Dating Merchant Account
Dating Merchant Account
Today, because of the Internet, finding the newest friends, like-minded people, or fellow travelers of existence in this way is as easy as going to the food mall.
The rapid formation of information technology and global association facilitated almost all the nuances of our existence, in this number as well as the selection of the 2nd half. According to statistics, approximately thirty percent of users of the world network even though b once fond of dating websites.
The online dating industry was born at the end of the 90s of the last century together with individual announcements on websites as well as sample surveys according to hobbies, today This industry is booming, there are thousands of widespread websites as well as add-ons, together with the support of which it is possible to get to know together with the people living in each point of society.
For example, OneAmour, Tinder, eDarling, Topface, Emilydates, Badoo, Loveplanet, Mamba, Jeempo, LinkYou, Pure, Navechno, Rusdate, Insta-Singles, Teamo. According to Forbes, every year about a thousand new online dating industries are formed.
According to speculative information, the profit of the global online dating trade in 2020 will amount to 12.5 billion dollars. One of the main distinguishing features of this industry is considered in this case, that 30% of users stay in the year from 18 to 29 years.
And also with any year the number of people visiting online dating websites is only increasing. In this way, the online dating industry is currently considered one of the fastest-growing and most profitable areas of electric commerce.
Would you like to open an online dating business?
At first glance, the invention of a website or the formation of an add-on for dating may seem like an easy problem, but the strict limited laws and, as a result, the unwillingness of banks and classical economic universities to promote dating services make it difficult to enter the new business.
In addition, the field of online dating belongs to the group of businesses with a high degree of risk (High Risk).
Deception lies as well as other types of scams, media content for seniors, and irritated customers – see the main circumstances according to which the dating industry is dangerous.
Online dating platforms are often used as a cover for illegal business, including escorting and sexual services. In addition, it is necessary to emphasize the high degree of chargebacks.
Certain customers sign up for the service of online dating platforms, however, without finding the perfect candidate for communication, or romantic relationships according to the same or other circumstances, without finding what they wanted to find, decide to request a refund.
A large degree of Chargebacks is unprofitable as well as commercial, as well as economic institutions, for this reason, banks often reject the invention of a lot.
If your dating service needs a reliable payment gateway, then you should choose a specialized merchant account (Dating Merchant Account), with which you can quickly and efficiently accept credit and debit card payments and protect your customers from fraudsters.
All payment transactions made using bank cards are determined by four-digit MCC codes, depending on the type of activity of the seller. Dating operations are carried out under a separate MCC code 7273, it is intended for companies providing online dating services using websites and applications, including through computers, mobile devices, and video services.
Open the Dating Merchant Account at Wellcoinex
We offer customized and reliable payment solutions for high-risk businesses, including online dating. The most common ways to monetize the online dating market are a subscription to premium membership, payment for additional features, in-app purchases, virtual gifts, or premium content.
Depending on your needs, you can connect one or more payment methods and accept payments from debit and credit cards, Visa, Master Card payment systems, etc. In Wellcoinex you will get a reliable payment gateway that will ensure a fast payment process and take your business to a new level!
Applying for The Best Online Dating Merchant Account
Applying for a dating trading account is very interesting because it means that you expect sales shortly. However, not all payment service providers are the same, so a thorough study should be carried out before choosing a processor.
Fortunately, choosing a payment service provider doesn’t have to be a monumental task, as you can easily compare them online before applying.
If you decide to use Corepay services, we will make this process as simple as possible. After you submit an application and receive internal preliminary approval of a trading account for high-risk enterprises, a Corepay Customer Service manager will be assigned to you.
Your manager will accompany you throughout the application process and answer any questions. Our goal at Corepay is to make the process of applying for a trading account easy and transparent.
Below is a list of some subtypes of the dating industry that Corepay serves; all of them fall under the Merchant Category Code (MCC) 7273.
How Long Does It Take to Get Approved for A Dating Merchant Account?
The approval period for dating trading accounts may vary; however, at Corepay we strive for quick approval, and in some cases even on the same day.
Although the approval period depends on several factors, the industry’s standard deadline is usually three to seven days.
To some extent, it also depends on how prepared the trader is. If you have everything you need when contacting a payment processor, this can significantly speed up the whole process.
Dating Merchant Account Fees
When opening a trading account with a high degree of risk, the commissions may be different. Since the dating system is considered high-risk, most likely you will pay more than when opening a regular trading account.
However, at the same time, you will be able to safely conduct more transactions without fear of account closure and subsequent withholding of funds.
To save transparency Corepay does not want commissions due to application/setup as well as excessive commissions due to premature termination of the agreement.
Online dating fees due to payment processing can reduce your income. Our goal is to guarantee an easily accessible cost as well as provide a microprocessor-directed service that meets the needs of your trader’s needs for dating.
How to Setup an Online Dating Merchant Account
To disclose the commercial result with the purpose of online dating, you should realize the effects shown above. The order submission process as well as the options depends on this or the payment service provider you prefer.
In the Corepay company, I realized everything without exception is permissible, so this move was extremely simple and problem-free.
This includes not only the order submission process but also the support in the integration of the trader’s number together with your payment gateway, as well as providing the ability to start instantly after the consent has been obtained.
Having acquired consent and properly integrated the result, you will be able to proceed to process payments for your own online dating business.
The utilization of a trader’s immense together with a big notch is then what all websites as well as dating add-ons are obliged to do to process payments.
In case your website becomes improved and you have difficulties together with certain payment processors, this can provoke frustration and tension, as you will need to not only wait for the income of money but also find a solution to the difficulty of the high notch.
Why Corepay Is Your Perfect Match
Corepay is well aware of the online dating industry, having many years of experience working with high-risk trading accounts. This means that we understand the risks associated with the online dating industry, and at the same time we always offer our clients personalized service and security.
We at Corepay want to help you get approved, stay approved, and grow your dating business the way you dreamed.
FAQ
What is a merchant account?
The commercial result is a type of banking facility that allows companies to make payments according to debit or plastic cards. The data are disclosed based on the contract between the trader and the acquiring bank to perform settlements according to operations with payment cards.
Which credit cards can I accept with my merchant account?
Your commercial result will have the probability to carry out all without exception the main plastic card game, including Visa, MasterCard, Discover, American Express, JCB, and in addition without exception the most famous Alipay and WeChat.
How long does the approval process take?
After filling the Corepay order as well as providing absolutely all the required paperwork, almost all merchants have all chance to acquire consent within 24-72 times, including in the most dangerous sectors of the economy.
Does Corepay work with merchants who have little or poor credit?
Of course, Corepay functions together with merchants, which nowadays period in no way possess a strong plastic base or in no way possess a plastic event.