Herbal Vitamins And Nutra Merchant Account

Nutrition / Herbal Vitamins And Nutra Merchant Account

With the world switching ever more towards online sales, even in the nutraceutical market, the need to accept credit card payments from anywhere is essential for business growth, and to accomplish this a nutra merchant account is a vital component of any nutra business.

Because the nutra market is seen as high risk by the card companies, in that the industry itself suffers from a higher rate of card fraud and chargebacks than the norm, for businesses wishing to accept cards, a specialist herbal vitamins and nutra merchant account is needed. The good news is that there are many suitable products to choose from. These high risk nutra merchant accounts are designed to mitigate the extra risk that comes from operating within the nutraceutical industry, and as such differ slightly from the normal merchant account, mostly in terms of cost.

Obtaining a nutra merchant account is a straightforward process, requiring proof of identity, the passing of a credit check and if the products involved require a government license, proof of conformance with that as well. Due to the risks the card companies associate with the industry, many nutra merchant accounts require additional financial guarantees however, such as underwriting assistance.

Costs associated with these high risk type accounts are higher than the standard merchant accounts, and nutra merchant accounts are no different, with higher costs designed to offset some of the risk involved. Those costs come in two forms, there is a cost that is raised either annually or monthly to maintain the account itself. In the case of high risk accounts this is significantly more expensive than standard merchant accounts, and for nutra merchant accounts can be significantly so. The other cost associated with a nutra merchant account is the cost per transaction levied for the payment gateway service to process the sales.

These extra costs must be factored into any business plan for online nutraceutical businesses, however as they are all known before setting up the account this need not be an issue. These extra costs are simply part of the process of doing business in the nutraceutical industry, and although it is still essential to be well researched to get the best deal available, all others in the market will be incurring similar extra costs too.

The last aspect of the nutra merchant account that differs from the standard merchant account operation is not a cost, but it is the time taken from a customer transferring funds from their card into your merchant account when you make a sale, to the time your business has access to those funds. In a standard merchant account, this delay would usually be around 7 days, to allow for chargebacks and any fraudulent transactions to appear, however for a nutra merchant account this delay can be much bigger, with as much as a 30 day delay between making a sale and having access to the funds.

There are special considerations when looking for a nutra merchant account, but none are insurmountable, and any business that is well prepared will be able to find a suitable service quickly and easily.

Get started today: [APPLY FOR A NUTRA MERCHANT ACCOUNT] & be pre-approved in less than 48 hours!