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Thread: Paypal like site

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    JOSHMONGAN's Avatar
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    Paypal like site

    Other than just a paypal like script, what all would someone need to make a site like paypal. Would I just be able to go to my bank and open a merchant account so my company could allow its users to accept credit card payments as well as payments from mypayment site. Im not sure how this would work does anyone know the different steps it would take to have a site like this. Thanks

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    ScriptCopy lists 21 PayPal clone scripts.

    Unfortunately, that's the easy part.

    The hard part is that PayPal had to negotiate licenses in all of these states -- and an even longer list of foreign countries.

    Government makes everything harder.
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    I would not recommend to start anything like this. The fraud chances are just too high!
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    Trying to start a business like this will have a massive number of complications. You'll need the funds to start it up, the technological expertise to manage it and reduce or eliminate the chances of something going wrong, you'll need staff to answer support requests and manage disputes, you'll need the legal go-ahead to do something like this, since you'll be working with finances you'll have to collect and record detailed information to prevent fraud and the use of your services for terrorism. You'll need lawyers to write documents and work on the aforementioned go-ahead procedures.

    Finally, let's assume you get it all setup and running -
    Why would we use your service over PayPal or MoneyBookers or even AlertPay?

    You'll need people to trust you. You'll need new and innovative features.
    You'll need to get your service widespread enough for it to be worthwhile for people to work with it.

    My advice? Don't even bother. Find something else to invest time into.

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    You may be able to set up a barter exchange type system. But as discussed there are too many hurdles to cross in order to make this happen.

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    JOSHMONGAN's Avatar
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    Thanks for all the advice

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