A merchant account is what allows your business to process payments made by credit, debit, gift or rewards cards. 2834: Pharmaceutical Preparations. It takes just a few minutes to complete. Our payment solutions are designed to seamlessly integrate with your business model, whether you operate an e-commerce platform, health supplement store, or other related businesses. A payment facilitator is responsible for a number of tasks. Nutraceutical merchant account –. You Need to Open a Business Bank Account and a Separate Merchant Account. What is a Nutraceutical Merchant Account? Any business that accepts card-based payments must have a merchant account, which is a dedicated bank account reserved. com works with a number of sponsor banks that provide both domestic and offshore high risk merchant accounts. 00 USD. WEB entry classifications for online bill payments rose 6. Ways that nutraceutical companies can get their credit card processing in order. . Experian estimates that 30% of Americans have poor or bad credit, according to the company’s 2015 Vantage Score 3. We have the banking relationships and underwriting in place to support nutraceutical supplement credit card processing. At UniBul, we give you a nutraceutical merchant account with: Fast application approvals. The financial institution that maintains merchant accounts. 9683 Merchants Forum. Nutraceutical Merchant Accounts 2018. Home; Blog; Merchant Accounts; Best Nutraceutical Merchant Account Providers; Best Multi-Currency Merchant Accounts January 24, 2023. Nutraceutical Merchant Accounts;. The majority ofnutraceutical businesses spend their 1stfew months determining fulfillment, their ad bidding strategy, and other. This is true whether you sell digital goods online or physical items in-store. No additional work for you. Even though there is no law against the Nutraceuticals businesses, but banks and merchant services don’t accommodate the Nutraceuticals business. Why are Nutra Accounts considered High Risk? Many different terms and definitions are used in different countries, which can result in confusion. 1-888-909-4367. If your bank is unwilling to accept the risk associated with your industry, you will need a high-risk merchant account. PCI compliance fulfillment, including complementary vulnerability scanning for ecommerce and IP-connected terminal merchants. In fact, our low rate guarantee ensures you’re getting the. For these reasons dealing with merchant account providers and banks, the nutraceutical industry can be tough to sell. There are many companies out there in the market providing Nutra payment gateway and nutraceutical merchant account. The U. Signature Payments is the #1 payments company in the industry of high risk vape and E-Cig merchant accounts. But there’s also another industry that’s booming in Texas right now—nutraceuticals. With your account, you’ll have access to all of the incredible features PayDiverse offers, including: Free set up of your payment portal. If the bank. Banks and traditional. Regardless of what your product is, nutraceutical merchant accounts are often assigned one of the following SIC codes: 2833: Medicinal Chemicals and Botanical Products. Our specially. Our extensive relationships with credit card processors and sponsor banks who have the capability to underwrite regulated industries, in addition to our integration of chargeback and fraud prevention software, uniquely positions Soar Payments to provide “bad credit” merchants with stable, effective, long term credit card processing solutions. This way, you are denied any chance of getting your hands on a merchant processing account. You’ll need to send the following with your application: Three months’ worth of your most recent processing statements from your previous or existing provider (if applicable) Your chargeback ratio must be below 2. An offshore merchant account allows you to accept and process payments with bank cards over the Internet in 2023. COVID-19 changed cash for good. Nutraceutical merchants are first on the list of high-risk merchants. According to statistics from NACHA, 24 billion payments were made via an ACH payment in 2015. Simplify transactions with our cutting-edge method. Get started right now by contacting us online or giving our merchant services specialists a call at 844-661-0725. Our all-in-one merchant accounts include affordable e-Check/Credit Card processing, debit and ACH processing, a payment gateway, and chargeback protection. No longer will customers call to purchase or. 4% + 0. Your Resource For Merchant Services. 95%. Acquiring banks, who pay interchange to the issuing banks, decide whether or not to pass. Safeguarding your nutraceuticals' digital sales with best practices for secure payment processing ensures trust and reliability for your customers from. Due to lack of health regularization by the government, Nutraceuticals are tricky businesses to find merchant accounts. Published on January 30, 2022. Our merchant account managers offer expert advice and guidance throughout the relationship of your account. High Risk Nutraceuticals Merchant AccountThe problem, however, lies not just in finding an affordable bank or merchant-account provider and then opening an account but in keeping it open once you have one. Durango Merchant Services, on the other hand, has offered solutions for the telemedicine industry for many years. 