Rishabh Goel
CEO & Co-Founder
Feb 5, 2025
|
6
min
Astrologers are moving towards Merchant of Record and for a good reason. Many ventures have shifted online, opening endless possibilities for global transactions. Among these ventures, astrology has made a remarkable move into the online space.
The online astrology consultancy market in India is booming, with platforms like Astrotalk growing significantly, increasing 11.8x year-on-year to Rs. 99.99 crore. It aims to double its revenue in 2025, targeting approximately Rs. 1,250 crore with an operating profit of Rs. 230-250 crore.
Thanks to technology, astrology services have gone global, offering online astrology consultations to millions worldwide. However, as Indian astrology brands expand internationally, they face challenges like complex tax regulations, payment issues, and legal risks.
This is where a Merchant of Record (MoR) steps in, simplifying global operations and enabling brands to focus on what they do best delivering personalized astrology services.
The Growing Astrology Market in India
Did you know that Hindu astrology has been a significant spiritual tradition for centuries? Despite this, only 1.5% of astrology consultations happen online. It’s such a small number, right? Well, this is changing fast.
According to a report by Redseer Strategy Consultants, this figure is projected to rise to 9% by 2030. The surge in the online astrology market since 2021 has been largely fueled by heightened demand for spiritual and religious guidance during the pandemic.
Astrology has deep cultural roots in India, and its popularity is only growing. With the rise of digital platforms, astrology services have become more accessible. Technology has enabled astrology brands to reach a global audience.
From personalized horoscopes to live consultations, these platforms cater to diverse customer needs. Customers seek tailored advice, and astrology brands are leveraging technology to deliver highly personalized experiences. This has increased the demand for Indian astrology services worldwide.
Challenges for Astrology Brands Selling Internationally
Let’s be real, every opportunity comes with hurdles. While the global market offers immense opportunities, we need to look into the nitty-gritty of it from tax regulations to legal risks.
Complex Tax Regulations
Every country has its own tax laws, which can vary significantly. For astrology brands, this means dealing with VAT, GST, and Sales Tax ( in the U.S. sales Tax differs by state).
Sounds overwhelming right? That’s because it is, especially for smaller brands without any dedicated resources.
Payment Processing Issues
Cross-border transactions involve several complexities like; currency conversions, high transaction fees, Fraud risks and compliance with multiple payment gateways. For smaller astrology brands this can become a hurdle.
Legal and Compliance Risk
Navigating local laws and data protection regulations is another major challenge. Laws like the General Data Protection Regulation (GDPR) in the European Union impose strict requirements on how customer data is collected and processed, and non-compliance can lead to heavy fines.
Many astrology brands, especially smaller ones, may not have the resources or expertise to navigate these legal complexities, making expansion risky.
Benefits of Using a Merchant Account for Astrology Services
Now that we understand what kinds of challenges one can face dealing with global clients without an MoR. Let’s see how A Merchant of Record (MoR) takes the heavy lifting off your plate, so you can focus on what you do best, delivering exceptional astrology services.
Focus on Core Business
A Merchant of Record will take over the administrative and operational burdens like tax compliance, payment processing, and legal responsibilities, this will help the astrologer to concentrate on the core offerings.
Faster Global Expansion
You can provide your astrology consultancy in a new market with Merchant of Record without establishing a physical presence or legal presence in each country, significantly speeding up the expansion process.
Improved Customer Trust
The Merchant of Record enhances the customer experience in many ways:
Localized payment: Astrology is deeply rooted in cultural practices, and customers are more likely to trust a brand that respects their local customs and preferences.
Secure transactions: An MoR ensures that all customer data, including payment information, DOB, etc, is secured during transmission and storage.
Personalized Customer Experience: Offering payment plans or subscriptions for long-term astrology services, such as monthly horoscopes or yearly forecasts.
How the Astrology Merchant Account Works: A Step-by-Step Guide
Curious how a Merchant of Record works? Let's break it down:
An Astrologer or an Astrology Service provider like Astrotalk partners with a Merchant of Record (Example: Dodo Payments) to manage global transactions.
A customer from the US or Europe buys an online astrology consultation on the brand’s platform.
The Merchant of Record handles the international payment, including currency conversion and transaction fees.
The MoR also calculates and remits the applicable taxes (VAT, GST, etc.) to the respective country.
It ensures adherence to local e-commerce laws and data protection regulations.
The net revenue is then transferred to the astrology provider's merchant account after deducting fees.
Choosing the Right Merchant of Record
Challenges your business can face without a Merchant of Record, check. Advantages of using a MoR, check. How does an MoR work? Check.
Now, the main challenge is selecting the right MoR platform that is perfect for your business. Whether you are an individual astrologer or a company, consider the following factors while choosing a Merchant of Record.
Experience in Handling Digital Services
Astrology services, such as online consultations, personalized horoscopes, and subscription-based content need a Merchant of Record who is familiar with services such as;
Understanding of Digital Products: MoR that is familiar with the unique challenges of selling intangible products, such as compliance with digital tax laws (e.g., VAT on digital goods in the EU).
Subscription Management: If your astrology brand offers subscription-based services, the MoR should have systems in place to handle recurring payments, billing cycles, and subscription cancellations.
Fraud Prevention: Digital services are often targeted by fraudsters. An experienced MoR will have advanced fraud detection and prevention mechanisms to safeguard transactions.
Merchants of Record like Dodo Payments specialize in managing digital services and subscriptions, making them a reliable choice for astrology brands.
Expertise in Target Markets
Every region has different regulatory, cultural, and payment preferences. Your MoR should:
Navigate Local Tax Compliance: It understands tax regulations in your target markets, such as VAT in Europe, GST in India, or sales tax in the US.
Payment Preferences: customers in Europe may prefer credit cards or digital wallets like PayPal, while those in Asia might prefer local payment methods like Alipay or Paytm.
Regional Legal Knowledge: The MoR should be well-versed in local laws governing digital services, data protection (e.g., GDPR in Europe), and consumer rights.
Support for Multiple Currencies
With the global Audience comes the need for multiple currency support. The right MoR will handle:
Currency conversion processes to avoid hidden fees that could deter customers.
Localized Pricing to significantly improve conversion rates and customer satisfaction.
Conclusion
Indian Astrologers will face difficulties as they enter foreign markets including complex tax regulations, payment processing issues, and legal compliance risks. By streamlining these complications, a Merchant of Record platform lets companies concentrate on providing outstanding astrological services.
By partnering with the right MoR, astrology brands can expand globally, ensure compliance, and build trust with international customers. Dodo Payments is the ideal partner for astrologers to expand internationally. From localized payments and secure transactions to seamless subscription management, We ensure a smooth and trustworthy experience for both brands and their customers.
Focus on what you do best, delivering spiritual guidance while we handle the complexities of global operations.
Let’s grow together!
