Most new dating sites these days are free, and payment providers are focusing on getting dating sites to switch over to their system with promises of lower rates.
Online payment system providers were out in force at iDate. I liked this Vindicia special landing page for the online dating industry.
Trying to explain how payment processors work, merchant banks, clearinghouses and all of the complicated moving parts is a nightmare. Payment providers need to do a better job explaining how they interface with paid dating sites.
Payment solutions tend to be a “set it and forget it” feature for dating sites. Dating sites need to be clearing a substantial amount to consider moving to a new payment provider. The question becomes, when is the time to change over to a new provider? How many monthly transactions?
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Hi David. I agree that the Vindicia landing page is a wise move on their part. Your post has me wondering which payment processors you view as being on top of the game. What about payment gateways? Care to share?
This is an area that I am exploring in greater detail. I might do a review of payment providers at some point.