Hello Guys, I don't know if it the right forum to put this, but hope mods would move it if not please. My client would like to open a card processing business, like 2checkout and moneybookers, does anyone know what is required to create such a business? thank you very much for your help Regards
It's very, very, very difficult to open a business like this. There's a good reason why there's very few processors like paypal. This type of service is called aggregating, and the type of business is called a 3rd party processor. It involves registering directly with Visa/MC and involves finding an acquiring bank that will accept this type of business, none in the US allow this that I know of. Apart from that, your client will need to put up a considerable amount of money to be held in reserve to cover for fraud and chargebacks, and will most likely need to maintain a rolling reserve (a continuous % of profits), and be able to prove that they have the technical competency to host such an application. They will also need to become PA-DSS certified which, but this will be an afterthought once they get to that point. As far as actually money, I don't think it could be done successfully without many millions of dollars, a rock solid payment application, and some existing customer base that will allow for rapid growth, think ebay. There's offshore processors that allow aggregating account, but these often have 5 - 10% processing rates which is cost prohibitive for most business types. If they're really serious about setting this up they need to figure out how to get in contact with Visa and MC and find out what it takes to become a 3rd party processor. There's not a book or even an article on how to accomplish this, as very few have. It's going to take some diligence just to get a straight answer from an acquiring bank or Visa or MC.
That may be true for a Payment Processor, But its not enough hard to start a payment Gateway. Yes one can process Credit card payments if one who licensed from a Processing company. Digg,, into deeper, googling will help.