5 {{ upvoteCount | shortNum }}
5 {{ upvoteCount | shortNum }}

Payment collection business?

by coolrunnings
4 replies
  • ECOMMERCE
    • |
Hi all

I want to start a payment collection business. Basically it will be a place for groups to sign up to make payments to the central organiser. For example, if I am planning a trip with friends and I am paying the expenses this will be an easy way to send them an invoice and have them pay me. I would like to eventually make an app also. I'd like to do as much as possible by myself to save money, but I want it to look good. I'd also like to avoid PayPal to make it as user friendly as possible (and so I can save credit card details for future payments).

Does anyone have any experience with this sort of thing? What would be a good place to start? Should I hire someone to help with the design? How much would it cost? Are there any good resources / courses I could use?

Thanks !
#business #collection #payment
  • Profile picture of the author kjamesnv
    How is your idea different from Paypal?
    {{ DiscussionBoard.errors[9183946].message }}
    • Profile picture of the author coolrunnings
      There are some additional features that I'd rather not go into at this stage.plus, I find PayPal incredibly un-userfriendly.
      {{ DiscussionBoard.errors[9183957].message }}
  • Profile picture of the author kjamesnv
    I am never one to discount someone's dreams or goals. 10 years ago Facebook was 2 college students in a dorm room.

    However the area your are considering is VERY complicated, expensive and difficult. Even companies like Google and Amazon with unlimited resources have had difficulty in this field.
    {{ DiscussionBoard.errors[9184094].message }}
  • Profile picture of the author Jack Gordon
    I agree, financial concepts are incredibly complex and risky.

    You may be able to effectively slash most of the headaches by simply incorporating Paypal.

    Whatever you decide, I wish you luck. If you need the perfect domain name, I'll sell you collectionpayments.com for a good price
    Signature
    Fifteen Lessons I have learned over 15 years and six businesses (or, My 1000th-Post Manifesto)
    {{ DiscussionBoard.errors[9184247].message }}

Trending Topics