| There are two surefire ways to make money off the | | | | of compiling each and every document every time you |
| Internet. First, find something (product, service, etc) that | | | | send out an application form. Here are samples of the |
| could arouse the interest of your target audience. If this | | | | kind of information that you should anticipate the |
| is a niche product -- something that you and a handful | | | | merchant account provider would ask for: |
| of other adult merchants specialize in -- much better. It | | | | 1.Pertinent details about the company (ie, name of |
| would only mean you have less competition and a | | | | corporation, full address of where you conduct |
| bigger probability to succeed. As this article deals with | | | | business, contact details of the company |
| something more towards the adult industry, let's take a | | | | representative and much more) |
| look at that in particular. Focusing on general adult | | | | 2.Website information (including URL, years online, |
| entertainment can be too broad and tiring to maintain. | | | | current traffic, etc.) |
| Try to shift your focus onto more specific fields (ie | | | | 3.A general description of the types of products and |
| adult toys, dating service, live webcam feeds, blogs | | | | services sold on your website |
| and real life stories and so much more). | | | | 4.Information about your existing payment processor |
| Second and more important of the two, get a | | | | (name of the current merchant account provider, how |
| merchant account service provider that would enable | | | | long you were with them, the kind of relationship you |
| you to accept payments online. Unless you're running | | | | had, the service they were able to provide, etc.) |
| an adult entertainment business purely as a hobby, you | | | | 5.Sales volume |
| would want to collect money off your patrons. All your | | | | 6.Average number of sale transactions (per month) |
| hard work would be a great waste if your website is | | | | 7.Chargeback volume ratio |
| not equipped as an e-commerce site. Being able to | | | | 8.Refund ratio by volume |
| accept major credit cards whether for recurring | | | | In terms of paperwork, different merchant account |
| subscriptions or one-time purchases is the key to | | | | providers require different things. In any case, you |
| running a successful online adult business. | | | | should be prepared to provide: |
| For the first problem, there's an easy solution. After all, | | | | Completed application form (issued by the merchant |
| you wouldn't be in this business if you didn't already | | | | account provider) |
| have materials in the first place, right? So you can | | | | Statements from your current processor (if you have |
| either ride on your creativity (for blogs, stories and | | | | one) |
| photography), buy available content online (videos and | | | | Articles of Incorporation (or Certificate of Incorporation) |
| photos), hire talents (live webcam feeds) or have good | | | | Annual / Quarterly financial report from the company's |
| sourcing (for toys and other adult paraphernalia). That | | | | public accountant |
| shouldn't be a big problem then. | | | | Letters of reference (in most cases, from other |
| The second one, as previously mentioned, is more | | | | financial institutions) |
| important, and even more difficult to acquire. Any | | | | Information about the corporation's board of directors |
| financial institution, whether banks or other alternative | | | | Proper identification for members of the board |
| channels, will go through its clients with utmost care | | | | PCI (AIS/SDP) compliance certification |
| and consideration. Lending money or processing it for | | | | To protect its assets, the merchant account provider |
| other people is a big responsibility; as such you might | | | | may also ask you questions about the company's |
| have to go through the strictest standards to get a | | | | practices. This may include questions about your |
| merchant account. | | | | customer support ability, shipping fees and estimated |
| One very important thing you have to understand | | | | delivery time, return policy, cancellation policy, existing |
| though, adult businesses are considered high-risk | | | | fraud scrubbing methods and other such matters. Bear |
| businesses. This means that while merchant account | | | | with them as they try to assess your business. Keep |
| providers might be tough on regular online merchants, | | | | in mind that not all merchant account service providers |
| expect them to deal with you with an iron fist. This | | | | cater to the adult business, so they really need to find |
| may mean a lot of things, including more paperwork to | | | | out about all these. There are some businesses out |
| present, longer approval time, even outright denial. Also | | | | there that already understand the adult industry. You |
| part of the problems that adult merchants might | | | | can also try a number or other service providers out |
| encounter would be the higher fees. If you bear all | | | | there. Use a reliable search engine to come up with a |
| these in mind when looking for an account, you should | | | | list. Try keywords like "adult merchant account" or |
| be able to get through the process much easier. | | | | "adult payment processor" to generate a fairly long list. |
| Now, off to the more important questions. As you go | | | | Knowing all these will not guarantee an approval but |
| thorough your list of possible merchant account | | | | the information can prepare you for the challenge of |
| service providers, you should also begin to prepare a | | | | looking for a merchant account for your adult business. |
| second list. This one should detail what each payment | | | | Requirements differ between payment processors, |
| processor asks from you. If you find that some of the | | | | but there is one thing they have in common: they want |
| requirements are common across all payment | | | | to help you. This may mean knowing everything about |
| processing service providers, then by all mean, jot | | | | you and your adult business and if you can also help |
| them down. Then, proactively prepare a package with | | | | them fulfill a long-lasting and mutually beneficial |
| all the things they require. This would lessen your work | | | | relationship. |