Pharmacy Merchant Accounts

Written by admin

Topics: Merchant Services


In this day and age, it is not surprising to see a new online pharmacy company become dominant in its field without having heard of them. It seems as though online pharmacies are becoming very common and doing very well. But what you may not know is how difficult it is for them to get a merchant account. Online pharmaceutical merchants are considered to be high risk businesses and require what is known as a high risk merchant account. High risk merchant accounts are like the name says, very risky for the bank and usually come with extremely high rates.

This is where you can count on Worldwide Merchant Services. WMS is able to provide offshore online merchant accounts and card processing at very competitive pricing due to years of building connections and bargaining down rate plans with hundreds of offshore merchant account providers. WMS approves 99% of its high risk business merchant accounts every month including many pharmaceutical companies. We understand the importance of offshore trading for pharmacies in order to keep profits high.

What kind of rates do pharmacies pay for offshore merchant accounts?

All rates are determined on a case by case basis. Generally, pharmacies who are more established and who process more than $1,000,000 per month will most likely qualify for a rate between 4% and 6%. New start up pharmacies and high risk businesses who processes lower amounts of volume such as $50,000 and below will qualify for a slightly higher rate at around 6% – 8%.

How long does it take to receive an approval and start processing credit cards the pharmacy merchant account?

Worldwide Merchant Services usually receives an answer of approval from its extensive list of high risk merchant account providers within 2-3 business days. After receiving an approval from the qualifying bank, the account can be setup in as little as 24 hours.

Don’t Wait. Signup Today

Applying for a pharmaceutical merchant account is fast and painless. All you need to do is fill out the application online and your information will be sent right away for approval.

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