How complex is online payment processing?

[Jimkooper]

Hey everyone,
A company I work with currently uses a 3rd party payment processor to handle our credit card payments. A coworker is proposing that we eventually build our own system to handle payments and forego the 3rd party payment processor.

Now, I have a pretty rudimentary understanding of programming, but to me this seems more than just a little naive to think we could effectively handle our own payment processing.

[abu baniaz]

welcome. hope you get your answer.

for info, we ban self quoters who insert links

[adm]

Hey everyone,
A company I work with currently uses a 3rd party payment processor to handle our credit card payments. A coworker is proposing that we eventually build our own system to handle payments and forego the 3rd party payment processor.

Now, I have a pretty rudimentary understanding of programming, but to me this seems more than just a little naive to think we could effectively handle our own payment processing.

Its not just payment but data protection of customers payment details. The credit card company, paypal etc. will still charge you a fee for all transactions so your company has to establish what these ongoing fees are going to be and how much the third party payment processor charges on top of this amount to see if providing the same service yourself is finacially sensible.

[ccs]

welcome. hope you get your answer.

for info, we ban self quoters who insert links

And any who cut and paste old reddit posts.

[abu baniaz]

Banned

IP address 103.51.235.88