One of the most lucrative businesses in the world, the adult entertainment industry has not only witnessed growth but is also constantly flourishing. With internet and the anonymity it offers, many have an easy access to adult websites and also offers a convenient way to pay for services and products using their credit cards. While the world may have come a long way in accepting and lifting the stigmas surrounding adult workers and businesses, the same cannot be said about banks and financial institutions that still deny their services to those associated or working in the adult industry. Traditional banks and institutions have made it impossible for porn sites, adult toy shops, online dating, strip clubs, and other similar businesses to open an adult merchant account to process credit card payments. There have also been instances of porn performers or adult businesses having their accounts frozen or shut down without a forewarning.
The adult entertainment industry is absolutely legal but is still plagued with restrictions and financial discrimination. Porn sites or selling sex toys is not illegal yet many banks treat them that way. So, why adult merchants are denied merchant account solutions? Like a few other businesses that experience hard time obtaining credit card processing services, Adult merchants fall in the similar high risk category.
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Despite the many challenges and denials faced by adult merchants, obtaining adult merchant account is now possible with many established merchant account providers offering their services. Although, one cannot simply approach any provider to ask for credit card processing services, merchants need to look for high risk merchant account providers like International Bank Services (IBS). Approaching a high risk merchant account provider that offers customized services for adult merchants not only ensures high chances of approval but also smooth business operations. While submitting your adult merchant account application, keep these key points in mind:
Chargebacks are a huge obstacle in the adult entertainment industry. Anonymous transactions make it difficult to track and consumers end up disputing charges on their bank statements by claiming it wasn’t them who made the purchase. Merchants can reduce risks with chargeback prevention and mitigation tools available with the merchant account providers. Some steps to prevent chargebacks for your business:
International Bank Services (IBS) is a reliable merchant account provider that specializes in high risk verticals with over 95% approval rate in merchant placements. Our team specializes in offering comprehensive and tailor-made adult merchant account & credit card processing solutions with secure payment gateways that make for a smooth, efficient processing experience. What’s more? You can now set up your adult merchant account at zero costs with International Bank Services (IBS). Most merchant account providers will charge you exorbitant processing or set up fees that you to be aware of. International Bank Services (IBS) believes in providing fair services & rates to every legal business that wants to offer various payment options to its customers. We also have chargeback prevention tools and provide guidance to our merchants on how to avoid the same.