Accepting existing & startup merchants
Domestic & international credit card solutions
Check processing, ACH & direct debit
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The demand for pharmaceutical merchant accounts is higher than ever. Purchasing pharmaceutical products online has grown exponentially into a billion dollar business worldwide. Many consumers are opting to forego major pharmaceutical chains in favor of less-expensive online pharmacies from which to purchase their subscriptions.
The pharmaceutical industry — online, POS or mail order/telephone order — is considered high risk by acquiring banks. Instabill has several high risk solutions that enable pharmaceutical merchants to begin processing transactions and stay processing.
What you need to obtain pharmaceutical merchant accounts
Because online, POS and MOTO pharmacies are considered high risk industries, our acquiring banking partners are thorough in vetting prospective pharmacy merchants and require several KYC documents.
- 3-6 months of payment processing history
- 3-6 months of business banking statements with company name prominently listed, including record of refunds, chargebacks and total sales
- Valid owner(s) identification
- Business bank letter or voided check
- Documents of incorporation
Instabill offers POS and MOTO solutions for pharmacies
Though Instabill works primarily with e-commerce and MOTO businesses, we are partnered with several reputable point-of-sale vendors that can provide the latest EMV credit card chip-enabled devices.
When inquiring about pharmaceutical merchant accounts, a virtual terminal solution should be in the conversation too. Virtual terminals enable pharmacy merchants to process credit card transactions via the telephone and mail. Virtual terminals also serve as a viable backup solution for when POS machines are offline.
Let’s have a conversation
Pharmaceutical merchant accounts are among the highest of the high risk industries for which we process transactions and, at times, not easily attainable. With a short conversation, however, Instabill merchant account experts can gauge your business and figure the best credit card processing solutions for your business. By completing our quick form, our merchant account representatives will contact you directly to discuss your needs.