What steps are required to build a new payment gateway?
Payments
Asked by Question Bot04/Oct/20121 answer
1 Answer
F
Faisal Khan
Answered 04/Oct/2012
The legal process depends where in the world you are starting your payment gateway from. In certain countries, payment systems are regulated by the Financial Regulator (typically the Central Bank). On the flip side in many developed economies, they are not regulated.
Typically any step in the direction of creating your own payment gateway typically means aligning yourself with an acquiring bank that provides the necessary APIs for you to setup your own payment gateway. Depending on how 'advance' your payment gateway would be, you might need to invest in a CTL (Credit, Tenant, Leasing) software to do merchant and account management. Very few actually opt for this outright.
You may also want to look at the following Question/Answer: How does one start a payment gateway?
Typically any step in the direction of creating your own payment gateway typically means aligning yourself with an acquiring bank that provides the necessary APIs for you to setup your own payment gateway. Depending on how 'advance' your payment gateway would be, you might need to invest in a CTL (Credit, Tenant, Leasing) software to do merchant and account management. Very few actually opt for this outright.
You may also want to look at the following Question/Answer: How does one start a payment gateway?