Merchant Accounts for Health and Beauty Products
Businesses that offer and sell health and beauty products are very profitable and offer a wide range of products and services such as cosmetics, fragrances, skin care products, hair care products, wigs, etc. To be a successful business it is important to not only provide several payment options but also convenient methods of payment processing. With the increase of businesses in this industry many customers are now shopping for these products online which is why the need for a merchant account is a priority.
Finding a Merchant Account
Whether you are an online merchant or a retail store it is important to have a merchant account so that your business is able to accept credit cards. This is a bank account where all the credit card funds from a transaction will be received where the bank then ensures the payment is deposited into the account.
Is My Business High Risk?
Businesses can be seen as risky depending on the risk involved such as in online transactions. Businesses that sell and offer health and beauty products are view as medium-risk due to factors such as chargebacks. Chargeback reasons for these businesses could be due improper labelling, not happy with the shade/color, if they have a reaction to the product, etc. Many products sold include shampoo, soaps, cosmetics, and skin products and when purchasing these products there is also a risk involved especially if it is a product a customer never tried or smelled before.
Finding the right Merchant Account
When finding the right merchant account it is important for it to accept card payments such as Visa/MasterCard/Amex/Discover.
The most common credit cards supported by all merchant account providers provide:
- No Volume cap: Locally banks believe that higher volumes are associated with higher chargeback risks but offshore banks don’t have such restrictions with volumes.
- Multi-currency: A successful online merchant must be able to process multi currencies to keep a global clientele.
Our services
We have provided merchant accounts for businesses for years and also have experience with businesses in the health and beauty industry and strive to ensure we make the whole process simple for your business. There are no hidden fees, rates and application fees; and can setup your account in quickly. We partner with several banks to ensure we offer customizable solutions for all your business needs. Just contact our friendly customer support agents and they will find the ideal service provider for you.
