The nutraceuticals market has seen a huge surge in popularity with global consumers seeking preventative measures and alternatives to improving health and well-being. More and more customers turn to nutraceuticals to help treat a range of conditions.
Nutraceuticals describe any product manufactured from a natural or synthetic food source that could possibly deliver extra health benefits, in addition to the basic nutritional value found in foods. It also covers vitamins and minerals, and dietary products and programs. Since this market is unregulated in the US and attracts a high level of chargebacks, we know that many financial service providers won’t work with you, and finding a nutraceutical merchant account provider willing to accept credit cards for your online business is likely to be a challenge.
T1 Payments is a leading specialist in processing payments for high-risk and hard-to-place online merchants across a wide range of industries. We pride ourselves on delivering a solution that will help you quickly set up your online store, seamlessly provide nutraceutical credit card processing globally for your products, and navigate the minefield of issues a legitimate, but unregulated business can bring.
Since the US does not have stringent government regulations governing nutraceuticals like many other countries, this leads to issues when selling to customers in countries that do have strict health regulations in place.
As a result, it places businesses selling these items in the high-risk category, and many processors in the US will refuse to offer nutraceutical credit card processing for four reasons, which result in increased chargebacks:
T1 Payments can provide seamless nutraceutical credit card processing for your business because we know how to address these issues associated with an unregulated industry. We do not see a lack of regulation as an obstacle to your trajectory of growth.
*except in regions/countries where shipments of unregulated nutraceutical products are not accepted.
The US nutraceutical market is estimated to reach 133.4 billion dollars by 2025, according to Statista research.
T1 Payments is here to help you make the most of this global trend and ongoing demand for nutraceutical products. Below is our quick guide for the type of products and nutraceutical merchant accounts we process.
Encapsulation was originally an industry term used to describe the way nutritional supplement products were produced in capsules or tablets. Manufacturers have now developed a whole new range of delivery methods including caplets, soft gels, and gel caps, time-released capsules, powders, liquids, sublingual applications, and chewable tablets.
In the US, botanical products are one of the most popular and rapidly growing of all complementary therapies. Although botanical products are classified as dietary supplements, not drugs, it is common knowledge that many Americans use them to treat diseases and disease symptoms.
The ingredients of herbal products are derived from plants and are used as supplements to improve health and well-being. They are often produced as tablets, capsules, powders, extracts, and teas.
Vitamins and minerals are two of the main nutrient types the human body requires to survive and stay healthy. There are 13 vitamins and many people choose to take them as pills, capsules, tablets, or liquids.
Dietary supplements are made from nutrients extracted from food sources (or synthetics) to increase the quantity of their consumption. They are taken by mouth as a pill, capsule, tablet, or liquid.
Weight loss supplements include pills, capsules, tablets, liquids, and other natural options, and usually either aim to reduce appetite, absorb fat, or increase fat burning.
Diet plan programs can be a tough vertical to get into, but the good news is the diet industry is huge and there is a constant supply of diet and exercise plans coming to market to help lose weight and tackle obesity.
Herbal remedies, such as Pine Pollen and Ginseng, are used as a natural option for men who wish to boost their sexual function and libido.
Get in touch with T1 Payments today for a quick assessment of your business. We can help you plan the next stage of growth and start nutraceutical credit card processing without unnecessary complications or paperwork.