Nutraceutical Payment Challenges Solved
Such aggressive consumer disputes and FDA scrutiny make payment processes quite tricky for supplement companies. There are nutraceutical-friendly accounts with chargeback mitigation techniques, such as agreements requiring verified order confirmation calls before fulfilling orders for first-time customers, offered by high-risk experts such as GreenBox and PayKings. These processors accept companies which do have the necessary paperwork and understand the requisites for cGMP compliance. Look for gateways that also accept negative option billing for subscription-based supplements but compliant to FTC regulations; this would mean clear terms and simple cancellation procedure. Compared to credit cards, ACH or eCheck processing will reduce chargeback exposure by around 60%. Some providers that help with automated check verification include NMI.
Chargeback Prevention Strategies
Incorporate a three-step order confirmation process, that is email, post-order calling, and shipping notice with tracking to make the clinical trials and ingredient listing very visible to availing “not as described” disputes. Use behavioral analytics platforms such as Signifyd to screen at-risk orders prior to the order fulfillment process. The satisfaction guarantee should be with easy refund procedures, as self-service refunds will register 80% fewer chargebacks. Renewal reminders will be sent out 7 days before billing with simple cancellation instructions regarding subscriptions. View blockchain-based solutions such as Verif-y that timestamp customer consents to avoid fraudulent disputes.
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