Dating Websites Gone Mad: High Risk Merchant Account Providers to the Rescue
A lot of so-called e-commerce gurus tout the online dating business as fun. It must be, as countless new business-minded individuals come up with certain ideas for a dating website, apply for a high risk merchant account provider, and start earning money in no time. Or is it that easy? It would be a lie to say yes. There's no such thing as an easy money-making scheme. Nor will ever be. Everyone takes some pain if not during the set-up of the dating website, but in the process of maintaining it.
Setting it up good
If you look closely, anyone can build a dating or matchmaking website. Pay a few bucks for a domain or two, have it hosted for a few tens of dollars per year. Then buy some articles online for reprint, or have the permission to publish them for free. This may even help you exchange links with other dating websites. Eventually you can make more money with affiliate programs and Adsense. So what else do you need to start the ball rolling? Ok, it's not your problem if people don't fall in love via your website. Your goal is to make money through their memberships. Easy.
Go ask Wells Fargo!
That's like throwing stones to the moon. A lot of people do earn a good several digits of dollars per day with a simple dating website. But there's a catch to it. First, you need to apply for a high risk merchant account. Domestic banks simply won't accept your application. It's a hard and fast rule in the world of e-commerce -- go ask Wells Fargo. Going offshore is a good bet, but since you're expecting high volume merchant account processing, you will have to pay for more fees. The great part is that they won't push you down with taxes and political intervention. In short, you do your business laissez faire and you make money as you please.
A Tale of Taking Chances
But why won't domestic banks take care of your business? The answer is truly simple. Let me tell you a story. A friend of mine, young, beautiful, and very engaging, joined a really popular dating website in the hopes of finding a nice guy online. She did it for fun, and not surprisingly, got a lot of responses for her profile and ad. So many men from all over the world sent her messages and tried to ask her out for a date. And yes, scammers too. She was even courted by a lesbian. She found all the responses exciting until one day she met the man she would marry not in the dating website she joined, but in another non-dating website relevant to her job. That man admitted he also joined a dating website, but met too many scammers so he quit his subscription. And while they were dating, my friend decided to quit her dating website membership too. Just like that. Why? Because she no longer needed it, having found the man that makes her happy.
A fairy tale romance? Only for my friend and her lover. For the owner/s of the dating website she joined, it was a nightmare. Not only did they lose a good customer, they were also likely accused of admitting scammers online. High risk merchant account providers know this and expect dating websites to take action when it comes to fraud and chargebacks. What is left for the merchant to do? Scammers are part of the whole shebang, whether it's a low risk or a high risk business you're running. An online matchmaking website is a sound investment, but employ tough anti-fraud systems if you could. Incite people to make love, not mail fake checks.