Natural Supplement and Nutraceutical Merchant Accounts
Today’s business environment has produced immense opportunities for growth in the nutraceutical industry. Daytime television personalities regularly sing the praises of natural remedies and supplements, and the internet both enables the rapid spread of new trends in natural health products and makes it much easier for customers to purchase them. That’s why it’s so important for nutraceutical merchants to have the ability to accept credit cards – being unable to offer customers the ability to use their preferred form of payment results in enormous missed opportunities to increase sales.
However, being approved for a merchant account isn’t always easy for health supplement businesses. The nutraceutical industry is considered “high risk” by credit card processing companies, and many traditional financial institutions won’t even talk to you once they hear what kind of products you sell. Looking at the few payment processors that are interested in your business, it can be hard for a start-up or growing business to find one offering affordable fees and favorable account terms.
What is a High Risk Nutraceutical Merchant Account?
A Nutraceutical Merchant Account allows business owners to accept credit card payments for the high risk nutraceutical industry. Nutraceuticals encompass a broad set of dietary supplements, natural medicines, health supplements and health maintenance substances that are free from FDA regulations and are widely available over the counter. The philosophy is rooted in using food as medicine and working with potent extracts to provide targetted benefits in health, wellness and disease prevention.