how to be a payment processor.

Discussion in 'Payment Processing' started by alarik, Jan 24, 2007.

  1. #1
    I have been searching for quite a while now for some reliable merchant accounts for adult business but I didn't find anything worth using at a decent price,so I decided to become a payment processor,like CCBill for example.The problem is that I didn't find any useful information about this so I ask you,what must I do to have my very own payment processing business?
    thank you for your time
     
    alarik, Jan 24, 2007 IP
  2. jestep

    jestep Prominent Member

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    #2
    Everything related to adult processing is going to have to go through an offshore processing bank.

    You may have some options of becoming an ISO through an offshore bank, but I would highly recommend doing a lot of research on the subject before even considering trying to become a payment processor.

    In the US it costs tens of thousands of dollars just in registration fees to create an ISO. If you are looking at creating a 3rd party processor like ccbill for adult service, I would estimate the cost entry barrier to be in the high 6 figures at an absolute minimum.

    I would start searching for an offshore bank or adult payment processor, and try to find the bank or organization that is behind them.
     
    jestep, Jan 24, 2007 IP
  3. alarik

    alarik Active Member

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    #3
    and about how much would it cost me to become an ISO just for myself?not for commercial use?
     
    alarik, Jan 24, 2007 IP
  4. jestep

    jestep Prominent Member

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    #4
    Same price. There is no differentiation between how big or how your company is organized as far as the banks and card companies are concerned.

    You may want to look at signing up directly with an offshore provider that handles adult merchant services. Most of them have resale programs, and you could learn a lot more about the business.
     
    jestep, Jan 24, 2007 IP
  5. mjesales

    mjesales Peon

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    #5
    Contact me - I know a few people who do merchant accounts - and they accept things with high risk. Just mention that its what your looking for and i'll put you in touch.

    As far as becoming your own payment processor like CCbill - its a lot of work - not going to tell you not to do it - but I'm going to say its a lot of work.

    matt
     
    mjesales, Jan 25, 2007 IP
  6. Amoy

    Amoy Active Member

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    #6
    adult processing merchant accounts can be hard to find
     
    Amoy, Jan 27, 2007 IP