Contract Research Payments
Contract research organizations (CROs) provide many companies with vital information based on their requirements. In addition to research, CROs plan, coordinate, execute and supervise processes for industries like pharmaceuticals, biotechnology, medical device companies, and agricultural and petrochemical companies.
Contract research organizations are a crucial part of the advancement of technology. These companies provide clinical trial research and are the administrative bedrock of many life-saving and life improving technologies we have; and are developing today. The field of CROs play a significant role in improving our lives every day. Therapies like vaccines, heart monitoring and support devices and skin therapies as well as products like greener fuels and sustainable food sources are all areas where CROs devote their work. These organizations exceed several thousand in number and cover the world with their supportive research. According to some sources, there are 1,100 notable CRO companies providing their services, Some of the largest and most notable CROs include IQVIA, Parexel, Covance, PPD, Syneos, Charles River, ICON, PRA, LabCorp, and Wuxi AppTec.
Fees charged by Contract Research Organizations vary from enterprise scale to small scale. Some clinical trial costs can exceed $20,000 per week while an average cost for participation ranges between $2,000 and $8,000 per week. These fees can be paid on invoice terms or due on receipt. Often times these companies are paid with check or ACH but recently credit card and debit card transactions have become a prevalent method of payment acceptance.
Payment Integrator integrates payments for Contract Research Organizations who accept ACH e-check, credit card and debit card transactions. Payment presentment can be setup in a variety of ways from imbedding an iFrame on a page, offering a hosted payment page to accompany a payment invoice or entering in a transaction on our virtual terminal. In rare cases contract research companies will accept payments in person and we have a variety of payment acceptance devices to choose from with swipe, dip and tap to pay capabilities. E-wallet options like Apple Pay and Google Pay are also available.
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