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When this occurs, the dating site receives a black mark from their card processor, even though the site itself has no control over the situation, since the purchase made on the card was totally legitimate.
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.
According to Conal, anything in excess of this 1% can carry fines starting at 0 per incident.
Keeping Outside of the Chargeback Channel To get in front of these problematic chargeback issues, Inovio Pay works with networks that have good standing relationships with the big name banks that issue most of the credit cards used by dating site visitors.
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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.
Charges Versus Fees While the percentages that banks charge dating sites per transaction are typically in line with those for other online retailers, the real cost stemming from disputes turning into chargebacks is in the fees your bank will levy.
A refund is guaranteed to the customer and the entire matter is handled without incurring high fees or fines.We know they're a pain, so Matchopolis has several active technologies that continuously remove undesirables from the site, and typically prevent their signing up in the first place.Are you dreaming of dating in California or romance in New York?Communication With Customers Good communication with your customers is another critical factor in keeping your relationship with your credit card processing company on a healthy footing.Conal explains the importance of the descriptor you include on customers’ bank statements.