2405(j), (iii) located in or operating under a license issued by a jurisdiction. Due to lack of health regularization by the government, Nutraceuticals are tricky businesses to find merchant accounts. The acquiring bank, or acquirer, is where the merchant keeps a merchant bank account. Nutraceutical merchant accounts doubts can be cleared with this 5 Star Processing article. Guaranteed CBD Merchant Accounts Approvals in 1 week. This replaced the old rates where the same payment would have cost $4. Nutraceuticals products are fortified food products that supplement diets with nutrients as well treat or prevent diseases. When you add secure online payments with bank transfers to your checkout page, you expand your sales, protect your customers, and increase your profits. top of page. Peptide Merchant Account. 855-562-ACH2; info@nationalach. Merchants can accept several payments, from bank cards to cryptocurrency, with a reliable ecommerce. 25. In fact, our low rate guarantee ensures you’re getting. 0 likes ×When seeking an ideal solution for adult merchant processing, that includes online dating, strip clubs, adult book stores, novelties, toys, and websites that require memberships for pornography, it can be a tedious process to successfully accept debit and credit cards. Learn the differences to keep your high risk merchant account up and running. Regulations: Another aspect that forces nutraceutical businesses to acquire a high-risk merchant account is the law. Look for vendors that use language stating they are friendly to your business. We at EMB, or eMerchantBroker. By doing so you will have the backing of a great bank and be able to grow without worry. Easy Pay Direct. Results of a transaction (approval / declined) are returned within seconds. See full list on merchantnegotiators. The nutraceutical business is prone to chargebacks for an assortment of reasons, causing merchant accounts for Nutra organizations to be viewed as high risk by banks and regulatory bodies. S. High volume Nutra merchant accounts are our specialty. Nutraceutical businesses can be very profitable. Due to lack of health regularization by the government, Nutraceuticals are tricky businesses to find merchant accounts. This is true whether you sell digital goods online or physical items in-store. They’re so well-established in fact that they work with over 60,000 merchants. Soar Payments vaping & e-cig merchant accounts, either directly or via a payment gateway, are compatible and integrate with the following ecommerce, POS and marketing automation platforms: Shopify, WooCommerce, BigCommerce, Magento, Volusion, ClickFunnels, InfusionSoft, and OntraPort. This is because of strict guidelines for processing credit card payments that go beyond the requirements of most other industries. When you open a merchant account, you’re really opening a line of credit to accept credit card. If you run a cash-only business, you can get away with not having a merchant account. S. Even if those products contain terpenes that are derived from cannabis, we can still provide payment processing. 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. Early warning chargeback prevention services. Like many other companies that are classified as “high risk” by lenders, nutraceutical companies have uphill battles when they seek nutraceutical company merchant accounts. Integrated fraud protection and alerts. Additionally, they are responsible for the collection of taxes and fees associated with the transactions. The main reason is that many payment processors and banks consider nutraceutical companies high-risk merchants. High-risk businesses typically operate in industries that are prone to chargebacks, fraud, and legal and regulatory complications, such as online gambling, adult entertainment, nutraceuticals, and e. High Risk Nutraceuticals Merchant Account. As nootropic sales continue to rise, more and more sellers are finding themselves in the position of needing merchant accounts, in order to accept credit and debt card payments and ACH payment processing. As our staff at FintechMerchantAccounts conducted our research on the nutraceutical industry (” Nutra”) we found that it is estimated to grow to a staggering $671 billion by 2024 worldwide. The agent gathered the information and promised to call me back after researching my questions. This is because of strict guidelines for processing credit card payments that go beyond the requirements of most other industries. This type of billing results in excessive chargebacks from unsatisfied customers because. No, we don’t mean the acronym you mutter when the loan officer at the bank refuses to certify your business as low risk. To comply with the FDA’s guidelines, nutraceutical companies must first apply for a high-risk nutraceutical merchant account. A high-risk merchant account is a type of payment processing solution designed for businesses operating in industries deemed high-risk by acquiring banks. Touchsuite is located in Boca Raton, FL and is a payment processing and point of sale company that specializes in merchant accounts, point of sale systems, Grubbrr self-ordering kiosks. According to Grand View Research, peptide sales are expected to peak at 48. If you sell supplements, diet pills, or any vitamins online, you’ll want a payment processor that keeps your account running. Digital Product Merchant Accounts. Understand Your Business Needs. We provide online payment solutions for your business. Same day ACH credits $3-5. ePay Global is a trusted name in the market for providing a high-risk payment gateway for the all types of business, with specialization in Nutraceutical Merchant Account. F 305. 