Our Team has 20+ Years of High-Risk Payment Processing Experience
We have the largest network of high risk banks in the industry, and growing! Paydiverse has thoroughly tested numerous processing banks to understand which are the perfect fit for every high-risk merchant account category. We have a diverse array of solutions per business type unlike anyone else in the industry.
- 24-48 Hour Payouts
- Lowest Rates, Multiple Bank Approvals
- Fast Approvals
- 100% Digital Application
Secure Payment Processing
In 3 Simple Steps
Complete our quick and easy online application
Digitally sign applications using your mouse
Securely upload supporting documents
Applications are sent to all banks that have pre-approved you
Banks will review and determine a processing limit
Daily updates sent with additional documents and final approvals
Payment Gateways are activated
Integrate your Payment Gateway with the backend of your site
Start accepting payments from your customers immediately
Nutraceutical Merchant Accounts
Despite the obvious growth and success of high risk nutraceutical merchants in this industry, it is still an industry that struggles to be seen as legitimate by banks and payment processors. Retailers of diet and weight loss supplements (ie. Keto, Garcinia), multi-vitamins, anti-aging products, sports nutrition and more are finding it increasingly difficult to find a reliable payment processor that can offer long-term credit card processing solutions to their needs.
Nutra merchant accounts are considered high-risk merchants according to credit card processors. High risk nutraceutical merchants within this industry may find it difficult to obtain account approvals with many banks and therefore are forced to search for a high-risk credit card processor. PayDiverse has spent a great deal of time and energy researching the best banking and payment processing solutions for nutraceutical merchant accounts, and we are pleased to offer comprehensive and industry-leading high-risk merchant accounts to legitimate businesses retailing a variety of straight sale, trial based or free trial nutraceuticals.
Perfect for straight sale continuity. Historically our chargeback ratio has been very high and finding a payment processor has been difficult. Very pleased with our merchant account so far.
We set up everything for our account in 1 week. Began processing orders immediately. Great rates + customer service
We've had our merchant account for 11 months and have never had a problem. Reliable merchant account for all types of skincare businesses!
What are Nutraceuticals and Why are they considered High-Risk?
Nutraceutical merchants are considered those who retail products which make health claims that may not be backed by the government or medical associations. This includes supplements, creams, diet products and even vitamins. It is also defined as food or part of a food that allegedly provides medicinal or health benefits. PayDiverse can provide high-risk nutraceutical merchant accounts to nutra merchants that offer a variety of products, including:
- Weight loss supplements (ie. Garcinia)
- Diet programs (ie. Keto)
- Sports enhancing supplements
- Botanical, herbal and plant-based health products
- Pain management
- Meal replacement shakes and snacks
- Male enhancement supplements
- “Smart drugs” or cognitive enhancers (also called nootropics)
- Dietary supplements
- Hair treatment & growth products
- Anti-aging treatments
- Detox kits including colon cleanse supplements
Additionally, many nutraceutical merchants use trial based or free trial products to gain customers, and using a free-trial model alone can be cause to consider a merchant high-risk. This is because most often in free trials, the merchant will set up subscription billing or recurring billing automatically to be charged to the customer’s card once the free trial expires. Oftentimes, customers will forget about this automatic billing agreement or forget to cancel before the trial has expired and will initiate a chargeback with their credit card provider. That high risk for chargebacks is the primary reason free-trial offers will deem a merchant high-risk. Many anti-aging skincare beauty products and dietary supplements offer subscription/continuity billing.
Keeping Nutraceutical Merchants in Business
PayDiverse is a nutraceutical payment processor that provides nutra merchants with premium high-risk nutraceutical merchant services, credit card processing & merchant approval. We utilize a variety of processing techniques to ensure that payment processing, fraud prevention and chargeback disputes are all easy processes for our high-risk accounts. Some of the features of our high-risk merchant accounts include:
- Multi-bank processing (including offshore)
- Chargeback alerts
- ACH/Check 21 processing
- Competitive credit card processing rates
PayDiverse works closely alongside nutraceutical merchant accounts to avoid detrimental and unwarranted chargebacks, fraud and account closures. We offer award-winning fraud and chargeback protection and have strong relationships with over 40 banks who work with high-risk merchants both in the United States and offshore.
Nutra merchants offering trial based or free trial business models also leave themselves at a higher risk for chargebacks – even more so than straight sale nutra merchants. In this instance, customers will often sign up for a free trial of a product, agreeing to have their credit card charged at a later date once their trial expires. Once the free trial lapses, many times customers will forget to cancel prior to the charge date and try to avoid payment by initiating a chargeback with their credit card issuer.
With PayDiverse’s chargeback protection, nutraceutical merchant accounts will receive real-time chargeback alerts. This allows merchants to deal with the chargeback as soon as it is requested. When chargebacks appear fraudulent or unwarranted, merchants can instantly file a dispute. We provide support during the dispute process and provide all the necessary tools for our merchants to reclaim the money that is rightfully theirs.
Award-Winning Fraud Prevention
The Importance of Keeping High-Risk Merchant Accounts in Good Standing
- Maintain a good history with credit card processors
- Consistently perform a high sales volume
- Keep a high balance in business accounts
- Dispute chargebacks whenever possible and back up disputes with strong evidence
- Remain transparent in all communications with your banks and payment processor
Adhering to these standards is something any business should strive for, however, in a high-risk industry, it is more important than ever. The nutraceutical industry is experiencing more growth than ever before, which means that today’s nutra merchants are helping to form the opinion banks and other financial services have of their industry. Maintaining accounts in good standing will increase the chances that more banks and payment processors gain a more positive outlook of approving and working with nutraceutical merchants in the future.
In addition to creating a better name for the industry, merchants who keep their accounts in good standing increases the chances of raising their sales potential and processing limits. Read our Merchant Account Best Practices Guide here.
How to Apply for a High-Risk Nutraceutical Merchant Account
If you’d like to apply for a high-risk nutraceutical merchant account, you can easily apply online with our secure form. Once you’ve completed the form, you can digitally sign your applications and submit your supporting documents. We’ll have an answer for you within 24 hours.
Upon approval, PayDiverse will have you set up with your new secure payment gateway and fraud prevention tools in 48 hours or less. You’ll have full access to our merchant portal, chargeback alerts and all other features offered to our high-risk merchants.
To expedite and improve your chances of approval, make sure all questions on the application form are completed accurately. Our underwriters take time to verify all information you submit. Additionally, it will help your chances if you adhere to the following:
- Keep your account balances high, negative balances will impact your chances of approval.
- Ensure you have a well-constructed business plan and can prove your competency as a business owner.
- If you have prior processing history, it will help if your accounts were kept in good standing.
- Ensure all accounts are up to date and have been paid on time.
Following these guidelines, along with maintaining transparency during the application process, will highly increase the likelihood that your high-risk merchant account is instantly approved.
Diverse Payment Processing is Smart Processing
Fill out our free and quick merchant account application and let us match you with many banks that want your business.