Pharmacy Merchant Accounts

Drug stores and pharmacies have come a long way with all of the major technologies created to handle online payments and secure transactions.  These pharmaceutical merchant account technologies don’t deter customers from visiting the local friendly pharmacy.  Smaller owned pharmacies are still thriving; however, online pharmacies add a great deal of convenience to many consumers by making it easy for customers to manage their medication without even coming by the local drug store.

Consumers are addicted to convenience and if a customer can save time by ordering medication online, they will take advantage of the technical solution available.  Pharmacists are losing a lot of rewards and revenue when they have not implemented a smart pharmaceutical merchant account to support the demands of people that need medication and demand convenience.

Most are familiar with merchant accounts, and almost all computer users that have access to the internet have used a merchant account service when making a purchase.  To the typical user, they are blind to all of the moving parts of a pharmacy merchant account and payment methods.  Consumers only see a set of instructions on how to enter billing, shipping address information and credit card information so they can have the satisfaction and convenience of having product shipped right to their door.  What they don’t realize are the many different systems working together to make the online transaction possible.  Bank account numbers, PII, and encryption algorithms are all blending together to make this achievable.  Compounding Pharmaceutical merchant accounts must be locked down to secure customer and health information. 

It is wise for pharmaceutical companies to implement secure processing systems from reputable merchant companies.  Linkpoint, Authorize.net and other merchant companies can offer secure pharmaceutical merchant account solutions needed to prevent customer information from becoming jeopardized.  Locally owned compounding telephone mail order pharmacies may have their own retail solution in place but can also pose a risk.  When outsourcing merchant services, these risks are minimized and there is more security and checks and balances in place to support the online transaction of pharmaceuticals.

A great example of this moto mail order phone order pharmaceutical business process is a pharmacist that wants to open their own local pharmacy.  This pharmacist may not have the manpower or support to carry out the demands of prescription requests and refills needed.  The pharmacist can actually outsource this business process, and still support their vast clientele with a compounding pharmacy merchant account.  This can be done in a matter of hours if the pharmacist has the right paperwork.  Merchant services require all the normal documentation to identify the individual and the business as well as the pharmacist’s license. 

Pharmacists can tie in their merchant account to a middle-man that can fill the prescriptions and deliver the medications by mail when the orders are complete.  Customers think that the legal licensed pharmacist is handling the refills, but the reality in many instances is that the licensed pharmacist is managing the refills for the customer and looking for possible mistakes.  One of these services that are adopted by pharmacists is refill-rx.  This is a company like express scripts that will help facilitate the prescription refill.  It’s secured with the pharmaceutical merchant account and credentials and licensing of the pharmacist.  The three of these elements cut costs for all parties and still support the needs of the patient. The online pharmacy merchant account provides a secure, convenient transaction for the customer, provides anonymity, and provides online pharmacies with the ability to offer their services to a much larger customer base than with a retail storefront.

 

USA Payment can provide high risk online pharmacy merchant accounts. You can apply now to start the process with us or talk with your merchant account provider for additional details on setting up the right pharmacy merchant account for your business.