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Thread: Strippers accepting credit cards?

  1. #1
    Veteran Member aperfectseal's Avatar
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    Default Strippers accepting credit cards?

    https://squareup.com/
    Has anyone seen or heard of this?
    Last edited by aperfectseal; 08-16-2014 at 09:32 AM.

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    Featured Member miss1dancypants's Avatar
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    Default Re: Strippers accepting credit cards?

    thank you for sharing this!!!

    idk how it would work in the club but DEFINITELY would be good for private parties. when i did private parties it was all cash only and it would suck if they ran out of cash and there wasn't an ATM close by.

    i'm definitely gonna bookmark this for future purposes!!

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    Banned Melonie's Avatar
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    Default Re: Strippers accepting credit cards?

    ^^^ absolutely not happening for exotic dancers / escorts etc. !!! Or at least not happening 'as advertised'. The underwriting US banks behind credit card processors have categorized all 'adult' businesses as being a 'high risk' ... for customer payment refusals / chargebacks, for 'fraudulent' charges against 'stolen' credit cards etc. If you check the fine print, you'll find that none of the mainstream mobile credit card processors will accept new 'merchant account' applications from an 'adult' business ... and particularly not from an 'adult business' applicant who does not have a brick and mortar business address !!!

    There are a few specialty credit card processing services that WILL deal with 'adult' businesses ... such as in conjunction with . But they will still want to see past years' tax returns, a brick and mortar business address etc. And it goes without saying that the processing 'fees' are likely to involve $500+ annual fees, plus probably a 15-20% 'cut' of all credit card transactions, in order to hedge themselves against the much higher incidence of payment refusals / chargebacks, fraudulent charges etc. that are statistically going to occur.

    As a side note, the IRS and state income tax agencies may receive automatic notification of the creation / existance of 'adult' business merchant accounts with an offshore charge processing bank, which could in turn prompt further 'investigation' of the account holder !

    ~
    Last edited by Melonie; 05-14-2011 at 01:58 PM.

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    Veteran Member babylovexxx's Avatar
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    Default Re: Strippers accepting credit cards?

    melonie is on point. if any of you have worked in a club that has club funny money for credit cards and have gone the the countless signing of papers and possibly even fingerprinting in some places, you must know they dont go through this trouble for no reason, its for the safety of the "high risk" transaction, and to make sure the charge will hold up if it happens to be contested in anyway, which happens ALL THE TIME, the night after a man who swiped a couple grand on your "phone app" will just cancel the card report it stolen, claim to be coerrced or under the influence, drugged, whatever, what proof will you have of his willingness to the transaction?


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    Default Re: Strippers accepting credit cards?

    You may want to look at this other thread I started awhile back:

    http://forum.stripperweb.com/showthread.php?t=144864
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    Veteran Member peachplumpear's Avatar
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    Default Re: Strippers accepting credit cards?

    I'm curious about this too, on my 3rd iphone currently...I wanna make this baby work me!

    maybe if you can cash it out fairly quick? Like withdraw immediately if you're worried about one big charge. Though I imagine it wouldn't be for every little $20, $40 or whatevr, just the large amounts that people don't have on them. I also would not reveal the nature of services provided. I will perhaps start an llc or sole proprietorship that does "image consulting" because that can be an esoteric sort of dollar value for esoteric services provided. And in a way, for tax purposes, it's not bending the truth all that much. Guys like how they look and feel with a hot naked chick, I'm consulting with them to help them have this improved image feeling.

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    Default Re: Strippers accepting credit cards?

    We take credit cards at my club though and noone has complained. If its a substantial amount we take copies of their ID too, but there's never been a problem. Even the guy that we rinsed for €30000 who came back in the next night with memory loss and accused us of spiking his drink.

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    Banned Melonie's Avatar
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    Default Re: Strippers accepting credit cards?

    what if you came up with your own contract? And got contact info, etc?

    It seems like this might work better than SC ATMs because your iphone wouldn't be labeled a "high risk" ATM like the SCs are. So there would be a higher chance of it being accepted.
    Let's try this again. In order for ANY business to transact credit card charges, they MUST HAVE a credit card merchant account with a commercial bank. Before approving such an account, the commercial bank is going to REQUIRE information about that business ... i.e. the nature of the business, the brick and mortar assets of that business, the past financial history of that business etc. The reason the bank will require this information is that they must operate under regulatory mandates as well as bank policy regarding 'loss risk'.

    The credit card underwriting banks have statistically determined that 'adult' businesses typically exhibit very high rates of refused charges / chargebacks, very high rates of fraudulent transactions etc. Also, 'adult' businesses such as websites and escort agencies have a past history of simply 'disappearing' when banks have attempted to recover chargebacks of customer credit card money that the bank has paid out to the 'adult' business but which the customer refuses to pay ( leaving the bank with a big fat loss ). As such, if the banks choose to approve a new 'adult' business credit card merchant account at all, they are also going to require terms that minimize the banks' loss risk. These terms typically include 30-60-90 day 'holdbacks' before 100% of customer credit card money actually becomes available for payout to the 'adult' business ( to give refused / fraudulent charges a chance to be identified and taken from the 'held back' merchant account balance of the 'adult' business instead of requiring a chargeback ) as well as charging hefty service fee percentages of 15%-20% ( to cover the bank's costs of dealing with refused / fraudulent charge resolution ).

    The fact that new technology now allows credit card processing via mobile phones does NOT alter the basic requirement of having a credit card merchant account. Nor does it alter the criteria used by credit card underwriting banks for approving new credit card merchant accounts. This is the reason that the specialty 'adult business credit card' services I posted above are now resorting to using offshore banks ( which are exempt from US banking regulations ) as an 'end run'.

    ~
    Last edited by Melonie; 05-15-2011 at 09:57 AM.

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