How to Obtain a High Risk Nutraceutical Merchant Account

Jun 25, 2018

Are you a merchant interested in a nutraceutical merchant account? Why is your business classified as high risk? What are the reasons? How can you obtain this merchant account without challenges? This article will tell you how you can do this successfully.

High Risk Nutraceutical Merchant Accounts

Nutraceutical products are increasingly becoming more and more popular all over the world. The reason is that more and more people are looking into natural cures for their ailments.

It’s undeniable that the nutraceutical market goes on growing at a rapid pace. It’s not expected to slow down in the years to come. To open your nutraceutical business, you should have a tremendous amount of focus. Also, you should plan all your steps if you need to achieve success as soon as possible.

You, as a nutraceutical business owner, should operate in full compliance due to industry laws and regulations. For this, you should rely on credit card payments from customers. As a result, you’ll be able to make money and grow.

As you know nutraceutical companies are classified as high risk. So, traditional banks and most processors aren’t willing to work with them because of a number of reasons.

There’re items that lack a clear legal status. This can potentially put the company and its credit card processor to higher rates of chargebacks. Quite naturally, these challenges can make it rather problematic for companies to find a processor that wants to work with them.

Many financial institutions may not understand how the nutraceutical industry works. Therefore, they may not want to take risks. What is more, the industry is associated with a higher risk of chargeback filings because of the way the products are bought and paid for. One of the examples is when a customer initiates a chargeback when his/her credit card is charged after a free trial expires.

Many large merchant account providers stay away from nutraceutical companies and aren’t willing to process payments. The murky legal status of some of the supplements and the risk of chargebacks from dissatisfied buyers are among the reasons.

Opening a Nutraceutical Merchant Account

What type of nutraceutical merchant accounts do you need? What industry are you in? Nootropics? Natural male enhancement? B vitamins? Weight loss supplements or else? No problem. With a reputable payment processor, you can get the best for your business wants and needs.

So, the most important thing is to be able to find a reputable credit card processing company to work with. Consider applying to eMerchantBroker.com. EMB is voted the top high risk processor in the US and carries an A+ rating with the BBB.

eMerchantBroker.com aims to be the undisputed best nutraceutical merchant account provider in the industry. By the way, EMB has an A rating with Card Payment Options. The striking thing is that EMB understands the unique needs of the nutraceutical industry best of all.

Importantly, EMB talks to every single business owner so to be sure you’re getting merchant services geared to your own specific business needs. Beyond that, eMerchantBroker.com has significant experience in working with merchants in the high risk industry: EMB has helped thousands of hard-to-approve merchants get what they need.

eMerchantBroker.com has earned a reputation for the most affordable pricing and quality customer service. Besides, EMB works with various processors and gateway providers that have sponsor bank relationships that provide both domestic and offshore nutraceutical accounts.

As you see, opening a high risk nutraceutical merchant account can be less challenging if you work with a respectable merchant services provider. Find a dependable credit card processor that offers low cost rates, the best terms, and start growing your business.

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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