Account california dating merchant online
But, one of the biggest problems comes when you are looking for a merchant account.
If you have previously owned a business, you know that business merchant accounts are essential for accepting credit card payments – which is essential to having an online dating website.
The lack of options available for online dating websites is large – thanks to the processing industry classifying it as a “high risk” industry.
“High risk” meaning that it is at a higher risk of chargebacks, which we all know are damaging to a business.
Durango or Payline Data), and they’ll definitely be able to help you out.
The first thing that you need to understand is that while one provider might consider you high risk…another may not.
The wrong merchant accounts for online dating websites are one of the reasons many startups fail.
Below, we have a list of the major things you want to look for when taking payments online.
You know, of course, that a merchant account is needed, but do you know they're not all the same?
If the guidelines are relaxed, then you’ll have yourself a merchant account. Furthermore, if the provider you apply to specializes in high risk merchant services, then you’ve already won the battle. BUT, keep in mind that there are some providers that don’t specialize in high risk, but still have relaxed guidelines (i.e. A word of caution…Don’t skimp on reviewing the details of your contract. There are a number of reasons why a provider would consider your business as high risk. As I mentioned above, some providers are more risk averse than others.
For every 1 ethical and reliable high risk processor, there are about 325 unethical ones that are just waiting to take advantage of you. Most high risk processors want some sort of reserve so they can cover their own behind should you close up shop, get a crazy amount of chargebacks or commit some sort of fraud. Maybe your industry is known for having a high instance of chargebacks or fraud. They don’t want to deal with any business that may pose a bigger threat of losing them money, so they avoid those business types altogether.