The adult entertainment industry has always flourished despite the societal stigmas attached to it. It is a lucrative business avenue for merchants looking for an opportunity. However, the industry also faces its share of challenges especially in terms of finding good payment solutions to offer its consumers.
It is no secret that the adult entertainment industry is a point of contention when dealing with banks and financial institutions. Established businesses as well as new merchants find it difficult to Obtain Quality Merchant Account solutions with affordable rates.
If you are a merchant approaching a bank or a merchant account provider, do not be surprised if they shoo you away once you are done explaining what your business deals with.
Opening an adult merchant account for credit card processing is difficult for merchants simply because the industry is tagged under High Risk.
How to obtain Adult Merchant Account Solutions?
Inspite of being a legal business, merchants will have trouble when dealing with majority of the processors.
Risky business nature, High chargebacks, Controversial business, Uncertain policies, Age restrictions, Subscription-based services, Frauds, etc are some of the reasons why a business may find it nearly impossible to get regular adult merchant account solutions.
But don’t lose hope! As much as it is difficult, obtaining Adult Merchant Account services is absolute possible for new as well as established merchants alike.
All a business needs to do it approach a High Risk Merchant Account provider like International Bank Services ( IBS ) who are willing and offer quality adult merchant account solutions with fair processing rates.
In order to ensure that your adult business gets approved quickly and easily, here are some of the key points that merchants need to take into consideration;
- A long and clean positive credit history is always a plus for merchants. Bad credit will reflect poorly on your application.
- Be honest. Do not give false information or hide details about your business. Always be transparent about your business services and products. If your merchant account provider uncovers the details later, your account is at a major risk of getting frozen or shut down.
- Make sure your business is in compliance to the rules and regulations of the industry.
- A provider may set up a reserve account on your behalf so be prepared for that.
No matter the type or size of adult business, there are plenty of top-rated adult merchant account providers that offer quality Adult Merchant Account Services to help grow your business.