Countless people from different walks of life can enjoy pornographic films and images, and the internet has completely changed the game for the porn industry, making adult content and materials far more accessible for people all over the globe. The internet has also opened up the doors for entrepreneurs who want to get involved in the industry with their own porn businesses, too.
Setting up a porn website or adult business online can be a great way to make money and build a loyal audience of customers. However, there are various rules and restrictions associated with the industry that need to be complied with. It’s also important to make sure you’re fully aware of the financial side of running a porn business.
The High Risk Porn IndustryThe pornography industry has been around for years, with the concept of sexual images and artworks dating all the way back to prehistoric times. In the 20th century, porn saw a huge rise in production and consumption, thanks to the arrival of home video and widespread accessibility to cameras and video content.
Then, the rise of the internet towards the turn of the 21st century changed the game even further, opening up the world of porn websites, porn streaming platforms, and other online adult businesses. With the power of the internet, it’s easy and more convenient than ever before for anyone wanting to view pornographic content to be able to access that content with the click of a button.
The internet has also given rise to new ways of sharing, distributing, producing, and consuming adult content, such as cam websites, free porn sites, and so on. This has shaken things up in the industry, while also opening up new opportunities for savvy entrepreneurs looking for their slice of the adult entertainment pie. But in order to get involved, you have to have a porn merchant account.
So what is a porn merchant account and why is it such an important part of running a porn business online? Well, let’s start off with a simple definition of what is a merchant account: a merchant account is a type of business account that is specifically designed to make it possible for businesses to accept electronic payments by credit or debit card.
In other words, a merchant account is needed if you want customers to be able to pay you online. Without one of these accounts, you won’t be able to accept any kind of card payment from your customers. And in the porn industry, a huge amount of payments are happening by card over the internet, so you really have to have a merchant account in place to facilitate those kinds of payments.
With a porn merchant account set up, customers will be able to make a payment remotely from the comfort of their own home via their card on your website. The money will then go from their account into the merchant account for processing, before being passed on through to your main business account, for you to spend as you see fit.
It’s clear to see that you need to have a porn merchant account if you want to run an online pornography business in today’s world. However, if you try to obtain porn merchant services from a local bank in your area, you may find that they will immediately reject your application and refuse to offer any kind of merchant account for your porn business.
There are a few reasons why banks and other financial institutions may decide to do this. One of the reasons behind this is that banks can sometimes be a little old-fashioned and adhere to outdated ideas. Some of them refuse to work with porn or adult businesses based on the controversial or scandalous nature of these businesses.
Banks can also see porn businesses as “high risk” businesses. That means that they could be taking on quite a lot of risk if they choose to work with such a business. Why? Well, one issue is that there are a lot of chargebacks for porn businesses and websites because people can sign up or pay for content and then try to get their money back, for various reasons.
A minor might use a parent’s card to access a porn site, for example, which can cause a lot of moral issues and financial complications when the parent finds out and wants to have their money returned. Or someone might pay for porn and then feel buyer’s remorse, wanting a refund and disputing the payment directly with their bank due to shame or regret. All of this causes hassle for banks, so they prefer to avoid it, in general.
So what are you supposed to do if you want to get a porn merchant account and run a reputable adult business online? Well, even though a lot of the banks out there might say no to you, there are still plenty of others who are willing to work with you. And here at Shark Processing, we can help you get in touch with those banks and find the perfect porn merchant account to meet your needs.
At Shark Processing, we’re experts in handling high risk credit card processing and high risk payment processing for high risk businesses like yours. We work with a trusted network of banks and payment processors who are able to provide high risk merchant accounts, including high risk porn merchant accounts.
We can help you get a merchant account for an adult business with the best possible rates and terms, as well as the lowest fees and the finest levels of customer support, as and when you need it. Get in touch with our team today to find out more about what we can do for you.
