The adult sex toy industry is one of the tremendously fastest growing merchandise. With an estimated US market size of $33.64 billion in 2020, the industry is booming with savvy business owners taking the industry sky heights.
It might seem unexpected that the majority of US payment processors view adult sex novelty merchant accounts as "high-risk." Major financial institutions across the country claim that offering Adult Toys Merchant Account items come with such a high financial risk that doing so is not commercially feasible.
If you're the manager of an establishment selling adult sex toys, you're undoubtedly already aware that you work in a dangerous field. You're not alone either. Numerous sectors are prohibited from using easy online payment options and merchant services across the country.