Summary (TL;DR): This article outlines the business activities that are either ineligible for an Airwallex account or require Enhanced Due Diligence (EDD) to ensure compliance with global financial regulations.
Procurify financial services are powered by Airwallex, which maintains an Acceptable Use Policy (AUP) based on legal, regulatory, and financial risk. Before your business can utilize Bill Pay or Spending Cards, Airwallex must verify that your industry and business model are supportable. If your business falls into a restricted category, the onboarding team will require additional documentation through a process known as Enhanced Due Diligence (EDD).
Prohibited Industries
The following industries are prohibited from using Airwallex services and cannot be onboarded. These restrictions apply across all regions where Airwallex operates.
Industry Category | Policy Details |
Cannabis-Related | Includes marijuana, THC, and CBD products. Airwallex applies this even where state law allows cannabis because cannabis is not federally legal in the US. |
Unlicensed Gambling | Includes unlicensed games of skill, unlicensed lotteries, and online gambling. |
Weapons & Supplies | Includes manufacturing, sales, and supply of firearms, weapon blueprints, and "ghost guns." |
Adult Content | Includes adult entertainment and related services. |
Financial Crimes | Counterfeit or unauthorized goods, Ponzi schemes, pyramid schemes, MLM, and telemarketing. |
Unlicensed Financials | Unlicensed regulated financial services. |
Predatory Lending | Payday lending and other predatory financial practices. |
Non-Commercial | Transactions with no genuine commercial purpose, such as pooling funds or cashing out stored-value cards. |
Important Note on Cannabis Adjacency: Businesses adjacent to the cannabis industry, such as marketing agencies serving cannabis brands or manufacturers of paraphernalia, may be reviewed on a case-by-case basis. Contact your Procurify Customer Success Manager (CSM) before applying if your business operates in an adjacent field.
Restricted Industries and Enhanced Due Diligence (EDD)
Restricted industries are eligible for an Airwallex account, but require Enhanced Due Diligence (EDD). This means Airwallex will require detailed responses to specific questions and supplemental documentation before approval.
How do I identify a Restricted Industry?
The following list represents common restricted industries for Procurify customers. If your business is listed here, reach out to your Procurify CSM to begin the EDD process.
Video Game Studios: Includes game development and publishing companies. (Note: Licensed casinos and lotteries are also restricted, while unlicensed gambling is prohibited.)
Charities and Non-Profits: Includes NGOs, religious institutions, and political organizations.
Pharmaceuticals & Biotech: Includes nutraceuticals, medical devices, and biotechnology services.
Financial Services: Includes lending, money transfer, FX, portfolio management, and payroll providers.
Professional Services: Real estate agencies, lawyers, notaries, accountants, and trust or company service providers.
Technology Services: Crypto and virtual asset activities, Generative AI, and artificial intelligence services.
Marketplace Operators: The platform itself (e.g., Amazon, Shein), not individual merchants on the platform.
High-Risk Goods: Alcohol, tobacco, nicotine, e-cigarettes, and oil/gas operations (excluding drilling/extraction).
Logistics & Retail: Dropshipping, travel merchants, and delayed-delivery merchants.
How Enhanced Due Diligence (EDD) Works
If your business is in a restricted industry, you must provide a document titled [Business entity name] - Response to EDD Questions in DOCX or PDF format. This document must contain comprehensive answers regarding your company's operations and financial standing.
Request the Questionnaire: Your Procurify CSM will provide the industry-specific questionnaire required by Airwallex.
Detail Business Operations: You must describe your products and services in detail, including who your customers are and how transactions are processed.
Provide Financial Context: EDD often requires evidence of the source of funds, the source of wealth for owners, and total asset values.
Submit Documentation: Upload the completed EDD document during the standard KYC submission step in the Procurify Manage Financial Account page.
Related Features:
Keywords: Airwallex, EDD, Prohibited, Restricted, Cannabis, Gaming, Gambling, Compliance, Onboarding, RFI