starting credit card company
 

Anyone know how much it would cost to setup brand new credit card company like Visa/Mastercard? Putting marketing/advertising costs aside, how much do you think it would cost?

:1orglaugh

Not much.... around a billion in promo to start, plenty lawyers fees and you'll need to kidnap a few bank managers worldwide.

Reckon 2 weeks work....

In some states the capital requirements to start a bank is only about 200K.

That much??? I can get one for $20K.. but it ain't worth :2 cents: :2 cents: - kinda like yours at $200K :)

start one in africa

y, I can start one in africa and then send those emails to people telling them that I'll give them 10million if they give me 25K in handling fee! LOL

I want to start a credit card and charge a $750 registration fee for churches and non-profits. For everyone else it it will be free.

You'd have to be in the Bill Gates league if you're talking giving MC and VISA a head on run for the money. You'd need billions to do it right worldwide.

Shit just the printing costs alone for all the little stickers, signs, forms, etc. for every retailer would set you back a ton of bucks.

fuck that.. u want visa and mastercard to notice u, buy out discovery and promote it like wild

Nice idea, man ! :1orglaugh Are you Bill Gates ? :winkwink:

Are you jewish?
if not, you better start a TGP like everybody :thumbsup

Well, what are all you guys going to do when Visa/Mastercard stop processing porn?

You don't have to give Visa/Mastercard run for money. When Visa/Mastercard gets even crazy with fees or exits market, webmasters will look for alternatives and consumers will follow. People will find a way to pay for porn.

I wonder how much it would cost to start a paypal type thing...

but exclusively for porn

I don't think making it explosively for porn would be best thing. When husband gets new card to pay for porn and wife finds out that it is only good for pornsites, it wouldn't be good.

Stormpay?

The thing about a paypal type service is that it is still vulnerable. If Visa/Mastercard or others don't want to do porn, they can make that happen. Whether inside or outside the US, they can dictate who and what kind of businesses they want to do business with.

If the next US president is another religious wacko like Bush is, it seems likely that we can see further pressure on Visa/Mastercard to stop processing porn.

In order to start a credit card that has any viability you would need two things.
1. Distribution. How will you get the cards into the hands of the end users? How many cards can you get into the hands of the end users in how fast a time frame?
2. Acceptance. If merchants can't accept your card then you're dead. Making changing to POS terminal software and so on is a lengthy and expensive process and merchants and hardware leaseback agents are not going to pay for it.

So what do you do?

The critical mass number is somewhere in the 6 million users range and I'm not sure the number of accepting merchants, in order to have a semi-viable solution.

It's a Catch22 basically at this point -- you have no merchants you get no users, you have no users then merchants have no reason to accept...

Discover could do what they did because they gave every Sears card holder the marketing blitz initially to get a Discover and charged them way less for using it than their Sears card... and given that at one point Sears was the largest consumer financial services lender, that carried alot of weight.

However, the inability to move past the closed loop has kept Amex and Discover WAY out of the market share compared to Mastercard and Visa. Same problem CarteBlanche and DinersClub have, and they've been around forever...

If you cannot get the banks on board to run interchange and issuance for you, then there is no product. Not on a level that would even begin to compete with MC or Visa.