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How to start accepting credit cards in your business is almost a requirement in today's world. The amount of commerc

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

e transactions is increasing each day, year over year, especially in the category of e-commerce, that is, transactions on-l

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

Examples of combination products may in

ne. Customers want the gratification of the instant purchase, or impule buy, and want it paid for right away. Don't take th

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

t away from them. If you accept credit cards, you can have the money in a matter of seconds, and the customer is just await

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

ng their package.

How to start accepting credit cards? It really is a simple process. It depends if you are a corpo

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

Combination pro

ation, or an individual owner. If you are a corporation, you can apply for a merchant account, which is just an account to

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

llow you to accept credit cards. They usually have the best rate that you are charges, typically 2.3%-2.6% per transaction,

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

along with a .15-.25 cents fee per transaction. But, the downside, is they, being the merchant account holders, will have

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

ou sign an agreement for 1, 2, or 3 years, and charge you a monthly fee for their service. If you are doing monthly transac

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

ions of above $1000 and plan on growing, this is the right service for you. You can easily make your money back, and depend

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

ng on the fee percentage, you will start to save money after $700 - $1000.

Another method to accept credit cards, are what

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

Following aspects would a

we call 3rd party vendors. These are companies, which allow anyone to accept credit cards, but charge you, being the busine

dd to the challenges in developing combination products:

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

s, a higher fee. This is because they are the ones with the merchant account. So you may be charged 5.5% from a company, bu

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

they are only being charged 2.5% for their merchant account. So, they make 3% off of each transaction. There are many comp

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

anies out there, but I will give you 2, which are above the rest:

PayPal is one of the largest 3rd party processors on the

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

market. They have over 78 million accounts, and actually account for 25% of eBay's revenue. In other words, they are big. B

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

Professional from academic institutions, pharmaceutical industries, health care indust

t, they are good. Their fee is 1.9%-2.9%, plus a .30 cent per transaction fee. Pretty comparable to merchants, without the

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

onthly costs. I use paypal all the time, whether on ebay transactions, or if I need to email an invoice to someone, PayPal

.

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

overs it all. And it is free to signup for PayPal

There are other companies out there, but this the one I use. I can use p

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

Companies that provide selfless information through particip

ypal to accept credit cards through websites, and through ebay auctions. This is how to start accepting credit cards

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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