Quick Answer: Visa pharmacy certification is mandatory for UK card-not-present pharmacies using merchant category code 5912 since January 2017. Visa pharmacy certification requires third-party verification from LegitScript or approved organizations confirming GPhC registration, MHRA compliance and adherence to distance selling regulations. Annual Visa pharmacy certification costs approximately £500 and must be renewed yearly to maintain […]
Quick Answer: Stripe, PayPal and Square decline online pharmacies because their restricted business policies prohibit pharmaceutical sales, particularly prescription medications and healthcare products requiring regulatory compliance. These aggregator payment platforms classify pharmacies as prohibited or restricted businesses due to regulatory complexity, chargeback risk and reputational concerns. GPhC-registered UK pharmacies require specialist high-risk merchant accounts from […]
Quick Answer: Pharmaceutical company merchant accounts are specialist payment processing solutions for UK businesses operating across the pharmaceutical supply chain — including manufacturers, wholesale distributors, compounding pharmacies, medical device companies and pharmaceutical retailers. The entire pharmaceutical sector is classified as high-risk by mainstream payment processors due to regulatory complexity, controlled substance handling, MHRA oversight and […]
Quick Answer: Payment gateways for online pharmacies in the UK must support GPhC-compliant prescription verification, age-restricted medicine controls, recurring billing for repeat prescriptions and 3D Secure authentication. Standard e-commerce payment gateways (Stripe, PayPal, Square) routinely terminate online pharmacy accounts because the sector is classified as high-risk. We Tranxact Ltd is a Birmingham-based independent payment consultant […]
Quick Answer: Opening a pharmacy business bank account in the UK is more complex than standard retail banking because banks classify pharmacies as higher-risk businesses due to prescription drug sales, MHRA and GPhC regulatory requirements, and controlled substance handling. Many high-street banks decline pharmacy banking applications or impose additional conditions. We Tranxact Ltd is a […]