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Online dating merchant processing

Online Dating Merchant Accounts: Complete Guide To Finding Your Match,Pandemic Sparks Revival of Online Dating

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Suppose you want to show customers that you have a legitimate online business. In that case, it is imperative that you get approved for a merchant account and accept credit payments with it directly. A traditional business will apply at a bank for a merchant account. Because online dating businesses have been deemed a high-risk industry. Either way, it is a no-win situation for your dating business.

If you have trouble finding a bank, you can seek help from us. We have partnered with banks in multiple countries throughout the world.

Some of the two biggest high-risk online businesses are online casinos and online dating. These types of businesses have the longest track record of customer chargebacks. A chargeback is when a customer pays for a service but then changes their mind about wanting it. The customer always has the right to a refund in most of these cases. IntegralPay puts the needs of its customers first.

We can even find the best bank to host your merchant account if necessary. That way, you can avoid the hassle of getting rejected by various banks.

We know how to work around these issues to get your account approved. One of the best ways around these issues is to set up an offshore merchant account. Not only do these accounts offer more payment solutions, but you can also pay fewer taxes as well. The best part is that your offshore merchant account can accept international credit card payments from many different payment solutions and currencies used worldwide.

One popular way to make money with an online dating business is to set up recurring billing for your customers. Recurring billing is supported by our payment gateway. IntegralPay does everything possible to protect against fraudulent payments and chargebacks. We have solutions, such as Visa Merchant Purchase Inquiry VMPI , to prevent these situations from happening to your merchant account. IntegralPay tries to be as flexible as possible with our clients.

We consider each application based on the circumstances of the business owner. You will receive fair treatment throughout the review process.

Get started with your online dating merchant account now! Do you have questions about our review process and merchant account eligibility requirements? If so, contact our team to have all your questions answered. MCC Codes, short for Merchant Category Codes, are four-digit numbers that are used to categorize….

Online casinos depend on credit card payment processing for their survival. Credit card payments allow…. Your email address will not be published. When this happens, it can be extremely harmful to a business as they can no longer process payments. Assuming a compliant merchant, the most common reason for this is that most processors specialize in low-risk payments and do not understand high-risk merchant accounts. These companies can choose to terminate your account immediately and hold your funds for the chargeback liability period — at least days.

Should this have happened to your dating business, Corepay would love the opportunity to earn your business. When opening up a high-risk merchant account, fees will vary. Since dating is considered high-risk, it is likely you will pay more than a typical brick-and-mortar account.

However, you will also be able to safely process more transactions with less fear of account closure and then having funds held. Online dating Payment processing fees can dilute your profit margins. Our goal is to make sure your pricing is affordable and with a service-oriented processor that meets the needs of your dating merchant account. If you are an online dating app without an actual website, you will still likely fall into a high-risk category. You will therefore be processing hundreds to thousands of CNP transactions daily.

Like online dating websites, apps will need to process credit cards reliably, without the fear of having their merchant accounts terminated. It is common for dating apps such as Tinder , Match , PlentyofFish , and Bumble to experience many chargebacks. Because of this, these apps tend to fall into a high-risk category.

These businesses, with less experience and economies of scale, are more likely to have their merchant accounts terminated. If you are an up-and-coming dating app, make sure that your payment service provider specializes in high-risk merchant accounts.

Online dating is most popular in the United States, with approximately 49 million people subscribing to dating websites in the year This equates to a population penetration rate of Spain follows the United States with a Below is a breakdown of online dating revenue generated per country. While online dating is certainly growing in India and China, it is worth noting that the percentage of the population using these services is still rather low. As a result, we see a high potential for growth in these two countries in the coming years.

To set up an online dating merchant account, you will need to follow the steps above to apply. The application and setup process will vary depending on which payment service provider you choose. At Corepay, we do as much as we possibly can to make this a streamlined and seamless process.

This includes not only the application process but assistance in integrating the merchant account with your payment gateway and ensuring that you are able to go live immediately after being approved. Once you are approved and properly integrated, you can begin processing payments for your online dating business.

Getting started with a high-risk merchant account is something all dating websites and apps should do for processing payments. If your website starts to take off and you run into some problems with certain payment processors, it can be frustrating and stressful as you will not only have to wait to see funds , you also will have to figure out a high-risk solution.

Corepay knows the online dating industry exceptionally well, having many years of experience in high-risk merchant accounts. This means we understand the risks associated with the online dating industry, while always offering bespoke service and security for our clients.

At Corepay, we want to help you get approved, stay approved, and grow your dating business into everything you dreamed. Fast approvals and secure merchant processing solutions are imperative to this lucrative industry.

