ONLINE PHARMACY, A HIGH RISK BUSINESS?

Jan 14, 2016

“The biggest risk is not taking any risk” – Mark Zuckerberg

Online pharmacy is a leading business on today’s eCommerce market.  According to Research and Markets, the industry will count for over $75.3 billion in 2017. The reason is that there is a growing interest in health and wellness, and the demand for dietary supplements is increasing rapidly.

Online Pharmacy Business Is High Risk

Online pharmacy businesses are high risk. However, as pharmaceutical companies and other retailers get more and more involved in the industry, the latter acquires more legitimacy.

To enjoy good profit, online pharmacy merchants should adopt successful eCommerce management, and deliver genuine products, high-quality customer service and competitive rates to online shoppers.

To start an online pharmacy business, merchants must be extremely cautious, and turn to a highly reputable and trustworthy payment processing company to get a reliable merchant account for their high-risk business. Choosing the right processor in the field, merchants will be able to easily take advantages of their pharmacy merchant account.

A nutraceutical product can be characterized as an isolated or purified product that has a positive physiological effect or can fight chronic diseases. Nutraceuticals are as follows: dietary supplements, sports drinks or functional beverages, and functional food.

All pharmaceutical merchants interested in an online pharmacy business can turn to emerchantbroker.com (EMB), #1 payment processor for high-risk businesses in the US.

Best Pharmacy Merchant Account

As it happens with other high-risk businesses, traditional banks and some processors may refuse to open a merchant account for your online pharmacy businesses. Most credit card processors try to stay away from legal violations, chargebacks, online fraud, and other risks connected with online pharmacy business.

Today, pharmaceutical merchants enjoy increased profits. This refers especially to those cases when customers are looking for safe and legitimate nutraceutical providers who will enable them to access to products that are affordable. If you are trying to attract more customers and increase your profits, emerchantbroker.com is the right option to choose.

EMB is the #1 pharmacy merchant account provider in the country. Our account managers are the most experienced specialists in the business and offer 24-hour service and support to customers. With emerchantbroker.com, you can enjoy a variety of payment processing services for your online pharmacy business and open a low-cost pharmacy merchant account with ease.

We offer check processing options such as business checks, personal checks, government, travelers, money orders, and cashier’s certified checks. Moreover, EMB also has a new iCheck service that boasts a number of convenient features like app feature, the check-by-phone service, and paper guarantee. Thanks to iCheck, companies can add “pay now” buttons to websites, and email invoicing so to enjoy fast and easy payments and digital signatures.

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

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

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.

Live Chat