We are a new merchant planning on launching a website for the sale of goods through reverse auction. Initially we'll reserve a deposit against the buyer’s payment instrument. If the auction has a winning seller we transfer the reserved deposit to the seller while we keep a site servicing charge for ourselves.
Initially we decided to go with Amazon FPS but later discovered they do not permit auctions. PayPal has too many issues. Now we want to go with Authorize.net as our gateway and maybe get a merchant account with Wells Fargo. But apparently VISA does not allow aggregation. What other option do we have? Can we process the payment ourselves? Can we redesign our business model? How do escrows work? Can they be of any help?