Buying The impossible task: Build a payment processing service !

Discussion in 'Services' started by medaa25, Jun 23, 2012.

  1. #1
    I have an idea that involves building an entirely new payment processing service, a bit like paypal, 2checkout. I am looking for people capable of programming such a huge technical platform. My aim is to have amazon use that payment processing service and then sell the platform to investors.

    No, am not crazy, there is a gap in a forgotten market and am planning to put be the first one to do it. I won't go into the details and I don't think it's necessary for you to know it just yet.

    Partnership for the right people available. I live in France but partners from all over the world accepted.
     
    medaa25, Jun 23, 2012 IP
  2. Sk Nepal

    Sk Nepal Well-Known Member

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    #2
    I wish you luck for whatever it is you are trying to accomplish.

    Well, building a payment processing service is not at all impossible, beating PayPal and getting amazon to use that payment processing is. Anyways, good luck.
     
    Sk Nepal, Jun 23, 2012 IP
  3. Objects

    Objects Well-Known Member

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    #3
    Its tough job but not impossible, and development we can do but main issue you will face legal and banking issues.
     
    Objects, Jun 23, 2012 IP
  4. Cucumba123

    Cucumba123 Well-Known Member

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    #4
    Unless you are sitting on a fat budget, it's impossible. You may afford development and server costs but be prepared for some legal work and headache.
     
    Cucumba123, Jun 23, 2012 IP
  5. hanky_panky

    hanky_panky Member

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    #5
    Yes definitely its possible. We have need different payment processor which will fulfill our requirement. By using paypal we do not transfer money paypal to another payment processor. If you add some cool and exclusive features those features not available in other payment processor then definitely you will success.

    One rule that demand=supply then you could get success. We hope that you could make a new payment processor and we will use it in near future. Definitely I will use it.
     
    hanky_panky, Jun 23, 2012 IP
  6. matt_62

    matt_62 Prominent Member

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    #6
    hey sounds like you have yourself a great idea. Just be sure to do alot of market research though and that your target end-user price is realistic at a price that will sell to your target group, while allowing you to recoup development costs.

    Personally, what has stopped me from hiring developers for some of my own projects is trust. Theres always the worry that it can be resold (and this happens all the time). I would like to suggest that you look into companies in france, and see what their rates are. This way you can have contracts signed up so that they wont resell the script themselves.
     
    matt_62, Jun 23, 2012 IP
  7. Laceygirl

    Laceygirl Notable Member

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    #7
    Possible yes. realistic no.
    Do I think you are actually crazy?
    Yes, you have to be. That's a pretty large thing.
     
    Laceygirl, Jun 23, 2012 IP
  8. hostmyxxx

    hostmyxxx Peon

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    #8
    See here is a problem, in a lot of jurisdictions, payment processors like PayPal are considered to be a bank, since they are facilitating wire services. In other jurisdiction they are still a financial institution that i subject to a great deal of laws. It's horribly expensive, not for the tech part (although that will be quite expensive due to privacy compliance), but mainly the actual backend physical, regulatory compliance. Additionally, Amazon has a payment service already.

    But if you are able to do it, good luck!! I'd say forget about getting a developer now, get a strong business plan and get investors. You are not selling a website, but a service, that website is a means of sales, not the core of the service.
     
    hostmyxxx, Jun 26, 2012 IP