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Exploring New Modes Of Payments For Adult Industry Merchants

August 14, 2018
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Adult entertainment is a billion dollar business today and it is booming like mushrooms in a tropical forest. Adult entertainment, despite all the stigma surrounding it, has blossomed like a sunflower in the middle of March. Despite the prejudices and preconceived notions, it is basic human nature. The primal need for sexual satisfaction will never go away and anyone smart enough to understand this and invest in this industry has proved to be successful. Like any other business venture, this too requires all the necessary tools for success. One of these tools is, of course, payment processing and reception.

Contrary to popular belief, payment processing and reception does not have to be expensive at all. The idea is to be able to make the payment process easy and simple. Being the high-risk industry it already is, adult entertainment already faces enough challenges related to payments. Several merchant account providers take advantage of this by charging unthinkable amounts for merchant accounts. These vendors are often in search of a quick buck and not at all interested in the best interests of the merchant. There is also a trend among adult business merchants to have more than one account just in case. You can never be too cautious, right? And after all, adult entertainment falls under the high-risk tag. Adult merchants also have merchant accounts in different countries in order to use it as a vantage point for tapping in on the domestic market. This also gives them additional jurisdiction over that specific region.

Increasing Sales via Alternate Payment Methods

In the United States of America, the majority of sales money is received via card payments. This has however been changing over the years via a gradual process. The advent of eChecks has changed the game for adult entertainment business owners. eChecks allow for quick payment receiving and easy payment processing from banks. It is also a secure and safe way to make as well as receive payments from customers, especially if you own a high-risk business such as adult entertainment itself. eChecks basically allow you to capture sales opportunities from consumers who do not possess credit or debit cards. In many cases, it has been seen that the credit card or the debit cards get declines due to various reasons. With eChecks, this issue is never a hurdle. eChecks are essentially electronic versions of the traditional paper check and need to be printed out by the merchant and deposited to the bank for further processing. The idea with eChecks is to save the time involved in the transfer of the check from the customer to the merchant.

It is high time that adult merchants diversify and explore new modes of accepting payments from customers. Another thing that merchants need to remember is that displaying the prices in local currency is highly imperative. The thing is that there is a theory that concludes that every additional step that gets added to the shopping process will add to the possibility of cart abandonment.

Hope this write-up helped.

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