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Given that my startup I not only had people paying me money and then turning it around and giving it out to others, I definitely know that pain. I just totally
by sachinag 17y ago
Given that my startup I not only had people paying me money and then turning it around and giving it out to others, I definitely know that pain. I just totally thought of it as core to the product; people generally have asked me about gateways and whatnot when they have their "ohmygodIhavethisidea" conversations with me.
This was more about the stuff they didn't ask about that they should have, but your point is exceptionally well taken - people who are picking a revenue model should support that revenue model before launch.
- boundlessdreamz 17y agoAre you acting as middleman ? In the sense, people are paying you money for products/services you don't own ? (An example would be online travel companies) If that is the case, which gateway did you choose. From the gateways I spoke to this type of operation is difficult to get approved unless the final vendor itself has a merchant account. Was that the case in your startup?
- sachinag 17y agoYes, Dawdle.com acts as a middleman between buyers and sellers. We got a merchant account through Paymentech and used Payflow Pro as our gateway to take money in and used PayPal's Mass Pay API to send money out (after an aborted attempt to use ACH for disbursement). Dawdle is the merchant of record and so holds the proceeds in escrow for some period of time to mitigate risk.