Business Idea: Start An Online Payment Service in 2024
An online payment service provider is a third-party company that provides a payment platform for businesses that accept online payment methods like debit cards, credit cards, cash cards, etc. Building an online payment platform is a great way of achieving financial freedom. This is because the payment platform charges the stores and service providers a convenience fee for using their services, generating a passive income for the business owners.
If you plan to build an online payment solution, focus on building a solution that will process different payment types.
Revenue & Profitability
How much do online payment services make?
Startup Costs
How much does it cost to start an online payment service?
- It can cost as low as $50 to start an online payment service.
- It can cost as high as $600,000 to start an online payment service.
Learn more about the costs of an online payment service.
Examples Of Successful Online Payment Services
Successful online payment service businesses and case studies
Transformify, a global payroll and payments platform for international contractors, achieved 650% revenue growth in 2021 and reached profitability in 2019, offering social impact programs for various vulnerable groups, vendor management systems for temporary workforce management, and an AI-driven applicant tracking system to help job seekers switch careers amid Covid-19 outbreak.
Bangladeshi MD and CEO Fida Haq established shurjoPay in the e-Commerce sector in 2010, a payment gateway as a merchant service provider so MSMEs could accept online payments in a country that lacked such a solution; now averaging $1.5M in transactions per month with 600 merchants, and expanding services with QR-based payments and payment links.
See full list of successful online payment services.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
