Stripe, Square, and PayPal have long been regarded as the payment service providers for a number of merchants and companies. However, if you are looking for a payment platform for your supplement business, it is best to avoid these platforms. By relying on any of these three, you may actually be putting your company and any funds collected at risk. Why should you avoid Stripe, Square, and PayPal for your supplement business? What are the alternatives to ensure your company has a secure and efficient payment gateway? We’ll discuss more now.  

Why are PayPal, Stripe, and Square Not Reliable For My Company?

PayPal, Stripe, and Square are the top three payment service platforms that many companies use to collect money for products, subscriptions, and more. However, if you are looking to collect payment for your supplement products, it is crucial you avoid these platforms. This is because PayPal, Stripe, and Square do not support the sale of supplements, which means you will not be able to complete transactions and collect funds using these three payment services. This can immediately create problems with potential clients, as well as cost you a lot of money.   

Risks of Using These Platforms 

If you are considering PayPal, Stripe, or Square for transactions involving supplements, you should immediately stop. PayPal and Square both regard supplements as pharmaceuticals. While this couldn’t be further from the truth, using both platforms for supplement sales can lead to having your account immediately shut down or restricted, and putting you in danger of losing any funds that you may have acquired. 

Similarly, Stripe does not support the sale of dietary supplements or medical devices. Attempting to use this payment service can also bring you a load of headaches while you operate your business. 

Stripe, Square, and PayPal refuse to deal with supplement transactions because it would breach the contracts of the payment processors and banks they work with. Because the sale of supplements comes with some legal risks that don’t apply to selling other products, it can often be difficult to find the right payment gateway if all you are familiar with are the ‘normal’ payment service platforms. 

How Can I Get Secure Payment Processes For My Business? 

Supplement companies and other health and wellness businesses are considered high-risk merchants. Because you are not able to complete transactions using what would be the ‘traditional’ payment platforms like PayPal and others, you still have to go about picking a secure and trustworthy payment gateway for your supplement business with a specialized high-risk merchant account. This may seem intimidating, but it can actually be quite easy with the right research. There are companies that are dedicated to providing the support and proper solutions for health and fitness companies that are looking to sell supplements and other similar products. 

These companies should offer solutions such as fraud management, secure credit card processing, and more. Working with a payment processor company that is right for your supplement business can also mean dealing with different fees than those associated with PayPal, Square, and Stripe, which can be even more beneficial for your business. 

Benefits of Going with Relevant Health 

Relevant Health is one dedicated company that has the experience working with high-risk merchants. The CEO of Relevant Health worked as a high-risk merchant himself in the past, so using his experiences and resources, he set out to implement the necessary solutions for supplement and other wellness-related businesses. Some of the benefits that come with working with Relevant Health for your supplement business include: 

• Seamless credit card transactions 
• Chargeback management 
• Risk management to assess capital, earnings, and operations of your business 
• Building a more trustworthy relationship with clients when it comes to the security of their payment details
• No risks of having your merchant account shut down due to the wellness products you are selling 

Do You Need Innovative Solutions For Your Supplement Business? 

If you’ve started your supplement business, then you are determined to bring customers nourishing products that can be preventative as well. Unfortunately, PayPal, Stripe, and Square do not support transactions with supplements. While some merchants try to use these three platforms for their supplement or wellness business, the results can be devastating to a business. 

Instead, focus on a specialized payment processor that is uniquely focused on businesses in your industry. Companies like Relevant Health work with supplement merchants and other similar businesses, offering unmatched solutions to better business operations and allow for smooth and secure payment transactions.