Payment processors and the ability to pay customers
Setting up an 'investment club' site for a customer and am wondering how to go about having the ability to send payments back to investors. The ideal (automated!) scenario would be: an investor sends $300 via online payment and i need the facility to send back a percentage of that amount (to the same credit/bank card) at a later date. All the logic to control these 'refunded' payments would be on the web server.
Does anyone know if this can be done?
This would be is similar to how online gambling companies pay winnings back to the original credit card.
You can always refund the full (or partial - up to the full) amount of the original transaction with any direct merchant account.
Usually there is a cap on what is considered an acceptable refund ratio (typically around 10%) and there maybe specific rules depending on your MCC used (i.e. MC doesn't allow refunds for certain industries).
Alternatively you could look at an acquirer which allows you to do CFTs, which are basically refunds but not limited to the original transaction amount, so you can send any amount back. Again certain restrictions apply, Visa only, geographically etc
If your "investment club" project is only slightly related to HYIPs (only guessing here), I would stay away from credit cards and look at other options.