The 10 Best Nutraceuticals Merchant Accounts
Nutraceuticals are defined as products that are isolated from foods yet sold in medicinal forms. Moreover, they are categorized as food that provides health benefits such as the prevention of and treatment of disease. They seem to be a more affordable solution to the exorbitant costs of medical treatment seen in most developed countries today.
The global nutraceutical market is estimated at 117 billion US dollars. Currently, the US, European Union, and India are the largest nutraceutical markets. However, China is moving closer to surpass them by the year 2030.
This massive market growth is clearly catering to an insatiable demand for consumers to take control of their health. Most would think that merchants entering this lucrative industry would have zero problems opening their doors and acquiring their merchant service accounts. However, this is simply not true.
Banks consider these businesses high risk because of higher incidences of chargebacks and continuity billing. Also a lack of regulation as well as the questionable benefits of such supplements, especially in the US, makes banks leery about offering merchant accounts.
Businesses that are operating legitimately do not have to fear and be left out of the game. Below are 10 reputable merchant service providers that are experts in the field of nutraceuticals and are more than willing to get merchants up and running.