A number of international pharmacies are serving merchants that buy and sell medicines over the internet. Pharmacy merchants are among high-risk traders that are often rejected by the credit card processing services. Out of a vast majority of online services that are driving the business world, pharmacy merchants are amongst the most profitable ones.
Both in the UK and US, it’s more expensive to perform pharmaceutical trading. Profit maximization turns easier for most offshore traders. That’s one reason why most of them conduct business offshore.
The risk factor associated with this business seems to be the main cause behind rejection of their merchant account applications submitted with banks. Pharmacy merchant accounts are frequently issued once they are approved by offshore banks that fall within the Payehub network.
How to Go about Pharmacy Merchant Accounts?
Payehub has developed partnerships with a number of acquiring banks located in offshore locations. These banks are specialists in serving high-risk businesses with high-risk merchant accounts. Keeping the specific needs of individual merchants in mind, we provide them with customizable accounts. For enjoying the benefits, you may consider submitting your business details with any of our merchant account managers. Get in touch with us today to know more about these accounts.
Pharmacy Merchant Account Rates
We assess the rates of pharmacy merchant accounts on the basis of individual cases. A pharmacy merchant has to bear about 4 to 5 percent of his merchant account if his sales turnover is higher than $1 million every month. Rates worth 6 to 7 percent are offered to online pharmacy merchants whose sales turnover is lower than $50,000 every month. You mustn’t hesitate to inquire about specific rates by contacting our representative.
Pharmacy Merchant Account Approvals
You won’t need to pay anything while filling out your Pharmacy Merchant Account application with Payehub. We usually take about 2 days to get your merchant account approved. The merchant acquires all the terms and conditions of processing credit cards set by the bank. Such information is communicated to him by the Payehub account manager soon after the latter achieves the notice of merchant account approval.
Once the offer is accepted by the merchant, he receives an email stating his merchant account contract. He is then required to sign the contract and send it back to Payehub. The request is then processed online within a period of 24 to 48 hours.
PayeHub is very flexible. Based on your needs and your business type, they will provide you with limits specifically decided for your unique business."I appreciated getting straight forward answers when I called about the rates." Thank you for the support.- Lewis Garcia,Miami FL
I've had to deal with many companies and businesses in the process of setting up my business and you have by far given me the best customer service of the bunch. It's refreshing to actually get quick responses and exact information. I never thought I'd be so thrilled dealing with PayeHub !"- Robert Hall, New York NY
I look forward to working with PayeHub. I can tell already that I've made the right choice. Your customer service is amazing. Thank you for your willingness to accommodate me. It truly means a lot. If I know of any businesses that are looking for credit card option payments know that you'll certainly be recommended. Thanks for going the extra mile."- Ankit Surani ,Charlotte NC