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Offshore merchant accounts are essential for businesses that need to accept credit card payments on an i

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

nternational level. Such accounts can be set up with the help of an offshore merchant account provider o

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

Examples of combination products may in

r processor. Offshore merchant account providers charge a fee for their services to facilitate acceptanc

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

e of international credit cards presented by their clients and also verify information provided by custo

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

mers. Fees charged by various providers vary from company to company and also depend on type of services

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

Combination pro

required. Offshore merchant accounts offer several features such as reduced taxation liability, operati

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

on simplicity, general asset protection and other related features.

Offshore merchant account fees and

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

charges usually include discount rate, transaction fee, monthly minimum fees, charge back fees, reserve

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

fees, and even equipment and installation fee in some cases. Discount rate is based on percentage of eac

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

h transaction that is paid to that merchant account provider. Transaction fee is a flat rate that a mer

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

hant account provider charges for each transaction processed. Monthly minimum fees are levied on merchan

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

Following aspects would a

t account if merchants? discount rate and transaction fees are not able to achieve the monthly minimum a

dd to the challenges in developing combination products:

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

mount that was specified on the original merchant application. Reserve fees are charged if merchants? cr

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

edit history is questionable, which is done by setting up a reserve account. This feature protects the m

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

erchant account provider from any possible future losses. Chargeback fees are charged by a merchant acco

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

unt processor to pay for disputed charges where the customer had to be refunded charged amount.

It is a

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

Professional from academic institutions, pharmaceutical industries, health care indust

lways better for merchants to research the market to get good deals for setting up an offshore merchant

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

account that fulfills their specific business requirements. Generally, merchant account providers do not

.

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

hesitate to answer queries put up by business owners, considering financial risks involved. Merchants m

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

Companies that provide selfless information through particip

ay be in a better position if they check out all charges associated with their offshore merchant account

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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