One would think that getting a bank to offer payment processing accounts should be an easy task. However, it can be difficult or even impossible sometimes. When your business operates under the high risk industry, you will be considered as a high risk merchant and banks may be wary of doing business with you.
While there are other factors that will determine if you are a high risk merchant, the industry within which you operate is usually the most prevailing factor. Here are the top 3 high risk merchant industries.
We all know that the reputation of Adult Entertainment is high risk, giving that the industry has a notorious reputation for abuse, trafficking, and lawsuits. That’s why we support high risk merchants within the adult entertainment industry to access fair payment processing, avoid unnecessary chargebacks and account closures, and help them with their corporation set up.
Another industry with high risk merchants is the nutrition industry. We have done work with people within these industries and even sectors that are not mentioned.
CBD processing for merchants is considered high risk; therefore, if you operate within this industry, you may find it thoroughly impossible to get a bank to support your business, open an account for you, and treat you fairly. This is because laws can make your business illegal, and there is always the possibility of fraud within the hemp CBD industry. At PurePay, we understand these peculiarities, and that is why we work with CBD producers and online merchants and help them set up payment processing for their CBD business.
If you have issues with payment processing, PurePay operates with numerous banking institutions, and we have what it takes to get you the payment processing you deserve.