Serious question: Does anyone know how to start a "payment gateway " business like Paypal ??

Serious question: Does anyone know how to start a "payment gateway " business like Paypal ??

Quarantine has got my mind asking for question and curiosity taking over.
Business owners online/ frequent users of other "payment gateway"

How do i start a "payment gateway " business like Paypal ??

ps im not from US im from Australia and have no clue what to do

Quote Mark

Best Answer

You need to look at payment services providers. There are a lot of them! Competition is staunch and unless you have millions under the maytress and something they can't offer, then I'm sorry to say, but you have nothing.

Other points

You should have a licence from government wherever you plan to do business. In EU it's an electronic money license, for example. So PayPal usually holds relevant EM license for every country where it operates. Working without license usually considered as financial offence/fraud. So, for example, if you want to have customers from UK (regardless where you have headquarters), you should obtain licence from FCA first.

Question asked by

u/merchantfromdafuture

Date

June 30, 2020, 2:32:09 PM

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