Nutraceuticals Merchant Accounts
Payment Processing for Nutraceuticals and Supplements
Your Nutraceutical Merchant Account Solution
The best time to get nutraceutical merchant accounts is right now in 2020. The nutraceuticals marketplace is projected to hit over 700 billion dollars by the year 2027. With Nutraceuticals rising at such an alarming rate now is your opportunity to capitalize on the market share and get your product delivered to consumers. In order to start selling products, however, you will need to be able to process payments online. While retail stores do make up a percentage of the market, the majority comes from online eCommerce sales. It takes a certain payment processing to be able to keep up with this market and keep you compliant. Due to regulations on products, and the high volume of sales nutraceuticals are considered high risk, and require a high risk merchant account in order to start collecting payments from customers.
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Why are Nutraceuticals high risk?
Nutraceuticals, supplements, or any product under this umbrella is considered to be high risk by banks. There are a few reasons for this, all of which you should be aware of when getting a nutraceutical or supplement merchant account. The first reason is due to chargebacks over the product description. Many customers will purchase a product, and if it does not deliver them the desired result they will be more prone to ask for a refund. Whenever refunds are being requested, chargebacks aren’t too far behind. You need someone like Zen Payments to help you mitigate chargebacks, and keep your business processing. The next reason is simply due to the high volume of CNP transactions taking place. These two will work in tandem against nutraceuticals and are why the industry is high risk. Because of the industry, you will need high risk merchant services to keep business running smoothly.
Service is Key
Nutraceutical is an umbrella that has quite a few products under it from a payment processing standpoint. You need to make sure you work with the right merchant services provider to ensure that you are covered and compliant to sell your products. We have merchants all over the world selling nutraceuticals. If you are selling any of the following, you will need a high risk merchant account.
Hair Growth Supplements
Performance Enhancing Supplements
Skin Care Products
Weight Loss Supplements
Zen Payments has experience with all of these and more. Call us today to get more information on how you can become compliant to sell these products online.
Nutraceutical Merchant Account Stability
Companies like Stripe, Square, and Paypal are not set up to properly handle high risk merchant accounts. If you go this route, 6 months down the line you will find yourself with frozen funds and nowhere to process payments. Getting a merchant account with any processor is not enough, you need to ensure that you are set up with someone who can handle your MID long term. Our network of banks ensures that not only do you get approved, but you get approved at a bank that has your best interest in mind and keeps your rates low. Once you apply with us, we take every client through our underwriting process to check compliance’s long-term fit. Once your site is ready, and you are approved at the appropriate bank, your supplement merchant account is ready to start processing payments.
Why Zen Payments for your Nutraceutical Merchant Account
Zen Payments is the go-to provider of merchant services for anyone in the nutraceutical or supplement industry. We specialize in providing long-lasting merchant accounts for our clients, so they can continue to grow their business without worries of held funds. You need a company that has experience in dealing with various forms of industry compliance and standards. We have been doing this for the last 15 years, and have the knowledge and expertise that brings comfort and success to our merchants. With our chargeback protection, underwriting process, and incredibly low rates you will see why Zen Payments is the best provider of nutraceutical merchant accounts.
Supplement Merchant Services
We support all kinds of merchants, including those looking for nutraceutical or supplement merchant accounts. With a variety of high-quality payment gateway solutions and 24/7 support, you can rest assured that we are in your corner. You can keep tabs on the health of your business while we handle the payments. We also offer chargeback reduction services to be able to prevent the losses you can suffer due to high volume chargebacks. Call us today, and let us get your business processing payments and get you a high volume merchant account today!