My company is currently using stripe as payment processor. As a side project, I want to explore the possibility of creating my own payment processor at home (i.e. become my own stripe). Does anyone know what’s involved?
I can probably develop a stripe clone by myself. But I want to focus on the legal/financial aspects.
Pls don’t tell me to accept bitcoin. Already got that rolling.
Question - why do you think payment processors even exist? Why don’t huge companies with tons of workforce just process payments themselves and save millions of $ on paying the processor fees?
The answer is all the legal trouble and complications. So many regulations, so many liabilities, so many issues with security that companies decide that it’s worth spending a percentage of their multimillion-dollar revenue to not have to deal with.
And you are trying to do all that by yourself. This project is impossible.
Btcpayserver. Credit cards etc just forget about self hosting, I worked for a credit card processor in the past, you won’t be able to get through the PCI audit.
Sure you can build a stripe clone, sure bud. I have Eng friends who work at Stripe. I don’t think you can even begin to understand what’s involved with a business like this. They ARE the gateway so have fun implementing “verified by visa” with 200 banks.
Wheres the cost/benefit justification? My company went through the certification process. It cost many thousands and took many months.
There’s a reason stripe is a payment processor and your company is using it.
Regulations and costs alone make it difficult for companies, never mind individuals. Getting approval for things. Having protections, gaining trusts etc etc. the list is endless. It’s not something that an individual should ever be considering. Stripes fees aren’t too bad and they do the heavy lifting. You would spend way more thinking about setting up yourself and researching. The time cost involved. It’s just not worth it for anybody but the biggest players.