Merchant processor/Joint Venture?

P

playboy

Regular Member

Mar 7, 2010

266

56

• Apr 13, 2010

• #1

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!

 

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howlerckc

Registered Member

Nov 6, 2008

62

55

• Apr 13, 2010

• #2

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.

 

C

cfnmedia

Newbie

Apr 26, 2010

10

1

• Apr 30, 2010

• #3

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.

 

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PabloEscobar

Junior Member

Jan 9, 2010

152

45

• Apr 30, 2010

• #4

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

 

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bradsteves

Registered Member

Nov 23, 2009

79

12

• May 13, 2010

• #5

PabloEscobar said:

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

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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

Senior Member

Dec 26, 2007

841

1,335

• May 13, 2010

• #6

bradsteves said:

Could be entirely legit

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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.

 

Last edited: May 13, 2010

GreenGoblin

BANNED

Jul 17, 2008

1,492

2,581

• May 13, 2010

• #7

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.

 

Last edited: May 13, 2010

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bryanon

Supreme Member

Oct 16, 2009

1,343

1,520

• May 14, 2010

• #8

WhiskerBiscuit said:

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.

Click to expand...

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)