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High risk merchant accounts are designed for people engaged in high risk businesses suc

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

h as telemarketing, travel industry, multi level marketing, gaming, adult services, pha

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

rmacies, phone card sales, timeshare rentals, and credit repair and counseling. Many ba

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

nks and merchant account providers (Map?s) do not provide merchant accounts to these hi

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

gh risk merchants, because the risk of credit card fraud increases with the increase in

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

the turn-over of these businesses.

Advantages of high risk merchant accounts include

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

high chargeback threshold, online reporting of transactions, multicurrency credit card

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

processing, real-time capabilities, 24 hr customer support, and acceptance of all major

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

credit cards. High risk merchant accounts provided by offshore providers are also tax

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

free.

The most difficult step in setting up of a high risk merchant account is to get

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

qualified for it. Merchant account providers will evaluate your credit report and previ

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ous merchant accounts you own. The better your credit history, the greater your chance

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

to set up a merchant account.

The fee for setting up and maintaining high risk merchan

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

t accounts can differ considerably according to the provider, risk involved and the typ

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

e of the business. Usually the setup fees for these accounts are quite similar to other

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

merchant accounts, often around $500. Some providers may charge you as much as $7000.

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

The transaction fee (around $0.5), discount rate (around 6.5% to 9%), rolling reserve (

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

10% to 15%), and monthly/weekly settlements are usually higher than those of usual onsh

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ore merchant accounts. Most high risk merchant account providers do not demand any secu

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

rity or guarantee deposits. All high risk merchant accounts are multicurrency accounts.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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