Credit and Debit Card Processing is Crucial for Pharmacies
Pharmacies often operate in retail environments and typically serve patients from all backgrounds and cultures, making them surprisingly complicated cases from a payment processing perspective. Pharmacists need to consider methods for accepting all kinds of payments, including debit, credit, checks, cash, prepaid cards, and ACH transfers. They can also benefit from providing multiple payment channels, including in-person transactions as well as billing by mail, telephone, and internet. Most merchant account providers can supply all of these services to pharmacists, but not all of them will do so within every pharmacist’s budget.
To help you find a provider that fits your business as well as your budget, we’ve put together the following list of the best merchant accounts for pharmacies. The companies on this list offer virtual terminals, online billing, point-of-sale systems, and other useful tools for operating your drug store. They are also known to provide low-commitment contracts with transparent pricing and quality customer service. To find the right provider for your retail pharmacy, be sure to research each processor’s products and features and compare pricing and terms.
Top Picks for Merchant Services for Pharmacies
Host Merchant Services is a Newark, Delaware-based merchant account provider that is well-suited for pharmacies of all sizes and specialties. The company’s products and services include point-of-sale solutions, online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, gift and loyalty programs, and merchant cash advance. Host Merchant Services specializes in e-commerce businesses and provides a free website and email address to interested merchants. Host is a good fit for pharmacies that would like to affordably accept online and in-person payments.
Host Merchant Services has received only positive feedback on public forums, with most reviewers singling out the company’s customer service for praise. Host offers interchange-plus pricing with no early termination fees to all of its merchants, meaning that users will enjoy the most transparent pricing model and can cancel service without penalty. The Better Business Bureau gives Host an “A+” rating, and CPO also gives the company an “A+.”
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving standard to high-risk business types. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. These features allow low to high-volume pharmacies to accurately track their extensive inventory of prescription drugs and keep accurate records of customer data to quickly facilitate payments. For those reasons, PaymentCloud is a good option for pharmacies.
PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history. The BBB does not maintain a profile for PaymentCloud at this time, but CPO gives the company an “A.”
Located in Chesapeake, Virginia, CDG Commerce is another great option for pharmacies of all sizes. CDG has been privately owned since 1998 and offers a proprietary payment gateway (as well as a discount on Authorize.Net’s payment gateway), a virtual terminal, QuickBooks integration, mobile phone processing, sales reporting, security breach protection, and vulnerability scanning. CDG Commerce is ideal for pharmacies that require a simple, low-cost, fully integrated method for accepting payments online and in person.
CDG Commerce only charges a low, fixed fee per transaction and offers competitive contractual terms, including no annual fees, monthly minimums, or termination fees. CDG also offers next day funding to most business types. CDG has earned an “A+” rating in our review as well as an “A+” rating with the BBB.
Based in Lindon, Utah, National Processing is a merchant account provider e-commerce solutions, and mobile payments for pharmacy merchants. National Processing offers month-to-month contracts with no early termination fees and interchange-plus pricing, all excellent options that offer flexibility, transparency, and cost-effectiveness to any pharmacy. Furthermore, National Processing offers ACH processing to pharmacies so they can easily accommodate their customer’s preferred method of payment.
National Processing has a good track record of customer service, as demonstrated by having fewer than 10 complaints across different consumer review forums. National Processing also has an “A+” rating with the BBB as well as being awarded an “A+” overall from our review of the company.
eMerchantBroker.com is a Los Angeles, California-based company that offers high-risk e-commerce processing solutions including for pharmacies. The company’s products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. eMerchantBroker.com can provide processing for pharmacies working with more high-risk clients.
eMerchantBroker.com offers custom pricing for each merchant and maintains a low complaint rate relative to its size and merchant portfolio. Our review of eMerchantBroker gives the company an “A” rating overall and the BBB assigns the company a rating of “A+”.