Online dating services hold loads of personal information that must be properly protected. Give your users the confidence of security and anti-fraud solutions when using our platform, without setup or application fees.

population using online dating services, fast and secure payment options for signups and subscriptions are vital to business. With Corepay, bid-adieu to virtual checks and the limitations of traditional payment aggregators. High chargebacks are common in online dating communities due to recurring subscription models, customer dissatisfaction claims and privacy conflicts.

Corepay is experienced in preventing fraud and reducing chargebacks for your high-risk business. We offer detailed business analyses and solutions to reduce your costs, while working to ensure that your customers are happy with your offerings.

Ready To Start Accepting Payments? Find your match with Corepay. Online Dating Merchant Accounts: Complete Guide To Finding Your Match Table of Contents 1 Applying For The Best Online Dating Merchant Account 2 Why Are Online Dating Merchant Accounts Considered High-Risk?

Get Pre-Approved Now. Start Processing Payments Now. Online dating websites should partner with a payment service provider that makes security their priority Corepay has a PCI-Level 1 secure payment gateway monitored around the clock, regularly tested for security issues Our gateway, Solidgate , was built to support high volume and high-risk merchants specifically.

There is full payment tokenization, which guarantees a high level of encryption and is particularly useful for recurring payments. Thus, customer data does not need storing in a separate, more cumbersome fashion, automatically adding more flexibility for merchants. Get Pre Approved Today.

Help Grow Digital Connections. High-Chargeback Thresholds High chargebacks are common in online dating communities due to recurring subscription models, customer dissatisfaction claims and privacy conflicts. Frequently Asked Questions Can Corepay assist my business with accepting Alipay and Wechat?

Does Corepay offer contactless PoS equipment in the USA? What is Order Insight by Verifi and is it right for my business? What is a chargeback ratio?

There are no two ways about it. Merchant account providers view online dating sites as high risk. This post will walk you through the reasons why many customer actions have tarnished this industry before laying out a strategy for obtaining an online dating merchant account so you can process those all-important credit card payments as well as other online payment methods.

Before the coronavirus forever altered our lives, online dating and dating apps were suffering. It appeared online dating fatigue was taking hold as downloads for the top 15 matchmaking apps continued to shrink globally into the start of However, that all changed when the pandemic struck in March Suddenly, with everyone forced to remain indoors under stay-at-home and shelter-in-place orders, the need for companionship and intimacy trumped the drawbacks of online dating that many sighted.

Suddenly dating companies witnessed huge swells in the number of users. For apps, the launch of video chat technology revolutionized their offering. Suddenly there were none of the usual worries surrounding the first date. There was no anxiety over whether to split the bill or kiss their perfect match, for example. Users could suddenly schedule an evening of several dates, changing the online dating offering entirely.

As a result of the events of , the size of the global online dating market is expected to grow at an improved Compound Annual Growth Rate CAGR of 8. The favorable market conditions have caused a huge spike in the number of businesses launching online dating websites. But the process is not easy. The industry suffers from several pitfalls that have seen it labeled as higher risk by underwriters and risk assessors working for acquiring financial institutions. There are plenty of myths circulating in the online dating industry.

However, what has been proven is that chargebacks are high in this industry. Catfishing, ghosting, bots, and even reports of dates attacking one another are just a few of the reasons behind the soaring chargeback rates. Other issues include the monthly rebilling business model that so many of these sites favor.

Churning customers often issue chargebacks out of laziness and convenience rather than canceling their subscriptions in the proper manner. Online dating sites are often used by married men and women, presenting a huge chargeback risk.

When a spouse discovers online dating charges on credit card bills or debit account statements, the cheating spouse will claim fraud and initiate a chargeback to avoid being caught. High-risk businesses in any vertical are already closely monitored for high chargebacks. Despite being a lucrative market, new online dating businesses can all but forget securing a merchant account through traditional providers.

Instead, they have to work with specialist high-risk merchant account providers to obtain credit card processing solutions for their e-commerce sites. Do you operate an adult dating site or hookup app? Want to know how to protect and improve your payment processing options?

Then read our ultimate payments guide for adult dating and hookup sites! Despite being a tricky industry to secure payment processing in, there are several steps you can take to impress merchant account providers assessing your application.

The first of which is building up your processing history. The best way to convince financial institutions and underwriters assessing your business that processing your payments is worth the risk is by handing over your processing accounts. A long and detailed processing history will allow them to perform a deep analysis. Impressive sales figures will also tempt those evaluating your business for risk. One of the best ways to build up a processing history without a credit card processing solution is to utilize alternative payment methods such as ACH and eCheck.

