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 Merchant Services for High-Risk Supplement Businesses
By Logan McAuliffe
 Posted August 10, 2017
 In Credit Card Processing, High Risk Merchant Account
Merchant Services for High-Risk Supplement Businesses2017-08-102019-11-25https://www.leappayments.com/wp-content/uploads/2019/09/leap-payments-logo-small-header.pngLeap Paymentshttps://www.leappayments.com/wp-content/uploads/2017/07/nutraceutical-supplements-merchant-account.jpg200px200px
0

The nutraceutical and supplement industry got a bad reputation from a few different companies that were using unsavory selling tactics, making it harder to obtain a supplement merchant account for other businesses. One of the more common tactics is to offer a “free” sample and require the consumer to pay a one-time “processing fee” and shipping costs. Typically, the fee and shipping are not that much, so the consumer believes they are getting a great deal.

However, what they do not know is that by agreeing to the “free” sample product, they are also being enrolled in a monthly subscription program for a set period of time. If they cancel prior to this time, then they are charged a hefty amount for the “free” sample, along with an “early termination fee”.

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Once customers realized they had been duped into buying a subscription they did not want or were being told termination fees would be charged to their credit or debit card, they would dispute the charges through their credit card provider. Most credit card issuers were quick to refund the money because they agreed the customers had been misled when initially sold their “free” sample.

Tragically, the sales tactics of a few “bad apples” had far-reaching consequences for legitimate nutraceutical and supplement operations when it comes to accepting debit and credit card payments. In fact, many merchant account providers stopped offering supplement credit card processing solutions for these types of businesses.


Others reclassified this industry as high risk with extremely high rates for a supplement merchant account. Unfortunately, this left many honest operations stuck between paying more to process credit and debit payments or risking losing business if they only accepted cash and check (ACH) payments.

Finding the Right High-Risk Supplement Merchant Account Solution

It is important to ask the right questions and read all the “fine print” before signing a high-risk merchant account provider agreement. Even in the merchant account provider industry, there are questionable providers who take advantage of businesses classified as high-risk operations. Some have a “take-it-or-leave-it” attitude, making it seem like they are the only the provider you can use.

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Luckily, that is not the case, and there are ethical and reputable merchant account providers out there, too, like us, here at Leap Payments. We understand the complexities of trying to start or operate a legitimate nutraceutical and supplement business.

You not only have to make sure you are following all the rules and regulations in labeling various supplements and products but in also adhering to strict advertising requirements. The last thing you need, on top of all the other challenges of running your business, is trying to find a trustworthy merchant account provider.

At Leap Payments, we offer upfront honest pricing, explain all fees clearly, and work with you to help you find the best credit and debit card processing solution to fit your business needs. Plus, we review your account on a regular basis and identify ways to reduce transactions fees. To learn more about our high-risk nutraceutical and supplement merchant account solutions and how we can help your business, call us at (800) 993-6300 today!

Save time shopping around for the best high risk provider!

Call Leap Payments at (800) 993-6300 Today!

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High Risk Credit Card Processing Solutions, High Risk Merchant Service, High-Risk Merchant Account Providers
Logan McAuliffe
Logan McAuliffe
Merchant service expert, Logan McAuliffe, is a marketing writer for Leap Payments. His interests include playing sports, music and graphic design. Leap Payments is the industry leader in credit card processing and merchant services, offering both high-risk and traditional solutions.
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