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Starting my own PSP

AlexB

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Nov 27, 2020
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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!
 
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@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.
 
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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!
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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