Dubai is one of the world’s largest physical gold markets, and precious metals trading is about as legitimate a UAE business activity as exists. It is also one of the hardest categories to get card processing for, and the reason is high-ticket AML exposure rather than chargebacks. A single transaction can run into six figures, the goods are liquid and portable, and the sector sits under heavy scrutiny from the UAE’s AML framework and the DMCC’s responsible sourcing requirements.
Acquirers underwriting this category are looking at your AML programme first, your average ticket second, and your dispute history third. Merchants who can evidence DMCC membership, documented source-of-funds procedures and a clear delivery or vaulting arrangement are approvable. Those who cannot are declined regardless of trading history. Below we compare providers that work with licensed UAE precious metals merchants.
What Gold & Precious Metals processors look for
Underwriting for this category is documentation-led. Having these ready before you apply is the single biggest lever on both approval odds and how fast you get a decision.
- A documented AML programme with a named compliance officer
- Source-of-funds and source-of-wealth procedures for high-value buyers
- DMCC membership or equivalent, where applicable to your activity
- Responsible sourcing documentation for the metal you trade
- A clear delivery, shipping or vaulting arrangement, evidenced
- Average and maximum ticket values, stated honestly at application
Frequently asked questions
Yes, with providers that underwrite the category — but expect the AML review to be the substance of the application rather than a formality. Ticket-size limits are common, and many acquirers cap single-transaction values well below what the trade itself would support.
A written AML programme with a named responsible officer, customer due diligence procedures scaled to transaction value, source-of-funds and source-of-wealth checks for high-value buyers, sanctions screening, and a suspicious-activity escalation route. Underwriters read the programme itself, not just confirmation that one exists.
Almost always. Acquirers commonly set per-transaction and per-day ceilings in this category, because a single disputed six-figure transaction is a material loss. Establish the limits before you sign — a rate you like on an account that cannot process your average ticket is no use.
It does, because it gives an underwriter a verifiable third-party reference point on how you operate and what sourcing standards you are held to. It is not sufficient on its own, but bring the documentation to the application.
They want to know the goods actually move as described and that you can evidence it. A documented vaulting arrangement with a recognised operator, or a shipping process with insured tracked delivery and signed receipt, both give the acquirer something to point at if a transaction is disputed. Informal arrangements do not.