- January 23, 2020
- Posted by: admin
- Category: Merchant account for dating and escort services., Online Dating Merchant Accounts
Online Dating Industry is categorized as a ‘High-Risk’ business by Merchant Account providers for Payment Processing. This is mostly due to the high volumes of transactions, chargebacks, frauds and highly regulated legal frameworks. So, it is really important to find a Merchant Account service provider who understands the complete dynamics of the industry, its compliance regulations, legal aspects, disputes, and frauds.
In this fast-paced world with little time left to socialize, no wonder the singles need an alternative way to mingle. Online dating, first introduced as personal ads in the 90s, has seen a massive surge with the appearance of dating websites and apps.
WHY YOU NEED A MERCHANT ACCOUNT?
Dating is a high volume industry that can turn unbelievably incredible profits. This industry is also considered high risk because of certain facets associated with it. Businesses such as dating websites are known as a high risk not because they don’t make money, but because they rely on just monthly payments that only come after a trial membership which seems risky. That’s why a high-risk merchant account is essential. It’s available in any country Europe, UK, US, etc
Domestic and international banks may most likely take a more conservative approach to your merchant account and charge exorbitant fees. When you set up your merchant account with iPayTotal, we don’t judge what risks are associated with your business because we have the required tools to create an ideal payment processing solution for you while providing low rates and pricing. Also, we provide recurring billing options, unlimited processing, and multi-currency features.
What is dating site merchant account?
We all know we are aware of top dating sites and apps like Tinder, Bumble, Match.com, Happen, etc. Since online dating is a really popular trend, many Offshore payment service providers offer credit card processing to this industry. However, some do not prefer working in this industry because of few factors like High Chargeback Ratio, reputation damage and the tendency of some fake merchants. There are various types of online dating merchant accounts, from the unique niche-based business models to monthly and yearly membership and subscription billing, iPayTotal can provide a payment processing solution for your company. We’re here to provide an array of services for your online dating merchant account for the following business types:
- Adult Dating Websites
- Dating Websites for Seniors
- Dating Sites in Geographic Locations
- Race and Culture Specific Dating Websites
- Religious Dating Websites
- LGBTQ Dating Websites
Why are Online Dating Merchants considered high-risk?
Many banks will not accept online dating merchants due to the industry’s higher-than-average number of chargebacks. An entrepreneurial start-up company, that has just created a mobile app or online dating site, may not anticipate the risks involved in working with consumers whose sometimes unrealistic expectations about finding a perfect relationship can increase the likelihood that they initiate a chargeback or default on a recurring subscription payment due to personal disappointment or inability to pay.
Our online dating services:
- Offshore Accounts. iPayTotal provides online dating merchant accounts for offshore businesses. We also provide payment getaways and credit card processing for offshore businesses all across the world. In few cases, you may need to provide transaction processing history; especially when you need credit card processing and online dating payment gateway.
- Offshore Dating Website. Just like any other merchant account, iPayTotal is committed to providing the best merchant solutions to offshore start-up merchant websites. We help several start-ups gain ground by providing several payment getaways including instant credit card processing solutions. We can help you verify the authenticity of your business in a really short span of time and get you your online dating merchant solutions in just a few business days.
- Virtual Check Solutions for online dating merchants. You can also use our virtual terminal check solutions to help you run your business smooth and hassle free. We are committed to helping you find a payment solution that is suitable for your clients. If you need check processing for your online dating business, we can help you find the best virtual check processing you need.
Find your perfect match:
Online dating is an ever-expanding market, so companies that want to run a dating website need to find the perfect payment processor and a dating merchant account that will enable them to accept card payments securely.
All the given knowledge will simplify you making a perfect match with the right dating payment gateway and provide users with a unique experience.
Are you looking for a reliable dating payment gateway? Contact iPayTotalfor pre-approval.