Online Pharmacy - Cyprus Corporation set up - now need a merchant

[theplanner]

Hello! Am I ever happy to have stumbled upon this website! I've been doing some of my own searching online and come across many different websites and resources for merchant services, but throught I'd pick some brains on this site.


I browsed a bit through some other threads, but none really addressed my question.


Question is regarding a North American based online pharmacy that has been in business for several years. This is a legitimate and legal pharmacy, run by a licensed Pharmacist. Looking to expand and current merchant provider does not meet new requirements - need offshore account and merchant provider.


Corporation has been established in Cyprus, but have been unable to arrange merchant account as of yet. Looking for some guidance. strong history of merchant services. Looking for provider with services offered in 3-4% range.


Any suggestions/recommendations... please!


Thanks!

 

[JohnLocke]

So you have a processing history available and as well a chargeback ratio below 1% ? Can you tell how much monthly volume your business generate? The products sold, are they controlled or non controlled?

 

[theplanner]

Everything is legal and clean, run by a licensed pharmacist and only non-controlled medications are sold.


Yes, good, clean history. Volumes - over 11000 transactions per year and over $1,000,000 year in dollar revenue.


Thanks!

 

[PainlessProcess]

It is very rare to find rates at 3 to 4 for offshore processing in Cyprus. There are major shifts occurring within international processing and this will not make things any easier. Coincidently, we recently posted about international banks completely shutting down their merchant processing operations and how it appears to have hard repercussions, particularly in the pharma industry. You will probably have a much easier time finding something like this in Caribbean or Panama. It looks as if the recent shifts are driving those looking to process international payments towards bank driven payment systems. You should look into bank driven payment systems as it will open you up to accept a majority of payment types from around the world.

 

[MaverickBC]

It would be hard to find such low rates since your business is considered high risk but since you are licensed, this does make your account easier to get approved. Many banks and processors ONLY deal with licensed online pharmacies.

 

[JohnLocke]

Hello! Am I ever happy to have stumbled upon this website! I've been doing some of my own searching online and come across many different websites and resources for merchant services, but throught I'd pick some brains on this site.
I browsed a bit through some other threads, but none really addressed my question.


Question is regarding a North American based online pharmacy that has been in business for several years. This is a legitimate and legal pharmacy, run by a licensed Pharmacist. Looking to expand and current merchant provider does not meet new requirements - need offshore account and merchant provider.


Corporation has been established in Cyprus, but have been unable to arrange merchant account as of yet. Looking for some guidance. strong history of merchant services. Looking for provider with services offered in 3-4% range.


Any suggestions/recommendations... please!


Thanks!

You may let us know what the outcome was for your business?

 

[CheckTwentyOne]

Check out TheEcheck dot com. They specialize in providing High Risk Merchant Accounts, including online pharmacies. Unbeatable rates as well.