Why are Pharmacy Merchants considered High Risk?

Most merchants who buy and sell medicines online have pharmacies that are based abroad. Credit Card processing providers find it difficult to accept such 'high risk' merchants. Yet, this is one of the most lucrative business services online today. Instabill work with offshore banks that approve and issue pharmacy merchant accounts.

The pharmaceutical trade in the US and UK is expensive and by trading offshore the merchants are able to make more profits. That is why most pharmaceutical online providers are based offshore.

Yet, while profit margins increase for online pharmacies, many banks decline their applications for merchant accounts, deeming their business as too high risk. There is therefore a large demand for pharmacy merchant accounts.

How Does Instabill.com provide Pharmacy Merchant Accounts?

Instabill.com has a secure and solid infrastructure that allows it to take more risks in terms of credit card processing.

Instabill.com scours the globe for merchant banks that will provide merchant accounts for Internet pharmacies.

Instabill.com is capable of providing solutions that are neither too expensive nor complicated. We want you to succeed, for your success is ours.

Pharmacy merchants can now apply for merchant accounts or third party merchant accounts and instantly set up their business to go online.

What are the general Rates Internet Pharmacies pay for their credit card processing accounts?

Internet Pharmacy merchant account rates are assessed on a case by case basis. Internet Pharmacy merchants with high monthly sales turnover in excess of $1 million generally pay between 4-5% for their merchant account, whilst start up Internet pharmacy merchants and, those Internet pharmacy merchants with low monthly sales turnover (less than $50,000 per month) generally receive rate offerings between 6-7%.

What is the usual timeframe from when I submit my merchant account application to actually receiving a merchant account approval?

Instabill generally receives an answer from one of its’ merchant acquiring bank providers within 3 working days. Upon receiving a merchant account approval notice an Instabill Account Manager communicates all the credit card processing terms and conditions of the bank to the merchant. If the merchant accepts the offer, a merchant account contract is emailed to the merchant for them to sign and return the contract back to Instabill. Live processing can usually start 24-48 hours later.

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