I am working on a business model currently and one of the core tenants of the business is setting up an easier way for people to deal with payments. The business is a specialized auction site. Right now the competition is still doing things through snail mail (money orders, USPS money orders, personal checks) and limited credit card processing.
I need pointers and advice on how to go about setting up an account/accounts that are attached to the site that people can transfer money into directly from there back accounts and pay each other with. Something similar to how you can transfer money into and out an PayPal account from your bank, but the “PayPal” account needs to be something hosted by my site.
The closest I can come to right now is open a single back account people can transfer money into/out of and each person only has access to the money they have put in.
If someone knows of a payment processing expert I could be referred to also that would be helpful.
If this doesn’t make sense please let me know and I will expand.
Thank you for your time, it is greatly appreciated.
I need pointers and advice on how to go about setting up an account/accounts that are attached to the site that people can transfer money into directly from there back accounts and pay each other with. Something similar to how you can transfer money into and out an PayPal account from your bank, but the “PayPal” account needs to be something hosted by my site.
The closest I can come to right now is open a single back account people can transfer money into/out of and each person only has access to the money they have put in.
If someone knows of a payment processing expert I could be referred to also that would be helpful.
If this doesn’t make sense please let me know and I will expand.
Thank you for your time, it is greatly appreciated.
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