Merchant account services enable a business to accept credit and debit card payments from their customers. Without a merchant account, your business won’t be able to transfer funds from card issuing banks to your business bank account. Merchant account services include payment processing for various types of businesses, including MOTO (mail order/telephone order), retail, Internet and high risk.
Online adult services are tabbed as high risk. As a rule, they struggle to get approved for a merchant account. It’s hard for them to find a payment processor that would be willing to work with them and provide the services an adult business needs to accept credit and debit cards.
What is a High Risk Merchant Account?
Increasingly, more companies are turning to payment processors and other financial institutions for a high risk merchant account because of the nature of their business. So, what’s a high risk merchant account? Below you can find the reasons why a merchant account may be classified as high risk:
- Taking a loss on your account because your personal credit or company financials aren’t able to support the sales volume you’re applying for
- There is a longer chargeback liability period with the given service/product
- If the target business operates in an industry with a history of high chargebacks
- The given account features a “reputational” risk like the adult industry
- If the business is on the TMF or MATCH list
All the mentioned reasons make a business face challenges when trying to get approved for a merchant account. Fortunately, there are reputable high risk payment processors like emerchantbroker.com that can open a reliable and low-cost high risk merchant account easily, including an adult merchant account.
EMB is voted the #1 high risk processor in the US and boasts an A+ rating with the BBB. EMB is rated A by Card Payment Options and is one of Inc. 500’s Fastest Growing Companies of 2016.
EMB can get you an adult merchant account for your dating, adult novelties, adult toys, and adult content websites. As long as your chargeback rate is below 3%, EMB can help you get your business the proper credit card processing account.