Dermatology Credit Card Processing for Clinics

Jan 24, 2018

The global dermatology market accounted for $20.0 billion in 2015. The market is expected to grow at a compound annual growth rate (CAGR) of 7.73% and reach $33.7 billion in 2022. If you’re considering to start a business in the field or you already have one, you should turn to a respectable payment processor so to get the best for your business wants and needs.

The Dermatology Industry

The global market for skin disease treatment technologies accounted for $17.1 billion in 2015, and is anticipated to represent a $20.4 billion segment in 2020, growing at a five-year compound annual growth rate (CAGR) of 3.6%.

The US market for skin disease treatment plays a dominant role in the global market. It represented a $7.5 billion segment in 2015 and is projected to account for $8.6 billion in 2020, growing at a five-year CAGR of 2.6%.

Brazil, Russia, India, and China (BRIC) are the fastest growing regions of the global dermatology market, demonstrating a five-year CAGR of 6%. BRIC is expected to total over $4.6 billion by 2020.

As of 2013, there were an estimated 9.600 dermatologists and 7.800 dermatology practices in the US, as IMS Health reports. The demand for dermatologic services is growing driven by an increased access to dermatologists, greater health awareness, and favorable demographic trends.

Dermatology Credit Card Processing

The dermatologist industry has increasingly expanded into cosmetic dermatology. The number of dermatologists offering anti-aging procedures such as dermabrasion, laser treatments, and Botox is growing.

The mentioned treatments are considered a high-growth sector for the industry. They’ve contributed to the industry’s consistently high-profit margins. The industry revenue is anticipated to grow in the upcoming 5 years.

Merchants interested in starting a dermatology business online or those who are already running one should find a reputable payment processor like emerchantbroker.com to turn to. EMB is voted the #1 high risk credit card processing company in the US and has an A+ rating with the BBB. What is more, EMB is rated A by Card Payment Options and is named one of Inc. 500’s Fastest Growing Companies of 2016. With emerchantbroker.com, you can get a reliable and affordable dermatology merchant account to start and grow your business.

eMerchantbroker.com talks to every single business owner so to get to know the ins and outs of his/her business. Then, EMB offers a merchant account tailored to that specific business needs.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. 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.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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