E antioxidants, magnesium, zinc, calcium, and many, many others. To setup a payment processing account for Nutraceuticals Business, there is nothing like one size fits all. At a compounded rate of 21% per annum, this dream will most likely come true. By Tony Ward April 27, 2021 2:27 amApplying for a European merchant account is a straightforward process. The Payment Experts. It’s perfect if chargebacks are tiny. ”. These products include dietary supplements, weight-loss aids, colon cleansers, skin care products and anti-aging products. Don’t let payment processing issues hold you back – contact QuadraPay today to learn more about their services and how they can help your nutraceutical business thrive. In today’s ever-changing health and business landscape, the convergence of NMN, nutraceuticals, and merchant payment processing is revolutionizing our approach to well-being and financial… This will assist in the simple acceptance of a nutraceutical merchant account. Fortunately, TailoredPay can help businesses in the nutraceutical industry find the right high-risk merchant account for their needs. net is a payment gateway company that provides payment processing options for businesses, especially small and independently-owned businesses. It is understandable that you would want to have a profitable credit repair business. In the realm of high-risk payment. 3 months of business banking statements; Approvals: 5 business days to 2 weeks; Offshore Startup. Allow 3-5 business days for approval of US nutraceutical credit card processing accounts. examining the payer’s financial history and confirming the availability of funds. According to the Council for Responsible Nutrition, 80% of Americans use some type of supplement. Offshore Nutraceutical Merchant Accounts (with payment processing history): iPayToTal requires 3-6 months of payment processing statements displaying your company name as well as total sales, chargebacks, refunds, and returns. For high-risk merchants, credit card processing online can be a challenge because of their corporate location or the industry they are involved in. So, the cost of ACH processing depends on the payment processor you use. When they are. One of our skilled high risk agents will be in touch within 1-2 business days to help explain the application and the process of obtaining a merchant account with us. Nutraceuticals Payment processing for Nutraceuticals Nutraceutical merchants online credit card processing solutions from a reliable nutraceutical merchant account. First, the industry is regulated. Signature Payments is the #1 payments company in the industry of high risk vape and E-Cig merchant accounts. High risk products are products and services that are sold by merchants who operate within high-risk industries. Best Credit Card Processing for Nutraceutical Companies . The setup time for a nutraceutical merchant account can vary based on factors like your business model, processing history, and compliance requirements. Just because nutraceutical businesses are considered high risk doesn’t mean they should be subjected to high merchant account fees. A payment gateway is a bridge between the merchant, the customer, and the issuing bank that helps process transactions. Improves gut health. The merchant can withdraw money from here. Now U. This way, merchants can play an active role in keeping a stable and reliable merchant account open and processing. Generally, our team strives to expedite the application process. We approve the accounts, manage risk, clear payments, and pay the forex merchants. No other merchant can have the same MID as you within the entire network of your payment processing provider. Secure online payments with bank transfers are like cash payments and cannot be charged back. Don’t start without identifying a target market. A Merchant ID number (MID), is a unique code assigned to a merchant by their payment processor. Get Payment specializes in offering high risk nutraceutical merchant accounts, tailored to meet the unique needs of businesses in this industry. The ACH network is a system that facilitates electronic transfers between bank accounts in the United States. New broker business echeck accounts are easily approved and set up. Implement solutions that will assist the nutraceutical industry the most. What you did 2 years ago is irrelevant for most merchant account applications. Nutraceutical Merchant Accounts; Pharmacy Merchant Accounts; Ticket Brokers; Travel Agency Merchant Accounts; All High Risk Merchant Accounts (877) 441-6801; Apply Today! Back. While the industry has operated without many regulations, the Federal Government has threatened to clamp down with online payments. Given that it greatly reduces chargebacks, merchants benefit greatly in Visa Verified transactions by getting an extra authentication factor with every transaction that go through their site. Nutraceuticals Nutraceuticals With health and beauty dominating our youth-oriented culture, opportunities abound for companies that offer subscription nutraceuticals, vitamins and free trial/continuity memberships. Nutraceutical Merchant Accounts; Pharmacy Merchant Accounts; Ticket Brokers; Travel Agency Merchant Accounts; All High Risk Merchant Accounts (877) 441-6801; Apply Today!. Our Internet merchant account services provide businesses with the reliability and security to run smoothly and thrive over the Internet. Your Resource For Merchant Services. How to Avoid Having your Nutraceutical Merchant Account Closed & TMF? Moneck Payment Solutions. This alert system helps keep. 65%, Visa will request an investigation into the cause and that an action plan be developed. When customers select a product they want to. The global dietary supplements industry was estimated at $123. One of the best solutions is a collection agency merchant. For more information or to request that one of our agents contact you in regards to a payment processing account, please fill out the form on the right hand side of the page. A merchant account is a specific type of bank account that allows merchants to accept payments. Diversify your nutraceutical merchant accounts to mitigate risk. Founded in 2012, Easy Pay Direct competes with some of the older merchant account providers available. As just mentioned, several factors contribute to the growing difficulty of gaining approval for supplement merchant accounts. One-time & Recurring Payments. net Nutraceutical Merchant Account | Payment Processing for Nutra Industry Ready to Get Approved? Get Started Today! What is a Nutraceutical Merchant Account? Any business that accepts card-based payments must have a merchant account, which is a dedicated bank account reserved for credit card, debit card and rewards card deposits. Nutraceuticals are highly regulated products that require specialized payment processing solutions. Copy of call center agreement. This is well over what Visa considers an excessive level of chargebacks. What Are Nutraceutical Merchant Accounts? A nutraceutical merchant account is required to accept and process card payments. There are many merchant account providers to choose from to process cashless payments, but not every merchant account provider accepts high-risk. Nutraceutical merchant processing history is also an important part of underwriting procedures with plenty of attention given to chargeback ratios. SMB Global: Best for international merchants. Nutraceuticals are divided into three distinctive categories: functional food (probiotics, nuts, tomato products, yogurt), functional beverages (sports drinks), and dietary supplements (vitamins, minerals. 1601. You need a dependable high risk merchant account provider for your nutraceutical merchant account. For more information or to request that one of our agents contact you in regards to a payment processing account, please fill out the form on the right hand side of the page. A merchant account provider processes all types of cashless payments including checks, credit and debit cards, online, and mobile payments. Our proprietary echeck payment platform is operated 100% by the firm. “High risk” businesses include everything from car dealerships to e-cig vendors, and even merchant credit can have an impact. They average 1. Three Months Processing history showing a at least $50,000 per month is required to qualify for an adult merchant account. Retail Payments. These specialized accounts can. These products include dietary supplements, vitamins, and health-related products often sold online. PaymentCloud is the #1 provider for Nutra and supplement credit card processing because we can connect directly to the software and solutions that your business already uses. According to recent reports, the Indian nutraceuticals market will probably make to the tune of $10 billion come 2022. All Nutraceutical Merchants welcome. The process usually requires processing payments from the customer’s account into the vape merchant account. ACH payments are used to move funds from one bank account to another.