ParamountPayments.com is based in the Los Angeles area, a thriving hub of commerce. We provide merchant processing to all industries and sectors, and to all business, from small single proprietor and “mom and pop” operations, to much larger companies and commercial ventures. We are happy to examine your needs for merchant processing and provide you with the best credit card processing available, at competitive and cost-effective rates.
Los Angeles is also the hub of the adult entertainment industry and a world-class city that has traditionally been at the forefront of freedom and free speech issues when it comes to the adult industry and other gray-area occupations and markets. While we provide merchant processing to anyone, we also understand that there are certain industries and fields that have traditionally been underserved by available financial institutions.
According to Nadia Kayyali and Rainey Reitman, writing for the Electronic Frontier Foundation, Chase Bank is just one of several banking institutions that has closed down the personal banking accounts of multiple adult entertainers. This was done simply because of what those entertainers choose to do for a living. In other words, these individuals, who had committed no crime and perpetrated no financial malfeasance or irresponsibility, were penalized anyway by a bank that simply disapproved of the high risk industry in which the performers were engaged. EFF also has reported on other instances of banking or financial institutions deciding what you can and cannot do, according to that company.
For example, again according to EFF, PayPal (which performs credit card processing for many merchants through PayPal Here) started denying merchants the payment processing options available through PayPal if those merchants were selling books (through another online provider, Smashwords) that PayPal decided were “obscene written content.” Mark Coker, Smashwords’ founder claimed that the ban targeted things like bestiality, incest, and underage erotica.” But while most people would agree that those things are bad, most people who understand freedom of speech wouldn’t want a payment processor deciding which books fell under those categories and which did not. That would be like your bank deciding it didn’t like the books in your library and closing your checking account as a result.
The EFF reports that PayPal cut payment processing services to WikiLeaks a few years ago. You may remember the big political flap that occurred when WikiLeaks published a variety of material provided by a whistleblower, and among that material was sensitive or classified intelligence data. Well, in order for WikiLeaks to have money to keep doing its work, it has to be able to process donations or payments, but if PayPal wouldn’t do it, and the major card associations wouldn’t do it, that left WikiLeaks with a very distinct problem: There was no way for it to take in money in order to continue its business. Now, remember, this has nothing to do with what you think WikiLeaks should be doing, and everything to do with whether banks ought to be able to decide, based on their management’s ideas of morality, whether a company should receive merchant processing or not.
Do you really want a financial institution, a merchant processor, or some other financial entity deciding whether your business is moral or immoral, the books you sell are obscene or not, or the products you sell are decent or indecent? We don’t feel your merchant account should be able to make that judgment… but a lot of companies to which you might turn for merchant processing, even high risk merchant processing, apparently feel that it is their right to police your business, or the content of your customers’ purchases, by denying you their service even if you have not violated their terms. Or rather, they feel they can change their business relationship from one that is financial in nature to one that is moral in nature, wherein they can tell you what is okay and what is not.
Another way that your business or industry might be targeted is by spurious claims of IP infringement. Let’s say you have a high risk merchant processing service processing your credit and debit card payments. If some outside force, some parents group, or some political action group decides they don’t like you or they don’t like your business, they might try to target your content as somehow a violation of someone else’s intellectual property rights. They might not be able to prove this in court, and they might not actually have any evidence of it… but if they go to your payment processor and claim you are engaging in intellectual property theft, copyright violation, or some other infringement of intellectual property, often the credit card processing company will become afraid that it is facilitating a business that might not be legal and could open them up to legal repercussions. They’ll almost always fold as a result, closing the merchant account and leaving you, the merchant, high and dry, with no way to accept payment for your sales. When that happens, your business will grind to a halt and you’ll be at a total financial standstill. It isn’t right and, strictly speaking, it shouldn’t be legal, but that is all too often how it goes. WikiLeaks and those adult performers whose accounts were closed by Chase are just a couple of examples of people whose businesses were frozen out, unfairly and wrongly, because they were denied the ability to process payments.
It isn’t just the adult industry or any of several other “gray” markets that is affected, too. Sometimes it is things as fundamental as firearms. For example, SunTrust Bank canceled a pawn shop’s bank account because the owner of the pawn shop sold, among other things, firearms. The bank told the pawn shop owner that his business interests were no longer in sync with SunTrust’s “corporate business objectives,” but provided no specific rules that were broken and no justification for shutting down the owner’s account. It was simply because the bank didn’t want to do business with someone who was legally selling legal firearms and following all of the state and federal laws in doing so. That is an important fact that you should stop to let sink in: These people who are having their bank accounts and their merchant processing accounts closed have not actually been accused of committing any crimes. They haven’t done anything wrong. They’re being punished because the banks handling their personal accounts or their credit card processing didn’t like the types of business in which these clients were engaged. They punished the clients accordingly, causing them to lose sales, credibility, and time as they scrambled to find some other way to process and/or deposit payments or make disbursements to creditors and vendors.
