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Adult Merchant Account Solutions For Gentlemen’s Club or Strip Club Businesses

Controversial yet highly-profitable, that’s how you describe the adult entertainment industry; an industry that is currently worth a $100 billion.

Discretion and convenience while paying for services have been a long-standing demand for customers of the adult entertainment market. However, many merchants have trouble obtaining secure merchant account services to accept credit cards. It is nearly impossible for an adult business to approach a traditional merchant bank or payment processor since these types of businesses are largely on the restricted or prohibited merchant list.

Why are you denied an adult merchant account for your strip club or gentlemen’s club business?

Simply the nature of your business is enough for banks and processors to quickly turn you down. Gentlemen’s clubs, strip clubs, adult entertainment clubs, exotic dance clubs, legal brothels, etc – if you are operating one of the businesses mentioned then you automatically classify as a ‘high-risk merchant’.

Frauds, scams and identity theft are common in this industry. Fraudulent users, Recurring subscriptions, fronting illegal activities, CNP transactions, etc make adult businesses a hotbed of fraud.

Higher than average chargebacks from customers also make this business risky for banks. Also, banks consider being associated with adult entertainment businesses as a reputational risk or damage to their brand.

Processors like Stripe, Paypal, Square also avoid such businesses for the same reasons.

At times, merchants end up paying high application fees only to be rejected. The constant rejection sometimes forces businesses to accept processors that charge higher fees and rates, often settling with poor services as well.

How to improve your chances of getting approved for an Adult Merchant Account?

Make sure you take care of any outstanding credits and pay off your debts. A positive credit history increases your chances considerably.

Save up! Your merchant account provider may open a reserve account on your behalf for security reasons in case of any future financial emergency. This is for your security.

Remember you are operating a risky business so don’t be surprised if you find yourself paying higher than average processing fees. But also be careful and ensure that there no hidden costs and you are not being duped with extravagant charges.

Do not try and pass off your business as something else other than what it is. Be completely honest about the services offered or products sold. Mention if your previous merchant account had been shut down or if you had gone bankrupt. Honesty ensures a long and positive relationship with the provider.

Be ready with legal and valid documents that give proof of your legitimacy at running an adult business. If you are in compliance with laws and regulations, there should be no reason to stop you from obtaining an adult merchant account.

Find reliable Adult Merchant Account solutions for Gentlemen’s Club/Strip Club businesses

With many of gentlemen’s clubs, strip clubs, exotic dance clubs and other such adjacent adult entertainment businesses running online, customers need a secure and easier way to make online payments for reservations and bookings.

Has your merchant account been shut down or been looking for merchant account solutions for your adult business? There are plenty of reliable and secure adult merchant account providers that understand the complexity of this industry and offer fair prices and tools to leverage your business.

As a high-risk merchant, you need to do pay due diligence and consider not only an adult merchant solution that provides the best rates or offers but the one that is the most dependable in the long run. After all, you do not want your credit card processing services to stop abruptly and your accounts to be frozen shut.

Do your homework, look at options and find an experienced Adult Merchant Account solution with top features, good quality services, and affordable rates.

Why do you require Secure Payment Gateway solutions for your Forex business?

The foreign exchange market or Forex, in short, has to be one of the most exciting and fast-paced industries today. Transacting in the forex market and making money through moving currency rates and values is growing in popularity and will continue to do so. With the number of traders increasing every year, not only is the market expanding but it is also becoming competitive. It is also indicative of the increase in the number of forex brokers entering the profitable industry to take advantage of the growth.

To one-up each other and stay ahead in the game, forex brokers need to offer convenience and better service to traders. A forex merchant account has become a necessity for brokers in order to provide safe & efficient payment processing services to its clients.

Online payments have become critical for the long term success of any business. And to receive online payments via credit/debit cards for their forex platform, online brokers require a secure payment gateway. By integrating a payment gateway compatible with your forex trading platform, it will ensure fast, reliable and convenient trading for clients.

An ideal secure payment gateway will give you and your traders a number of options and benefits, especially if you service to customers on a global level:

Uninterrupted payment processing with no delay in transactions
Multiple payment processing methods like e-wallets, e-check, vouchers, bank wires etc.
Accept International payments with multi-currency payment processing
PCI-compliant secure payment gateway to avoid a data breach and provide safe transactions
Real-time monitoring & Fraud Prevention tools
Complete control over your payment process

Though at first glance, all the payment solutions may look the same but it is essential to investigate various providers as their services often differ from each other before settling for one that fits your business the best.

Find the right secure payment gateway solutions you need to expand your forex business.

How To Choose The Right MMJ Merchant Account Solutions?

Upcoming years will be abuzz with businesses trying to create a niche for themselves in the market to tackle competition and offer customers some variety. Cannabis industry serves to be the perfect example of this trend.

With cannabis becoming widely accepted gradually, thanks to its legalization in certain parts of the world, the number of new businesses & products entering the market is only set to grow.

According to Forbes, “Cannabis Could be the Most Profitable Ingredient in Skincare,” with the CBD market growing to $170 million in 2017 and poised to reach $1 billion by 2020.

With the industry witnessing upward trajectory despite certain legal & banking restrictions, many alternative payment processors and merchant account providers have come up to offer payment processing solutions that marijuana merchants can take advantage of.

While looking for a merchant account provider, merchants need to be careful and consider a few points before locking in on one. Here are 5 tips when looking for an MMJ Merchant Account:

Ensure Your Processor Understands the Nature and Complexity of the MMJ Industry

With many legal and health concerns surrounding the use of cannabis, marijuana can be considered a complicated & risky business. And so obtaining payment processing for your MMJ business is not an easy task either. You certainly don’t want to end up with a shady processor who has no clue about the workings of your business.

Hence, ensure that your processor has considerable experience working with similar businesses. More importantly, the provider should be up-to-date with industry legalities and provide a quick solution in case of emergency situations wherein legal authorities might try to freeze your account on the basis of suspicious activity.

Look For a Processor That Offers Variety & Flexibility

Different merchant account providers offer different types of services. Your MMJ merchant account solutions should include a wide range of tools including secure payment gateway, card secure, tokenization, 3D secure, and fraud protection tools to ensure prevention of fraudulent transactions.

Since your business is categorized as high-risk, it is imperative that the processor offers chargeback prevention tools to prevent unwanted fees.

It is also convenient to choose a provider that approves any MMJ related businesses such as CBD products, Hemp oil, cannabis paraphernalia, etc.

Credit Card Processing Rates & Fees

Owing to the difficulties merchants encounter while obtaining MMJ merchant account solutions to take care of their payment processing needs, some providers tend to take advantage of it and charge unfairly high credit card processing fees.

While marijuana is classified as ‘high-risk’ and so your business will have to incur higher fees than the rest, there are processors that will be honest and fair by charging adequate per transaction processing rate and no additional costs.

Ensure that there are no hidden fees involved while signing on the dotted line.

Look For a Reliable & Long-Term Processing Partner That Offers Transparency

Apart from chargebacks & legal difficulties, large monthly processing volumes also make obtaining payment processing for MMJ a complicated task.

MMJ is a lucrative business and therefore will require the provider to process a high amount of volume on a monthly basis. You will find many willing to accept your business at first but will drop you instantly once your business starts to grow.

Always ask your processor how they deal with large processing volumes. Look for a merchant account provider that is transparent, reliable and gives you long term solutions.

Compatibility is the Key

If you are just starting out, always look for MMJ Merchant Account solutions that fit the requirements and demands of your business. You will want a payment processor that offers 24/7 support, technical support and immediate solution to any processing issues.