Obtain Adult Toys Merchant Account with PayCly to Boost up your High-risk Adult Businesses
Adult toys industries are booming worldwide. The market has surpassed the $5 billion level and is expanding thanks to introducing new business strategies that present new opportunities. More than 40 million Americans frequent adult websites regularly, and over 33% of all internet downloads contain adult content.
A raging customer base searching for brand-new, interactive adult toys on adult-specific e-commerce stores makes the adult toys and sex products industry a hit. The adult toy market is rapidly booming, and by the end of 2026, the industry’s global valuation is anticipated to exceed $52 billion.
A merchant who wants to establish their online adult business should require a merchant account for adult toys and an online payment gateway to offer their customers a secure payment solution.
Is the Adult toys industry high-risk?
The simple answer to this query is Yes; adult toys industries are considered high-risk. Most acquiring banks and financial service providers deny working with the adult industries and categorize it as high-risk. There are many reasons due to why the adult industry is considered high-risk.
Reputational Risk: Most service providers can efficiently work with any profitable industry but not all. Some service providers don’t want to be involved in these types of sectors even if they are completely legal because of their reputational risk.
Heavy Regulatory: Adult industries are more regulatory at the state level than other high-risk businesses. This industry required minimum age requirements for both customers and merchants.
In some states, sales of adult products are prohibited. Due to these reasons, most service providers see it as a high risk.
High-chargeback rate: It is one of the most common reasons the adult industry is high-risk. Usually, the chargeback rate must be under 1% of the sales, but the adult toys industry chargeback is higher.
High risk of fraud: Fraud is among the most common and ever-growing concerns for all online businesses, including adult industries.
Additional Security Concerns: Hackers and other cybercriminals frequently target adult businesses, so this industry requires an extra layer of security.
How you Obtained a High-risk Merchant Account for Adult Toys?
At first, the merchant must fill out the application form online. Before applying for the adult toys merchant account, ensure you have arranged all the documents to give to processors and underwriters, the application, and a safe, operational website. The documents which you need to set are –
Personal Documents –
- Valid identity proof such as a driving license or passport.
- Three to six months of bank statements
- Valid SSN or EIN (SSN stands for Social Security Number and EIN stands for Employers Identification Number)
- Three to six months of processing history
Business Documents –
The merchant of the adult industry must also submit the necessary business documents and personal records.
- Copy of their business license
- Adult toys business certificate of registration
- Details of the dealer
The adult toy merchant needs to arrange all the documents. It increases the chance of getting a high-risk merchant account. But, having the records are not enough. Along with the above report, your adult toys websites should also contain the following pages:
- Private Policy Page
- Terms & Conditions Page
- Deposit & Refund Policy Page
- Must have contact details (either phone no or email id)
- Credit card processing logo (Visa, Mastercard, etc.)
- Company name in the footer
Are you Looking for a Specialized Merchant Account for Adult toys?
Well, obtaining an adult toys merchant account for the high-risk adult industry is a challenging task. The merchant must look for someone with lots of experience in dealing with the same sectors. The chance of approving the merchant account get increases.
One such type of service provider is PayCly. With PayCly, you can get an adult toys merchant account and international payment gateway for adult toys with the best term on the market, and it also ensures that you can get a bank specializing. With us, your merchant account can quickly get approved within three to seven working days with all the proper documents because we maintain excellent and professional relations with most acquiring banks worldwide.
So, contact the PayCly expert team right now and finalize your deals.
How PayCly will Help You?
PayCly offers many benefits which help merchants explore their global business and achieve a new level of success. Some of the best benefits of using the PayCly as your adult toys merchant account provider are –
- It approves the merchant account within three to seven working days with all the proper documents.
- Has the ability to accept multi-currency from all over the world.
- Allows customers to make the payment the way they want. It means offering various payment modes.
- It has PCI DSS Level 1 compliance and provides futuristic security tools like anti-fraud and anti-chargeback.
- 24*7 real-time reporting
- Excellent customer support services.
Final Thoughts –
The merchant of adult toys needs to use the best payment processing account to reduce risk and fraud. PayCly is one of the best service providers compatible with high-risk adult industries. Before applying for a merchant account, the merchant must arrange all the necessary documents.
PayCly offers many benefits to the adult toys merchant account, which help merchants to run their high-risk business successfully.