Face the facts in the 21st century. Sex sells. Actually, sex sold back as far as Pompeii and probably even further if someone did the research. If the oldest profession in the world has been around for so long, why is an escort merchant account still considered high risk? In this instance risk is not associated with diseases but with chargebacks.
You may be at complete odds with lumping your business in with all the others that sell something to do with sex. You say that your company only provides legitimate escorts and nothing more. It isn’t that you are not believed. It is not that your word is not valid. The fact of the matter is that you are in the same category as established by the card associations as those who sell sex toys, adult films and now those who offer apps of a sexual nature.
It seems that nothing is sacred or secret anymore. Now there is an app that measures sexual performance. Men log in and track how long their encounter lasts and the app supposedly analyzes not only the time spent in the actual act but judges the sounds and language that is uttered. It is supposed to come back with suggestions for the man to make his ‘performance’ stellar. Without putting down this new app that seems to be gaining ground, who exactly set up the criteria for judging?
A man may purchase this app and subscribe to the service. What if he doesn’t like the answers he gets? What if he thinks it does not provide what is promised? He will complain to the card issuer that he was scammed – right or wrong – and the merchant gets a chargeback.
There are new sex tech startups coming on line weekly. Now there is an app that promises to find you a person for a ‘hook up.’ For those not into the vernacular, this means the service will find someone to have sex with you for free and with no strings attached. Again, what if a man or a woman purchases the service and discovers there is no free lunch. Like the man above, they will claim foul with their card processors and the business gets a chargeback.
Then there are the valid transactions that have been charged to your escort merchant account. Maybe a business person was in town and wanted company for dinner. Maybe there was a wedding where a guest did not have an appropriate ‘plus one.’ It could be that the dinner escort was for a married gentleman and everything was going according to the agreement until his wife saw the charge on his statement. His course of action was to deny making the charge. You are left with another chargeback.
If you want to begin a new business in the sex tech industry you are going to have to keep your chargebacks under 3%. Plus, you need a high risk processor that specializes in escort merchant accounts. There are no fees to apply and you do not need to have a great credit score. You also do not need your own Visa and MasterCard license. Generally, settlement funds are in your checking account the next business day.
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