How to Set up a Merchant Account for Your Adult Dating Business

Sep 24, 2020

The spread and popularity of the internet are increasing the number of social media and dating site consumers by 15% per year.

Back in 2018, the global internet dating industry was valued at 3 billion USD. Other statistics show that an average online dater uses more than 200 USD per year on dating sites, so entrepreneurs must pay close attention to their payment acceptance to ensure optimal profits.

Dating firms that handle cardless transactions require a dating merchant account and a dependable payment processor to safeguard the business from scammers and fraudsters.

This post will ease the process of acquiring a dating merchant account.

Things to consider before acquiring an online dating merchant account

When choosing the ideal merchant account for your dating platform, try to consider the following aspects:

  1. The Merchant Category Code

Depending on mainstream content, chargeback ratio, and acquirer’s preference, your business may fall under different Merchant category codes. The MMCs may increase or reduce processing fees and currency conversion rates.

  1. Adoption and integration of technology

Proper technology is the cornerstone of any successful payment solution. However, you don’t necessarily need a solution that’s difficult to integrate into the dating site. It would be best to acquire a dating merchant account that comes with complete API control.

  1. The customer experience

Online users always want a simple, hassle-free experience; no one wants to be redirected to another webpage or service to pay or checkout. Online dating sites should use merchant accounts that allow for easy tracking and monitoring of customer payments.

  1. Security issues

On average, one out of three online dating sites is plagued with security and fraud issues. To avoid being part of this statistic, partner with high-security payment solutions with proactive anti-scam tools.

How to acquire a dating merchant account today

Before applying for a merchant, you must fulfill several requirements.

First, a merchant must prepare the following documents: Incorporation and shareholders’ certificates, the institutional structure organization, processing history, premium user test credentials, and photocopies of the shareholder’s utility bills.

Next, you need to prepare the dating website and ensure it meets the set website compliance regulations.

On meeting all requirements, you can apply online for a dating merchant account with a payment processor of choice.

Final Words

Many payment providers accept adult businesses, but some offer more comprehensive services than others.

The right partner should understand adult-based businesses’ specific needs and problems and be willing to offer unswerving support every time.

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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