9 million transactions, compared to 641. While traditional banks view companies in this sector as high risk, with a nutraceutical. The big tech companies are moving to Texas and there has been a lot of buzz about the Lone Star state being the next Silicon Valley. 30 cents USD per online transaction, and 4. Nutraceutical Merchant Accounts; Pharmacy Merchant Accounts; Ticket Brokers; Travel Agency Merchant Accounts; All High Risk Merchant Accounts (877) 441-6801; Apply Today!. Even if a traditional bank is willing to provide you with a merchant account, the fact that it considers your business to be high risk does not change. SeamlessChex can set your business up with a nutraceutical merchant account you can trust. The Challenges of Nutraceutical Credit Card Processing. For example, if the merchant has an account with their processor that is priced at a discount rate of . Because high risk businesses come in all shapes and sizes, SMB offers 2 gateway solutions – NMI and Authorize. (250) 356-4544. High volume accounts. Unfortunately, this leaves nutraceutical business owners. Navigating FTC Compliance and Avoiding Legal Pitfalls in the Supplement Industry. Businesses are often prohibited from accepting payments and processing transactions by underwriting banks. STEP 3: REGISTER FOR TAXES, OPEN A BUSINESS BANK ACCOUNT AND SET UP BUSINESS ACCOUNTING. Gather the required information before beginning the application process for your nutraceutical merchant account: Banking Information: Personal and business banking account information along with statements (up to 3 months) may be requested. Secure, dependable payment gateway. Our check solutions offer fast ach deposits to your existing business checking account for quicker cash flow. “Best Nutraceutical Merchant Account Providers,” January 10, 2017, at. Our plans are intended to give you the ease that you want to run your. Our merchant account managers offer expert advice and guidance throughout the relationship of your account and will help you prevent fraud, reduce chargebacks and increase profits. If you run a cash-only business, you can get away with not having a merchant account. Its expertise helps merchants in getting a well-suited payment processing service to the. You have to meet your customer’s expectations by providing a way for them to pay via a debit or credit card. After convincing people to buy dietary supplements and herbal products online, nutraceutical merchant accounts rely heavily on front-end payment gateway technology when accepting credit and debit cards for their sales. Our merchant account managers offer expert advice and guidance throughout the relationship of your account and will help you prevent fraud, reduce chargebacks and increase profits. Who is DigiPay Solutions? The processor of choice for the world’s leading nutraceutical companies, DigiPay Solutions has a global network of partner banks, payment experts and an elite portfolio of tailored solutions. By partnering with Get Payment, nutraceutical business owners can access secure and efficient payment processing solutions that address the challenges associated with the nutraceutical sector. Bank transfers are the safest online payment method available for nutra merchants. We current service and support over 250,000 merchants and 3,500 Banks and Credit Unions since 1960: - Credit/Debit Card Payment Processing & POS Equipment - Electronic Check and ACH Payment. PaymentCloud is the #1 provider for Nutra and supplement credit card processing because we can connect directly to the software and solutions that your business already uses. picture identification. Langford Parkway Branch. More. There are nearly 40 authorized credit unions operating in the province today, with some of them. While products change, one thing that stays the same is the hassle of locating a nutraceutical merchant account provider. Any merchant account provider that is allowing you actually to accept credit cards is doing so by defrauding their member bank. It seems bankers and merchant-account providers do not like the dietary-supplement industry. “High risk” businesses include everything from car dealerships to e-cig vendors, and even merchant credit can have an impact. Nutraceutical products (commonly known as Nutra products) have formed a billion dollar market. Due to the chance for legal action in such a loose and unregulated market, th. net. Before diving headfirst into the application process, assess your business needs. A processor connects to the merchant on behalf of an acquirer via. 2) US Corporation. The potential of growth is thus ignored in favor of playing safe. Nutraceutical Merchant Accounts; Pharmacy Merchant Accounts; Ticket Brokers; Travel Agency Merchant Accounts; All High Risk Merchant Accounts (877) 441-6801;. In every transaction that occurs in your account, your merchant ID number is used. The requirements for keeping the account will be more stringent and the maximum chargeback rate will be lower than for other, lower-risk. Unfortunately, a customer may request a chargeback after the payment has already been deposited into your bank account. Ensuring merchants have reliable and consistent payment. To get a nutraceutical merchant account, an online application is the quickest way to an approval. 