This allows you to build up a processing history without incurring a track record of high chargebacks. One of the biggest issues leading to chargebacks is pricing. Different online dating businesses fall into different categories. Some offer a monthly subscription for matchmaking, whereas other charge an upfront fee for dating coaching.

Both business types have issues. Monthly rebill businesses often start with a free trial that causes issues with freeloaders looking to use the service with no intention of ever paying. When the trial runs out, and they get charged, rather than approach you and ask for a refund, they usually issue a chargeback out of anger. They are often red flags to acquirers operating in this niche.

Similarly, can you bundle monthly payments into one reasonable upfront fee to avoid the well-known chargeback issues associated with subscription business models? For dating products and services that charge large upfront fees, can you think of a way to offer a lower first payment for a product or service with a smaller scope?

Once you have built trust with the client, you can then charge much more for the full program or service. Online and adult dating apps need to put compliance at the top of their priority list. Especially given what is at stake. As highlighted already, many of your customers will be using your products and services secretly. Failure to encrypt and protect their data could lead to a fatal wave of complaints and chargebacks. Next, you need to ensure that both the personal and financial data you collect is safe from outside interference.

This means ensuring your website is PCI DSS compliant. Many payment gateway solutions will take this burden off your shoulders, and you can check with your web developer what the best solution is for your specific site. Remember that dating is strictly plus, which means you need to have the procedures in place to satisfy acquirers that you are running a reputable online dating business. Asking for a scan of a governmental ID is a great practice. Firstly, it proves a customer is of appropriate age.

Secondly, when a customer uploads their ID in order to access your service, it makes it much harder for a customer to issue a fraudulent chargeback. Similarly, another great practice to reduce chargebacks is to offer simple terms for cancelation. A customer should be able to cancel their subscription within a few clicks of the home page. Ambiguous refund policies and making it difficult to leave your online dating service will lead to high chargebacks from frustrated customers.

There are many tools you can use to lower your chargeback and fraud levels down to acceptable levels. Firstly, talk to your payment gateway provider about implementing 3DS2. This new version of anti-fraud software analyses hundreds of data points in less than a second to decipher whether a transaction is likely fraudulent. You can sign up for additional services such as Ethoca and Verifi to help to stop fraudulent chargebacks in their tracks before appearing on your merchant account.

The online dating industry has received a shot in the arm and will continue to grow rapidly beyond However, securing a dating merchant account is not easy.

Here at DirectPayNet, we are the high-risk merchant account experts. We have helped hundreds of merchants in the high-risk dating niche secure better payment processing, lower fees, and lower reserves.

We take our decades of industry knowledge, apply it to your business, and secure solutions that help your business scale in high-risk industries.

So what are you waiting for? Contact a member of our friendly team to arrange an initial consultation for your high-risk dating business today! As President of DirectPayNet, I make it my mission to help merchants find the best payment solutions for their online business, especially if they are categorized as high-risk merchants. I help setup localized payments modes and have tons of other tricks to increase sales! Prior to starting DirectPayNet, I was a Director at MANSEF Inc.

now known as MindGeek , where I led a team dedicated to managing merchant accounts for hundreds of product lines as well as customer service and secondary revenue sources. I am an avid traveler, conference speaker and love to attend any event that allows me to learn about technology.

I am fascinated by anything related to digital currency especially Bitcoin and the Blockchain. Share HIDE. Maria Sparagis As President of DirectPayNet, I make it my mission to help merchants find the best payment solutions for their online business, especially if they are categorized as high-risk merchants.

Adult Content Creators Using Cash App — Pros and Cons.

Online Dating Merchant Account,Ready To Start Accepting Payments?

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As highlighted already, many of your customers will be using your products and services secretly. Adult Content Creators Using Cash App — Pros and Cons. Recognizing and Reducing E-Commerce Fraud. However, a truly professional dating website will not make PayPal their only payment gateway option. IntegralPay does everything possible to protect against fraudulent payments and chargebacks. There are no two ways about it.

However, what has been proven is that chargebacks are high in this industry. This is usually due to the potential of having nudity on the dating site, which is typically the defining characteristic of an adult-coded merchant. Maria Sparagis As President of DirectPayNet, I make it my mission to help merchants find the best payment solutions for their online business, especially if they are categorized as high-risk merchants. Our team is dedicated to providing innovative solutions online dating merchant processing unparalleled customer service. I help setup localized payments modes and have tons of other tricks to increase sales!

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