How Vitamin Labeling is leading to Lawsuits

Sep 18, 2014
vitamin_labelSMALLThe vitamin supplement market is booming. Consumers are swamped with a variety of offers to choose from designed to help them lose weight, perform better in the bedroom, increase their energy, and more. However, some of these vitamin supplement affects are exaggerated or are made up completely, leading to consumer skepticism about even the most credible vitamin supplements, and making the obtainment of a vitamin supplement merchant account nearly impossible for legitimate businesses.

Recently Vitamin Shoppe, a large retail chain, was sued for allegedly misleading consumers about the contents of a protein product and its health benefits. Plaintiffs in the lawsuit claim that Vitamin Shoppe’s BodyTech line exaggerated the amount of Aminogen that the product contained, which helped absorb the protein product. The complaint states that if the consumers were aware of the truthful amount of Aminogen available in the protein product, they would never have purchased the product.

False labelling claims have been on the rise in America, as the vitamin supplement craze has created a foothold in healthcare. Businesses that promote and sell vitamin supplements must be extremely careful as to how they label their products to avoid class action lawsuits.

eMerchantBroker is an experienced payment processor that will help you open a vitamin supplement merchant account in as little as three days. Due to the high amount of fraudulent activities and claims that occur in this industry, it has been labelled “high risk.” This classification makes it very difficult to obtain a credible payment processor, as your business is seen as one with an above average chance of failing.

eMerchantBroker specializes in dealing with high risk businesses like yours, and have vitamin supplement industry experts available to set up, monitor, and expand your merchant account.

Contact us today, and begin accepting card payments whether debit or credit, to increase the sales and profits of your vitamin supplement business. 

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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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