Dating Merchant Account

Nowadays, thanks to the Internet, making new friends, like-minded people or a life partner is as easy as going to the grocery store. The rapid development of information technology and worldwide integration have facilitated many aspects of our lives, including the search for a soul mate. According to statistics, about one third of users of the world wide web have at least once been interested in the services of a dating site.

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The online dating industry began in the late 90s with personal announcements on websites and interest polls, today this industry is booming, there are thousands of popular sites and applications with which you can meet people living anywhere in the world. For example, OneAmour, Tinder, eDarling, Topface, Emilydates, Badoo, Loveplanet, Mamba, Jeempo, LinkYou, Pure, Navechno, Rusdate, Insta-Singles, Teamo. According to Forbes, about a thousand new online dating services are created each year.

According to analytical data, the revenues of the global online dating market in 2020 will amount to $ 12.5 billion. One of the main features of this industry is that 30% of users are between the ages of 18 and 29. And every year the number of people visiting online dating sites is only growing. Thus, the online dating industry is one of the fastest growing and most profitable e-commerce industries to date.

Would you like to open an online dating business?

At first glance, opening a website or creating an online dating application may seem an easy task, but strict restrictive laws and, as a result, unwillingness of banks and traditional financial institutions to cooperate with online dating services make it difficult to enter a new business. In addition, the sphere of online dating belongs to the category of business with a high level of risk (High Risk). Fraud, fraud and other types of fraud, adult content, unsatisfied customers are the main reasons why the dating industry is considered risky. Online dating platforms are often used as disguises for illegal business, including escorts, and sexual services. In addition, it is worth mentioning the high level of chargebacks. Some customers subscribe to the services of the online dating platform, but do not find a suitable candidate for communication, love relationships for one reason or another, not finding what they were looking for, decide to request a refund. High chargebacks are disadvantageous for both business and financial institutions, so banks often refuse to open an account.

If your online dating service needs a reliable payment gateway, then you should choose a specialized merchant account (Dating Merchant Account) with which you can accept credit and debit card payments quickly and efficiently 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. Transactions in the field of dating, take place under a separate MCC code 7273, it is intended for companies that provide dating services on the Internet using sites and applications, including through computers, mobile devices and video services.

Open the Dating Merchant Account at Wellcoinpay

We provide individual and reliable payment solutions for high-risk businesses, including online dating. The most common ways to monetize the online dating market is to subscribe to a premium membership, pay for additional features, in-app purchases, virtual gifts or premium content. Depending on your needs, you can connect one or several payment methods and accept payments from debit and credit cards, Visa, Master Card payment systems, etc. At Wellcoinpay you will receive a reliable payment gateway to ensure the fast payment process and take your business to the next level!

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