Online payment processor question

[Gasaraki]

Just how easy (or difficult?) is it to setup an online credit card payment processing company? It seems to me that the only way to really stop online scams is to tighten the regulations and controls on these payment processors. Are these credit card payment processors being regulated by state or federal agencies? Anyone who is in that industry or knows anything about it care to share the insight?

[MatrixWatch]

Gasaraki,
You have seen the light. I mean it. Of all the post I have read on fighting internet scam, yours is closest to my viewpoint. The way I see it, internet get-rich-quick schemes thrive off of exitement. They are able to get rich so fast, and they take off so fast, because they can process credit-card orders. Therefore, if no credit-card companies are willing to do business with these website scams, then it will significantly hurt the scammers. It seems that with a little bit of money, and a lot of time, anyone can start up a third-party pay-provider company though, which makes our cause more difficult. However, if people were more afraid to open pay companies and service scam sites because of a potential lawsuit... That might work. Lawsuits are very expensive. Some of the pay companies that we are suing actually have to put up defense fees in the hundreds of thousands of dollars. All of us at MatrixWatch.org may just have the opportunity tomake a difference in the realm of internet scam.

[FightingBack]

I don't think it will ever stop. I mean just look on google.com for mlm merchants or something like that, and you will get a lot of results for offshore merchants that accept adult, gambeling, mlm sites etc. And they can't get sued because they are in these really weird countries. They offer you to have an offshore bank account along with with your offshore merchant account to be even safer.

Cracking down for major processors will do something, but you will never see all pay processors stopping these sites from doing business with them. Why? There will always be offshore business's that are out of Americans reach to sue.

The chance to get someone in that country to purchase from the site, then bring a lawsuit up against them would be hard. I think. And it would probably be hard for a person in that country to sue a merchant processor because a lot of them are in poverty countries.

Okay I think I am wrong with some of this. So if you have a different opinion or the facts to my wrong statements just say them, and don't flame me! LoL. Everytime I post something that might be wrong I get flammed for. This is just what I'm thinking.

[MatrixWatch]

The reason you usually are flamed is because you lauched a website called MatrixWatchSucks.com. You are posting on Matrix Watch. 1+1=?

[Agent|Star]

I was looking into it at a time... I suppose its not very hard you just fill out an application. It bascially comes down to finding good costing services as there are a lot of fees involved.

[FightingBack]

Originally posted by watchdog
The reason you usually are flamed is because you lauched a website called MatrixWatchSucks.com. You are posting on Matrix Watch. 1+1=?

So just because I have a few disagreements with how this place runs I get flammed? And if people hold that against me that I ran a site like that for what, a whole 2 DAYS! Then you all need to grow up. It was 2 days! Come on people it's time to grow up!