Good afternoon,
I am an entrepreneur trying to diversify my business by starting a payment platform for some targeted group of businesses. And I'm seeking for assistance and advice on what to go for and what to avoid in terms of building an application, creating a payment gateway or leveraging on existing ones. The costs and time implications.
Thank you

Use existing ones. The people who can build such things charge millions of naira and are very scarce to get.

Last I checked, licence for a payment processing fintech alone runs in tens of millions, not to mention the cost of paying developers to build it, and maintain it.

You're better off building around the APIs of existing payment platforms and parting with some percentage

DrLevi:
Last I checked, licence for a payment processing fintech alone runs in tens of millions, not to mention the cost of paying developers to build it, and maintain it.

You're better off building around the APIs of existing payment platforms and parting with some percentage

So you mean to say people who build around APIs of companies like PayStack and Flutterwave give them a certain percentage of the business? Or is it a percentage of the profit?

privaldo:


So you mean to say people who build around APIs of companies like PayStack and Flutterwave give them a certain percentage of the business? Or is it a percentage of the profit?

You should check the pricing page for those products, it would explain it better

You pay per transaction last time I check

DrLevi:

You should the pricing page for those products, it would explain it better

You pay per transaction last time I check

Let me check it out. Thanks

DrLevi:
Last I checked, licence for a payment processing fintech alone runs in tens of millions, not to mention the cost of paying developers to build it, and maintain it.

You're better off building around the APIs of existing payment platforms and parting with some percentage

I don’t know why I find this silly.
Building a payment gateway around a payment gateway.

DrLevi:

You're better off building around the APIs of existing payment platforms and parting with some percentage

This is a great way to start.
After all, one shouldn't test the depth of waters with both feet.

DrLevi:

You should check the pricing page for those products, it would explain it better

You pay per transaction last time I check

Wishing you luck doc on your exams

ClintonNzedimma:

I don’t know why I find this silly.
Building a payment gateway around a payment gateway.

It's actually a very good advice.

Everything is not about writing code.

Riplogic:


Wishing you luck doc on your exams

Thanks... We've written and it was successful.

Karleb:


It's actually a very good advice.

Everything is not about writing code.

I have built a similar service but I found it boring.
I wanna do the real thing