Operating an online or physical pharmacy comes with unique challenges, particularly when it comes to payment processing.
Traditional banks and payment providers often classify pharmacies as high risk due to regulatory complexities, prescription drugs, and elevated fraud risks. At We Tranxact, we specialise in brokering pharmacy merchant accounts and payment gateways, ensuring your business has access to secure, compliant, and reliable payment solutions.
Complete our inquiry form below to find out how We Tranxact can help your pharmacy thrive with tailored payment processing services
Pharmacies face specific challenges that lead traditional payment providers to classify them as high risk:
Strict Regulations: Pharmacies must adhere to stringent healthcare regulations that vary by country, making compliance a significant challenge for payment processors.
Prescription Drug Sales: Selling regulated and prescription drugs increases the perceived risk due to the need for accurate verification and compliance with legal frameworks.
Fraud and Chargebacks: Pharmacies are susceptible to fraudulent transactions and chargebacks, particularly for online sales.
Reputational Concerns: Some merchant service providers are hesitant to support businesses dealing with prescription drugs, fearing reputational risks.
These factors make securing a pharmacy merchant account essential for your business. We Tranxact connects you with trusted high risk payment providers who specialise in pharmacy payment solutions.
Pharmacies require a high risk merchant account to ensure stable, secure, and compliant payment processing. Without one, pharmacies may face the issues below. Pharmacy merchant accounts ensures you can process payments securely and grow your business confidently. Fill out our inquiry form today to find out how We Tranxact can help.
Account Closures: Using providers unfamiliar with pharmacy regulations can result in sudden account closures or frozen funds.
Limited Payment Options: Many traditional payment processors avoid pharmacies, leaving businesses with fewer options for transactions.
Compliance Challenges: Pharmacies must meet strict legal requirements, and not all payment gateways are equipped to support these needs.
A high risk merchant account brokered by We Tranxact provides tailored features designed to meet the needs of your pharmacy business. Complete our inquiry form to connect with high risk payment providers offering these essential features
The processing terms and fees are probably the best in the industry for new and existing setups.
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