The global protein supplements market is growing and expanding rapidly. There’s an increased demand for these products that fuels the market growth. Are you a merchant involved in the supplements market? Do you need a protein powder merchant account for your business? If yes, you’re at the right place. Just read this article and you’ll get to know how you can easily get approved for payment processing.
The Supplements Market: Protein Powder Products
The market is concentrated in nature and includes both large and small players. Protein powder is the dominant product segment and is expected to significantly grow with the overall growth of the market.
What does make the industry expand? This has to do with the innovation in the manufacturing of proteins containing a wide range of amino acids. The thing is that these amino acids account for energy balance, weight loss, muscle repair, and satiety. These are functions that many people are interested in.
First, consumer awareness towards maintaining a healthy diet is increasing. On the other hand, the number of consumers following an active lifestyle is increasing as well.
Specifically, there’s a growing demand for protein among women. Why? This is because of the “strong, not skinny” trend. Also, there’s rising popularity of resistance training for women. Moreover, high protein diet is more and more often used as a part of weight reduction. Beyond that, more and more people are using the product to maintain and build muscle mass.
All these facts are playing an important role in the growth of the supplements market. This, in its turn, results in a huge interest towards supplements businesses.
Protein Powder Merchant Account From EMB
Nutraceutical transactions are considered high risk. Why? Nutraceuticals are tricky businesses due to the lack of health regularization by the government. That’s the reason why it’s not easy for nutraceutical merchants to get approved for payment processing.
Specifically, supplement and vitamin businesses are categorized as high risk because of higher chargeback rates and disputes. As a result, traditional banks and many credit card processors don’t approve them. Even if these businesses get approved, they’re likely to pay extremely high rates for nutraceutical transactions. Happily, this isn’t the case with all payment processors.
eMerchantBroker.com, a reputable payment processing company that specializes in the high risk sector, is ready to work with legitimate nutraceutical companies. Even if many merchant account providers completely refuse to process nutraceutical payments, EMB can get you a protein powder merchant account quickly and easily.
Start by filling out EMB’s fast and easy online application. Then, experts at EMB will provide you with unique payment solutions tailored to your own business wants and needs. You can get approval in as little as 24 hours.
What companies can get nutraceutical merchant accounts from EMB?
- Dietary supplements
- Medicines made from botanical ingredients
- Multivitamins
- Natural male enhancements
- Nootropics, such as cognitive enhancers
- Weight loss supplements
- Workout and sports performance supplements
Besides the application, you’ll need to provide:
- A valid, government-issued ID (e.g., a driver’s license)
- A bank letter or a pre-printed voided check
- 3 months of the most recent bank statements
- 3 months of the most recent processing statements, if applicable
- An SSN (Social Security Number) or EIN (Employer Identification Number)
- Chargeback ratios must be under 2%
- You should maintain secure, operational websites
eMerchantBroker.com has years of experience working with startup and established businesses of any size. EMB has helped thousand of hard-to-approve merchants get the right merchant account for their business. EMB is willing to work with merchants rejected or shut down by other processors, as well as retail and online merchants with no credit, bad credit, or high chargebacks.