Credit card processing for nutritional supplements
Nutritional supplement website owners are often surprised to find out that they are prohibited from accepting credit cards by standard payment gateways like Stripe, Shopify Payments, and PayPal. Tower Payments fills this gap by providing affordable, stable supplement-friendly credit card processing that works with all popular website builders, including Shopify, WooCommerce, and Wix.
To accept online credit card payments for nutraceuticals or nutritional supplements, you need a high-risk merchant account. Regardless of whether you’re a GMP-certified manufacturer of nutritional products or want to set up an e-commerce store reselling dietary supplements within a specific niche, a high-risk merchant account is often necessary to avoid having your payment processing shut down by PayPal or Stripe.
By taking advantage of Tower Payments’ years of industry experience, you can ensure your high-risk merchant account is the best fit for your nutraceutical or nutritional supplements business.
According to Fortune Business Insights, supplements are growing in popularity, and that growth is projected to continue. The US population is more focused on a healthier and more balanced diet than in the past, 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 online nutritional supplement business, now is a good time to do so.
Having an e-commerce store can significantly increase your reach and customer base. However, to sell either nutraceuticals or other nutritional supplements online, you need to establish a high-risk merchant account so that you can safely accept credit card payments for your products. Unfortunately, for many, this is easier said than done. As a nutraceutical or nutritional supplements merchant, your business is automatically considered high-risk.
Need help accepting payments? Click start at the bottom of this page to begin.
Are you a nutritional supplement website owner looking for credit card processing?
If you’ve only just expanded your e-commerce store to include a broader range of products for your health and wellness customers, you might have been surprised to find that standard payment gateways have rejected you.
Although technically different, for the purposes of obtaining a merchant account, nutraceuticals, homeopathic products, vitamins, and nutritional supplements are all considered “ingestibles” or even “pseudo-pharmaceuticals.” 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 payment processors use these terms interchangeably.
Why online supplements are considered high risk
The nutritional supplement industry is deemed high-risk mainly because it is regulated, and the risk of consumer dissatisfaction is relatively high. These are two reasons why you often 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 must be sold carefully
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 supplements. 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. Therefore, we strongly recommend sitting with a qualified attorney before marketing any nutritional supplements online.
Nutraceutical and nutritional supplements’ chargeback probability
Nutraceutical or dietary supplement businesses generally experience more chargebacks than 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 website
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 correct type of merchant account for high-risk industries. With over 20 years in the industry, we have a great deal of experience with all major shopping cart integrations. In addition, we can provide the tools necessary to process payments on your site. With the correct high-risk merchant account, your customers can easily pay with their credit card on your website. Click the start arrow below to begin.