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Online dating appeals to many entrepreneurs as the industry is very niche oriented which allows for a lot of varied businesses in the space. If you are considering starting an online dating business, or already have one, you understand how important it is to have a reliable payment system in place. Many online dating sites are set up as offshore companies which can complicate banking and other merchant issues. However, payment processing companies are aware of this issue and are beginning to adapt accordingly. Online dating has multiple income stream and continues to be a popular business venture for many entrepreneurs.
Anyone who has had an online business or ecommerce venture understands how important connectivity can be. With these types of businesses, customer service of your payment processing vendor is of the utmost importance. If your payment system is down, even for an hour, it can be very impactful on your revenue in a very negative way. When selecting your processing company, be sure that they operate 24 hours every day and have a live customer service agent available at all times, especially during off peak hours. When there are issues with payment processing you want to be partnered with a company that will have you back up and running as quickly as possible.
There are certain issues that are inherent to the online dating industry that can create issues that affect revenues and cash flows. The most pervasive of these is the problem of charge backs. Often times people become dissatisfied with the online dating service and request a refund. In addition to contacting the dating service, many consumers will contact their credit card companies and request that the charge be reversed. It is because of these and similar factors that online dating companies have difficulty with projecting cash flow and have many disruptions to their monthly deposits. It is important to work with a company that does not charge a fee for charge backs, or levies one that is less than the market average. Another issue that creates havoc in the credit card application process for online dating companies is the use of such websites as fronts for escort or prostitution services. Be sure that your company cannot be questioned on its legitimacy by your payment processing company. These service providers can and do revoke service if they have any question of the business practices of their clients.
Online dating can be a lucrative business when done correctly, and with great diligence. It is an industry that requires business owners to choose their vendors and other service providers very carefully. Payment processors can have a huge impact on your monthly cash flow, so be sure to select yours with serious consideration. Having reliable processing services through a top of the line online dating merchant account can make all the difference.
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