Online dating businesses must overcome picky singles

Singles are likely to be displeased with dating services because many cannot overlook pet peeves.

Business owners trying to launch an online dating site may find the experience difficult because banks generally consider such ventures to be a high risk dating merchant account.

Any business that processes a high number of transactions is more susceptible to chargebacks anyway, and dating sites are no exception. Factor in the high risk of fraud (i.e. users sending money to someone who is not who they claim to be), and it becomes apparent why these websites often require high-risk merchant accounts to process transactions.

The results of a recent survey by a social dating industry giant of 1,500 of its members may reveal another reason why online dating sites are risky. Zoosk found that a majority of respondents possessed between two and five pet peeves when it came to a first date, according to a press release.

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Those pet peeves, which range from cleanliness problems to excessive cell phone usage, often undermine any opportunity of a follow-up date. Nearly three-quarters of women and half of men surveyed said they had declined a second date because one of their pet peeves appeared during their first date.

Clearly, most people looking for love are highly selective about who they date, so many may be dissatisfied with the online dating service. This may help explain why refund requests and chargebacks are so prevalent in the online dating industry.

According to Inc.com, there are nearly 15,000 online dating enterprises in the world and industry revenue is expected to grow nearly 3 percent in the next five years. Emerging dating websites must find a way to combat the picky nature of online daters in order to reduce chargebacks by creating a dating merchant account. Otherwise, they will still be considered among the most high-risk businesses.

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