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Thread: Money On The Internet

  1. #1
    Join Date
    Mar 2008
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    73

    Post Money On The Internet

    Im planning to develop a money marketing website. I have all the knowledge to develop in most common web languages including PHP and XSL, but Ive no clue on how money works on the net. Esp how a user could pay for a product and then money is sent from his/her account securely. Please I would like to receive some professional advice/knowledge on how money runs on the web. Thank you

  2. #2
    Join Date
    Feb 2008
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    NW Washington State
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    For someone starting out in e-commerce, your best bet would be to use a shopping cart and payment system devised and implemented by someone else, something like PayPal, etc. The security that goes into banking transactions has to be bulletproof and established companies like PayPay are trusted by the banking institutions. Your bank as well as the banks on the other end of transactions will require those high standards.
    Google shopping carts as a starting point.
    Good luck!

  3. #3
    Join Date
    Mar 2008
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    Thumbs up Thanks

    Thanks, I've tried out paypal and some other software.

  4. #4
    Join Date
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    Euphoria, all the time...
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    Well, if you plan on actually taking and authorizing credit card data, then you'll need two things.

    1. An SSL certification with a minimum of 128 bit encryption, this can be free for your own SSL option, or around 20/year for a decent outsourced option.

    2. Full PCI compliance. Which costs MONEY, BIG MONEY. Even running your own servers still requires that a third party evaluates your services, and this third party must be a registered AVS.

    Basically, go with an outsourced solution such as PayPal until you're ready to drop a few hundred a month (worst case is about $250, cheapest I've experienced personally is around $80/mo). And if you do become ready to accept credit cards on your site directly, then PayPal allows for that too using "direct pay". Stay away from express checkout if at all possible, even if it is required for Direct Pay. It sucks to implement, and 1/2 of the captures fail after authorization if the funding source of the customer is a bank account without a business account (according to PayPal's support, this was the issue).

    Well good luck! Sorry about the rant... heh.
    "In a world without walls and fences, who
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  5. #5
    Join Date
    Sep 2007
    Posts
    40
    Quote Originally Posted by webgovernor
    Well, if you plan on actually taking and authorizing credit card data, then you'll need two things.

    1. An SSL certification with a minimum of 128 bit encryption, this can be free for your own SSL option, or around 20/year for a decent outsourced option.

    2. Full PCI compliance. Which costs MONEY, BIG MONEY. Even running your own servers still requires that a third party evaluates your services, and this third party must be a registered AVS.

    Basically, go with an outsourced solution such as PayPal until you're ready to drop a few hundred a month (worst case is about $250, cheapest I've experienced personally is around $80/mo). And if you do become ready to accept credit cards on your site directly, then PayPal allows for that too using "direct pay". Stay away from express checkout if at all possible, even if it is required for Direct Pay. It sucks to implement, and 1/2 of the captures fail after authorization if the funding source of the customer is a bank account without a business account (according to PayPal's support, this was the issue).

    Well good luck! Sorry about the rant... heh.
    Just to define 'a lot of money', you're probably looking at $1000 - $2000 / year, depending on who you use.

    You can pay as little as $55 / month for a cart + direct cc processing. The only way you'd see an $80+ bill is if you're doing hundreds of small transactions per month or you have chargebacks.

  6. #6
    Join Date
    Feb 2008
    Location
    Germany
    Posts
    61
    money marketing website
    Maybe you can outline your project a bit closer, so some more specific hints can be provided :-)
    Business consulting services: http://www.starenterprise.com
    CGI Perl scripts and software development: http://www.sunnyscript.com

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