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Payment Processing

Nutraceutical Industry

The nutraceutical industry has seen astonishing growth in the last few years, with an estimated revenue forecast of $722.5 billion by 2027. Despite the increasing market, selling nutraceutical products online can be difficult without the proper payment processor. As a high-risk business, you need a merchant account with a provider that’ll keep you operational and compliant with all regulations. AllayPay is here to help with our growing network of banks and financial institutions that we know won’t immediately turn you down, your business will be able to get started or continue accepting card payments and processing them with easy-to-use technology and services.

Why Are Nutraceuticals Considered High Risk?

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Since nutraceuticals are considered high-risk, obtaining a merchant account from traditional payment processors is an uphill battle. This is due to a few reasons:

  • Policies: Even if you do obtain a merchant account, your business is still at risk of disruption. Most processors have a policy against selling nutraceuticals. If they were to discover what you sell, there’s a likely chance that your account will be closed.
  • Chargebacks: The nutraceutical industry faces a higher risk of chargebacks than others. Due to this higher rate, nutraceuticals are labeled as high-risk.
  • Fraud: Since nutraceuticals are a massive industry, there’s an increased chance of fraud than other markets. When banks notice this trend in a market, they’ll quickly label that industry as high-risk.

For over 5 years, AllayPay has been one of the top providers of merchant accounts for nutraceutical companies. It doesn’t just stop at the approval process. AllayPay will ensure you have access to the latest software solutions and tools to help grow faster in this multi-billion dollar industry. This includes providing gateways that will automatically load balance your volume should you choose to have multiple processing accounts. We also have cash discount and surcharging options available for retail merchants looking to save thousands each year over their existing merchant provider. What are you waiting for? Contact us today!

How to Apply for a Nutraceutical Merchant Account

To apply and get approved for a nutraceuticals merchant account with AllayPay, you’ll need specific documentation to begin your application process. Here is what you’ll need:

  • Driver’s license, or valid government ID
  • Last 3 Months’ Business Bank Statements, if available
  • Last 3 Months’ Processing Bank Statements, if available
  • Additional support may be requested
Apply Today!
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How AllayPay Can Help

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With nutraceutical products rising, getting access to several markets will be a top priority for your business. With AllayPay, we know the industry and can integrate a payment gateway that will work for you.
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Most merchant accounts you try to set up will have a long process, only just to be turned down at the end because you sell nutraceutical products.
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When you have a partner like AllayPay who understands the industry, we’ll help you so you don’t have to bend over backwards to set up your account.
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Within 24-48 hours, we’ll be able to integrate our payment process platform with any third party gateway, so you can get your business up and running as quickly as possible.
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Not only that, but we stay up-to-date on all compliances and rules set by the bank to ensure your account doesn’t get shut down.
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Starting Your Payment Approval Process with AllayPay

Getting started with AllayPay takes only a few simple steps. By following these instructions, you’ll be on your path to securing online and in-store payments for nutraceutical products.

  1. Fill out the quick pre-application form online.
  2. Our sales representative will get in contact with you immediately to finish your application process.
  3. Take a break while underwriting does its process. This typically takes about 24-48 hours.
  4. After our staff has approved your application, we’ll contact you to get started on setting up your payment gateway and card present merchant account for your business.
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Process With Us Today

Don’t waste any more time trying to find the right solution. Regardless of your industry, poor credit, or lack of payment processing history, we’ll work with you to get you on track for quick and efficient payment processes.

Apply Now