Credit card processing for nutritional supplements
To accept credit cards or other payments online for nutraceuticals or nutritional supplements, you need a high-risk merchant account. Regardless of whether you’re a supplier and maker of these items, or want to set up an e-commerce store selling reliable forms of dietary supplements within a specific niche, a high-risk merchant account will be necessary. By taking advantage of our years of experience in the industry, you can make sure the high-risk merchant account we provide is the best fit for your nutraceutical or nutritional supplements business.
Nutritional supplements are growing in popularity. The population is more focused on a healthier and more balanced diet, making dietary supplements an industry on the rise. As society becomes more focused on health and fitness, the demand for supplements is increasing. If you’re about to start your nutritional supplement business, now it is a good time to do so.
Having an e-commerce store can significantly increase your reach and customer base. However, in order to sell either nutraceuticals or other nutritional supplements online, you need to establish a high-risk merchant account so that you can accept credit card payments for your products. Unfortunately, this is easier said than done. As a nutraceutical or nutritional supplements merchant, your business is automatically considered high-risk. Even if your e-commerce store mainly sells other products, you will still need a high-risk merchant account.
Are you a high-risk nutraceutical or nutritional supplements merchant?
If you’ve only just expanded your e-commerce store to include a broader range of products to your health and wellness customers, you might have been surprised to find that standard merchant accounts rejected you. Some supplement products are not a well-known part of the high-risk product category. There’s a good reason why you might see some overlap between nutraceutical and nutritional supplements products when researching online.
Although technically different, for the purposes of obtaining a merchant account nutraceuticals, vitamins, and nutritional supplements are all considered “ingestibles”. Generally, merchant account providers use the term supplements, or “nutra products”. However, there is a difference between a “nutra” and a supplement. Nutraceuticals are commonly described as a concentrated form of a substance derived from food. On the other hand, nutritional or dietary supplements (sometimes only referred to as “supplements”) are usually a vitamin, mineral, herb or other plant-based chemical used to supplement your nutrition. As the difference can become confusing, we find that most merchants use these terms interchangeably.
Why your industry is considered high risk
The nutritional supplement industry is deemed to be high-risk mainly because it is highly regulated by the government in most areas. The industry is also subject to relatively high chargebacks as well. These are two reasons why you will need a high-risk merchant account in order to accept credit card payments online. Legal frameworks and chargeback statistics cause many payment processor providers to become wary. We will provide your website with affordable, fair, high-risk credit card processing and take the time to help you integrate your payment gateway with your shopping cart.
Supplements and nutraceuticals are highly regulated
Nutritional supplements are just one of many industries that are categorized as high-risk due to the high regulatory standards in place. Businesses selling nutritional supplements must maintain full compliance with all local, state, and federal regulations that are in place. This is true if you are selling any variety of nutraceutical, nutritional, or dietary supplement which is not strictly a pharmaceutical. This covers products ranging from natural male enhancement to probiotics. If a nutra/supplement business does not comply with all relevant regulations, there are potentially grave consequences. Seeing as they are subject to punishment by the government, their business will suffer greatly.
Nutraceutical and nutritional supplements’ chargeback probability
Nutraceutical or dietary supplement businesses generally experience more chargebacks than other more standard websites. Their higher chargeback rate is often due to over the top claims, unrealistic client expectations, marketing failures or friendly fraud. Additionally, in times past, a favorite marketing strategy for nutritional supplement e-commerce sites was free trials with payments after 30 days. While the free trial marketing strategy was undoubtedly profitable, it was very vulnerable to chargebacks and is prohibited now by pretty much all credible high-risk credit card processors.
Accept payments on your nutritional supplement site
If you’ve faced problems finding a reliable way to accept credit card payments online because your nutritional supplement business is high-risk, we can help. We specialize in finding the right type of merchant account for high-risk industries. With over 20 years in the industry, we have a great deal of experience in this area. We can provide you with the tools necessary to process payments on your site. With the right high-risk merchant account, your customers will easily be able to pay with their credit card on your site. Feel free to contact us so that we can help you to accept online payments securely, efficiently, and conveniently.