Wednesday, February 10, 2010
Why are Dating Merchant Accounts Considered Risky?
Posted on 8:58 AM by programlover
Why are Dating Merchant Accounts Considered Risky? by kevinsmith
in Accounting (submitted 2010-02-09)
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The growing popularity of Web and Internet as a medium for communication has made our planet a small global village. Online dating is the latest passion for the girls and boys of present generation who are hooked to free teen chat rooms or free adult chat rooms.
However, the people associated with the online dating industry do not find it a cakewalk when it comes to making money. These are often categorized as high risk merchant accounts by majority of account providers. High-risk accounts incorporate those accounts where visual confirmation of the customer is not possible. In such cases, the involved businesses are usually advised to consult a company that possesses expertise in placing these kinds of accounts. Therefore, such businesses find it difficult to associate themselves with an account provider. Moreover, the possibility of customers demanding reimbursements adds to their woes.
Another factor responsible for labeling these accounts as high risk accounts is the possibility of fraudulent activities. It has been established that such accounts are more vulnerable to fraudulent transactions. Other risk factors include high volumes of sales transactions, potential chargeback and refunds. Therefore, fulfilling the everyday demands of the online merchant accounts remains a challenge for the account providers. Besides, it is extremely essential for an online dating business to maintain its existing client-base and collect funds for the new clients also.
Recently, however merchant service providers have realized the potential of this business. Therefore, if you are associated with the online dating industry, it would not be wrong to consult a merchant service provider.
The following could be useful to a person engaged in the business of online dating. Always look for the following qualities while selecting a merchant service provider:
* Real-time, practical and cost-effective solutions.
* Quick as well as easy arrangement.
* A secure Virtual Terminal and Payment Gateway.
* Protected SSL Encrypted Servers as well as 3D Secure.
* 24/7 Customer Care and Technical Support.
* Recurring billing as well as reporting options.
* Guaranteed protection against Credit Card Scam and Fraud.
* Major debit and credit card acceptances.
* The option of making payments in more than one currency.
* Simple integration of API for majority of platforms.
* Direct Debit Processing and an efficient verification system.
* Debit/Credit Card Processing Services.
The growing popularity of Web and Internet as a medium for communication has made our planet a small global village. Online dating is the latest passion for the girls and boys of present generation who are hooked to free teen chat rooms or free adult chat rooms.
However, the people associated with the online dating industry do not find it a cakewalk when it comes to making money. These are often categorized as high risk merchant accounts by majority of account providers. High-risk accounts incorporate those accounts where visual confirmation of the customer is not possible. In such cases, the involved businesses are usually advised to consult a company that possesses expertise in placing these kinds of accounts. Therefore, such businesses find it difficult to associate themselves with an account provider. Moreover, the possibility of customers demanding reimbursements adds to their woes.
Another factor responsible for labeling these accounts as high risk accounts is the possibility of fraudulent activities. It has been established that such accounts are more vulnerable to fraudulent transactions. Other risk factors include high volumes of sales transactions, potential chargeback and refunds. Therefore, fulfilling the everyday demands of the online merchant accounts remains a challenge for the account providers. Besides, it is extremely essential for an online dating business to maintain its existing client-base and collect funds for the new clients also.
Recently, however merchant service providers have realized the potential of this business. Therefore, if you are associated with the online dating industry, it would not be wrong to consult a merchant service provider.
The following could be useful to a person engaged in the business of online dating. Always look for the following qualities while selecting a merchant service provider:
* Real-time, practical and cost-effective solutions.
* Quick as well as easy arrangement.
* A secure Virtual Terminal and Payment Gateway.
* Protected SSL Encrypted Servers as well as 3D Secure.
* 24/7 Customer Care and Technical Support.
* Recurring billing as well as reporting options.
* Guaranteed protection against Credit Card Scam and Fraud.
* Major debit and credit card acceptances.
* The option of making payments in more than one currency.
* Simple integration of API for majority of platforms.
* Direct Debit Processing and an efficient verification system.
* Debit/Credit Card Processing Services.
