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Hi.
I have multiple eCommerce websites, and I am paying so much money to payment gateways to process my money from sales, So I was planning of creating a gateway that can help me to transfer money directly to my bank accounts, So that I will be able to save processing fees that I am currently paying to the payment gateways.
Can anyone please suggest me something? or tell me how much is it going to cost etc.
Thanks,
Sunny
Many people have misconceptions concerning the way merchant services industry is organized.
Let us consider an example from a telephone communication industry. When it emerged, you had to pay for every call. Later people had to pay fixed amounts on a regular (usually, monthly) basis. After that people got the opportunity to make calls via Internet and pay only for network connection. However, they still have to pay for something and cannot get the service completely free of charge.
The situation with gateways is similar. In any case you have to pay for gateway services in one form or another. Even if you work directly with VISA and MC (say, you have very large processing volumes), you will have to pay gateway fees to them. Otherwise, you will have to pay to your acquiring partner.
So, if you have an established acquiring bank relationship, then you can either develop a gateway product yourself or license an open-source gateway platform, such as UniPay (Unipaygateway.com). In order to know particular cost of the process, you will need to have integration specifications from your acquiring partner (or from VISA / MC).
Here is an article from this blog, listing the main steps of the process and their approximate costs: https://paylosophy.com/becoming-payment-service-provider/.
If you do not have an acquiring partner, then you will have to find some other existing service to integrate with. Quite often this task represents a problem, especially for small-size e-commerce web-sites, located in countries with underdeveloped payment processing infrasturcture, because merchant accounts are problematic to obtain.
