Processing incoming payments and sending payments simultaneously

I want to set up a site where I connect consumers with service providers. Consumers choose their provider through me and provide payment. When I receive the payment, I want to automatically skim a certain percentage off the top, and send the remainder to the service provider.

How should I go about trying to set a system like this up?

 

Can't do it. At least you can't with credit cards. It's basically called factoring, and is not allowed by the card issuers. The reason is that if there is an unhappy customer it becomes unclear whom is responsible for refunding that person. As far as I know, no processor allows this. Paypal is supposed to allow aggregating in the near future which may allow this, but you will need to look at their specific policies to see if it works for your business model.

http://www.techcrunch.com/2009/07/0...dgling-payment-service-with-a-new-secret-api/

 

Thanks. That basically looks like what I want to do. I wonder when that will roll out.

 

You may create Payment process and do reminds through cron job

 

Almost every business that has commercial accounts receivable can qualify. Factor Company is the direct financial service provider. Factoring is the financial transaction where by a business sells its account receivable to a third party at a discount exchange for immediate money.