Online Dating Services Merchant Accounts
Accept Credit Cards with an Online Dating Merchant Account
Over the last several years, online dating services has become one of the quickest growing industries. With 24% of young adults and many older groups claiming to use apps such as Tinder, it’s easy to see why the industry brings in over $2 billion in revenue every year with 5% growth every year for the last 5 years. Now, more so than ever before, entrepreneurs have been seeking to invest and develop businesses inside the adult dating industry. Contact Leap Payments to manage your adult dating merchant account if you have wanted to start up in the online dating industry. Leap Payments offers complete online dating merchant accounts that are specifically designed for credit card processing options for online, in-app, or even at a brick and mortar location.
Obstacles Facing the Online Dating Industry
Although the industry has seen huge growth, banks and lenders continue to see the adult oriented nature of online dating as a risk. Just like adult dating service companies have rules and regulations, so do the providers of merchant accounts. Even if you are established with lots of transaction history, finding a processor that has a bank willing to work with a high-risk business can prove difficult. Financial institutions have labeled adult online dating businesses as high risk for reasons including:
- High Chargeback Rates
- Adult Themed Content
- Strict Laws and Regulations
- Buyer’s Remorse
Chargebacks and disputes can occur when a customer forgets to cancel a subscription, doesn’t find anyone in the dating pool or after they find a compatible match. Other risks include merchants who use their website as a front for money laundering or even to promote illegal prostitution. Leap Payments can get your account started quick and easy, regardless of the tendency for institutions to lean away from this online industry.
Leap Payments Approves Adult Dating Merchant Accounts
Signing up for an adult dating merchant account at Leap Payments is simple. You can rest assured that your rates will never increase for the entire lifetime of your partnership at Leap Payments with our Lifetime Rate Lock guarantee. Get customized credit card processing solutions specifically to meet your business needs. Help reduce the risk of chargebacks to your online dating company with safe and secure gateways.
Our 100% U.S. based customer support team is ready to help you, one on one, whenever you need us. Get assistance with account questions, advice on credit card readers and to set up your online credit card processing account. Learn more by contacting a Leap Payments online dating representative today.