Chargebacks911® Executive Don Bush Offers Guest Insight for PayKings Blog
Dating sites and apps may be revolutionizing how people meet, but they’re experiencing a surge in chargebacks as a result of their widespread use. In response, Chargebacks911 VP of Partner Engagement Don Bush sat down to pen a new guest feature for the PayKings blog, explaining how to engage and, ultimately, eliminate dating site chargebacks.
PayKings are a leading provider of merchant services for high-risk verticals. Merchants in the dating, neutraceutical, travel, and many more spaces rely on PayKings for B2B, eCommerce, and retail payment processing at reduced rates and fees.
The online dating market showcased a very impressive 11.5% annual growth over the last five years. But, as Don notes in the piece, this new revenue could be at risk if merchants can’t manage chargeback effectively.
“Online dating is considered a “high risk” vertical,” he says. Buyers tend to file more chargebacks against these businesses than average because their utility has a built-in limit (once a user finds a match) And, for some, filing a chargeback is the easiest way to terminate service.
“With dating sites, for instance, a customer might pay for your service, quickly find a match, then file a chargeback to recover the money spent. Buyers who engage in this behavior are effectively cyber-shoplifters; they’re abusing the system to get something for free. They may be able to rationalize these actions to themselves, but it’s not fair nor ethical to deliberately rip off merchants in this manner.”
Of course, not all chargebacks are a clear-cut case like this. That’s why it’s so important to take steps to eliminate chargeback based on the three sources outlined in the piece.
