Pharmacy Merchant Account
High Risk Pay offers reliable merchant account services designed for pharmacies, online drugstores, and nutraceutical companies.
SUPPORTING HIGH-RISK MERCHANTS
Payment Solutions for the Pharmaceutical Industry
Without question, you can make a lot of money in pharmaceuticals. In 2014, biopharmaceuticals alone made $1.2 trillion in the United States. Considering that big footprint for one part of the industry, it’s no wonder many smart people get into the drug business. While there are perks to this work, there are also challenges. For one thing, many banks and credit card processors see the industry as being high risk.
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Why choose High
Risk Pay as your merchant
services provider ?
SPECIALIZED IN HIGH RISK
We offer high risk merchant accounts to all business types in high risk categories, including specialized options like a nutraceutical merchant account.
99% APPROVAL
We offer high risk merchant accounts to all business types in high risk categories.
FAST APPROVAL GUARANTEED
We offer high risk merchant accounts to all business types in high risk categories.
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Benefits of High Risk Pay’s Pharmacy Merchant Account
Mitigate Risk of Account Shutdowns: Partner with processors who understand the pharmaceutical industry’s inherent risks (recalls, delivery issues, efficacy concerns, legal action, nutraceutical regulations), making them less likely to terminate your account due to higher chargeback potential.
Process Payments for a Wide Range of Pharmaceutical Businesses: Whether you operate a brick-and-mortar pharmacy, an online drug store, or sell pet medications or nutraceuticals, a high-risk account caters to your specific needs.
Streamlined Onboarding: Benefit from High Risk Pay’s fast, easy, and affordable process to set up your credit card processing.
Quick Approval Times: Get your merchant account approved rapidly, often within 24 hours, allowing you to start accepting payments sooner.
Cost-Effective Setup: Take advantage of no application or setup fees when choosing High Risk Pay.
WHO WE SERVE
High-Risk Merchants We Serve
Reliable Payment Processing Solutions for Your Pharmacy Business
The pharmaceutical industry’s inherent risks—regulatory scrutiny, recalls, and delivery complexities—often deter traditional payment processors. A specialized pharmacy merchant account provides stable and reliable payment processing, which is essential for navigating these challenges. High Risk Pay connects your pharmaceutical business with specialized merchant account providers who offer:
Tailored Solutions for Nutraceuticals: Access to payment processing that understands the specific risks and customer expectations within the vitamin and supplement market.
Chargeback Management Expertise: Providers are experienced in handling and mitigating chargebacks specifically related to the unique challenges of the pharmaceutical industry.
Accommodation of Mail-Order Risks: Solutions are designed to address the chargeback risks associated with online pharmacies, such as delivery disputes.
Understanding of Regulatory Scrutiny: Processors are aware of the increased government oversight and potential for issues that can lead to payment disputes in the pharmaceutical sector.
Support for Businesses Facing Potential Legal Challenges: Providers are more equipped to handle payment processing for pharmacies that might encounter customer refund requests due to legal concerns.
FAQs
Pharmaceutical Industry Frequently Asked Questions
What key features should I look for in a payment processor for my pharmacy merchant account?
Seek a processor experienced in high-risk industries, offering robust security, seamless integration with your systems, detailed reporting, and understanding of pharmaceutical-specific chargeback scenarios.
Can a specialized pharmacy merchant account help with marketing or customer retention?
While primarily for payment processing, a stable account ensures smooth transactions, building customer trust and reducing negative experiences that could impact loyalty.
Are there often hidden fees associated with pharmacy merchant accounts?
Transparency in pricing is important; inquire about all potential fees (transaction, monthly, etc.) to avoid surprises and understand your total payment processing costs. Contact us today!
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