While PayPal is one of the common options most retailers consider when looking to process credit card payments, there’s always the question of whether you can use it for your merchant account for high risk business. Unfortunately, you can’t, because they don’t accept merchants like you. Along with other payment aggregators like, Stripe and Square, PayPal is not willing to allow adult businesses use their processing service.
These processors have a procedure that’s slightly different from others. While others underwrite you during application, PayPal, Square and Stripe will only start the process as soon as you begin accepting credit card payments. Therefore, even if they agree to work with your adult business when you submit an application, chances are they’ll get back to you in one to six months after conducting their actual underwriting to inform you that they don’t allow adult related businesses. And sorry to say, they’ll instantly terminate your account. And as if that’s not enough harm, they’ll go ahead to freeze your finances for up to six months.
The above consequences explain why PayPal along with other aggregators are an “easy come, easy go” alternative. So if you do not want to run your business in fear that someday you’re account will be frozen without prior notice, go for a high risk credit card processor.
Do high risk credit card processors accept all types of high risk businesses?
Despite the frequent changes in the industry, you will most likely get a processor for virtually any type of high risk business you run. Only ensure your business is legitimate and has a desirable reputation. That way, you can easily get any processor to approve you for a merchant account for high risk business.
Examples of high risk industries we can work with include:
- Online Lingerie and Adult Clothing Shops
- Strip Clubs
- Adult Massage Businesses
- Escort Services
- Adult Toys and Novelties
- Adult Bookstores
- Adult Content Membership Sites
Most adult credit card processors support high risk ecommerce companies and help them grow their business by giving low payment processing rates and versatile payment alternatives through their merchant account services. So why go for PayPal only to have your business brought down in six months or less?