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How to Build Receive Payment System for Indians (Foreign Currency)

Discussion in 'Payment Processing' started by rahul247rocks, Aug 5, 2012.

  1. #1
    Hey Guys,
    I am planning to build a Receive Payment System for Indian Businesses (Especially Call Centers). Don't think of it as PayPal. I simply want to make a company that allows businesses to sign up and then receive payments from their clients in USA or UK. Clients will pay via Credit Card. I also need to have a chargeback system for those clients. For all Payments my company will cut a flat fee of 15 percent. Now I have some questions regarding this:

    1. Which Programming Language to use to build it.
    2. How to set up our gateways so that companies can receive payments for USA citizens.
    3. What are the legalities involved and how does IT Department view our company.

    Can someone, who is experienced please advice where to start and how to go about it. My main concern is the legalities involved for setting up a gateway system like this.

    Regards,
    Rahul
     
    rahul247rocks, Aug 5, 2012 IP
  2. amsomu

    amsomu Peon

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    #2
    try using ccavenue.com rather buliding own payment which is not that much easy....
     
    amsomu, Aug 8, 2012 IP
  3. techlead

    techlead Active Member

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    #3
    Since your question related to payment gateway us big G
     
    techlead, Aug 8, 2012 IP
  4. bellc

    bellc Member

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    #4
    @Rahul.. Nice initiative.

    Here are some inputs. However, I strongly recommend you to consult officers and/or professionals in your region:

    1. Which Programming Language to use to build it.
    Use Java or RoR.. It is secured and robust as compared to other languages like PHP

    2. How to set up our gateways so that companies can receive payments for USA citizens.
    Get payment gateway from any acquiring back, get PCI compliance for your server, create and host applications. Banks PG support accepting USD. You will need EEFC account. All monies will be deposited in EEFC account. EEFC account is linked to your checking account. You can convert USD to local currency any time but within 15 days or whatever is recommended by RBI

    3. What are the legalities involved and how does IT Department view our company
    Good question.. You will need approvals from bank, and RBI. You will have to submit your case to RBI for review and approval. If approved, IT will see your business as legitimate. For compliance, it will be good to submit your case to AO (assessing officer) of your zone. Do check with your local CPA and attorney.

    Good luck
     
    bellc, Aug 25, 2012 IP
  5. iwebsocial

    iwebsocial Well-Known Member

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    #5
    First Of All Before You Start Your Payment Receiving Business, You Must Get in Touched With RBI & Also Make Sure That Your Company always Comply With RBI Rules & Guidelines :)
     
    iwebsocial, Nov 19, 2012 IP
  6. vkash.com

    vkash.com Peon

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    #6
    We've already developed what you required. PM me for further discussion. Investors are also welcomed to join our new payment gateway venture.
     
    vkash.com, Jan 9, 2013 IP
  7. mayank2yk

    mayank2yk Member

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    #7
    @vkash bhai i m lil interested in payment gateway.... and need some help pm me ur contact detail so that i can reach to u either by text or by call..
     
    mayank2yk, Jan 11, 2013 IP