The peptides industry is growing bigger and bigger all the time, with very impressive projections for the years ahead, and it’s clear to see why so many entrepreneurs want to get in on the ground floor and start their own peptide businesses. If you’re eager to do the same, you’ll need your own peptides merchant account. This guide will look at the ins and outs of peptides merchant accounts and how to get them.
However, before we look at what a peptides merchant account actually is and how it works, let’s first focus on what peptides are and why they’re becoming so popular and widely talked about at this moment in time.
In simple terms, a peptide is a short chain of amino acids. There are many different types of peptides, and they’re the building blocks of different proteins, with a myriad of potential uses. Peptides can be used in cosmetic products for example, as well as in supplements for health, weight loss, anti-aging, and anti-inflammatory.
We see and use peptides all the time in many different products, from skin creams to protein shakes, and there’s a lot of potentials for the peptide industry to grow and grow in the years to come. But, as stated above, if you want to run a peptide business, you need to have your own peptides merchant account, and that can be quite a challenge.
The main issue that many people have with getting a peptides merchant account is the fact that the peptides industry is classed as a “high risk” industry. Why is this? Well, at first glance, it can be quite hard to understand. After all, sales of peptides are projected to reach close to $50 million by 2025.
There’s a ton of demand for peptides among the general public, and there are many potential uses for peptides too, especially in the world of supplement pills and powders. However, peptides remain strictly controlled in terms of how they can be used, and even though you can own and use peptides in certain ways in the United States, they’re not officially approved for human consumption.
This is a major stumbling block for the industry as a whole, and it can make it very hard for someone to set up their own peptides business and start making sales because a lot of the banks and financial institutions out there will simply refuse to work with you and will not be willing to provide you with the peptides merchant account you need.
So what exactly is a peptides merchant account? Well, in order to understand that, it’s important to first have a basic understanding of merchant accounts in general. These accounts are used by all sorts of businesses, from online clothing stores to gaming sites, and they’re an essential piece of the puzzle for any company that offers goods or services for sale online.
In simple terms, a merchant account makes it possible for the holder to receive electronic card payments. For example, if you have a peptides merchant account, you’ll be able to get paid by your customers online. If you don’t have a peptides merchant account, you won’t be able to receive online payments and you’d need to physically meet every customer in order to allow them to pay you.
Given that most sales in the supplement industry are happening online nowadays, it’s clear to see that if you want to set up a successful peptides business, you have to have a peptides merchant account in place. Otherwise, when people look for peptides online and see that your site doesn’t accept electronic card payments, they’ll be likely to move on and shop elsewhere.
Now that you’ve seen what a peptides merchant account is and how these accounts work, it should be easy to see that you need one of these accounts if you want to run a peptides business. Unfortunately, obtaining peptides merchant accounts is quite difficult. In fact, most banks refuse to offer merchant services and accounts to businesses involved in the peptides industry.
Why? Well, the main reason is that the peptides industry is classed as a “high risk” industry. There are a lot of high-risk industries out there, from the likes of the firearms and cigarette industries to others in different sectors, such as SEO businesses, marketing businesses, debt collection, and supplements, such as peptides, too.
And what is it that makes the world of peptides so risky? Well, the main issue is the aforementioned lack of regulation. Since peptides are not approved for human consumption at the moment and research is still ongoing to find out more about how they work and what advantages or risks they may or may not have, the industry is constantly subject to changes in rules and regulations.
This situation makes banks very wary, as they prefer to work with businesses in industries that are already established and adequately regulated. Perhaps in the future, when more is known about peptides, the industry will be seen as less risky. But for now, it’s in the high-risk payment processing category, which can make it very hard for you to get the peptides merchant account you need.
So, you need to have a peptides merchant account in order to operate in the lucrative peptides industry, but getting one of those accounts is really difficult? So what are you supposed to do if you’re setting up a peptides business and need to open your merchant account? Well, that’s where Shark Processing comes into play.
As experts in high-risk businesses and high-risk credit card processing, Shark Processing is an industry leader when it comes to matching high-risk businesses with the merchant accounts and services they require. So, even if your usual bank refuses to work with you, we’ll help you find another reputable bank or payment processor that will be happy to provide the account you need.
We’ll help you get the best peptides merchant account with the right rates and terms to match your business needs, helping you to break into the peptides industry with ease and convenience. Ready to get started or want to learn more? Simply get in touch with the Shark Processing team today and see how we can help you with all your peptides merchant account needs.