Does payment processing for your adult merchant account turn you off?

Was Payment Processing for your Adult Merchant Account Shut Down?

If you’re seeking an adult merchant account and need payment processing, (let’s say, for example, that you own an adult bookstore), the banks will automatically deem you as high risk because being associated with funding a business in the adult entertainment industry is a reputational risk. In this scenario, you own an adult bookstore but you did not take the proper route to ensure you had the right high risk processing account for your business. So, what happens next?

Well, because you didn’t avoid the chances of your adult merchant account being shut down, that’s exactly where you find yourself. The bank closes your adult merchant account and holds your funds without any notice. This means you now have no way of selling your products or services, and all cash flow immediately stops – what’s worse, is that the money from the products or services you sold are also being held by the banks for the next few months. The only way to avoid this scenario, is to choose the right payment processing company for your high risk merchant account, right from the get-go. To learn more about high risk merchant accounts, click here.

Why Does this Matter and How Can PayKings Help with my Adult Merchant Account?

When seeking an adequate payment processor for your adult merchant account for an industry that includes adult massage, strip clubs, adult book stores, novelties, toys, and websites that require memberships for pornography, it can be a tedious process to successfully accepting debit and credit cards.

In some industries, such as those who need adult merchant accounts, you can’t necessarily just walk into a local bank and get a loan – there are many hoops to jump through first.

The first obstacle is to find a sponsor bank who is allowed in their underwriting guidelines to serve the adult entertainment industry, and many of the larger institutions like Wells Fargo and Chase, do not allow this type of underwriting for adult merchant accounts.

What does this mean for the success of your adult merchant account? The only real option you have if you want to accept debit and credit cards is to work with a high risk payment processor, like PayKings, who can set you up to begin processing payments in as little as 3 business days. At PayKings we like to keep things as simple as possible for you. Here’s what you can expect and how we can help your adult merchant account accepting credit cards:

• Fill out an online application
• Submit the proper documentation
• Let our expert underwriting team go to work for you to get you approved
• Start accepting payments and making money