OPW – Nov 22 – The dating industry has had a hard time getting fair rates for
processing because of unfair classification. Take a
look at the visa merchant category codes
and you'll see class 7273
Dating and Escort Services. You'd think the internet dating industry
deserved its own distinct classification. Your comments please.
I am glad someone is finally willing to discuss this. Unfairly classifying dating sites with Escort services has a significant financial impact on companies. Both the processors don’t care and the card associations don’t care enough to create a separate category. I can understand the need to put dating sites in a high risk category but it would doing the industry a great service by creating a unique classifier so we could break out of this “high risk” status.
I am glad someone is finally willing to discuss this. Unfairly classifying dating sites with Escort services has a significant financial impact on companies. Both the processors don’t care and the card associations don’t care enough to create a separate category. I can understand the need to put dating sites in a high risk category but it would doing the industry a great service by creating a unique classifier so we could break out of this “high risk” status.
Now that this has real governmental/tax implications, Visa may not have as wide a latitude to “creatively” identify businesses from a Coding perspective.
-Gene
Now that this has real governmental/tax implications, Visa may not have as wide a latitude to “creatively” identify businesses from a Coding perspective.
-Gene
This is outrageous. Industry leaders should get in touch with Visa to have this fixed.
If they were to sue Visa, I cannot imagine a Judge would agree with Visa’s thinking.
This is outrageous. Industry leaders should get in touch with Visa to have this fixed.
If they were to sue Visa, I cannot imagine a Judge would agree with Visa’s thinking.