Are you looking for payment processing for your online dating site? We provide online dating merchant accounts designed to meet the special requirements of dating apps and internet dating sites. Having the right dating merchant account is vital to your success in an increasingly competitive industry. With over dating sites worldwide, and more being added every day, competition is fierce. PaynetSecure provides online dating merchant accounts specifically designed for credit card processing of online, in-app, and MOTO transactions. Card payments are the greatest source of your cash flow. Accepting card payments with smooth efficiently is the key your profitability. Payment processing fees impact your profit margins.
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DigiWorld Partners had the opportunity recently to sit down with Conal Cunningham of InovioPay to discuss some of his insights regarding credit card processing. According to Pew Research, online dating among to year olds has nearly tripled in the past three years and doubled among to year olds. This trend shows no signs of slowing anytime soon. Credit card payments for dating sites, however, is considered risky business for many card issuers, which was a main topic during this interview.
Why Dating Sites Are Different The reason dating sites are considered to be one of the most dangerous environments for credit card processing is because of the unusually high probability of chargebacks.
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They identify the issuing institution for each cardholder account and enable transactions to be properly routed. BINs are currently the first six digits of the account number. The International Organization for Standardization ISO , an independent, non-governmental international organization that develops voluntary global standards. The payments industry is more complex than ever. With new devices and technologies emerging in a connected world, the industry’s finite supply of BINs is reaching current capacities.
So, the industry needs more BINs to manage industry growth. To expand supply, Mastercard is rolling out an additional 50, six-digit BINs This will effectively double the existing supply of Mastercard BINs – allowing merchants to accept millions more transactions and our issuers to continue to support business growth. Issuers will need to upgrade their systems to be compatible with 2-series BINs, but all systems should be analyzed to determine if any additional changes are required.
Software providers may have updates available, and internally developed solutions may require enhancements. For more information, visit the 2-series BIN page. The industry is considering a move to a new 8-digit BIN standard and is discussing an appropriate implementation date.
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