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http://www.namepros.com/website-development/257604-payment-processor-scripts.html

That was my payment processor thread that is in the "web development" section. Anyway, I'm looking for some interested parties in a business venture into a new payment processor, not just a Paypal clone. As you may know, there are other payment processors out there, such as Alert Pay for example.

The industry is unregulated, the industry isn't saturated, there are many promises to a venture like this. If you're a programmer, you could join the LLP and while saving us alot of $$$ in development, you are guaranteed ownership + profit sharing.

The LLP will be created in New Jersey if all goes well, so you should be able to come here to handle the legal aspects of such a venture, but you wouldn't have to relocate here or anything. I'm looking for three types of people:

A marketing guru, a business savvy person, someone who has ideas and alot of motivation. This person should be a self-motivator, loyal, easy to get along with and most of all, optimistic.

A web developer that can either lead a web developing team, optimistic, easy going, loyal, also someone that has ideas, a leader, not just someone who takes orders.

The last type I'm looking for is someone who has some $$$, not to invest alot of $$$ into this venture, but someone that will be willing to contribute $$$ to the cause when we need it. As it will be formed as an LLP, the LLP will have its own account, so once it's up and running, there won't be anymore need for financial contributions, you will then have ownership in a promising new company. ;)

I bring three types to the table, I know a lil about programming, but I'm far from being a guru ha. I am a great marketer, I can market this project day and night, I can drive the traffic. I also know a thing or two about business, I'm self-motivated, I'm optimistic [obviously], I have $$$ to contribute to the cause [even though I'm by far wealthy] So all in all, I can probably fit into all three categories.

If you're interested, you should probably contact me by pm, but you can just reply here if you'd like. I have some ideas on how it should run, I can show everyone a demo of the epay script [a really bad script I hear] not so we will use that script, just to look at the backend of the script.

There's two focuses in this industry, business-to-business relations, and business-to-consumer relations, so you need to market to the both of them in two different ways. The best way to find businesses interested in using your services is by simply contacting them, there should be no reason why a business wouldn't accept another way to do business, but that's uncertain.

The focus on the consumer is a promise of an alternative to paypal, we can work with anyone [any business] something Paypal doesn't do, they are picky as is adsense when it comes to that. We can offer incentives to join, we can have an auction system implemented as does Paypal.

The difference between us and the rest would be customer satisfaction, we should listen to customers, that if fees are uneven in certain areas, that we should fix the problem, something Paypal never does. Paypal pretty much ignores its customers, that's because they believe they have a monopoly over the industry, so they don't really care about customer satisfaction.

Anyway, if you're interested, let me know :D
 
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Hi,

Have you actually looked into this, legally? Because I have, and I think you completely underestimate this market and it's requirements.

To become a payment processor, you DO need to be regulated. You think they let any old Average Joe become one? Hell no. You have certain financial liabilities, much along the lines of banks. Nobody can just 'start' a bank, you need to have the funds available, and this is also the case with Payment Processors.

Unless I'm mistaken, there's a certain MINIMUM amount of funds that you, as a payment processor, need to have within your business at all times. Think in the hundreds of thousands of pounds, by the way. You need this to ensure you can cover all potential transactions involved - much like Banks need to have somewhere in excess of £1,000,000 available at all times. I'm not saying this what you need for a Payment Processor, but it's definitely a high figure. There's a reason this market isn't so saturated, and that's because it's expensive to get into.

That said, things may work differently in Jersey, but I've looked into this for the UK and contacted many people and realised that it's basically a pipe dream unless you have hundreds of thousands of pounds available to you - and I don't. Not many people do, eh? :)

Still, if you've done your homework and you're in the position to get this going, I'd be more than happy to lend you any/all technical knowledge I have. Feel free to contact me if you're interested and still looking for help. Otherwise, good luck with your project :)
 
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