Dating site without credit card
This is why businesses utilizing credit card processing for dating sites should have the necessary risk mitigation services in place to protect themselves from the negative aspects associated with this industry.Failure to stay ahead of chargeback problems and bank disputes so prevalent in the online dating sector can result in revenue losses, increased transaction costs and even fines.High-Risk/Low-Risk Classifications Conal goes into options the credit card companies have in classifying businesses as either high- or low-risk.He explains that much depends on your payment relationship with the banks.The CBC reports that according to the Canadian Anti-Fraud Centre, people in Canada are million shorter in 2012 because of online dating related frauds. This type of frauds caused more losses than any other type of fraud in Canada.If you add monthly subscriptions that are required to access most of the online dating sites, you get an idea that online dating has a hefty price for Canadians. If you don’t want to be in the group of people that spends their money on online dating sites, you can choose a free dating site.More specifically, the short session was dedicated to credit card processing for dating sites, which has become a booming industry now estimated to have annual revenues of about billion in the U. According to Pew Research, online dating among 18- to 24-year olds has nearly tripled in the past three years and doubled among 55- to 64-year olds. Credit card payments for dating sites, however, is considered risky business for many card issuers, which was a main topic during this interview.
Cunningham explains that in many cases these can be as high as per incident.
Unlike dating sites that require monthly subscriptions, these sites are primarily funded by advertising.
They do have optional premium features that cost money and can give you an advantage in the online dating world, but they are not mandatory.
Friendly Chargebacks and Chargeback Mitigation No matter how sophisticated your credit card processing for dating sites may be, there will always be people who try to beat the system by purchasing your service and then later going to their bank, complaining for some reason and demanding a refund.
This is called “friendly fraud,” and there’s basically nothing you can do to prevent it.