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Hi,
we want to make a payment gateway service where user can transaction through our application in three ways. One to one, one to many and many to one. We don’t need a wallet like paypal where user store their money. We need a direct transaction from account to account through our application. One of our client want to make this type of application. He operates in Bangladesh, a south asian country. He don’t have an Acquiring partner right now. He contacts with banks to support this application. There is no application exist like this in Bangladesh. We want to know the exact pros and cons and approximate budget if we make it from scratch and also if we use some license software.
You can find the list of the necessary steps and related costs in the respective article on this blog: https://paylosophy.com/becoming-payment-service-provider/
The estimates provided in the article may seem too high.
Potentially, you can build a solution from scratch using your own development efforts, at a lower cost. However, development of your own solution from scratch will take two-three times more time than implementation of a ready-made solution.
Moreover, if you decide to use a ready-made solution, you will be able to start processing in approximately 6 months after the moment of purchase (deployment and PCI certification-related issues are really time-consuming).
If you decide to build a solution yourself, it will take you at least 18 months (from the moment you sign a contract with the acquirer to the moment you start processing).
Technical aspects should be discussed only after you find the acquiring partner.
It is from your acquiring bank that you will be getting particular integration specifications. When you have the contract with the acquirer and integration specifications, you can start searching for a particular solution (or thinking how to develop it from scratch yourself).
In many cases people start looking for a technical solution, but then it turns out that they cannot fund an acquirer in their region.