Now, you may be wondering why this is important. Well, as the EFF explained in its excellent article, “Free Speech: Only as Strong as the Weakest Link,” payment service providers, or credit card processors, are the virtual merchants that make many phone- and Internet-based businesses possible. If you can be paid for what you do or sell, you are in business… but if you can’t be paid by what you do or sell, and you can’t be paid immediately (instead of, say, excruciatingly slowly by check or money order), then the credit card processors actually hold the power to shut down your business… don’t they? You might be thinking, “Well, if I just take checks or money orders, the money is slower, but I can still take it in, and there’s less hassle when it comes to electronic security.” But that’s only if the checks clear, and even if you only accepted money order, what then? If your bank can shut down your personal banking account because you’re a porn star, the owner of a “head shop,” or someone engaged in an industry considered high risk or, while legal, morally “gray,” than these credit card processors have the power to censor what you can do, say, and own… and also tell you what business you can engage in. We think that’s wrong, and that’s why ParamountPayments.com exists.
Think about how difficult it is to run a business at all. You face constant challenges, stressors, and pressures. Your business demands constant vigilance and attendance to detail. The smallest problem could derail your plans and make it that much harder for your to succeed. Meanwhile, anything that helps you to grow your business and expand your market is by definition a good thing. If you want to ensure the best chance possible for your business, then choose ParamountPayments.com.
Paramount Payments Lets You Achieve Your Business Goals
At ParamountPayments.com, we understand that you have certain goals. You want to reach as many people as you can. You want to serve your customers and serve them well. Everyone who hears about your business, who visits your website, or who contacts your storefront is a potential chance to convert a sale. So how do you turn someone from a potential sale to a definite sale? How do you convert them? You do this through several means. One is by offering an excellent product, something that the customer wants to buy. Another is by skillfully marketing that product so that your customers will find out about you, shop with you, select your product or service, and buy it. But a really big part of your business is something that too many business owners take for granted, and that is actually collecting the sale. If you build it they will come, goes the old movie saying. But if you can’t accept your customer’s payment, it doesn’t much matter that you built a great product, marketed it through a great site, and got your customer’s attention. If he or she can’t give you his or her money and take home or have shipped or downloaded the product or service in question, then you’ve got a failed business on your hand (and a frustrated customer to boot).
Adult merchant processing, high risk merchant processing, credit card processing… call it what you want to call it. An adult merchant processor like ParamountPayments.com exists to help you get your client’s money and turn it into sales for your business. When a customer pays with a credit or debit card, we process that payment for you, and the money finds its way into your merchant account. We process your payments efficiently and in a cost-effective manner. We also work diligently to make sure you are never paying more than you should. This is our commitment to you. We think you deserve our services, and we know that you will make the most success when you can check certain boxes off your to-do lists. In other words, there are a lot of decisions that you must make as part of your business. These decisions include the ongoing vigilance and diligence you must apply to keeping your business going and to positioning it for competitive advantage. Every business owner, from a single adult performer to someone running a website to someone with a chain of stores (and even bigger ventures) must contend with these day to day decisions and requirements. If the slightest thing goes wrong, it could conceivably disrupt your business, interrupt your cash flow, and affect your bottom line (and therefore your solvency or profit and loss).
Think about how reassuring it is to a business owner, then, to know that certain things have been taken care of and are running smoothly. These are those check boxes we talked about — tasks that have been completed and require no further effort or mental energy. To know that your payments are being processed efficiently and at affordable rates is one such relief that all business owners deserve to have. We have applied our philosophy to our business according to our understanding of this principle. You deserve a good deal. You deserve to be treated well. You absolutely don’t deserve to be treated poorly simply because someone behind a desk somewhere upstream of your financial obligations doesn’t approve of the industry you work in, or the industry you serve.
We’re all in this together. We’re all trying to maintain the financial health of our businesses. We’re all trying to get ahead. When you choose ParamountPayments.com to be your high risk merchant processor, you are choosing the best credit card processor you will find online. We, as a virtual merchant, are dedicated to making sure the cash from your sales continues to flow into your bank account, sure, but we also want to build a financial relationship with you. If we can do that, then we can rest easy knowing we’ve done our jobs. If we can do that, we can know that we helped someone today. If we can do that, we can live up to our name. The paramount is the pinnacle. It is the highest point. ParamountPayments.com is the highest point of a financial services industry that certainly knows some true lows. You can avoid those lows. You can avoid those pitfalls. When you contact ParamountPayments.com today about setting up a merchant processing account, whether you need adult merchant processing, some other type of high risk credit card processing, or you’re not sure exactly what you need, we want you to contact us.
We would also like to stress that it’s okay if you don’t know what you want or need. That’s why we’re here. It’s why we do what we do. You don’t have to be a financial services expert to use our services. In fact, it would be a waste of time if you felt like you had to first learn all about the industry. We would be happy to help you, to answer your questions, and to explain our proposed solutions to the challenges you face in clear, easy to understand language that takes the mystery out of the process. Are you ready for a better merchant account? Are you ready for a virtual merchant who has your back and is ready to defend you from censorship and hassle? Then you are ready for ParamountPayments.com and, best of all, we are in turn ready for you. Don’t delay. Contact us today and let us get the process started for you. For us, it’s all about relationships, and we’d love the chance to build a financial relationship with you.