Restricted Merchant Categories

Prohibited

• Third-party MSBs
• Shell companies
• Cigarettes, tobacco or e-cigarettes
• Firearms, ammunition, gun parts, or fireworks
• Adult products and services (including books, videos, toys, and sexual enhancements)
• Counterfeit goods or replicas
• Devices designed to block, jam, or interfere with cellular or communication signals
• Lottery tickets
• Marijuana, related products, services, and businesses
• Dietary and weight loss products
• Exotic animals
• Precious stones and metals (including rare earth minerals)
• High-end art
• Used watches, books, or other high-priced items where the chain of custody cannot be verified
• Illicit gambling, gaming, or casinos
• Cannabis and cannabis-related products

Restricted

• Prescription drugs
• Used automobiles

Important notice

The industries and business activities listed above are considered prohibited or restricted by Cedar. Customers operating in a restricted industry or engaging in a restricted business activity may be considered for approval on a case-by-case basis and only with prior written approval from Cedar Compliance.

Cedar determines whether an industry or activity is prohibited or restricted based on a range of factors, including, but not limited to:

• applicable laws and regulations;
• the requirements of our payment partners;
• the compatibility of our payment rails;
• Cedar's risk appetite; and
• potential regulatory, financial crime, operational, or reputational risks.

This list is not exhaustive and may be amended at any time without prior notice to reflect changes in legal or regulatory requirements, partner obligations, payment network rules, or Cedar's internal risk assessment. Cedar reserves the right, at its sole discretion, to reject, suspend, delay, or terminate any transaction or customer relationship that is determined to involve a prohibited or restricted activity or otherwise presents an unacceptable level of risk.