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How develop a payment processing company like Authorize.net, others ?

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How develop a payment processing company like Authorize.net, others ?
Hi All

What technology and other things are needed to create a payment processing company?

Transaction engine, agreements with cc companies, offer merchant accounts, other things....

Companies like WorldPay, Authorize.net, SkipJack, many others.

I know it's kind of insane, but what the heck, curious.

Many thanks Smile

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Last edited by:

DogTags: Nov 7, 2003, 5:45 AM
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Re: [DogTags] How develop a payment processing company like Authorize.net, others ? In reply to
I think the answer probably varies a little bit depending on exactly what you mean by "payment processing company", since there are a few different models out there. But Authorize.net, for example, is a gateway provider, meaning that they handle the communication between the customer's credit card bank and the vendor's merchant account provider (i.e. merchant bank). While I don't have any first hand knowledge, I imagine there are proprietary standards developed by Visa, Mastercard, Amex., etc. for how data gets transmitted between those parties for card verification and whatnot. So, assuming that's the case, the gateway provider is performing two services: 1) transmitting data, receiving and processing a response, and then transmitting new data, and 2) providing an administrative interface for merchants to interact with their accounts. I can't imagine that they need a separate agreement with each bank, so probably it's just a question of getting signed on with Visa, Mastercard, AMEX, Discover, Diner's Club, etc. Basically, getting plugged into the underlying network.

That probably wasn't the answer you were looking for, but it's an interesting question and sometimes it helps to think while you type! Wink

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Re: [hennagaijin] How develop a payment processing company like Authorize.net, others ? In reply to
Looking into this as I can. Seems interesting.

Thanks, hennagaijin Smile

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