If you talk to most dating providers, they will say that the area of payments is one which is crying out for innovation and refinement.
Whether it is excessively high percentages takes by app stores, the lack of seamless one-click transactions or the difficulty of software implementation, there is currently no firm leader when it comes to dating payments.
One company that is looking to shake up the payment game is SecurionPay, who have spent nearly a decade learning about the problems of payments in industries like online dating, and have built a solution that aims to fix them.
SecurionPay is a cross-device, online and mobile payment gateway that focuses on security and flexibility, specifically tailoring its solution for “high risk” industries like online dating.
The Swiss-based company was established in 2014 after being designed by a team of payment processing experts with 12 years experience in payments, and 20 years experience in code development.
The company uses a technology very similar to world-renowned Stripe, but is tackling the high-risk markets Stripe has foregone, by focusing on two things: security and flexibility.
We recently caught up with CEO & co-founder Lucas Jankowiak, to ask what the FinTech company can offer dating companies looking for a more streamlined payment partner.
With data security obviously the hot topic in the dating industry at the moment, with the devastating hack of Ashley Madison, Jankowiak said SecurionPay’s system was specifically designed with the safety of both sites and users as a top priority.
He said: “The safety and security of the dating sites and end users’ card data is incredibly important. We provide a Token system, which replaces all credit card information with a string of meaningless numbers.
“If a fraudster breaks in, or hacks someone’s website, the credit card information will be useless for him and not available. It’s a win-win for both merchants and the end users.”
In addition to this, SecurionPay wants to help with the fight against fraud and chargebacks – its Token and fraud prevention system letting merchants get information about a fraudulent transaction before things go wrong, letting them refund or cancel a payment to avoid chargebacks.
Speaking about this feature, Jankowiak said: “This process can be either manually done by the merchant or fully automated with pre-selected parameters, completely customisable by the merchant’s needs or risk level. We provide the proper tools and methodology, and the merchant chooses how to use it and to what extent, based on their current needs.”
The company already has an impressive roster of clients, including Hub People, DateTronix and fast-growing white label platform dateyard, and was recently named one of the 29 best FinTech APIs in the world by LetsTalkPayments, alongside giants like Stripe, Braintree and Visa.
Speaking about the payment solution, VP and Managing Director at Datetronix, Aaron Tasci, said after the company implemented the solution with its dating affiliate program, it is “already benefiting all of our affiliates with its monetisation tools, proven top converting offers and integrated payment processing services.
“Their API immediately gave us a competitive edge against others, by enabling functionalities and flexibility that were impossible to achieve with payment platforms we have previously worked with.”
Jankowiak said its flexible API, in addition to its security features, is the company’s main USP – offering clients complete flexibility depending on their business.
Included in this is the ability to choose the way a company wants to integrate the platform, depending on their specific payment scenario or model, as well as which programming language they want to use.
The COO of dateyard praised the FinTech company on this area, saying it is ideal for fast-growing companies like theirs: “They provide a completely innovative and flexible solution with powerful APIs to accept and manage mass-volume transactions.
“This is the perfect partner for companies like ours that are extremely fast growing and require a scalable, international payment platform on which they can rely.”
Other positives include the fact that its payment form can be embedded directly into a merchant’s website, so users do not have to be redirected to an external payment form, something Jankowiak says has massively improved conversion rates.
Customers can also click a Remember Me button, so their credit card details are remembered by the system, allowing one-click payments in the future.
If customers chooses this option, SecurionPay then gives its clients customer data such as the number of transactions made, volume of transactions, number of refunds and number of chargebacks.
And their system is not just useful for large online dating businesses, but also for startups, as the merchant does not have to be PCI compliant.
Jankowiak explained the positives of this: “With a very easy integration and no need to bother with PCI – SecurionPay’s advanced technology makes sure credit card data never hits the merchant’s backend. Instead, they are sent to SecurionPay’s tokenisation server, and the merchant is provided with a token representation of the card, which is outside PCI scope.”
With all this, the company claims to have cut waiting time by 90%, with a system that can be integrated in hours rather than weeks, and offers 80% more flexibility and features compared to other payment models.
Michael O’Sullivan, the CEO of Hub People said: “SecurionPay has the right UX approach, best technology and reputable team to handle the most important part of our platform’s conversion flow. “
The company is currently focusing its services on high-risk verticals such as dating, games, adult content, software, gambling, and travel.
SecurionPay’s service is accessible worldwide – payments can be made in 160 currencies and settled in 20 currencies.
Talking about SecurionPay’s objectives for the future, Jankowiak spoke about the company’s determination to be the number one payment choice for developers:
“We want to be perceived as the favourite choice of developers, who can select from all the programming languages and countless way of integrating the system.
“At the end, everyone receives a custom made solution that matches perfectly [with] the merchant’s needs and is capable of supporting any payment scenario or model merchants wish to create. It’s a pure definition for flexibility and simplified online payments, completely hassle-free.”
Regarding pricing, the company promises no set up or hidden fees, and no monthly charges.
The Swiss company offers 2.95% and 0.25 euro per every transaction for low risk business, and a starting rate of 4.9% and 0.35 euro per every transaction for high risk businesses.
SecurionPay currently accepts Visa, Visa Classic, MasterCard, Maestro, Diners, JCB, Discover, American Express and Union Pay.
With this, they offer a rolling reserve from 5 to 10% withhold for a period of six months, depending on the business model and volume processed.