Peptide And Research Chemical Merchant Account
The global peptide industry is expected to cross over 48.4 billion US Dollars by the year 2025 as per Grand View Research. The Global Peptide sales have extraordinary potential to grow. Peptide merchants can perform well if banks offer processing facility to this industry. Right now acquiring banks and card schemes are not comfortable with Peptides Merchant Accounts. Same goes for Research Chemicals Business. It used to be easy few years ago to get local processing accounts for peptide sales. Unfortunately, most of the banks in the USA, European Union, EEA and the UK are against this industry. Getting a direct MID has also become a tough job. Quadrapay understands this challenge faced by High risk merchants. We have performed extensive research on possible processing solutions for this industry. We recommend peptide merchants to use ACH and Echeck solutions to stay in business.
Best Peptide Merchant Service By Quadrapay
ACH and Echeck are few of the best peptide merchant service solutions that come with Virtual Terminal. When you get an echeck account, you will be able to accept orders over the website and also over the phone. You can also receive payments face to face at your retail store. Many merchants sell peptides and bodybuilding supplements by using echeck and ACH. These are awesome alternative modes of payment processing modes. These third-party ACH payment processors offer weekly payouts to start up merchants. High volume merchants may also qualify for same day payout and 72-hour funding. The fast settlement certainly makes echeck one of the best payment processing solutions. Check processing companies can also offer voice verification facility. This verification can help merchants fight cyber crimes and fraudulent orders. USA Echeck can also cater to merchants who need high volume solutions.
Echeck is also very useful for merchants from many of the following industries. Herbal, Ayurveda Products, Adult Entertainment, Legal Gaming, Binary, Forex Options, Replica, Online Pharmacies, Non-Branded Handbags, Online Dating, Technical Support, Bodybuilding enhancement Supplements, Weight Loss, Kratom, e-cigs, Debt collection, Watches, Cannabis Seeds, Salvia and MMJ. Please note many of these industries can not get card processing solution because of regulatory and legal restrictions.
KYC For Peptides And Research Chemical Merchant Account.
KYS must be submitted if you need Merchant Accounts for Peptides. Research chemicals and Peptides merchants send copies of business documents to the processor. The first step is to fill a detailed merchant account application. Business owners should be cautious about filling the details on this form. Incorrect information can result in rejection of the merchant account application. We advise merchants to look at every field and then put in the precise information. You should be extra careful about putting the details like these.
- Monthly Sales Volume
- Largest Ticket Size
- Smallest Ticket Size
- Number Of Sales Every Month
- Average Ticket Size
These figures help the processing company to check the credit risk of the applicant. Let’s look at other KYC documents for getting a research chemical processing solution.
- Proof of the registration of the business.
- Business bank account statement.
- Previous year profit and loss statement. (Optional)
- Last year tax statement. (Optional)
- Last six months processing statement. If you expect high monthly volume caps then the processing statement is must. The statement should relate to the expected sales figures.
- ID and Address proof of all the business owners.
- Cancel cheque or Letter of good standing from the business bank.
- Supplier agreement for the products sold or manufacturing licences whichever is applicable. (Optional)
- Business plan. (Optional)
- list of existing well-known clients. (Optional)
Apart from the KYC mentioned above the provider may ask for other documents. To increase the chances of approval send all materials to the processing Institution. The underwriting and risk evaluation team will check the merchants profile. These teams check the possibility of approval based on many factors. These factors include Reputation risk, Credit risk, Industry Regulation and payment scheme regulations.
Website Compliance For Online Peptide Merchants
- Professional website will have better chances of approval than an awkward looking site. Your website is a mirror image of the professional integrity. You must follow a couple of website compliance recommendations. These will help you to improve the chances of getting a merchant account for your business.
- At the time of application make sure your website is up and running. Do not apply if your site is still under construction. It’s better to be late than never. The first thing that the processing company will look at is the website. If it’s us not ready, then there is no possibility of approval.
- Make sure all the products and services that you sell are visible on your website. Your site should display your business model. We always recommend merchants to show what you sell and sell what you show. You should also use the categories correctly on your ecommerce website. People find it easy to navigate and purchase on shopping sites that are properly structured. When underwriters evaluate the front-end of the website they also try to analyse what experience consumers will get from the site.
- Sites selling peptides and research chemicals must have a clear shipping policy. This shipping policy should define the number of days that will take to ship the product. The shipping policy should be in simple language.
- Every processing Institution requires sellers to have a refund/return policy for customers. For this, your website must have a refund policy page. You can take reference from the refund policies of the top peptide websites on the Internet. You can create your own policy based on the reference from other top sites.
- For the security of transaction information, your website must have an SSL certificate. No matter if you’re using a Credit Card, Echeck or ACH the processing company will ask for an SSL certificate. This certificate encrypt the transaction information. It reduces the possibility of data loss in the process. SSL helps to Secure Payment Gateway transactions and this is why PSPs will always ask for this.
- Based on your industry you may have to put a disclaimer on your website. To identify the correct disclaimer follow the top related sites in the industry. This will help you to create a relevant disclaimer. This disclaimer should be on the homepage.
- If you are PCI compliant then share the copy of the certificate on your website. Make sure it is easy for the acquiring bank to verify the status of the certification. PCI compliance can create a great impact in the minds of the underwriters.
Recommended Shopping Carts For Peptide Merchants.
Many eCommerce websites sell peptides and research chemicals. These sites use shopping carts to provide an excellent customer experience. It also helps in making payments for peptides online and helps grow the e-commerce business. You can use any well-known content management system. Processing companies prefer to work with businesses that use shopping carts. It helps in integration as well. Many card and ACH processing company offer plugins for popular content management systems. With these plugins merchants can create a button widget on the site. Customers can click on this widget button to pay for peptides. Some of the top platforms that we recommend to our merchants are these.
You will see an increase in the number of sales if you use a shopping cart. With shopping carts on peptide websites customers can buy more than one product at a time. It also helps you to improve the average dollar value for each sale. The shopping cart gives a total amount on payment page the customer will have to pay. Customers can easily checkout by making the payment online or may continue shopping and add more products.
The integration of the merchant account on CMS sites is simple. Most of the times all you have to do is upload the plugin on the content management system. This can be done by using FTP or control panel access. The files once uploaded will have to be activated. After activating the plugin and you will have to key in the credentials. Most of the times these credentials will include MID, Secret key and Username.
Quadrapay Advantage For Peptide and Research Chemical Merchants.
Quadrapay assists merchants from various high risk industries. We help in in finding reliable payment processing options. We will be happy to work with you to help you in getting a merchant account solution for your high risk business. We work with domestic and offshore banking partners to help merchants like you. There are tons of websites on the internet selling peptides and research chemicals. Many of these websites also use credit card payment solutions. Mostly these sites use offshore merchant accounts to accept card payments. Reputation of these brands also plays a critical role in getting approved. Its time for you to grab better payment processing opportunities. All the check processing companies we work with follow strict security standards that helps merchants in reducing the possibility of any data breaches. If you want Quadrapay to be your merchant service consultant then send us an email on [email protected] We will try our best by using the large acquiring network of our processing partners.