The health industry has plenty of ambitious entrepreneurs. A doctor can launch a virtual healthcare practice. They’ll offer online consultations. A wellness founder can build a supplement brand. Maybe they’ll sell products like magnesium capsules. Or trendy probiotics. Both ideas have exciting business potential.

But launching a health-related business comes with payment processing challenges. Traditional providers view these businesses as high-risk. Telehealth companies face scrutiny because of industry regulations. Supplements have restrictions, too.

Thankfully, specialized providers like Adaptiv Payments offer merchant accounts for businesses in higher-risk industries. In this review, we’ll explore what Adaptiv brings to the table. Here’s how its services could support supplement and telehealth businesses.

What Exactly is Adaptiv Payments?

Adaptiv Payments is a payment processing provider. They specialize in helping high-risk businesses accept electronic payments. The company makes merchant accounts designed for industries that traditional payment providers consider risky. That includes telehealth and supplement businesses. Here’s why they stand out:

• 40+ industries supported: They help telehealth and nutraceutical companies collect e-payments. It also supports online pharmacies and subscriptions.
• Multiple payment solutions: Adaptiv has payment gateways for online transactions. They also use virtual terminals to process payments manually. The company supports ACH payments. E-commerce integrations, too.
• Banking partnerships: The company works with more than 20 banking partners. This gives high-risk businesses more payment options.
• Dedicated support: Clients get a dedicated account manager. Adaptiv also offers 24/7 technical support.

What is a High-Risk Merchant Account?

A high-risk merchant account lets a business accept credit and debit card payments. Payment providers classify certain businesses as high-risk. That’s because they usually face more financial losses. Some industries also face stricter rules. This makes it harder to get approved for a regular account. Adaptiv Payments specializes in helping these businesses. The company connects high-risk merchants with different payment processing solutions.

Imagine you run an online store for peptide bioregulator supplements. Customers place orders using credit cards. But some providers might classify your store as high-risk. Industry rules may subject your products to extra scrutiny. This makes finding a payment processor tricky. Adaptiv Payments can help you apply for a specialized merchant account. Once approved, you can accept card payments easily. No more stress about payment disruptions.

Benefits for Online Businesses

Health-related businesses come with unique payment challenges. Adaptiv offers specialized tools to help merchants manage these risks. Here’s how it keeps transactions smooth.

Chargeback Prevention

Chargebacks happen when customers dispute a payment with their bank. Too many disputes put a merchant account at risk. Adaptiv offers chargeback alerts. These notify businesses when a customer raises an issue. Merchants can then respond. They also have Visa Rapid Dispute Resolution (RDR). This helps resolve eligible disputes before they count toward your chargeback ratio.

Fraud Detection

Online businesses attract fraudulent orders. These transactions lead to lost revenue. They increase payment disputes, too. That can be really stressful. Adaptiv uses 3D Secure. This adds an extra layer of cardholder verification. They also have device fingerprinting. That helps track suspicious activity. Merchants can even set custom fraud rules based on transaction value or location. This makes screening risky payments easier.

Works for Subscription Models

Many telehealth providers use a subscription business model. Patients pay monthly for access to consultations or healthcare services. Adaptiv supports recurring billing. They let businesses collect scheduled payments from subscribers. The company also offers ACH processing for recurring payments. This gives telehealth providers another way to collect payments.

How the Adaptiv Approval Process Works

Getting started with Adaptiv is fairly simple. First, visit its website. Complete the online application. That part usually takes less than five minutes. Easy peasy. Then, you’ll need to provide basic business details. Prepare your government-issued ID. Upload some business documents, too. Adaptiv may also ask for recent bank statements and processing records. You’ll also need to share your website. Maybe some product details as well.

Next, Adaptiv’s underwriting team reviews your application. Most applicants receive an approval decision within 24 to 48 hours. The team will then explain the next steps. Once approved, Adaptiv sets up your merchant account and payment gateway. It can configure your e-commerce integrations from there. The team tests the setup before activation. After that, you’re ready to accept credit and debit card payments.

How Fees Work

High-risk merchant accounts usually have higher fees than traditional accounts. These may include transaction fees. Maybe some monthly account charges. Some providers also charge setup or gateway fees. Adaptiv Payments offers customized pricing for each business. Its team considers your industry. It looks into monthly processing volume, too. Your business’s risk level also plays a role. This means your final rates depend on your specific needs. Contact Adaptiv to discuss available pricing.

Conclusion

Running a telehealth practice or supplement brand takes hard work. You want to help people feel better. All while growing a business you believe in. Finding a payment provider can be a huge challenge. Especially when traditional processors hesitate to work with you. Adaptiv Payments can give you a way out. Get a specialized high-risk merchant account for your health biz today.