WE understand that finding a Merchant Service Provider who is both reliable and reputable to accept credit cards for your adult business is a daunting task. To an adult sector business owner it feels like you just have to take what you can get no matter how unsavory the terms. To add insult to injury there is no shortage of unscrupulous, uneducated salesmen out there with no qualms about taking advantage of high-risk businesses such as ones in the Adult industry.
From public perception to high chargeback rates to outright malicious fraud, the adult industry is unique all its own for even seasoned credit card processors to navigate. An uneducated salesman can cause a heap of trouble for a legitimate adult industry business. Besides being a constant source of debate for politics, lawmakers, and especially religion the adult industry is also a headache for the acquiring banks who are tasked with providing and taking on the risk of the adult industry merchant account. Sales reps who don’t truly understand High-Risk credit card processing resort to sneaky tactics like miscoding businesses just to get them approved. This only ends up setting the business up for the shut down of their merchant account and could even lead to money laundering charges.
Unfortunately, the high-risk credit card processing realm seems to be a revolving door for newbie sales reps happy to find a business model (read adult merchant account) that is an easy target for savvy salesmen looking for an easy profit.
Given all of the hurdles you already have to face as a business owner operating in the adult sector, you must make sure you are working with a processor who considers himself a professional. One who takes their position seriously enough to take the time to earn their ETA-Certified Payments Professional degree, the only certification specifically for the industry.
Sales reps in high-risk payment processing tend to come and go quickly and since the ETA-CPP certification is not required to work in the industry many of them have no desire to learn and understand this side of the industry. Merchants are left with salesmen whose only interest is locking them into a long contract with high processing rates, then moving on to the next.
You deserve a high-risk Merchant Service Provider who treats you like a professional and with respect for you and our business. But while we are few and far between, there are Merchant Service Providers out there who are reputable, educated, dependable, and transparent and we like to think we are one of them.
To reliably be able to accept credit cards in the adult industry the Merchant Services Provider must be able to provide multiple layers of fraud protection.
Adult services such as adult video websites, chat sites and toy sales are often the target of malicious fraud, making it even more difficult for legitimate businesses to outrun the stigma. They also operate on an international level that many banks are either incapable of or unwilling to operate in due to the need for extensive security protocols such as multi-point ID confirmation.
Working on an international level also brings up the subject of accepting different countries’ currencies. Multi-Currency/Dynamic Currency Exchange Processing is a must since merchants will need to accept payments in multiple currencies while needing their funding from the bank to be in their currency.
A deep understanding of the requirements for rolling reserves as well as managing high chargeback ratios are points that are unique to certain high-risk businesses that just don’t happen in most retail merchant’s everyday processing. With multiple solutions available we can also assist with load balancing, an imperative approach for managing risk.
These are all things that affect the dependability of an adult merchant account and can be mitigated when your processor knows what services are available and how to coach you.
It is more important than ever to work with a reputable Merchant Service Provider (MSP).
Adult sector merchants need a reputable processor but also one that is experienced in the unique space that an adult industry business lives and operates in.
Bankcard Brokers is extensively experienced in the high-risk realm. With strategic longstanding banking partners that are well versed in the intricacies and realities of this type of business model, Bankcard Brokers is more than prepared to mitigate the risks and provide the customer service the adult industry business owners deserve. Because of this Bankcard Brokers has become the preferred choice as Merchant Service Provider for the adult industry and high-risk businesses alike.
We can work with a multitude of business types in the adult industry including live webcams, dating sites, membership sites, strip clubs, magazines toys, and novelties sales. If you do find yourself in one of the few business models we are unable to provide for, we still may be able to offer some help with advice as to what you can do, so please don’t hesitate to give us a call and ask!
The bottom line is as a professional business owner you deserve to be able to accept credit cards for your adult business through a processor who cares more about your bottom line than theirs. A Merchant Service Provider who cares about actually providing service. Each merchant’s rates to accept credit cards are going to vary greatly depending on the type of adult business you run. A processor whose main concern is helping to ensure your success will take into account the part of the industry you participate in, your business history as well as your billing model to provide you with a custom pricing model that fits your particular business needs.
Bankcard Brokers has always aimed to become longtime business partners with the clients we provide credit card processing services to. That requires us to be more service-oriented than most processors who tend to be only profits oriented. You can always expect to get fair and transparent costs for your merchant account designed for a long term processing relationship.