Most businesses have issues taking off, but when that business is labeled as “high risk”, the problems mount even higher. “High risk” businesses include everything from car dealerships to e-cig vendors, and even merchant credit can have an impact. One of the riskiest is the nutraceutical industry, which affects most consumers on a daily basis. If you take a nutritional supplement, you support the nutraceutical industry. Pills, drops, teas, and topical products are gaining speed daily, which should make the industry valuable. It does, but most merchant account providers see it differently.
With a “high risk” business, it does not matter how much revenue it brings in, but rather the amount of chargebacks. Nutraceutical merchants have an abnormally high amount of chargebacks. These can come from many reasons, from the cancellation of trial products to the return of products that did not work. Chargebacks cost the company big money, and too many can leave you without a merchant account. You must have a merchant account, and there is one place you need to look when you are in need of a nutraceutical merchant account: EMB.
EMB, or eMerchantBroker.com is the only stop you’ll need to make on your search for a nutraceutical-friendly merchant account. While others claim to be experts with types of “high risk” merchants, this is typically false. With EMB’s nutraceutical experts, you can rest assured that as long as you can keep your chargeback rate below 3%, you will maintain a merchant account. With highly trained experts to guide you along, this should not be an issue. The industry is tough, and not only for its chargeback percentage. The government has issues with the industry, because the FDA does not qualify most products as “medicinal”. Ever-changing regulations can be hard to keep up with, but EMB will help.
A merchant account is one of the most valuable things a business can invest in. However, when you have a nutraceutical business it can be hard to find a knowledgeable and cooperative merchant account processor. With one call to EMB, you can solve all of your merchant account needs. Call today to learn more about your options.