Global value sales are projected to account for more than US $131 billion in 2019, and skin care will go on serving as beauty’s largest category counting for about US $20.1 billion to its value from 2014 to 2019. Emerging markets in Asia Pacific including China which will represent almost 60% of skin care’s absolute value growth by 2019 will play the main role in this regard.
Skin technology advances play a significant role in the industry as well. In 2016, Panasonic introduced a prototype for a “smart mirror” to diagnose skin concerns and print out 3D slivers of color-matched makeup to hide imperfections. What is more, Google filed patents that outlined designs for electricity- and pressure-sensing mats and color recognition mirrors that could be used to track changes in weight, blood pressure and organ health.
If you’re running an online business that deals with skin care, eye cream and eye serum products, you should know that it’s not always easy to find credit card processing. The reason is that the industry is labeled as high risk.
Why is the skin care products industry classified as high risk? The thing is that the industry has a reputation of a haven for snake oil salesmen who offer miracle cures. Also, the problem stems from unethical manufacturers who use pseudo-science to support the integrity of their products. All these problems result in high chargeback rates.
On the other hand, merchants in the industry deal with the prevalence of business models that use negative opt-ins, multi-level marketing structures, risk-free trials that can’t be called truly free, and/or advertising materials promising so much to sell their product.
Fortunately, merchants can turn to a reputable payment processor in the filed, emerchantbroker.com to get the best for their high risk business needs. EMB offers a reliable and low-cost skin care product merchant account to merchants of any type and size. EMB is voted the #1 high risk merchant services provider in the US and boasts an A+ rating with the BBB. EMB has an A rating with Card Payment Options and is one of Inc. 500’s Fastest Growing Companies of 2016.
EMB’s team of professionals have helped thousands of “hard to approve” merchants get a domestic merchant account without challenges. EMB offers:
- Fast approvals in 24 – 48 hours.
- No setup fees for most merchants.
- High Risk merchants approved.
- High volume solutions: load balancing gateways and multiple MIDS
- Chargeback protection and chargeback prevention programs available
- iCheck Check Processing service, featuring quick payments
Both EMB and its financial partners specialize in working with high risk businesses. Emerchantbroker.com also helps you reduce chargebacks before they become problematic and prevent payment processing fraud.
Being a high risk business doesn’t mean you should forget about a skin care merchant account. EMB can be your supportive and responsive financial partner. You can rely on EMB to secure you a skin care product merchant account to help your business grow successfully.