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That's true. What I was hoping to do was offer payments for a specific niche. But if I have to build a full payment service, I may as well offer payments for
by coglethorpe 18y ago
That's true. What I was hoping to do was offer payments for a specific niche. But if I have to build a full payment service, I may as well offer payments for all sorts of things. There are many players who offer generic payments, PayPal and Authorize.net to name two.
I wasn't going to offer merchant solutions or shopping cart integration like others do, but it looks as if I'm going to act as a third party, I may as well set up the whole thing. 1.5 million in legal costs alone might be far to steep a barrier to entry for just one niche.
- swombat 18y agoWhy not re-use one of the numerous existing payment gateways? Most of them take only a very small cut if you have large enough volumes, and it'll save you a lot of hassle. Even integrating with an existing gateway is a lot of hassle - writing your own is considerably more painful.
- coglethorpe 18y agoIt's my understanding that they don't allow a person to act as a third party between two other people's accounts. That's essentially what a gateway does, so I can see why they don't want n-tier gateways.
- swombat 18y agoI don't think the banks will allow you to do that either. Transfers are always to a merchant account. You'll have to build your own Paypal-style account system to allow transfers between users.