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Prohibited and Restricted Products and Services List

To maintain legal compliance and the integrity of our banking partnerships, LetPay provides a transparent list of restricted industries for merchant accounts. While we are a gateway specializing in high-risk, the following services and product categories are strictly prohibited from using our platform.

Finance related:

  • Shares and other securities traded exclusively on the domestic and international stock exchanges, as well as any other banking and fi nancial products or services, securities and fundraising
  • Coins and banknotes, as well as any instrument of pecuniary value, counterfeit or imitation
  • Foreign currency
  • Products or services that involve travelers’ money exchange or check cashing
  • Products or services related to fi nancial pyramid schemes, “make easy money” or “get rich quick” schemes
  • Tiered marketing programs featuring pyramid schemes
  • Products or services that involve certain debt settlement services, credit recovery services, credit transactions or insurance activities.
  • Products or services that are for sale before the seller has control or possession of the product
  • Products or services that are associated with the sale of travelers checks or fi nancial orders
  • Lay-away systems, banks or offshore transactions to fi nance or refi nance credit card debt
  • Credit or debit card offer, active or not, and related services
  • Factoring
  • Products for capture, memorization and storing of credit card transactions

Privacy and copyright related:

  • Databases and mailing lists that contain personal data and information to individualize a person
  • Unauthorized copies of music, video, audio or any other product
  • Hacking and cracking or any devices such as books, data CDs, tools or programs designed to introduce viruses or hack websites or electronic devices
  • Products intended to open locks or to break into places
  • Products that infringe copyright, trademarks, patents, industrial designs, trade or industrial secrets, internet domains, trade names, or any other intellectual property rights in any country
  • Products designed to change, duplicate, modify or replace cellular phone equipment
  • Products showing third party personal information in violation of
    applicable law
  • Antennas, set-top boxes or any devices designed to decode cable,
    antenna or satellite TV broadcast signals
  • Any tool or software designed to send junk email (SPAM)
  • Diplomas and certificates
  • Compilations that offer programs extracted from a certain source on
    the same support
  • Products that are or may be confused with official personal documents,
    as well as machinery and tools for manufacturing such documents or
    services such as personal document management

Medical and animal related:

  • Narcotics, toxics, hallucinogenic substances, as well as materials for their use or any other related material
  • Organs, tissues, limbs and products of the human body
  • Anabolic Substances and Steroids
  • Controlled substances and/or other products that pose a risk to consumer safety
  • Cigarettes and tobacco in general
  • Animals (except dogs, cats, fish, cattle, pigs, horses, non-wild birds, rabbits, goats, rodents) as well as their organs, limbs and skin
  • Controlled Pesticides and Insecticides

Violence related:

  • Fireworks or any other explosive material containing powder or considered dangerous
  • Ammunition, firearms or certain firearm parts or accessories
  • Certain weapons or knives regulated by the relevant law
  • Flamethrowers, lethal gases, mustard gas, tear gas and explosives in
    general

This list of restricted industries for merchant accounts is subject to change based on new regulations. If your business is not on this list, or if you have questions about your specific vertical, please contact our compliance team. You may also review our full Terms & Conditions for more information.

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Disclaimer!

The information provided in this document/website is for general informational purposes only and does not constitute tax, financial, or investment advice.

No representations are made regarding the tax, financial, or investment consequences of any actions taken based on the information provided.

Readers are advised to seek the services of a qualified tax professional, financial advisor, or investment advisor to address specific questions or concerns.

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