Nutraceutical Merchant Account

The nutraceutical industry is booming in the US and will continue to grow for the foreseeable future. In fact, it’s estimated that the nutraceutical industry will grow to an astounding $600+ billion industry by 2024. This nearly unprecedented growth is a huge opportunity for merchants to grow a great business. However, they’re still dealing with a lot of the same payment processing difficulties that have been around for several years.

We know how difficult finding reliable nutraceutical merchant account processing can be since most payment processors classify nutraceuticals as high-risk businesses. As such, we’ve built our business to specialize in providing nutraceutical merchant processing to businesses when other processors like banks, Stripe, Square, and PayPal may not accept your business transactions. Finding a merchant services provider that can help process nutraceutical payment transactions is crucial to your business’ success. WizoPay is here to help steer that success in the right direction.

Why is a Nutraceutical Business Considered a High-Risk Merchant Account?

  1. The industry is regulated by the US Government and cannot make certain guarantees, promises, or claims without extensive clinical trials on their products. Compliance with these government regulations requires a considerable amount of underwriting by credit card processors, which is why most refuse the business of nutraceutical merchants.
  2. Nutraceutical businesses also have to deal with frequent, higher-than-average chargebacks. Product performance can vary from person-to-person and may result in a high number of chargebacks from buyers that don’t see the results the product claims. A large number of Nutra businesses run on a month-to-month subscription model that often results in chargebacks after an initial “honeymoon” period with the product. 
  3. There can be an adverse perception of the industry based on the negative press over the past few decades. Merchant providers may not want to be associated with the industry if they believe the negative connotation that businesses are selling products that “may or may not work.”

What to Consider When Selecting a Nutraceutical Credit Card Processing Company

There are several significant considerations to make when trying to find a partner to provide you nutraceutical merchant processing:

  • A partner with extensive experience and positive relations with companies in the nutraceutical industry.

  • Mobile processing and small card readers for smartphones are incredibly important for working with nutraceuticals as many purchases are made online, at trade shows, and at events.

  • Advanced fraud detection tools will allow you to set custom filters and thresholds on your payment gateway. For example, you can set a limit on the number of transactions you accept in one hour, curbing fast, high-volume fraud attempts common in the eCommerce space.

  • Nutraceuticals do not need FDA approval before they hit the market, but their sellers are legally responsible for following labeling, advertising, and ingredient requirements specified by the FDA. They’re considered high-risk because the laws and regulations under the FDA change regularly in their industry.

  • Your merchant provider needs to have a team seasoned in addressing the challenges and concerns of the industry as policies and regulations change often.

WizoPay has offered nutraceutical merchant services to businesses for over 25 years. We value the services provided by all types of companies within the industry, including:

  • Subscription month-to-month supplement services

  • Subscription month-to-month vitamin companies

  • One-off supplement companies

  • One-off supplement vitamin companies

  • Other products that are considered a part of the nutraceutical industry

  • Negative Option Billing - we’re one of the few companies that offer negative option billing as part of our nutraceutical merchant accounts

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About WizoPay Nutraceutical Credit Card
Processing Solutions

WizoPay offers nutraceutical credit card processing solutions that can fit the complex needs of nearly any Nutra business.

We offer:

  • Fast Approval for All Merchant Accounts
  • Low Rates, Free Equipment, & Integration Assistance
  • Online Fraud and Chargeback Prevention Program
  • Unlimited Processing with Limited or No Hold Options
  • Next Day Funding Available
  • No Hidden Fees and Transparent Pricing
  • In-house Technical Support
  • Negative Option Billing

Our platform integrates with software platforms used by businesses in the Nutra industry, including but not limited to:

  • Shopify
  • WooCommerce
  • And many other eCommerce platforms

As well as marketing automation platforms like:

  • ClickFunnels 
  • Keap (formerly InfusionSoft)
  • OntraPort

Our goal at WizoPay is to build long-term business relationships with all our clients. To accommodate that goal, we offer accounts that are accessible from all devices with flexible payment schedules. 

As a service provider, we offer:

  • No long-term commitment or contracts
  • The lowest rates in the industry
  • No contracts
  • No early termination fees

Every client of ours gets a dedicated customer service professional that can provide daily one-on-one help to fight chargebacks, answer any questions about our system, and provide solutions to optimize their payment processing.

We’re ready to help you on a personalized basis whenever you need with our 100% US-based customer support team. Our account representatives understand every aspect of the nutraceutical industry and provide you with a merchant account that fits your every need. Once you apply and provide the necessary documents, we’ll work to get you a preliminary approval within 24 hours of submitting your application and full approval shortly after that.

Interested in discussing options on setting up a merchant account, what type of card readers work best for your industry, or how you can set up your online credit card processing merchant account? Learn more by contacting a WizoPay merchant account representative today

Find the Right Nutraceutical Credit Card
Processing Solutions for Your Business.

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