Merchant processor/Joint Venture?

[playboy]

I need some help processing credit card payments for my software business. You will set up a merchant account, put the card data in, and send me money by LR or WebMoney. 10% holdback for 6 months(to deal with any chargebacks) and processor will get 20% cut of the proceeds. This could net 15k euro in just a month for you. Interested? This is good money and so little work!

 

[howlerckc]

Guys, hate to state this but anyone wanting you to setup the Merchant Account, wants you to swing for the liability. People think they can beat chargebacks, but when it comes to fraudulent charges there is no fighting them.

 

[cfnmedia]

There are a few different ways to try and stay under the radar with different offline tactics. Depends on the business model tho. I know alot of the software market since I ran an online software company for the last 3 years processing $500,000/month.

 

[PabloEscobar]

This has credit card fraud written all over it....

 

[bradsteves]

This has credit card fraud written all over it....

and potential criminal implications. See money laundering laws, etc.

Could be entirely legit, but I'd urge members to be cautious pursuing such a relationship. Validate, validate, etc.

 

[Whisker]

Could be entirely legit

Nah, it couldn't be really. Anyone wanting you to process for them is too afraid/shady to have it setup through their own means. There are plenty of high risk processors out there that will accept almost any model(porn, pills, etc).

Also, if paying out through libery reserve/webmoney doesn't raise a red flag for you, lol.

 

[GreenGoblin]

if he's offering 10% hold back for chargebacks then it should be somewhat legit, processors offer that same solution for chargebacks however, u should consider a high risk merchant account for this type of business. Domestic merchant accounts are not the best resource just for the simple fact 1% of chargebacks are considered high. Most people who don't beat chargebacks off there own merchant account don't understand the law or and "Friendly Fraud" anyway that's another topic in itself. If you selling software use a high risk merchant account.

 

[bryanon]

Nah, it couldn't be really. Anyone wanting you to process for them is too afraid/shady to have it setup through their own means. There are plenty of high risk processors out there that will accept almost any model(porn, pills, etc).

Also, if paying out through libery reserve/webmoney doesn't raise a red flag for you, lol.

Exactly. Even if the business itself is indeed legit (which, too, is doubtable), YOU would still be liable for paying taxes as I seriously doubt that OP will invoice you for the money you'll send them via LR.

@OP: If everything's legit then why not go with a 3rd party processor, pay them 5% (instead of the 20 you're offering us) and live happily ever after!

(should be banned for trying to scam other bhw members imo)