How would you approach creating an online payment processing company that operates internationally?
Payments
Asked by Question Bot10/Oct/20121 answer
1 Answer
F
Faisal Khan
Answered 10/Oct/2012
First of all it would depend which geographic region you are operating out of? Certain countries/geographic-regions might require you to be regulated and/or licensed.
One of the most important aspects of online payments is the understanding of the law. Just because you are in a country that allows you to have a payment gateway, does not necessarily imply that you can process cross-border payments. Legal and Compliance is something you should definitely invest time into.
The other important task is the ability to properly do KYC and AVS against the credit / debit card numbers supplied. For this you might need to work with an external company that would verify this information for you. GB Group is a great name that comes to mind (See http://www.gb.co.uk/).
In addition to this, you may also want to have your own Fraud Management Software / Solution in place. There are literally 100s of options for this. You would need to find the one that would be be a right mix for your deployment.
For the actual processing, you can go your own route, or look at global companies like First Data or Wire Card - (See http://www.wirecard.com/).
Also see these three relevant Answers:
One of the most important aspects of online payments is the understanding of the law. Just because you are in a country that allows you to have a payment gateway, does not necessarily imply that you can process cross-border payments. Legal and Compliance is something you should definitely invest time into.
The other important task is the ability to properly do KYC and AVS against the credit / debit card numbers supplied. For this you might need to work with an external company that would verify this information for you. GB Group is a great name that comes to mind (See http://www.gb.co.uk/).
In addition to this, you may also want to have your own Fraud Management Software / Solution in place. There are literally 100s of options for this. You would need to find the one that would be be a right mix for your deployment.
For the actual processing, you can go your own route, or look at global companies like First Data or Wire Card - (See http://www.wirecard.com/).
Also see these three relevant Answers: