Process Credit Cards for Pharmacies | Pharmacy Merchant Account
The Transaction Group (TTG) provides offshore processing solutions for US and international based pharmacies.
Historically, obtaining a merchant account for a pharmacy was a very challenging task. Not only did the pharmacy have to locate a reputable off shore processor, but the business had to establish an offshore presence as well. That’s a heck of a lot of work to do before the pharmacy could even open for business.
But today, our processors allow online pharmacies to process off shore without having to set up a business presence offshore, as long as your monthly credit card processing volume is below $200,000. And once your pharmacy reaches $200,000 a month in credit card transactions, our processors will assist you in setting up an offshore presence.
At some point all high volume pharmacies will have to set up off shore, but it’s nice to know you don’t have to do that as a precondition of getting approved for your merchant account.
There are many other advantages that accompany our cost-friendly credit card processing solutions for pharmacies. For more information about our pharmacy merchant accounts for US and international businesses, or to get started now, apply online or call us today.
Processing Risks Regarding Pharmacies:
Perhaps the most important risk factor card processing companies examine when evaluating a merchant account application by a pharmacy is the capacity for charge backs the business might possibly generate. Why? Well the reason is that should a charge card service permit a merchant to persist in processing charge cards while having a significantly greater charge back ratio than meets the approval of the charge card associations, it could receive substantial fines. Besides that, if your drugstore incurs a great number of chargebacks and then cannot handle the ensuing debt, its processing financial institution is required to.
Other variables shaping whether or not a business venture will be called risky include the owner’s personal credit score, your sales procedures, higher than average pricing of products, as well as whether or not the sales model is subscription centered or possibly makes use of recurring payment methods.
For online pharmacies that are not new ventures, if your pharmacy already has an excellent processing track record, you will have much more control with regard to discussing processing rates with the merchant credit card issuer. Even though your business type is evaluated as being ‘risky’, you can still obtain competitive terms when your business venture has got a sound history. However, if your enterprise carries a weak credit card processing history, it may well be more of an undertaking to get approved. And of course, if your business is lucky enough to then get approved, you will likely be subjected to a higher processing rate.
On account of the larger chance of fraudulent behavior, a lot of drugstore merchant accounts contain additional stipulations which can include expanded fund transfer waiting times, security reserves, and limitations on sales pricing (not to mention increased rates and fees).
Your Next Step:
Here at TTG we understand the obstacles which decision makers encounter when looking at acquiring a reputable, cost-friendly merchant account for your pharmacy. Personalized relationships are important in the high-risk merchant services sector, and consequently we now have an array of connections with processing companies that will ensure that we are able to find the right merchant account to match your organization.
Need immediate assistance? Complete this form or call us today at 888-383-8056.
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Are you shopping for a better rate? Let us save you money!
Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!
Why do businesses choose to work with The Transaction Group?
- We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
- We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
- We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
- We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
- We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
- We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.