How To Secure A Pharmacy Merchant Account?

According to the IQVIA Institute for Human Data Science report, the global market for pharmaceuticals was valued at $1.2 trillion in 2018. If you want to enter this incredibly lucrative industry by setting up an online pharmacy, however, you will be surprised to know that this industry is categorized as high-risk.

In order to keep your online pharmacy afloat, you need to have the ability to process credit card payments. But because your business is labelled “high-risk”, you may find it hard to convince a traditional merchant account processor to take you on.

So, what are your options?

Enter the high-risk merchant account provider.

High-risk merchant account providers are specialists in high-risk industries and are well equipped to meet the needs of your online pharmaceutical business.

You don’t need to get sucked into the black hole of research to find the perfect high-risk merchant account provider; Liberty Enterprises is all you really need. Liberty Enterprises offers e-commerce solutions for high-risk merchants, including pharmacy merchant accounts.

As a leader in the high-risk industry, Liberty Enterprises does not shy away from helping legitimate businesses that have been previously shunned by traditional merchant account providers.

Getting started on securing your pharmacy merchant account with Liberty Enterprises could not be easier. You simply fill out their online application. Together with the application, you will be required to submit the following information for your underwriters and processors:

• Scanned completed and signed merchant application.
• Passport copies of all owners.
• Company incorporation papers.
• Current utility bill for each owner
• Six month of current credit card processing history.
• 3 months bank statements

Additionally, all prospective merchant account holders must ensure that no drug on their site is categorized as "controlled" under the Controlled Substances Act (CSA).

Liberty Enterprises assures you that the application process will be quick and painless. As soon as processors and underwriters receive all required information, you simply have to wait 3-4 weeks for your high risk merchant account to be approved. Although this is not guaranteed to all merchants, there is a high probability that most will be approved.

Why Should You Create An IBC In Panama?

Have you ever considered keeping your operational costs down with an offshore business model? In that case, the formation of an International Business Corporation (IBC) in Panama may very well be what you need.

Setting up an IBC in Panama is a great option since this small Central American country offers reliable banking solutions and has regulations written into its constitution that supports businesses and their owners. Thanks to its business-friendly framework, Panama has carved out a niche as the premier global financial center.

Still not convinced? Let's take a look at some of the reasons why you should set up an offshore company in Panama.

• It can be set up from anywhere: Many business owners who are considering creating an IBC assume that they will have to pack up and move to the country to establish residency, but there is no requirement for a business owner to live in Panama. What's more, conducting business outside of Panama does not require additional licenses or operational notices.
• The incorporation process is very efficient: It does not really cost much to establish an offshore Panama company and to become an incorporated business. There is also no need to deposit or pay registered capital on a schedule. Compared with other jurisdictions, Panama is competitive in just about every area. What’s more, the entire process is completed quickly, usually within four to five business days.
• Panama values privacy and has mechanisms in place to safeguard: The identities of individuals who set up an IBC in Panama are kept under wraps. Even if an individual does not want their name listed on the incorporation certificates or official contracts, that is fine.
• The funds are always protected: Among the most common reasons for creating an IBC is security. Because these accounts are so well fortified, offshore bank accounts in Panama are a secure place to store money.

Setting up an IBC in Panama is an easy process. Partner with an offshore banking service provider today and enjoy all the perks and privileges the "Crossroads of the World" has to offer.

Can You Spot A Legal Online Pharmacy In A Sea Of Illegal Ones?

Legitimate online pharmacy businesses around the world comply with all the applicable safety and regulatory considerations and put public safety first. At the same time, there are also many fraudulent online pharmacies that are only interested in living off the backs of this multi-billion dollar industry.

Such deceitful online pharmacies sell medications illegally and without any valid prescription. They certainly do not care about their customers, and the medications they sell are always questionable at best; they may be counterfeit, mislabeled, adulterated, or even contaminated. After all, the United States Food and Drug Administration (FDA) does not supervise the manufacturing process of these products, and they are often made from unregulated raw materials in unauthorized laboratories.

Spotting Legal Pharmacy Websites

We understand that it may be quite difficult for an untrained eye to tell the difference between a legitimate and fraudulent online pharmacy business. We can help. At Liberty Enterprises, Inc., we have been providing reliable high-risk merchant accounts to reputable merchants across the world since 2003, and we can help you differentiate between a legal and an illegal online pharmacy.

A legitimate online pharmacy business will always:

• require customers to submit prescriptions from a licensed health care practitioner/provider;
• Make customers submit their full medical history so that it knows what medications are likely to have side effects;
• clearly state its payment, privacy, and shipping policies on the website; and
• use secure and encrypted website connections to conduct online transactions (look for the HTTPS in the URL).

Reliable Pharmacy Merchant Account Services

If you have a licensed online pharmacy business and are searching for payment processing services, we have a secure and affordable pharmacy merchant account solution for you. We specialize in securing offshore merchant accounts that will allow your licensed online pharmacy to accept major credit cards in multiple currencies.