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  1. #1

    need software to run payment company

    Hi, i'm searching for a good and professional software to run my own payment company. I found a bank who gives me a contract for 3rd party billing, now i need a software to set up several merchants and connect to gateway. Any suggestions ?

    Paul

  2. #2
    Join Date
    Jul 2003
    Location
    Castle Pines, CO
    Posts
    7,189
    What did the bank suggest you use? Usually if you are going to be your own IPSP, you create the gateway so you can control / handle the transactions.

  3. #3
    It can take a lot of time and money to implement the gateway. You may rent a payment gateway software from a PCI certified company under own label for a small fee for every transaction run the gateway.
    Credit card processing, online check/ACH and EuroDebit payment solutions for the Internet merchants
    www.psbill.com

  4. #4
    Join Date
    Dec 2006
    Location
    Europe
    Posts
    1,112
    Number 1 is to develop and maintain your own payment gateway if you have the staff and experience to do so, however as already suggested there are several providers out there which are able to offer you a payment gateway for rent under your own label.

    But one thing is the payment gateway which isnít that hard to find a solution for but another thing is the experience in this business. You must be aware of that if you open a new company to act as an IPSP and start advertising you will attract a lot of people that you donít want to do business with because of several reasons like fraud and illegal stuff they sell.

    Do you have any experience in this business or are you just looking for a new business venture in an industry where you can make good money (if you have the knowledge and resources in place)?

    If you donít have any experience then I would recommend you to look into some reseller programs with existing companies and let them take on your merchants for the beginning, in that way you will get a good background of what the ups/downs are and which business and merchants you absolutely shouldnít do business with.

    Bear in mind, the IPSP will take the entire Risk involved and will be the one that have to pay the Penalties, fines and other expenses if something goes wrong, do you have the cash for this ?

  5. #5
    Join Date
    Mar 2006
    Location
    Europe
    Posts
    490
    I have to agree with Fionix.

    There are so many traps along the way when being an IPSP that you really need to know what you are doing or it can be very costly for you at the end of the day.
    *
    Failsafe Payments - New Website & New Products Launched

    CertoConnect (Alternative Payments) - Free Until July 2012

  6. #6
    thx you guys for your great replies. I only want to charge the cards from several different shops from me and some friends. We don't want to charge cards from unknown people. I know the risks and fines from visa for taking illegal business.

  7. #7
    in this case, you may contact to a payment service provider and it will help you to get the business running.
    Credit card processing, online check/ACH and EuroDebit payment solutions for the Internet merchants
    www.psbill.com

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