Merchant Account for Online Pharmacy
The number of online pharmacies is on a rise and they are incorporating ways to improve payments. Online pharmacy falls under the category of ‘high-risk traders.’ Due to this tag, such industries are often rejected by the processing services of a credit card. This rejection affects the Pharmacy merchant account drastically. However, with the help of eCheck for online pharmacy, this issue can be easily resolved.
ECheck for pharmacy cancels the risk factor associated with an online pharmacy to ensure proper payments. The subscriber will gain the liberty to get a fully-functional merchant account for pharmacy. This pharmacy merchant account will not only ensure an increase in the sales in terms of online pharmaceuticals but also prove to be a major benefactor in terms of ease in making and receiving payments online.
How E Checks Work in the Pharma Realm?
The user needs to subscribe to our services to be able to receive payments in the form of e-checks. Once the subscription is taken care of, the payee can start receiving payments via E Checks. The customer needs to send in the details on mobile phone or via an online payment link that can be generated by the payee. The transaction will be ultimately processed by the Federal Reserve but the fact that the check details are directly sent to the payee saves a ton of time.
The E Checks are not processed in real-time, hence, the payee/merchant may want to hold the shipment until the payment is confirmed. The risk of chargebacks (revoked transactions) is quite low when it comes to the eCheck for online pharmacy. As a matter of fact, it is more complicated to charge back an eCheck transaction than a credit card.
The E check works in a simple way:
- Get the required account details from your customers either over the phone or via an online payment link that can be generated from yourmerchant account for pharmacy.
- Get the data verified through our Live Funds Verification system and let the system instantly give you an overview of inconsistencies with the provided data such as availability of funds, high/moderate/low risk based on past transactions etc.
- Get a print out of the eCheck for pharmacy and submit it to the bank for further processing. You can also send the eCheck via a mobile phone.
- Complete the transaction. And Voila!! You’re done!