Yes, certain industries face restrictions, prohibitions, and/or licensing requirements when applying for merchant accounts in the US and Canada. While regulations vary by state and province, commonly impacted industries include:
- Any business dealing in products or services deemed illegal under federal or state law
- High-risk financial services (forex trading, binary options, and certain cryptocurrency-related businesses)
- Adult content (adult entertainment, streaming, and dating services)
- Gambling and betting (online gaming, poker, lotteries, sweepstakes, and raffles)
- CBD and cannabis-related products
- Multi-level marketing (MLM)
If your business falls into one of these categories, we can help you navigate restrictions and find a compliant payment processing solution.