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Looking for payment processor for nootropics

Discussion in 'Business & Tax Advice' started by throwaway1234, Nov 30, 2015.

  1. throwaway1234

    throwaway1234 Newbie

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    I'm looking for a creditcard payment processor for unscheduled substances, specifically nootropics (smart drugs).
    We're staying away from recreational drugs, so I expect a low chargeback rate, similar to regular webshops. Nevertheless, most processors shy away from any kind of unscheduled substances.

    Payment processors in China would have the problem of the customers' banks rejecting the payments or calling for verification, so I think I'd be looking for something PCI-compliant in the US. Alternatively an offshore processor that is known to be reliable and that doesn't get flagged by banks.

    General advice and offers are welcome.
     
  2. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Good luck finding such, it get's almost impossible otherwise you will face fees as high as 18% to 30% this is illegal stuff it may still be worth it. Anyway entering into such is ling churn and burn the business will live in aprox 1 - 3 months get shut down and banned by VISA and then you have start over again.
     
  3. throwaway1234

    throwaway1234 Newbie

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    It's not illegal though, we're not selling any scheduled substances, only unscheduled stuff.
     
  4. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    still not allowed in most EU countries otherwise you would not have problems to get a merchant account in the EU ;)
     
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  5. Nigg Chen

    Nigg Chen Newbie

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    HI there,i'm Nigg, we are an offshore payment service provider i can help
     
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  6. jsmith2

    jsmith2 Newbie

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    Have you been denied by any payment processors so far? As others have said it might be tricky, but there's many sites selling piracetam and the like running through mainstream processors like Authorize. Maybe see how they're getting away with it.
     
  7. dietsbest

    dietsbest Registered Member

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    do check out megatransfers...
     
  8. AdGod

    AdGod Newbie

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    Are you looking to run this as a rebill? Or straight sale?
     
  9. Shail

    Shail Newbie

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    Hi,


    I suggest you to contact Edward Wilson from Vspay Global. he can help you with availing a solution as per your requirements.


    Skype id - sales-vspay.
     
  10. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Aren't they considered supplements not drugs, so wouldn't any payment processor that handles supplements be good to use for it?
     
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  11. EarthIsYours

    EarthIsYours Newbie

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    Start off with finding a jurisdiction where nootropics are legal to sell. Best bet would be Asia or south america. Possibly eastern europe. Might even find one in Africa. Once found, you will have to, in person, schedule meetings about setting up this merchant account. Many will turn you down but eventually you will be accepted.
    It's not easy work, so most people give up on this.
     
  12. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    They are legal in the USA, and you can use a payment processor such as Braintree
     
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  13. throwaway1234

    throwaway1234 Newbie

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    Sorry for the lack of response, it seems I didn't get any email notifications.

    In the meantime we've decided to incorporate overseas, which doesn't seem to help with acquiring a payment processor.

    Thanks, my partner added you on Skype.

    We've been denied by a few, and have sent inquiries to a lot more. Rejections range from "we don't do that sort of thing" to "a US presence is required" to "you have no processing history".
    As for how others are getting away with it: Some aren't really, and seem to be switching every few months. Some are, but it's unclear how they're managing. There's a big one that uses braintree; the current assumption is that they're grandfathered in, and are currently too profitable for braintree to reject.

    Thanks, will check them out.

    Straight sale for now. We might consider rebill in the future, but not in the short term.

    Looks like we're already in contact with him. Thanks for the suggestion though! :)

    You'd think so, but it is a little vague, depends on which country you ask, and also which product you're talking about. L-theanine is considered a nootropic, but that's just a green tea extract. Modafinil is also considered a nootropic, but that's Schedule IV in the US. (We don't sell modafinil though)
    And then again, if you try to import L-Theanine to Germany, it gets blocked because of their medicine act. But you can still buy it on amazon.de.

    Despite some sites actually using Braintree, it doesn't seem to be allowed by their terms of service. In any case, we're incorporated overseas, which Braintree doesn't like.
     
    Last edited: Mar 18, 2016
  14. DPSP

    DPSP Newbie

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    Does Provogil run into any issues oversees?
     
  15. cynic

    cynic Regular Member

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    It won't come cheap ...your best bet is the Caribbean... I know one guy who was running
    some of those negative billing offers and started another company selling vapors

    It's not the same I know but ... the company didn't give one single f*ck

    So you either do your own research or find someone who knows which merchants accept
    nootropic sellers ...

    Or test the waters with sub 20% fees