Hi,

I would like to create a paysystem like paypal. What should i do to have it fully legally registered. Does somebody know if there is any licence or agreement needed to provide a exchange service from emoney to tradicional banks not to be blame for washing of the money? Where is the border which is allowed in this kind of business.

Many thanks for your reply.

Good luck with competing with paypal & now google...

You would probably find your answer from someone at www.youngentrepreneur.com

I have seen scripts for sale around the net advertised as a payment processor script like PayPal. Have seen it for sale a lot on eBay.

I don't know whether it is junk or not. Never bought it myself.

I think if creating of money transfers business like paypal, must use the unique scripts and employ a programmer, otherwise, the hacker may easy to hack your site.

First off you will need a large amount of capital. You will need a lawyer, accountant, and if you want to be a real bank get FDIC approved, which Paypal is not. This will be a big undertaking to do it right.

yup and if you don't have enough capital might as well find a few people to operate the system, how many people is there anyway.

not to mention the services and the replies needed for the support ticket,
a legitimate phone no. with real support.

and most importantly your ecurrency if you can accepts credit card.
then that would really kick in the start towards a better future and revenue for your company.

just my 2cents

I think that's a very big business. You can't do it by yourself.