There is still room for quality payment services like this. In particular, high-risk and micro-payments, would be great niches to get into.
The primary problem is that to do this right, you will need to spend a lot on legal fees or find a lawyer to work for equity in your idea(you wouldn't even have a single customer yet).
I've run the scenario a million times and I would love to create a start-up that can disrupt, maybe even revolutionize the payment processing industry. My friend runs one of the big PayPal sucks sites, and makes several million collecting residuals by forwarding angry PayPal customers to open a real merchant account. I've seen first hand every possible complaint and gripe you can imagine.
Someone find me a VC that wants in on this. I'll take a $1 salary.
The primary problem is that to do this right, you will need to spend a lot on legal fees or find a lawyer to work for equity in your idea(you wouldn't even have a single customer yet).
I've run the scenario a million times and I would love to create a start-up that can disrupt, maybe even revolutionize the payment processing industry. My friend runs one of the big PayPal sucks sites, and makes several million collecting residuals by forwarding angry PayPal customers to open a real merchant account. I've seen first hand every possible complaint and gripe you can imagine.
Someone find me a VC that wants in on this. I'll take a $1 salary.