PayCly Blog

Best Way to Increase the Chances of Getting Approval for An Adult Merchant Account

Adult toys enterprise is one of the fastest growing industries all over the masses. It is supposed to reach over $52 billion by 2026, which is good industry growth. So, you can say it is a good time to invest in this field. But first, you have to look for the merchant account.

Nowadays, running a business successfully without credit card processing is impossible. However, adult enterprises have to face this type of problem every day. Most bank and fintech service providers consider these industries as "high-risk" for several reasons.

  • They have a high risk of fraud and chargebacks; this is why they are subjected to government scrutiny and various regulations.
  • Generally, high-risk businesses have doubtful reputations – this is why most fintech service providers deny dealing with high-risk industries.

Most popular fintech service providers, such as PayPal and Stripe, deny working with such industries. So, if you are running high-risk businesses, it's quite tough to have a suitable service provider. As an adult merchant, it is critical for you to find a merchant account for your high-risk adult enterprises.

As the adult industry is considered a high-risk industry, high-risk payment gateway providers are the best fitting credit card processing solutions for your business.

Enquiry Now

Let's figure out how to have the best merchant account provider for your adult enterprises.

Is it difficult to get the adult toys merchant account?

As a merchant, when you apply to any fintech service provider or payment processing company, they will turn you down after reviewing your request for an adult toys merchant account. This is because most fintech service providers deny offering their services to enterprises considered high-risk. Some of the most popular payment processing companies, such as Stripe, PayPal, Square etc., do not offer their service to the adult toys industries.

These fintech service providers hardly do their underwriting at the time of application. So, in the beginning, they can easily accept your merchant account application. But when they realise you are running a high-risk business with high risk merchant account for the adult industry, they will deny accepting your adult merchant account.

This whole process takes six months or more than that. In most cases, the payment service provider immediately should down your adult toys merchant account and send you the notifications. In some cases, they also freeze your merchant account permanently.

So, it's better to go with a trusted high-risk service provider such as PayCly. It is one of the trusted high-risk service providers that will cover all your risks, and as a merchant, your request will be accepted within 3 to 5 working days. It offers excellent customer service 24*7 and is always ready with a satisfactory answer for any questions or concerns.

How to increase the chances of getting approved for your adult merchant account.

As you are running high-risk enterprises, you should be prepared to answer any queries regarding your business and sometimes your finances and personal. Getting approval for the high-risk merchant account is a little frustrating, especially if your business is related to the adult industry. So, it is better to choose the fintech service provider who has lots of experience in dealing with the adult industries.

To increase the chance of getting approval for your adult merchant account, here are some things which you can do -

Arrange all your documentation -

Before applying for the adult toys merchant account, you have to arrange all the documents. As every service provider has its own rules and criteria, some rules are common with every high-risk service provider.

As a merchant, you must prepare the business license, full business plan details, and other documents related to your adult toy enterprises. Along with this, you should also include some other documents such as bank statements, identity proof etc. It is a good idea to be ready with all the essential documents.

Good personal credit score -

The chance of getting approval for your adult toys merchant account will increase if you have a good credit score. If you have a low credit score, the chances will get lower. You can also improve your chances of getting approved by paying off your bills and credit card debts.

Be honest, and no need to hide anything about your business -

This is one of the most common reasons the high-risk merchant account either gets frozen or permanently terminated. Every day, many high-risk merchant accounts get turned down by the fintech service provider because they mislead about their business nature.

Openness and honesty are essential for any business. As a merchant, you must give your business full details, including your products and services. The payment processing company will feel happier if you are running a legitimate business.

Never supply wrong or misleading information when applying for a merchant account. The risk of being blacklisted or placed on a watchlist will increase if you do this. After that, it will become much more challenging to get a high-risk merchant account in the future.

Getting an adult merchant account

Now, you know that it is quite challenging to get a merchant account for high-risk businesses such as the adult industry. The significant reason is that the adult industry has a high volume of chargebacks. This is why most bank and fintech service providers will keep turning clients in this niche away.

The sponsoring bank must permit adult enterprises in their underwriting requirements to accept you. And it will always be challenging to get accepted as long as most well-known banks and payment processing service providers worldwide do not permit processors to underwrite for adult enterprises.

In this situation, it is best to submit the application form to a high-risk adult toys merchant account provider who has experience in dealing with high-risk industries like PayCly. This service provider offers flexible payment gateway options and all other essential solutions for your high-risk business.

Choose the best adult payment processing company.

As the adult industry is considered a high-risk business, it is a good idea to deal with a high-risk service provider who has experience in dealing with adult industries to save time and effort.

We already discussed that chargebacks are common in these enterprises, so go with the service provider with chargeback protection tools. Also, implement a tool that verifies the customer's age. It will help you to curb unauthorised transactions, which reduces the risk and retain profits. Last but not least, finding a processor who provides on-demand support when you require it shows a drive to assist you in identifying potential hazards and a readiness to keep communication open with merchants.

As an adult industry merchant, you need a high-risk gateway service provider aware of your business nature and risks and who offers you the best possible tools to support business growth while meeting the enterprise's unique requirements.

With PayCly, you get free equipment, no long-term commitments, a high-risk processor dedicated to complete transparency in the billing process, and no long-term obligations at a reasonable rate. To know more about PayCly, you can contact us without any hesitation.

Final Thoughts -

Are you also looking for a reliable adult toys merchant account? As the adult industry is considered a high-risk business, it is quite challenging to find a suitable high-risk adult toy merchant account.

As a merchant, you must face many challenges when choosing the service provider who accepts your application form and offers you the adult merchant account. For this, you must go with the service provider specialising in dealing with high-risk businesses. You can increase the chances of getting approval for the adult toys merchant account by doing some simple things -

  • arrange all documents correctly
  • having a good credit score
  • always be honest with your service provider

If you are following these three rules, your chances of getting approval will increase. We also recommend you choose PayCly as your payment gateway service provider because it has experience in dealing with adult toys enterprises. This service provider offers you the best possible solution to your business at the best rate in the market, which will help you to grow your business.