Setting up cc processing? What would it take?
 

Got a client who's playing with the idea of setting up a billing/cc processing company. From the sound of it he clearly has the funding, but would like to know what other things would be needed.

So, anyone with any experience with this? Bank accounts, legal issues, staffing, support, amount of money needed? VISA/MC connections?

I'd really appreciate it if you have any input and would like to share. If this place is too public for you to do so, feel free to shoot me an e-mail, damagex at sexxfree dot net. Thanks, appreciate the help. :thumbsup

i have heard there will be no new 3rd party processors, but you never know what visa/mastercard will allow

Can't you bypass that?

how would you bypass it? i mean lets be real here. you want to do it legal so why would you try to take a back route.

maybe buy one in good standing

If it is in good standing then it'll cost a hell of a lot more than setting up a completely new one.

Are you talking about a 3rd party billing company or setting up merchant accounts for people? Also, are you talking for the US or Europe or what area?

Your looking at around $2,500 to $15,000 to get a merchant account in the US for 3rd party billing. You cann't get one in the US for adult 3rd party billing anymore. If you want to get a merchant account to do 3rd party billing in Europe, you'll need to be able to do a couple of $100,000 in transactions each month which shouldn't be a problem. It will only cost around $4,000 for a Master Merchant Account in Europe. You can still get a merchant account in Europe for adult 3rd party billing.

If your going to get a merchant account in the US to do 3rd party billing and not tell them know your going to be doing it for adult. Just be careful. You might find yourself with a heap of fines and out of business with in a month.

If you have specific questions or just want to talk over the phone, send me a email at
gfy AT axx DOT net

Thanks icedemon, great post, will shoot you an e-mail tomorrow with some other questions. Just about to call it a night now.

hi

so that would mean - if anyone set up a merchant account in Europe for adult 3rd party billing, he would be all set ?


at soo little cost ?

then why arent there much more around ?

Just wondering

michael

You can only process for companies that are in the same area as where your merchant account is from for 3rd party billing. So if you get a Master Merchant Account in Europe for 3rd party billing. You can only accept European companies. You can't take in US companies, unless you also have a merchant account in the US for 3rd party billing (which is getting harder to do and unable to do for adult).

I'm not sure why there are not more 3rd party billing companies in Europe. I think the only setback is that you have to be able to do a couple of $100,000 in transactions each month. You also have to have a programmer get all the programming done for a 3rd party billing company.

I would get a european merchant account for 3rd party billing, but I'm not sure if I can bring in the amount of transactions needed each month to get it.

how come no one is issuing merchant accounts in the Us a of late?
wtf happened?