Starting my own PSP

[AlexB]

Hello all,

I was reading these forums for a long time but never really posted anything. I noticed that everyone has massive issues with acquiring any payment solutions for their high and medium risk businesses, including myself. So, i decided to create my own PSP.

Now, we are working on getting the platform done and already started integrating various payment providers, mostly for difficult markets. My 2nd business, besides FX, is payments consultancy so i do have plenty of payment providers to integrate.

I was wondering if there are any heads up to really have in mind when starting this kind of business or simply go all in. You need to take into consideration that my business, when launched will be 100% legit and not looking to go to jail or scam anyone 🙂

Main focus for us is the gambling, adult and fx industries, already having integrated solutions for China, India and Europe is next. Any heads up is much appreciated!

 

[CaptK]

Put a high limit for running balance for charge backs otherwise good luck. I'm sure you will get a lot of business from it.

 

[Willblack]

Give me a solution for an EU-based cryptocurrency exchange to accept client card payments for under 5% fee, and you got yourself a client for life.

 

[no1d]

@AlexB well done, I'm subscribed! I would like to have easy recurring transactions and one-click payments.

Its fu**ing hard to find a good reliable PSP for grey business. Most high-risk PSPs I have tried have complicated pop-ups and redirects that decrease conversion rate.

Maybe you can help me with some suggestions, my current business is prize competitions.

Last edited: Apr 1, 2021

 

[billydanze]

Willblack said:
Give me a solution for an EU-based cryptocurrency exchange to accept client card payments for under 5% fee, and you got yourself a client for life.
Click to expand...

Does your Cryptocurrency exchange has a license, even if it is from Estonia? If yes, then I have a solution that you might want to try...

 

[Cryptobabaji]

were you successful with your psp. we operate in india and europe, needs funds in and out.
@billydanze we have the licence please mention which solution is it

 

[cryptounions]

Cryptobabaji said:
were you successful with your psp. we operate in india and europe, needs funds in and out.
@billydanze we have the licence please mention which solution is it
Click to expand...

what business are you running?

 

[Cryptobabaji]

cryptoexchange -- with 5 fiat pairs ,estonia based but running in india also

 

[mareinis]

Willblack said:
Give me a solution for an EU-based cryptocurrency exchange to accept client card payments for under 5% fee, and you got yourself a client for life.
Click to expand...

We can. What a problem to acquire ? A lot of companies can do it below 5%.

 

[Willblack]

mareinis said:
We can. What a problem to acquire ? A lot of companies can do it below 5%.
Click to expand...

We have no processing history since not a single provider has offered us below 5% for acquiring.
If that isn't a problem, we are based in the EU and can get in touch.

 

[uplana]

AlexB said:
Main focus for us is the gambling, adult and fx industries, already having integrated solutions for China, India and Europe is next. Any heads up is much appreciated!
Click to expand...

with the best intention you may have then I believe you will have to go slow. Most of payment processors which are new in this business will not last long, my own rule is always to wait a year before I put any money through such a processor.

It does not need to be your fault, there are so many SCAM merchant's too which try to rip you off. Convince you to get the money out faster and leave you with large CB numbers is just the most popular method.

Other then this, go for it, take it slowly, such an operation will cost you a lot of money anyway so you need to budget with at least 1 year of operation costs without profits.

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[VicMcG]

Hi Alex.
Are you still operational? I would like to discuss a potential collaboration as I work in the payments solutions industry and we always get a lot of FX/Crypto merchants (licensed & unlicensed) looking for payment solutions.