M&M Merchant Card Services Inc.



NUTRACEUTICALS



NUTRACEUTICALS



Nutraceuticals collectively make up a massive $230+ billion industry, with tens of thousands of companies selling products that offer various benefits for consumers. Nutra business commerce takes place all over the world, whether it’s online, in person, via mail, or over the phone.

Nutra businesses — including companies which sell herbal supplements, cosmeceuticals, and other nutraceuticals — typically have a preferred CRM or marketing automation software platform they use. Because Soar Payments works with most major payment gateways (including Authorize.net, USAePay and NMI), our merchant accounts integrate with most popular software suites used by businesses in the nutra industry including:

Shopify, WooCommerce, BigCommerce, and similar ecommerce platforms, as well as marketing automation platforms like ClickFunnels, InfusionSoft, and OntraPort.



WHAT CRITERIA DOES MY NUTRACEUTICAL BUSINESS NEED TO MEET, TO BE APPROVED FOR A MERCHANT ACCOUNT BY SOAR PAYMENTS?





To be approved, nutraceutical businesses must meet the the following criteria:

* Must not offer “free plus shipping fee” deals, or free trials with nutra products;

* Subscription length must be 12 months or less (no subscriptions over 12 months);

* Must not sell products which contain ingredients on the banned list;

* Must not make exaggerated health claims on product advertising.



WHY ARE NUTRACEUTICALS BUSINESSES CONSIDERED "HIGH RISK" BY BANKS AND PROCESSORS?





Nutra businesses are considered high risk for two main reasons:

1. The industry is regulated. Nutraceuticals businesses are regulated by the US government, and cannot make certain promises about their products without having supporting clinical trials. Reviewing a nutra merchant account application for compliance with these regulations requires extra underwriting due diligence by the credit card processor.

2. Nutraceuticals businesses are vulnerable to high chargeback ratios. While most nutra businesses maintain happy long-term customers, they are vulnerable to high rates of chargebacks, particularly when using subscription based models. This poses significant financial risks to the credit card processor.



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