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How Much Would It Cost To Build A Private Payment Gateway? - Programming - Nairaland

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How Much Would It Cost To Build A Private Payment Gateway? by Nobody: 6:55pm On Sep 23, 2018
Imagine having a business that requires online payment most of the time. You could integrate different payment services to tackle this, but then having to share a percentage of the deposits with the service providers would slightly reduce your profit margin. Creating your own payment gateway sounds ideal since it will be strictly for your business and you don't have to worry about the operation being a large one. But then you have no idea who to employ for this, how to go about it and how much it would cost?

So, how much would it cost to build a private payment gateway?

Note: Simply credit card payments only.
Re: How Much Would It Cost To Build A Private Payment Gateway? by techgeek12(m): 11:23pm On Sep 23, 2018
iiooxx:
Imagine having a business that requires online payment most of the time. You could integrate different payment services to tackle this, but then having to share a percentage of the deposits with the service providers would slightly reduce your profit margin. Creating your own payment gateway sounds ideal since it will be strictly for your business and you don't have to worry about the operation being a large one. But then you have no idea who to employ for this, how to go about it and how much it would cost?

So, how much would it cost to build a private payment gateway?

Note: Simply credit card payments only.


200-300k
Re: How Much Would It Cost To Build A Private Payment Gateway? by airsaylongcon: 11:55pm On Sep 23, 2018
techgeek12:


200-300k
And you arrived at this figure after considering what?
Re: How Much Would It Cost To Build A Private Payment Gateway? by techgeek12(m): 12:13am On Sep 24, 2018
airsaylongcon:
And you arrived at this figure after considering what?
Purchasing of authentic Payment gate API API designing
Designing, API codec,.net framework
Registration of ur API for merchant payment under finiancial corps.
Re: How Much Would It Cost To Build A Private Payment Gateway? by Nobody: 1:11am On Sep 24, 2018
...
Re: How Much Would It Cost To Build A Private Payment Gateway? by techgeek12(m): 8:30am On Sep 24, 2018
iiooxx:
Can you do it?
Yes, add on whatsapp 081-350-65-702
Re: How Much Would It Cost To Build A Private Payment Gateway? by bassdow(m): 12:21pm On Sep 24, 2018
iiooxx:
Imagine having a business that requires online payment most of the time. You could integrate different payment services to tackle this, but then having to share a percentage of the deposits with the service providers would slightly reduce your profit margin. Creating your own payment gateway sounds ideal since it will be strictly for your business and you don't have to worry about the operation being a large one. But then you have no idea who to employ for this, how to go about it and how much it would cost?

So, how much would it cost to build a private payment gateway?

Note: Simply credit card payments only.


One way or the other, you are going to rely on a 3rd party.
Even PayPal still rely on others (and that includes the Banks).

If you want to start up yours and to get the necessary License, you need anywhere very much above 1 Million naira .

Someone here said 200k to 300k.

I want to believe that person hasn't handled such project before to begin with.

Yes that amount might get you something BUT not anywhere close to what I believe you want.

Starting a Payment Gateway system isn't a small thing. A lot of things are really involved - not just the programming aspect. It's not like e-commerce, or a blog anyone anywhere can just start up even from under the Bridge or in their room.

No programmer is going to write a code that would take a user's money out of their Bank and pay it into another Bank without relying on intermediaries.
Best you can do is go directly to Inter-switch so you get better rates BUT even then, you need to have enough money .

Most of these Gateway systems are expensive because most rely on a middle-man who in turn relies on another middle-man who might also have another middle-man AND at every point, the charges increases because everyone needs to earn their share.
It's same thing happening in retail business.



Another thing making most of this things difficult for new people to come in is this -

Even those who are meant to be regulators are also getting into the Business.

It's just like the Recharge-Card and E-Commerce business, while trying to establish new ones, the Banks are also there and you know what, it's easier for the banks to engage in certain types of Business than You and Me who are individuals .


Also take a look of most Payment gateways in Nigeria.
Some are dead already, some waiting to die BUT few, very few are strong. Strong because they have in-dept knowledge (and some have even worked) in the Financial sector, saw a gap that needed to be filled and took it upon themselves to fill in such gap.

Now a little history about them would reveal they have pumped in huge amount of money YET also went ahead to apply for GRANTS which some got. And these funds are in Millions of Naira.

Now no investor would do such if they don't see a potential.

Don't end up building a "Just Another Payment System" .

Most Plugin and Script Installers together with web designers with little programming experience would come here Preaching Heaven on Nigeria just to get to start a project and in the end, na you go loose .



NB: The easiest you can get is going the route of folks like Konga - their wallet system (seems it's called KongaPay or whatever) is almost a kind of payment system.

And for the records, there's a difference between a Payment System and a Payment gateway. Please don't confuse the both. I bet most people in here don't know that.


Make I stop for here

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