

How can I set up a financial credit card payment? - rymngh

Hi,<p>I want to set up a shopping website, I want users to pay me monthly. It depends on the chosen service plan.<p>For example, if the user bought item A for $1500, the user can choose how many months they want to pay it. how can I make sure that the user will not cheat it, and stick to the contract? Because I'm afraid that I may go to bankruptcy if they cheat it.<p>They might cheat their credit cards right?
How does the bank protect the online shops from this kind of theft?
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brk
This is out of the realm of what you can do independently with credit card
processing on your own.

To do this, you need to setup an account with something like GE Capital, who
handles the credit checks and authorizations and such.

With the credit card act of 2010, this is even more difficult (at least in the
US) than it used to be.

If your business plan depends on this, find another business plan. It is going
to be more risk and trouble than you expect.

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rymngh
thanks. ill find another.

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skennedy
Are you willing to implement a layaway program instead? If so, you can
implement a transaction tool like PayPal to initiate recurring monthly
payments. If the user cancels, you can refund the balance. When the product is
paid in full, you send it to them and cancel future recurring payments.

Not the most customer friendly solution, but it is less liability and easier
to implement for you.

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rymngh
that won't work

