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Processing credit card transactions
We need a solution for processing credit card transactions for our website
Tupsi




msg:4062276
 4:28 am on Jan 17, 2010 (gmt 0)

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?

 

C7Mike




msg:4064352
 5:02 pm on Jan 20, 2010 (gmt 0)

"Can we process the payment ourselves?"

Because of the risks involved with the financial transactions, I would exhaust my efforts looking for a compatible service to use rather than try to process the payment myself.

You may try looking at non-profit website payment processors as they have to accommodate a wide variety of payment methods and fund raising business models, including auctions.

stivare




msg:4068583
 11:45 pm on Jan 26, 2010 (gmt 0)

Hi Tupsi,

Did you find a solution to your problem?

Thanks
Su

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