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 ?
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
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 ?
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.