What Are Nutraceutical Merchant Accounts?
A nutraceutical merchant account is required to accept and process card payments. So, merchants in this industry need to find a way to obtain one. Fortunately, it is possible to do so without hassle and worries because there are merchant account providers like HRMA-LLC that specialize in such industries. The nutraceuticals market has become quite popular these days with global consumers looking for preventative measures to improving their overall health and wellbeing. Nutraceutical businesses are in high demand because they allow consumers to buy a wide variety of healthy products over the counter, e.g. natural medications, dietary supplements, and require supplement merchant account approval.
Unfortunately, nutraceutical businesses are considered high-risk by traditional payment processors and banks. This means that anyone selling these products may face a range of challenges with opening a merchant account.
Why Are Nutraceutical Merchants Considered High-Risk?
Nutraceutical merchants are considered high risk due to several reasons. The industry as a whole is considered risky because it is not well-regulated by the government. Not to mention payment processing for nutraceutical merchants is a bit unstable due to the lack of trust between these businesses and traditional payment processors. Some other reasons why nutraceutical merchants and industry are considered as high-risk include the following:
- Increased risk of potential false claim and fraud because the product ingredients and their effects are not validated by an official regulatory body.
- Higher-than-average number of chargebacks.
- Nutraceuticals market is oversaturated and unfortunately not all nutraceutical businesses are transparent and ethical about their products. This leads to quality/trust issues, making the industry high-risk.
- Lack of understanding around the restrictions and regulations of nutraceutical products in different countries and regions.
Why Choose HRMA-LLC?
Getting a nutraceutical merchant account is quite difficult because of the above-listed reasons. It can feel really challenging to set up a business in this competitive industry and start accepting card and other forms of online payments. However, HRMA-LLC is here to help with that. We are a leading provider of merchant account services for hard-to-place and high-risk online merchants across a wide range of industries, including nutraceuticals. We pride ourselves on offering solutions to facilitate nutraceutical card processing globally for your products, and navigate the various problems an unregulated but legitimate business can bring.
HRMA-LLC can help you acquire a high-risk nutraceutical merchant account without any unnecessary delay or hassle, offering fair fees, competitive rates, and the best levels of service possible.
The HRMA-LLC Advantage:
HRMA-LLC doesn’t punish people for running a nutraceutical business. On the contrary, our mission is to help merchants like you succeed so you can grow your business in the industry. We offer reliable nutraceutical merchant account and processing services for your business because we know how to address the various problems that are associated with such high-risk industries. We don’t see a lack of regulation as an obstacle to the growth of your business. The key advantages of choosing us include the following:
- We are knowledgeable and well-versed in the understanding of the complications around unregulated products to help you in quickly obtaining a nutraceutical merchant account
- We offer secure cart integrations and payment gateway services that are fully compliant with all PCI DSS statements
- We offer reliable nutraceutical card processing and merchant services globally so your buyers can buy in their native currency and you get paid in your local one
- We specialize in high-volume merchant accounts and support recurring payments
- We use the latest technology and tools to help prevent chargebacks and help your business maintain a good standing with card networks to ensure longevity
Our Hassle-Free Application Process:
HRMA-LLC makes the process of obtaining a high-risk nutraceutical merchant account as painless, quick, and hassle-free as possible. We also take steps to make sure that we offer the best solution that matches the specific requirements of your business. During the application process, we may ask you to provide some key details about your business. You can have rest easy knowing that we will never ask you any unnecessary questions. Furthermore, we also don’t conduct a credit history check. This means even if you have poor credit history, you can apply for a high-risk merchant account with HRMA-LLC.
Added Services For High Risk Nutraceutical Merchant Accounts:
We offer additional, highly useful services to help your business maintain a good standing with card processors as well as avoid various risks that are typically associated with nutraceuticals industry. Chargebacks are one of the primary reasons why this industry is considered as high risk. Fraud is another common reason. Nutraceutical merchants have to protect themselves from these issues. Our high-risk merchant accounts come with state-of-the-art chargeback protection and fraud prevention tools to help you conduct your business with peace of mind.
Who Can Apply for a Nutraceutical Merchant Services with HRMA-LLC?
HRMA-LLC has a high approval rate. Majority of high-risk businesses and industries are accepted. When it come to nutraceuticals, we work with merchants selling the most popular products. Generally, all nutraceutical merchants selling these products can apply for high-risk merchant services:
- Dietary supplements, such as vitamins, minerals, etc.
- Dietary fiber
- Dietary enzymes, e.g. papain, bromelain, etc.
- Hydrolyzed proteins
- Herbal products, such as turmeric, licorice, senna, ginger, garlic, and more
How Soon Can I Get a Nutraceutical Merchant Account?
We know that you want to set up your merchant account as quickly as possible so you can start accepting payments from your customers. That’s why we offer fast application, underwriting, approval, and installation processes. Keep in mind that the speed of the setup and the integration of the services you order depend on a variety of factors, e.g. the types of payment systems, the size of your business, and more.
Getting Your Nutraceutical Merchant Account at HRMA-LLC
A high-risk nutraceutical merchant account is not easy to obtain, but HRMA-LLC has solutions. Contact us today for a quick assessment of your business. Our tech and customer support staff are there for you to respond to all of your inquiries. We can help you acquire a high-risk nutraceutical merchant account that is suitable for your specific requirements so you can plan the next stage of growth for your business and start accepting card payments without unnecessary paperwork or complications.