25. In other words, a nutraceutical merchant account is necessary for any business that wants to be able to receive money from customers remotely, over the phone, or on the internet. The first step is to choose a processor that offers payment processing services tailored explicitly for supplement businesses, like Vector Payments. UniBul’s Nutraceutical Merchant Account. 7650 South McClintock. Traditional banks are not going to make it easy to open and maintain a merchant account for a nutraceutical business. Customer Support +1 (516) 217-1989By establishing a merchant account reserve, your processor can safeguard their funds, even if it imposes additional difficulties on you. Nutra Payments Offers Retail & High Risk Nutraceutical Merchant Accounts. We provide offshore merchant accounts for existing businesses that process at least $50,000 per month. High Risk Nutraceutical Integrations. Selling nutraceuticals is an interesting business. While SARMs merchant processing can be hard to find occasionally with some banks, the Allied Payments team has. More. Because nutraceutical vendors are considered high risk merchants, accepting card payments can be a challenge; but not being able to accept these payment methods will almost certainly stifle the growth potential of the business and. The best time to get nutraceutical merchant accounts is right now in 2020. eDataPay can set your business up with a nutraceutical merchant account you can trust. Here at Integral Pay, we have have a superior amount of knowledge on Nutraceutical Merchant Accounts and will work with our bank acquiring partners to give you the best. 2 billion in acquired debt, and these numbers just continue to grow with every passing year (approximately 15% each year since). Nutraceutical merchant accounts, offered by specialized payment processors, utilize top-tier security. High Risk Nutraceuticals Merchant Account. . Allied CardPay provides affordable, reliable nutraceutical merchant account. The label “ high risk A merchant that is considered a high risk based upon the credit,. British Columbia is a hub when it comes to cooperative banking. The nutraceutical industry — or nutra industry — has seen huge growth over the last 10 years. Third is vaping and e-cigarettes. S. Multi-bank and offshore payment processing. This aids in ensuring that their product offerings adhere to the standards. Challenges that plague the supplement industry also put the owner's nutraceutical merchant account in danger of shut down. Compare quotes from merchant providers who understand supplement & nutraceutical payments! Access 90% of UK's leading merchant acquiring banks. Durango Merchant Services: Best for highest-risk businesses. 70 70. Our Nutraceutical Merchant Account Services. The debt collection agency industry is one that grossed over $10. A Merchant ID number (MID), is a unique code assigned to a merchant by their payment processor. This is based on a small business with a physical office location. Our staff of continuity professionals will help businesses set up their billing programs through our high risk banking network. If you sell supplements, diet pills, or any vitamins online, you’ll want a payment processor that keeps your account running. A high-risk merchant account is a type of bank account designed for businesses considered high-risk by financial institutions. One study showed the average value of a cash transaction was $22, compared to $112 for the average non-cash transaction in 2019. Therefore, most nutraceutical companies will have to use a partner who specializes in high-risk merchant A business that accepts credit cards for goods or services. ACH Payments on the Rise. About Us Contact Us Blog. Nutraceutical merchants can get their own account by choosing a merchant account. 3. An automatic clearing house or ACH payment is an electronic means of either depositing or withdrawing funds from a bank account. Safe payment is made directly from the consumer’s bank which authenticates the buyer during the transaction and informs the merchant of authorization. RBC Financial Group - Commercial Financial Services, V. Documents. Therefore, banks consider nutraceutical merchants too high of a risk. Most e-cigarette merchant accounts use one of 2 pricing models; tiered pricing or cost-plus pricing, also known as interchange-plus pricing. The American nutraceutical market is expected to grow up to. Banks. For any E-commerce site, to accept payment by multiple means you need a proper payment gateway and a merchant account that supports your needs. Furthermore, there have been incidents of businesses selling CBD using merchant accounts to sell products with THC much higher than the 0. The American Clearing House (ACH) offers a type of payment that is 100% electronic but does not involve a credit or debit card. The nutraceutical industry — or nutra industry — has seen huge growth over the last 10 years. Quick & Easy Merchant Account Setup! Contact our nutraceutical team. Who is DigiPay Solutions? The processor of choice for the world’s leading nutraceutical companies, DigiPay Solutions has a global network of partner banks, payment experts and an elite portfolio of tailored solutions. The Best High-Risk Merchant Accounts of 2023. services that are. It’s undeniable that the nutraceutical market goes on growing at a rapid pace. This alert system helps keep. . Organizations that deal with a large number of. 3) US Signer – Typically a US resident with >50% ownership is the signer but LLCs can be “Manager-Managed”. However, your business can be at high risk or those who have acquired a bad credit from the bank. In the fast paced world powered by technology, new health complications are surfacing everyday and leading to lifestyle. Nutraceutical Merchant Accounts; Pharmacy Merchant Accounts; Ticket Brokers; Travel Agency Merchant Accounts; All High Risk Merchant Accounts (877) 441-6801;. 