Online Dating Changed Permanently Due to COVID-19

Sep 17, 2020

COVID-19-related shutdowns forced people to stay indoors and start meeting online more often than previously. Online daters began using video chat services Zoom and FaceTime for organizing virtual dates. The majority of online dating apps created new features such as “digital date.” 

Online Dating After COVID-19: Online Dating Merchant Account

A 2019 Stanford study showed that couples were more willing to choose online dating for a relationship than any other means. In 2020, COVID-19 accelerated this trend as a result of the ban on interactions. 

Tinder CEO Elie Seidman has noted that being socially isolated doesn’t mean to get disconnected. The daily messaging activity of Tinder’s American users rose by 10% – 15% across the country. Match Group reported there’d been a significant rise in the number of people choosing online dating in Q2 of 2020 as compared to the 1st 3 months of the year.

According to CEO of Plenty of Fish, Malgosia Green, lots of people were expanding their dating life while indoors by using online video services and meeting people through live streaming and chats.

This couldn’t leave adult businesses unaffected. They saw an unprecedented increase in the use of their services. Thus, the need for reliable and low cost merchant processing services became even more vital for merchants in the field. 

If you’re an adult business owner interested in secure and cheap payment processing services, such as an online dating merchant account, consider applying to EMB, classified as the #1 high risk merchant processor in the U.S., is also a reputable alternative online lender that guarantees quick and hassle-free access to the services you need. 

Online Dating Is Changing

The stay-at-home orders in March 2020 caused Bumble to witness 26% growth in the number of messages sent on its platform.

Online dating rules started changing because of the new reality created worldwide. Online daters started turning to Zoom and FaceTime to organize meetings. Because of COVID-19, online dating apps became more popular than ever before. 

When it comes to the app users, they became more selective about who they’d like to meet in person. Moreover, online daters started spending more time on chatting. Also, they started using virtual options, including video calls, online games, and Netflix Party more creatively. 

As you see, COVID-19 created a situation where singles started looking for potential dates over the internet. Virtual dates grew unexpectedly. Moreover, online dating embraced changes to meet the new climate. 

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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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