Digital business model that payment gateways welcome with open arms?

[Beconza]

God day people of offshore. So I need a business model and payment gateway that will allow 50 to 100 of my customers ( whom I personally know) to pay me up using their own debit cards. There won't be charge backs. I will not be selling real goods or services but I will be giving these customers crypto via Binance in exchange for the money the pay me via the payment gateway. All the cards that will be used are personally owned by the customers whom I know, no fraud or scam attached. Please suggest something easier that can be done using UK LTd company. Thank you

 

[MiltonStone]

Please suggest something easier that can be done using UK LTd company. Thank you

Ohh yeah, no fraud or scam attached. Please ear in mind that the time where launderers and online gambling people could wash the money that way is over. Most payment gateways have fraud protection and they will catch this pattern in a day or two.

 

[Beconza]

Ohh yeah, no fraud or scam attached. Please ear in mind that the time where launderers and online gambling people could wash the money that way is over. Most payment gateways have fraud protection and they will catch this pattern in a day or two.

Dear Milton. The reason behind this business model is not money laundering. Banks in the customer's country offer dollar rate 40% cheaper when a debit card is used in international transaction compared to the parallel market rate. So what we do is basically fund these cards, buy something online in dollar that can be sold at the parallel market's rate online, specifically crypto currency (p2p). So you see, the money deposited is coming back to the country, just the profit made from the bank's rate.

 

[NicolasMaduro]

You want to use something like Stripe Billing.

 

[Beconza]

You want to use something like Stripe Billing.

Yes. I already am using stripe using a UK LTd but last week I was asked to submit proof of product. The company was formed under automotive so I am having hard time proving the products I sell.

 

[MiltonStone]

Dear Milton. The reason behind this business model is not money laundering. Banks in the customer's country offer dollar rate 40% cheaper when a debit card is used in international transaction compared to the parallel market rate. So what we do is basically fund these cards, buy something online in dollar that can be sold at the parallel market's rate online, specifically crypto currency (p2p). So you see, the money deposited is coming back to the country, just the profit made from the bank's rate.

that make sense. But you will get your account closed quickly with a merchant account provider!

 

[Beconza]

that make sense. But you will get your account closed quickly with a merchant account provider!

Well that is not good news. So can suggest any business model that'll at least give me some edge when asked to verify the services rendered?

 

[Xamilow]

God day people of offshore. So I need a business model and payment gateway that will allow 50 to 100 of my customers ( whom I personally know) to pay me up using their own debit cards. There won't be charge backs. I will not be selling real goods or services but I will be giving these customers crypto via Binance in exchange for the money the pay me via the payment gateway. All the cards that will be used are personally owned by the customers whom I know, no fraud or scam attached. Please suggest something easier that can be done using UK LTd company. Thank you

Which bank are you using in your LTD?

 

[Spinat]

This business model is never going to work with any payment processor unless you find one that is doing mixing of transactions and other stuff like this.

 

[bonox]

The better your business is setup i.e. company, website and service / product the easier it is to be approved for the merchant account.

Business with physical goods are more welcome than services.