The global online dating and matchmaking market is growing rapidly. Recently, the coronavirus pandemic has accelerated the growth of the industry. This article is about how people find love and date amid the outbreak. Besides, it’s about where you can find the right online dating merchant account for your business.
Online Dating Merchant Account & Services Amid the Pandemic
An April 2020 survey of the U.S. millennials using dating apps showed that 31% of the participants were using online dating apps/services much more after COVID-19 than before. 12% were using them much less.
That’s with good reason. People, locked at their homes, are seeking love and connection, and dating apps are the very means they have chosen to rely on. Dating apps such as Tinder, Bumble, Grindr, and Scruff are working on new features to encourage long-distance romance. On the other hand, singles are creating groups on Facebook to set up online dates.
So, what are you thinking about your own business? After all, the faster shift towards the online space is making it even more critical to use advanced and reliable merchant services for payment transactions.
Thus, it’s too important to work with a trustworthy high-risk payment processor. This is how you can get exceptional merchant processing services, including a secure and cheap online dating merchant account, fast and with ease.
How People Find Love During the Lockdown: Important for Merchants
Are you an adult business owner interested in how you can grow your business during the situations like the one caused by the pandemic? No worries. Here’re several points to take into account:
- Single people are spending more time in dating apps to find love, especially in the places where the virus is more widespread. E.g., Tinder witnessed more swipes on March 29th than ever before.
- The number of people using video chats has increased.
- Online dating app companies are working on new features and services. E.g., Hinge has introduced a new virtual video date feature. Tinder will launch its video dating service in Q2 of 2020.
- Match has had a 17% YoY (year-over-year) revenue growth, thus reaching $545 million, and earnings per share have increased by 31% to 55 cents.
- 2 out of 3 daters over the Internet are still looking for love despite the situation.
- Several founders of online dating app companies think the increased interest in virtual dating isn’t likely to disappear after the crisis. Moreover, some believe there’ll be more virtual coaching and therapy in dating apps.
Online dating is surging during the lockdown. Users of online dating services are looking for ways to make quarantine more fun. So, take into account the information mentioned above to build the right growth strategy for your adult business.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country that offers the most secure and cheapest online dating merchant account in the space. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.