When you start to look for services, like a merchant account, you suddenly realize the banks, who were jumping through hoops to get your business in the beginning, suddenly have little interest in you, especially, when you need services they offer. Only then might you begin to realize that your online dating business is in fact a high-risk business. You might have never had any credit problems in the past, but this has no bearing on the case; your business is an internet-based business and for this very reason, you are too high risk for most banks who offer commercial services to their clients.
Finding A High Risk Merchant Provider
After you realize you run a high-risk business and have a few refusals to provide you with a merchant account, will you start to consider that you actually need to find a provider who specializes in this field.
It is imperative that you find the right company for you and one that meets your needs. Finding a company like eMerchantBroker.com, who actually specialize in high risk merchant accounts, is important. They understand your business, they know the risks involved and they are prepared to consider your application.
Why Online Dating Is High Risk
Understanding why online dating businesses have a classification of a high-risk business is not difficult. The card payments are a remote transaction, never face to face, meaning there is a higher risk that any card payment could potentially be a fraudulent transaction on a stolen card.
This is a risk that banks and some credit card companies who offer merchant accounts, just aren’t prepared to take. They feel that the potential risk is too great for them and therefore, fail to offer any merchant account services to online dating businesses.
This poses a problem with online dating businesses; they are providing a service to the lonely hearts across the globe and this creates potential problems with receiving payments for connecting these people. Having a merchant account is key for the success of online dating businesses; it allows them to process payments and to continue in business offering a global service to their clients.
This is where high-risk merchant account providers like EMB, are able to offer the merchant accounts to customers. However, it is important that you are careful to pick the right high-risk merchant account, it must meet your needs, you must be fully aware of the terms and conditions as well as the percentage the merchant company will take for processing the transactions.
Therefore, finding the right high-risk merchant provider, who specializes in merchant accounts for online dating businesses, is important if you want to offer payment options for your potential clients now and in the future. Don’t worry about your business classification, it won’t prevent you finding the right high risk merchant account provider.