Payment Processing Solutions for The Nutraceutical Supplement’s Industry

Apr 14, 2020

Strategic targeting is part of being an excellent entrepreneur. You target the right market at the right time, with the right tactics and you almost definitely have it!

Most if not all Americans will willingly spend some dollars for their health and wellness, that’s why entrepreneurs who look that direction will most likely succeed.

People in the US are dropping to traditional medicines for alternative medications like nutraceutical supplements— a sector looking at 375 billion dollars by 2025.

And many buyers are savvy, they know exactly what they want. For instance, while there are other forms of nutraceuticals, some or many today consumers are likely to ask for fat-soluble nutraceutical supplements—unless they are after the vitamins in fat-soluble types like (B and C).

Why Focus on Fat-soluble Nutraceuticals

These supplements carry the vitamins A, D, E and K that matter most to the body in controlled quantities.

Animal foodstuffs are the richest natural sources of these vitamins. Consumed from animal foods, they enter the bloodstream faster than when ingested in fats.

The body relies on these vitamins for different vital roles. But you will rarely find them in the food you buy in public.

Also, you will most likely find other fat-soluble vitamins in meals but Vitamin D is rare in diets— which is why people go for these supplements.

Your Nutraceutical Business Checklist

Here’s how to set up a fat-soluble nutraceutical store.

  1. Identify a niche. Don’t start without identifying a target market. Conduct a thorough research to identify a ready market.
  2. Choose a Product type. You can offer one or all of these nutraceuticals: minerals, prebiotics, vitamins, probiotics, fat and antioxidants.
  3. Offer unswerving Customer support. Preferably, go for live chat to maintain active interaction.
  4. User-friendly website. Work towards hassle-free navigation, easy product search and a stress-free checkout process.
  5. Use eye-catching product designs. Looks is everything. Design and flaunt attractive packaging for your products on a user-friendly website.
  6. Seek FDA Compliance. Customers will check. Make sure you seek certification from the Food and Drug Administration.

Next, you want to search for the right merchant services and payment processing solution for your nutraceutical business.

Nutraceutical Merchant Account & Payment Processing

You’ll need a Nutraceutical Supplement merchant account to process payments but you’ll break some sweat to get one because banks consider nutraceutical-related businesses high-risk.

That means you won’t enjoy the normal low-risk payment processing as other less-regulated industries.

Furthermore, due to unmet expectations, not all of your customers will be happy with your products. And banks shy away from you if you’re prone to chargebacks or reverse charges.

All these and the fact that nutraceuticals don’t have a strong scientific backing makes these businesses are a no-go-zone for banks.

So your best option lies with high risk merchant account providers. If you have every other thing in order, these service providers will see to it that your business begins processing payments ASAP.

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 on 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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