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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.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.
Cunningham explains that in many cases these can be as high as per incident.
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Digi World Partners had the opportunity recently to sit down with Conal Cunningham of Inovio Pay to discuss some of his insights regarding credit card processing.