Acquirers must comply by October 15, 2021 with Mastercard’s extended Specialty Merchant Registration requirements—that aim to crackdown on unauthorized and illegal adult content. According to Mastercard, the updated rules require acquiring banks to “certify that the seller of adult content has effective controls in place to monitor, block and, where necessary, take down all illegal content.”
The new rules stem from the rapid increase in internet accessibility and its easy-to-use content uploading and sharing processes. To put this in perspective, in 2019, an industry-leading adult merchant account recorded 6.83 million video uploads.
These new guidelines place pressure on banks to monitor the rapid influx of adult content being created and sold online.
How to Protect Your Adult Merchant Portfolio
Controlling the vast amount of adult web content will be a challenge for acquiring banks and their partners. As the industry leader in merchant compliance and monitoring, Verisk Financial G2 can help you understand how these new guidelines apply to you and your adult merchants. Our technology-driven merchant monitoring solutions, accompanied by real human data analysis and investigation can help protect your business from card network fines and assessments.
G2 is pleased to be partnered with Internet protection agencies, financial associations, compliance organizations, and over 300 financial institutions worldwide, which enables us to provide superior merchant risk management services for acquiring banks.
Grow your adult merchant portfolio while remaining in compliance by rapidly vetting high-risk merchant account applications. Watch our webinar series—KYC Beginner to Pro for Merchant Acquirers. Learn everything you need to know about Know Your Customer automation technology, critical for any merchant acquirer looking to grow a profitable and compliant higher-risk merchant portfolio.