This article outlines the list of restricted merchant types and the reason why our Acquiring banks have a risk appetite for they types of business they onboard and where this information can be found.
Oolio’s Acquiring banks both have their risk appetite when it comes to Products and Services that are utilising the Acquirers services. There are multiple reasons as to why the selected products and services are found within he Prohibited and Restricted lists, here are a few of the reasons;
- Levels of assessed risk (chargebacks, fraud)
- Reputational impact to the acquirer and cost aspects associated with this.
- External Requirements of the acquirers payment partners (for example schemes, governments)
If a merchant of Oolio is found to be on these lists, depending on whether it is Prohibited or Restricted will determine the next steps;
Restricted: a Restricted product or service offered will need to be approved by the acquirer with a manual review and additional information provided to the Acquirer.
Prohibited: a Prohibited product or service cannot be approved as the Acquirer does not find the product or service within their risk appetite. The prospect will need to be halted and no such onboarding will go forwards.
Please see below the link/list to our Acquirers Prohibited and Restricted Product and Service Pages.
Local Acquirer Prohibited Merchant Categories:
- Trading illegal product sales and services including firearms, weapons, drugs, child pornography, human trafficking or
- breach Australian or New Zealand Laws
- Trading counterfeit goods or intellectual property copyright infringement
- Adult services such as prostitution, pornography of all types, sale of adult products
- Unlicensed or unaccredited businesses e.g. alcohol, financial services, gambling, betting, health practices, education
- Unregulated businesses e.g. unregistered charities, not for profit
- Political parties and lobbyists
- Virtual currencies / cryptocurrency exchanges, sales or trading, Foreign exchange or CFDs
- Get rich quick schemes e.g. multi level marketing or pyramid schemes
- Travel Segment - Airlines, Travel Agencies, Hotel Chains
- If located in Australia: Merchants whereby business activities are outside of Australia; or is located outside of Australia
- If located in New Zealand: Merchants whereby business activities are outside of New Zealand; or is located outside of New Zealand
- Selling of legal highs or related products/accessories
- Sells products or services that require licences, where the licence cannot be presented, or the licence is not valid or ceased to be valid
- Sale of goods or services that may carry material reputational risks to Wpay or the Payments Facilitator
- Engages in or provides referrals for online sales of pharmaceuticals or prescription medicine, sale of products that commit to provide tangible medical or health benefits
- Engages in outbound telemarketing
- Is itself a payment facilitator, payment aggregator, Independent Software Vendors (ISV’s) or marketplace
- Sales of sporting arbitrage software
- Regulated Gaming (including lotteries, bookmakers, wagering or similar services)
- Payday loans, cash flow factoring or similar services
- Grows or manufactures tobacco products, vaping stores, online tobacco or tobacco cessation (quit smoking) product sales
- Registered charities - subject to written prior approval
- High-risk cyberlocker services (3rd party file sharing services)
- Unregulated voluntary carbon credit trading
- Debt recovery including collections agencies
- Sports or luxury car hire
- The sale of pre-paid power, voucher or coupon sales
- Crowd-funding
- Property development (off the plan deposits), construction payment (including progress payments)..
- Real estate agencies, Legal firms trust services
- Precious metals/gemstones trading
Global Acquirer Restricted & Prohibited Merchant Categories: https://www.adyen.com/legal/list-restricted-prohibited