The Need for Merchant Accounts in the Diet Plan and Supplement Industries

Jun 11, 2015

Americans are obsessed with the idea of losing weight. The number of supplements and diet plans that flood the market along with the $40 billion a year Americans spend on weight-loss products and programs proves it. Books and magazines also promise to reveal information about meal prep and workouts that will help achieve the “dream body”.

Millions of Americans that are dissatisfied with their bodies turn to these diet plans and programs in an effort to make a change. They turn to the internet in search of a diet program that will suit their needs. Others search for supplements that promise fast weight loss results. The attention and interest that these industries continue to get, and the fact that fitness is a never ending journey, have become reasons for many individuals to start a business in these industries.

However, the weight loss and diet plan industries are considered to be “high risk” by the majority of traditional lending firms. Why? These industries are considered to be high risk due to the common high chargeback rates from unsatisfied customers.

Our bodies are obviously all different and respond to various weight loss programs and supplements differently. Some do not set realistic goals, which then leads to dissatisfaction with the diet plan. Then there are those who simply don’t put the sweat and effort into the diet plan that is required to see results.

Maybe you have already seen this hole in the diet plan industry. If you feel that you have a diet plan that is unique, that will help clients obtain achievable goals and motivate them to continue on their fitness journey even after the completion of your program, starting a business in this industry may be the answer to sharing your knowledge and passion with others. To do so, you will first need to obtain a certified electronic payment process.

If you have already run into the problem of securing merchant services, you might want to consider what a diet plan program merchant account can do for you and your business. Emerchantbroker.com boasts an experienced staff with proven support and a speedy signup process. EMB specializes in dealing with high risk merchants which includes the diet plan industry. There are no application fees, and if your business is able to keep chargebacks and disputes below 3%, there is a merchant account waiting for you.

Let us help you get a Vitamin Supplement 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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