If you are looking for a Pharmacy merchant account, there are a number of factors to consider before you apply with any one particular company.
Why is that?
Because the truth is that few merchant account providers can (and want to) actually help you.
So what can you do?
How to get a pharmacy merchant account
The first step is to work with a company that specializes in accounts like yours.
However, even the majority of “high risk merchant account providers” have difficulty working with online pharmacies because of understandable restrictions imposed on them by the industry.
The fact remains that you need to process credit cards online to survive.
So, your first question when speaking with a high risk merchant services companies ask if they will work with online pharmacies. And if your business is located outside United States this is even more important to mention.
Next, you need to make sure you have all the required paperwork ready. And this goes double for offshore or international accounts.
Finally, you need to have the locations of the process.
Rarely is it possible to get an approval within 24 to 48 hours.
And with accounts like yours the merchant processing industry prefers caution over speed. Additionally, the sales rep or person you’re speaking with may have to shop your account to a number of different companies before he or she gets approval.
The bottom line is this:
- you’ll need to work with a specialist
- you need to get your documentation ready (and this may include bank statements and tax returns)
- and you’ll need a little patience with the process.
If you follow all the steps you should have no trouble eventually getting an account that’s right for your business.
I hope you found this information helpful. Please feel free to share your comments below.
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