Why Do You Need A Nutraceutical Merchant Account?
It can be extremely difficult to find a merchant account including credit card processing if you’re in the nutraceuticals industry. The possibility of high chargeback costs combined with the uncertainty of subscription-based payment models makes financial institutions reluctant to take on the risk, despite the hundreds of billions of dollars in revenue nutraceuticals generate each year.
How Do I Open A Merchant Nutraceutical Account?
You would think it’s as easy as filling out some paperwork, but risk-averse banks aren’t going to gamble on you, so you need to find a different solution. But who should you choose?
You’ll want to locate a high-risk merchant account provider to partner with. Look for those that specialize in high-risk areas like nutraceuticals, and who have partnerships with financial institutions willing to do the underwriting. Prioritize experience and reliability–two things that aren’t always easy to find.
Use our fast application to get a custom tailored merchant account that fits your needs.
How Can eMerchant Authority Help With Your Nutraceuticals Merchant Account?
When it comes to e-commerce, one secret to avoiding chargeback fees and fraudulent sales is the ability to quickly and accurately identify suspicious transactions, such as those processed with stolen credit cards.
But perhaps even more importantly, you want to make it simple and easy for dissatisfied customers to contact you directly to resolve billing issues, rather than contacting their banking institution and initiating a chargeback.
If an unhappy client contacts you, do everything you can to resolve their issue in a prompt and friendly way, possibly even issuing a full refund rather than suffering a chargeback. Remember, it’s not just the fee that hurts you when a customer initiates a chargeback, it also impacts how underwriters and banks evaluate how risky working with you might be.
eMerchant Authority, in addition to offering high-quality payment processing options, also provides you with the tools and knowledge you’ll need to keep your merchant account from suffering excessive chargebacks.
Here’s a couple of tips to avoid that very thing:
Email Order Confirmation Messages
At a minimum, your customers should receive an order confirmation email after checking out. Many content management systems (Shopify, WordPress, etc) provide this functionality already. If not, your payment gateway provider may offer this service as well. If you’re a nutraceuticals merchant account holder, you’ll want to ensure your confirmation emails include or are quickly followed by a tracking number and delivery notification.
Process Large Numbers of Monthly Sales
Your chargeback ratio, which is sales divided by chargebacks for a period of time, needs to stay as low as possible. If you get one chargeback, but only had one sale, your 100% chargeback rate doesn’t look very trustworthy to the banks. But if you get one chargeback in 1000 sales, your resulting chargeback ratio, and the perceived risk you pose to financiers, is substantially lower.
Email Customer Satisfaction Messages
There is an obvious reason to do this–how do you know if customers are satisfied if you don’t ask? Cross your fingers and hope they leave a positive review somewhere online? No, take the guesswork out of the equation and simply ask for their feedback so you can improve future transactions.
There’s an equally important, yet less obvious, reason for asking your customers for feedback as well. About the time they get your customer satisfaction email, they’ll likely be looking at the charge on their statement. If they have problems or questions, they are more likely to contact you directly, rather than going to their bank for help, if you’ve just reached out to them about their satisfaction. Use this opportunity to resolve their issue and avoid a chargeback.
Why Choose EMechant Authority Nutraceutical Merchant Account Solutions
There are very few merchant service providers that offer customized end-to-end nutraceutical merchant account solutions. This is due to the high-risk nature of the nutraceutical industry.
Further, some of the merchant account service providers charge very high service fees for high-risk merchant accounts meant for businesses that sell nutraceutical products.
Fortunately, EMerchant Authority offers nutraceutical merchant processing services at an affordable price.
Other benefits that accrue to businesses that choose nutraceutical merchant accounts from EMerchant Authority include:
- Several payment options– If you want your Nutra product business to grow, you must start accepting different payment methods. Having more than one payment option gives your customers flexibility, as they can use any of the several methods to make payments. Besides, it’s also convenient for clients who may not carry cash around.
- Accepts all credit cards– Today, customers prefer to make credit card payments instead of using cash. An EMerchant Authority nutraceutical merchant account allows you to accept all credit cards, meaning you can sell your nutraceutical products to customers from all over the world
- Reduced chargebacks– We are a reputable high-risk processor that offers a chargeback management system to all our customers. This alert system helps keep chargebacks low. As mentioned earlier, we also offer advice, tools, and knowledge to our customers which helps resolve billing problems for Nutra businesses
- No hidden fees– One of our top priorities as a business is to foster a good relationship with our clients. This is why we are transparent about our costs from the very start. We give you a detailed breakdown of all your merchant account fees, so you can make an informed decision. Besides, we offer affordable and competitive rates when it comes to processing and transaction fees
- 24/7 customer support- Our customer support is always available to provide you with any support you might need with your nutraceutical merchant account. This is especially important for businesses in the nutraceutical industry that operate day and night. You can trust us to provide timely support whenever you contact us.
- Fast setup and approval – There is nothing like instant approval when it comes to high-risk merchant accounts. At EMerchant Authority, we try to make the setup and approval process for your nutraceutical account as quickly as possible. Once you fill out the merchant account online application, your merchant account could be up and running in 3 to 7 business days. The approval process for high-risk merchants often takes longer than for low-risk merchant accounts, as the former has to go through a 2-step approval process that involves vetting by the merchant account provider and the acquiring bank.
Need A Merchant Account Quick?
WHY USE eMERCHANT AUTHORITY?
eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. We provide merchant account services for both low and high-risk businesses.
Our services are secure and reliable.
Besides, we understand just how financially difficult it is to become a business owner. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees.
Whether you’re a startup or an established business, you can count on us to provide you with a perfect merchant service solution with the latest hardware and software tools such as Clover systems that are perfect for your retail payment needs.
And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. Our 24/7 customer support team is always on call to answer your questions and attend to your needs.
Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority.
Merchant Account Experts
20+ Proven Bank Relationships
Fast Merchant Account Approval
E-Commerce & Retail Options
B2B Vendors Supported
Multiple Payment Solutions
Multiple E-Commerce Gateways
ACH, E-Check, Credit Cards
B2B Level 2/3 Data Discounts
3D Secure Frictionless Checkout
Intuitive Technology & Support
Gateway Recurring Billing
E-Commerce Cart Plugins
International Merchant Accounts
Dedicated Account Managers