Accepting Credit Cards, ACH -- with Factoring...

deStone

deStone

New member
Oct 5, 2007
179
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Overland Park, KS
Hey,

Starting with a site that basically is monitized by 'factoring' ...
aka:

member of group -> pays site -> site scrapes off % -> site pays group.

Kind of a debt collection model ... I'm wanting to setup credit card payments, ach payments, and reoccurring payments (via both methods) ...

Paypal + many other payment gateways have a problem with collecting funds and then redistributing them ... mainly cause visa / mastercard receive so many chargebacks -- Does anyone have a good provider I can build this site around?
 


You'll want to avoid the use of the word "factoring" when speaking with merchant account providers, in their world that means "I want to get a merchant account under my name and process order for my shady friend over here who couldn't qualify for his own because you guys banned him for fraud/excessive chargebacks/factoring for others"

The term you'll want to use is "rebate club" or "buyers club" but you'll probably still need a high risk account since most domestic merchants don't want to bother with these.
 
Maybe collections was a bad term for it... I would say I am just helping groups by giving a value-added service that also allows their members to pay their dues online (make donations, etc)....

Thanks for the info guys -- I'll look into a high risk merchant account :)
 
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