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My friend does it, he operates a company (In NYC) which accepts the payments and he then wires the creators after holding back X% in reserve fee less the servic
by savgeborn 8y ago
My friend does it, he operates a company (In NYC) which accepts the payments and he then wires the creators after holding back X% in reserve fee less the service fee
He's been doing it for a while (4 years) now averaging 500K per month in payments.
All his customers are people from third world or second world countries like Russia, India etc...where accepting international credit cards is bit difficult and probably has more fees.
He raises invoices in his own company name then the creators are written off as independent contractors.
So creators will need to do their own taxes.
He's using Braintree and Stripe and load balancing between these two.
He's one man show and knows nothing about law/accounting.
He also got one accountant who is helping him calculate and make financial reports
It can be done I guess