4 million US dollars by the year 2025. Domestic High-Risk Merchant Account Requirements: UK or US based. Allied Payments specializes in high-risk merchant accounts. NUTRACEUTICALSNutraceuticals Payment processing for Nutraceuticals Nutraceutical merchants online credit card processing solutions from a reliable nutraceutical merchant account. C. Gain access to an extensive network of domestic and international banks to satisfy your processing needs. Typical reasons people purchase these products include. The broker also negotiates the terms and fees of the funding. Finding a knowledgeable payment processor is better to help your nutraceutical merchant account get through all legal actions. (NMI) – With their load balancing feature, manage multiple merchant accounts through one gateway and automatically route transactions to specific accounts. The nutraceutical industry, or “nutra” industry brings in a yearly revenue totaling roughly $181. Get the processing capacity you need to manage & grow. Square’s current transaction fees for CBD payments range from 3. I. If processors and banks carefully manage the risk associated with RCC transactions, the potential for fraud can be somewhat reduced. Best Banks & Credit Unions in Victoria, BC - Coast Capital Savings, Td Bank Financial Group, Vancity Savings Credit Union, Rbc Royal Bank, Island Savings Credit Union,. Third is vaping and e-cigarettes. Take Advantage of our Net 30 Account to help you grow your business credit. 2405(j), (iii) located in or operating under a license issued by a jurisdiction that. search for long-term solutions for your nutra deals. A nutraceutical merchant account is a custom-made bank account for businesses in the nutra space. Banks & Credit Card Processors Are Not Impressed. Both provide businesses with complete ecig merchant account services with various fees for account services, network services, and other transactions. 404. We have the staff and experience to help you jump start your business in as little as 48 hours!. With regulations on payment processing getting more strict, you will need a solution you can rely on. The bank assigns this number when a business applies for a merchant account with the processing service. The nutraceuticals industry is booming in the United States, but how is it fairing around the world? In India the nutraceutical market is growing at a rate faster than in the U. The wrong choice can be costly. Nutraceutical Merchant Account; Recurring Billing; Subscription and Membership Merchant Accounts;. Executed eSigned Merchant Agreement. But. Excessive chargeback rates over 1% are the number one reason most merchant accounts are terminated. Sponsor banks are responsible for ensuring their partners have strong compliance programs in place, including a. Durango Merchant Services for Telemedicine Merchant Accounts. It can be any kinds of foods or supplements that can be considered medically or functionally beneficial to ones body. Oct. This is often a way to get around big banks’ refusal to underwrite adult businesses, but it has another hidden advantage as well. These can all be flags for a high risk merchant account. Check out our nutraceutical merchant accounts today and. Most conventional banks and Merchant Processors will not provide services to companies like this. Low conversions equally affect how an acquiring bank sees your ability to generate revenue and meet monthly sales targets. The growth of online bill payments expanded so that Americans are now comfortable paying for goods & services on a regular. 503. Hence, enhanced. Kelly Bissell. As a growing industry, the demand for nutraceuticals and dietary supplements see no end in sight. Gain access to an extensive network of domestic and international banks to satisfy your processing. Skip to content. Herbal Products and Nutraceutical Merchant Account . Nutraceutical products are increasingly becoming more and more popular all over the world. Free setup and zero upfront fees. With high chargebacks, continuity billing and excessive friendly fraud cases, it is not surprising that nutraceutical merchant processing is considered higher risk for traditional banks and payment processors. Get Your Financial Sources Together. Accept Payments Today. 9% CAGR and an estimated $5 billion USD growth between 2016 and 2024 (up to $6. The accounts enable acceptance of payments from customers in the US and overseas. As a rule, nutraceuticals use the following NAICS code:. Processing payments through acquiring banks in the. Contact Us. A bank letter or a pre-printed voided check; 3 months of the most recent bank statements; 3 months of the most recent processing statements, if applicable;Call us Toll Free (866) 509-7199. $250 times 6% equals $15. As a merchant, your best chance of opening a Nutra merchant account is dealing with a high-risk payment processing provider for your payment processing services. There are payment processors who specialize in high-risk merchant accounts. 