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Opening My own credit card processing company

Discussion in 'Making Money' started by wseo12, Oct 28, 2009.

  1. wseo12

    wseo12 Regular Member

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    hi every body does any body know how i can open my own merchant credit card processing company i want to be the actual credit card processor any help on how to get started will be appreciated please
     
  2. wseo12

    wseo12 Regular Member

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    Any Body?
     
  3. trafficsource

    trafficsource Jr. VIP Jr. VIP Premium Member

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    call to bank
     
  4. wseo12

    wseo12 Regular Member

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    I think you misunderstood me i am try to open my own credit card processing company so i can actually be the processor and process credit cards for merchants any help please
     
  5. Defon

    Defon Regular Member

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    yes money and then some lawyers, then some more money, then some accountants, then some mroe money for insurance... and money.

    I think that covers it.
    LOL!!

    Contact Visa and master card. The are always looking for new vendors to make more money for them.
     
  6. oxonbeef

    oxonbeef BANNED BANNED

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    Get yourself CISP compliant. Then apply to all the CC companies. It'll cost you
    between $10 and $30k a year to be CISP compliant alone. Then you will need
    something a bit stronger than SSL for your servers.
    And make sure you've never as much as farted in Sunday school
    before you apply.
     
    • Thanks Thanks x 1
    Last edited: Oct 28, 2009
  7. wseo12

    wseo12 Regular Member

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    so what your saying is i should i contact visa or master card to get started ?
     
  8. TheTRUTH

    TheTRUTH Regular Member

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    Not any east task..Mos def not a good idea for a startup buisness..You need to be already established with capital or investors.Even then success will be the biggest challange.

    An example of a recenlty started CC proccesing company is Revolution Money Exchange, they are backed by investments from U.S.Bank and AOL.Capital is a must
     
  9. MrSmith

    MrSmith Newbie

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    Unless you sit on a pile of money with no end to it, I honestly think there are a couple of other businesses you could do before becoming your own CC processing company. Think about the systems they've invested for fraud-detection ....I believe there's like 10-15% trying to fraud my site every day; especially when I get emails from mail.ru's asking why they cannot sign up with 'their' creditcard. Uh huh ;)