How to Get a Merchant Account for Your Online Dating Website

Mar 26, 2020

The online dating industry is huge and very profitable. Online dating site Bumble is valued at $3 billion. Match Group, which owns sites like Tinder and reported $1.7 billion in revenue in 2018 alone. Without a doubt, love is big business.

Why the Online Dating Industry is High Risk

Despite its profitability, however, online dating is considered high risk by traditional lenders. One of the biggest reasons for this is the nature of the business and the risks involved. For example, every year thousands of people are catfished online. It not only takes a toll financially but emotionally as well. (“Catfish” refers to someone who creates a false online identity with the intent of defrauding someone or committing identity theft.)

Online dating scams are the highest total reported scams, according to the Federal Trade Commission. In 2016, $220 million dollars were stolen by criminals in the U.S. In 2018, $143 million dollars were reported lost. And that’s just what was reported.

This – along with many other factors – has pushed adult businesses into the high risk classification. In turn, this high risk label makes it incredibly challenging for online dating sites to get the necessary payment processing or merchant account services for their businesses. Traditional banks and most processors are simply unwilling to work with the adult sector. As a result, the adult sector has turned elsewhere to secure merchant accounts.

EMB Offers an Online Dating Merchant Account

Adult merchants that offer online dating services should consider turning to an alternative provider like Merchants can get approved for an adult merchant account without major challenges. As long as your chargeback rate is below 3%, EMB can help you quickly secure the proper credit card processing account you need for your business.

EMB has years of experience in the high risk field and understands all the ins and outs of what a high risk business faces. EMB is voted the #1 high risk payment processor in the U.S. and boasts an A+ rating with the BBB. EMB is also rated A by Card Payment Options and was named one of Inc. 500’s Fastest Growing Companies of 2016. With EMB, merchants gain access to the best merchant account services, including the lowest possible rates, in the industry.

EMB offers:

  • A variety of payment gateways (including EMB’s own gateway)
  • Efficient processing
  • Easy application process
  • Speedy signup
  • Experienced staff
  • Proven platform
  • Unmatched chargeback prevention services
  • iCheck

If you need merchant services to easily process your customers’ payments and keep their information safe, consider partnering with EMB. eMerchantBroker is not only a respectable high risk payment processor but also a reputable business funding provider. Get an adult merchant account and access to funding in as little as 48 hours.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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