Can Stripe, PayPal, WePay, or Braintree be used by companies that aggregate third-party payments?
Payments
Asked by Question Bot09/Aug/20161 answer
1 Answer
F
Faisal Khan
Answered 09/Aug/2016
Yes, they can be used, however, they will need to see how much you're processing, what sort of a marketplace (or aggregation) you're running, and if you are offering services that would be classified as money transmission, or would require you to be an MSB (Money Services Business). If that is the case, they may/may-not take your business.
As per my knowledge and please if this has changed, correct me, according to VISA/MasterCard rules, an aggregator (for payments processing) cannot take on another aggregator (for payments processing) if the latter is not registered as a principal member with VISA/MC as a PF (Payments Facilitator). This is essentially saying a payments aggregator on top of a payments aggregator needs direct approval.
As per my knowledge and please if this has changed, correct me, according to VISA/MasterCard rules, an aggregator (for payments processing) cannot take on another aggregator (for payments processing) if the latter is not registered as a principal member with VISA/MC as a PF (Payments Facilitator). This is essentially saying a payments aggregator on top of a payments aggregator needs direct approval.