4 billion as of 2015, and is estimated to reach $204. Home;. We are living in an age when leading a healthy life no longer means eating healthy and getting enough exercise. Obtaining nutraceutical credit card processing is a challenge sellers face. Magazine subscription payment processing is often subject to high levels of chargebacks and fraud, and as a result, can raise red flags with sponsor banks. S. Free application with no obligation. The reason is that more and more people are looking into natural cures for their ailments. Overview; Our Partners;. They’re so well-established in fact that they work with over 60,000 merchants. This type of merchant account allows businesses to accept credit and debit card payments from customers and process them securely. A nutraceutical product is a purified or isolated item that must have the ability to combat chronic diseases or have a physiological benefit. The accounts enable acceptance of payments from customers in the US and internationally. A Nutraceutical Merchant Account allows business owners to accept credit card payments for the high risk nutraceutical industry. Nutraceutical products are normally classified as high-risk. Understand Your Business Needs. But why would banks avoid my business when the industry is. Visit our website and get to know more. Allied Synergy Group provides affordable, reliable nutraceutical merchant account solutions with fast approvals. Online payment processing is not limited to debit and credit cards anymore. Dedicated to negotiating the best terms for your supplement & nutraceutical business. A processor connects to the merchant on behalf of an acquirer via. For an instant quote on an Instabill nutraceutical merchant account, call us directly at 1-800-318-2713 or simply click the button to get started. Easy Pay Direct. RBC. The sale of peptides online through the use of credit card payments is deemed high risk by many banks in the US. 28 billion in 2019, according to Grand View Research. FintechMerchantAccounts works with nutra merchants understand how tough it can be for Nutra business owners like you to get approved for standard. Let your experts show you how to obatin a high risk Nutraceutical merchant acount, lower the number of possible chargebacks you will incur, and also prevent unnecessary fraud. Don’t let payment processing issues hold you back – contact QuadraPay today to learn more about their services and how they can help your nutraceutical business thrive. Diversify your nutraceutical merchant accounts to mitigate risk. 0 data. government regulates nutraceutical businesses, which means these. Banks weigh the risks associated with a business. A start up mineral nutraceutical business needs the ability to accept payments for online sales. C. In the event, if you are included in Nutraceutical deals, as you know that it can be hard to acquire merchant services for Nutra product sales. Merchants who utilize negative option billing to sell physical goods, will be deemed “High Risk Merchant”. PayDiverse works closely alongside nutraceutical merchant accounts to avoid detrimental and unwarranted chargebacks, fraud and account closures. banks consider nutraceutical businesses to be high-risk because of the high chargebacks, lack of regulation of the product’s ingredients. Nonetheless, experienced payment companies. 2371 or 50 U. So, merchants in this industry need to find a way to obtain one. While the issuing bank will investigate the. 4 billion as of 2015, and is estimated to reach $204. Embrace efficiency and ease!Pricing for Vape Merchant Accounts. This is because we do not grade supplements and vitamins as high risk companies. This means that ISOs act as the middlemen between acquiring banks and the businesses that are looking for electronic payment processing solutions. eChecks. This allows the acquirer to offer payment services to their clients. A Terminated Merchant File is used by processing companies to screen merchant account applicants. An ACH merchant account allows. Just because nutraceutical businesses are considered high risk doesn’t mean they should be subjected to high merchant account fees. The global outlook for nootropics is also impressive, with a 17. Gain access to an extensive network of domestic and international banks to satisfy your processing needs. An acquiring bank is the merchant account provider and processor of card transactions on behalf of the merchant. Preferential rates exclusive to Merchant Advice. Credit Card Processing for Vitamins. If. Authorize. 9% to 685. To get approved for a nutraceutical merchant account in 48 hours click below or call 1-800. under a license issued by a jurisdiction whose government has been identified by the U. ARE YOU IN NEED OF SUPPLEMENTAL CREDIT CARD PROCESSING FOR YOUR. Without a merchant account, you will not be able to accept payment via credit card or debit card. WHY CHOOSE US; Choose your Industry. This type of credit card processing for nonprofits generally carries a transaction fee amounting to 2. Nutra products range from oral supplements to teas, tinctures and salves. A nutraceutical merchant account is a type of merchant account that is specifically designed for businesses that sell nutraceutical products, such as dietary supplements, vitamins, and other health-related products. Users can also take advantage of the tax-deferred growth offered by the account.