What to Look for in an Online Dating Merchant Account

Sep 16, 2016

From Tinder to eHarmony, and JDate, there are numerous dating websites and apps around. There seems to be one for every niche, making this a lucrative and helpful business venture. For those looking for a new business venture, this is great. But, one of the biggest problems comes when you are looking for a merchant account.

If you have previously owned a business, you know that business merchant accounts are essential for accepting credit card payments – which is essential to having an online dating website. The lack of options available for online dating websites is large – thanks to the processing industry classifying it as a “high risk” industry. “High risk” meaning that it is at a higher risk of chargebacks, which we all know are damaging to a business. The understanding of chargebacks is one of the biggest things that you need to look for when you are in the market for an online dating merchant account.

These accounts may be called “adult merchant accounts”, since they are established as adult-oriented services, and sometimes the content can be, well, not so family friendly. Regardless of the name the merchant account is under, you need to make sure that it is the right pick for you and your business. Chargeback understanding is only one of the things you need to consider. Another is their security. Do they provide the same great security to their high risk merchants as they do to their mainstream merchants? Not all do, and this is terrible! You should also make sure that the processor will offer your choice or payment processing and terminal. An even larger issues comes in the form of processing fee. Many charge a large fee for high risk businesses, which is not right. You should seek out a processor that charges industry-standard fees for all merchants.

When you are wanting to start an online dating site, you will need an online dating merchant account. Be sure to go over all of your options and ask questions, as this is one of the most important business decisions you will ever make.

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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 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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