Get your adult toys merchant account in a hassle-free manner with Paycly.
Nowadays, adult toys industries booming all over the masses. It is expected that by 2026, the adult industries reach over $ 52 billion, which is really good growth in the field of adult industries.
Numerous new industries are focused on adult toys online as a result of the ongoing market entry of high-quality adult toy products. Due to the global success of the adult toys sector, the demand for an adult toys merchant account is rising. But, finding the adult toys merchant account is not an easy task because it is labeled as a high-risk business.
So, getting the adult toys merchant account is much more tricky. For varieties of reasons, the adult industry is considered a high-risk business. To get your adult toys merchant account approved, you need to work with a high-risk specialist who supports the adult industries.
Let’s discuss in brief an adult toys merchant account.
Why need an adult toys merchant account for your adult toys business?
As you know, we are living in the era of online business. Instead of, going to the physical store we just purchase anything in one click. The same things happen with the adult toys business also.
Many sites are offering high-quality adult products online. The one who offers you adult products online should also need online payment services.
If you're seeking services for online payments for your adult toy store. Reputational risk is associated with sponsoring a business in the adult sector. Therefore, the banks will view you as high-risk and there is also the possibility that it shut down your merchant account and block your funds without any notice.
So, the traditional payment service provider does not work with the adult industries. For adult industries, you have to go with the payment service provider who supports the adult toys industries. For example – Paycly. Paycly is one of the best service providers, especially for high-risk businesses like adult toys business.
Why adult-toy businesses are considered high-risk businesses?
Nowadays, there are various types of adult products available in the market. In most countries, this business is considered illegal but in the place where it is legal preferred to be sold at age 18 and above. Many other legal restrictions are also there. This is the reason adult industries are considered high-risk.
There are many more reasons which make the adult toys businesses high-risk businesses. As you know that we are living in the digital era where every transaction is done online, like any card-not-present transaction, and banks regulate the extra security fraud risk. The adult-toy industries offer subscription-based services which are labeled as high-risk.
Today, many people purchase the adult-toys without any hesitation and many people feel embarrassed when purchasing adult products. So, the chance of chargeback for adult toys is very high. This is one of the main drawbacks of the adult toys businesses.
You can also say that one of the biggest reasons why adult-toys businesses are labeled as high risk is the high chargeback volume.
As every provider has different criteria. But there are some documents that every owner has to submit, doesn’t matter which service provider they have selected. Most of the service providers ask you to submit the following documents.
• Your adult toy company must be registered and have its domain name.
• Owner’s address proof
• Last 3 months' bank statement
• Last 6 months' payment processing history of the business bank account.
• Valid passport-size photo of the owner.
• Full details of the adult toys supplier. Along with the agreement adult toys supplier and adult toys business owners have signed.
• Valid marketing and business plan.
Select Paycly for your adult toys businesses
As you know now the adult toys industry is considered a high-risk business so you have to apply for a high-risk merchant account. A traditional account does not even get approved with such business.
If you are planning to establish an adult business and have lots of confusion regarding the adult toys merchant account, we are here to help you. You can go with the paycly as it supports the adult toys business at a reasonable price.
Paycly has many features which make it best for the adult-toys industry. Let’s check.
• It offers white-label solutions which help merchant to gain their customer's trust. As the customer does not have to redirect to another page while making the payment online.
• Allows varieties of payment methods and the ability to accept multi-currency.
• An individual can go global with Paycly in a hassle-free manner.
• It provides 24/7 real-time reporting and customer services.
• It provides PCI DSS level 1 compliance.
• It also supports APM (alternative payment methods)such as e-wallets, bank transfers, and other prepaid cards.
• It offers their customer to make payments via crypto-currency.
• It offers various latest technology tools such as fraud-preventing tools.
Conclusion -
If you are running the adult toys business and in case, if your adult toys turn off, Paycly has a solution and can help you to turn your back on. Or either if you are planning to establish a new adult toys business, in this case also Paycly can help you.
Paycly provides the best solution for the adult toys company based on their current requirements. Paycly has a great experience working with the adult toys merchant so we completely understand your business need. Our solution also helps you to explore your business globally.
If you want to take your adult toys business to the next level we suggest you consider an adult toys merchant account with a strong payment processor like Paycly. Paycly offers long-term services.
If you have any queries, you can CONTACT US. Our team will clear all your doubts.