Nutraceutical companies need a payment partner with an in-depth understanding of these challenges and the ability to provide assistance on all fronts.
Palo Alto, CA. (PRWEB) September 17, 2014
IDMPay, the payments division of IdentityMind Global, released ROOT today, a program offering groundbreaking integrated payment and risk management services for e-commerce Nutraceutical merchants. The program provides multiple MIDs both domestically and internationally, offering discriminate pricing based on the risk associated with the business model. The program also includes access to IdentityMind Global’s Anti-Fraud and Risk Management Platform, giving merchants the tight controls to reduce chargebacks from card fraud and friendly fraud, and consulting services to develop customer support strategies that minimize misinterpretation of business models and account management procedures.
“It’s difficult for Online Nutra merchants to find the right payment partners,” said Garrett Gafke, IdentityMind’s President and CEO. “The difficulties surrounding payments in this industry are a combination of poor risk management, a separation between service providers, and merchants’ misunderstanding of business models and bank regulations. Nutraceutical companies need a payment partner with an in-depth understanding of these challenges and the ability to provide assistance on all fronts.”
The ROOT program is available to Nutraceutical companies that meet the following requirements:
- $100,000 total processing volume/month.
- 6 months history of processing.
- Three consecutive months with refund rates under 20%.
- 30% or more of traffic associated with non-recurring transactions where there is explicit cardholder approval.
IDMPay’s ecosystem includes over 40 domestic and international processing banks, and established partnerships to perform expedited underwriting processes for Nutraceutical Companies. Online Nutraceutical merchants that don’t currently qualify for ROOT may still apply, and depending on their situation may receive an exception to qualify for the ROOT preparation program.
ROOT also includes special pricing for anti-fraud, starting with a free basic package, advanced anti-fraud, and separate early chargeback prevention package fueled by IdentityMind anti-fraud technology and third party partners. ROOT also offers “good customer behavior” incentives for merchants able to maintain good records for set periods of time.
ROOT is immediately available for Online Nutraceutical merchants worldwide.