Square banned industries include any shops that sell illegal merchandise, telemarketing services, escort services, and a range of other high risk industries. Square distinguishes between store types that aren’t supported based on what they sell and how they sell it.
Square High Risk Merchant List
Square has bundles their high risk merchants with some common themes that apply to many types of high risk industries . Those merchant types can be found below:
- Age Restricted Items – Any product or service that has to legally be sold to someone over a certain age is considered banned by Square. Products like tobacco or vape are perfect examples of items that cannot be sold to minors and therefore aren’t allowed to be transacted through the use of Square terminals.
- CBD and Kratom – Popular alternative product types like CBD or Kratom tea represent new market types that cater to alternative cannabis users. CBD comes in many forms and offers different strands such as Delta-8 . Unfortunately, these related items don’t qualify as approved products under Square’s terms and conditions.
Square Prohibited Goods Policy
If Square finds out you’re selling goods or services that violate their policy, they will reach out to you directly to collect more details. Their goal is to ensure that Square customers operate within the confines of the initial agreement. As a result, if they find anything out of the ordinary they will freeze payments on your device.
Square Freezes Payments
If Square stops your payment transactions you’ll be left without a means for customers to make purchases. Nonetheless, you have a few options to ensure your company recovers quickly without too much lost revenue. Here is what to do next:
- Find A High Risk Payment Processor – A high risk payment processor is a company who specializes in helping Square’s banned industries. There are many to choose online that can provide you with a merchant account that allows for your payment needs.
- Get Your Information Together – Share your company information and details about ownership as well as payment history. The high risk provider will review the paperwork and share it with their underwriting team to get you approved fast.
- Download A Gateway Integration – If you’re using a terminal, then you have to switch over to an online gateway. It’s essentially the same thing, but can be used on a number of computer devices rather than just one. Ask your high risk provider about which devices are best for their recommended gateway.
Who Is the Best High Risk Processor For Square?
The best high risk payment processor for Square is Zen Payments . They offer merchant account solutions in Square’s banned industries. Moreover, Zen Payments provides customized merchant accounts and terminals that work for numerous business types.
Table of Contents
- - Square High Risk Merchant List
- • Square Prohibited Goods Policy
- - Square Freezes Payments
- • Who Is the Best High Risk Processor For Square?