Monday, April 20, 2009

Building Payment Networks - Part 1

Dear Readers, let PG fill you in on the A,B,C,'s of Payment Network Construction:

Step 1. Build a biller (code it in house, or license one from a billing system provider)

Step 2. License some accounting software (like Netsuite)to manage your cash flow

Step 3. Choose the right payment method mix (you need to cover the 3 main payment categories A. Online Payment Method(s) i.e. Credit Cards, Internet Bank Payment(s), PayPal; B. Offline Payment Method(s) i.e. prepaid cards, e-voucher/e-pin code generators; C. Telco (mobile sms, IVR)

Step 4. Choose the best payment partners per payment method (let PG help you ...)

Step 5. Organize a Payment Systems Team / eCommerce Unit (this is the G&A / Admin side of things)

Step 6. Design some killer easy to use web pages

Step 7. Tie it all together, test, deploy, launch it and repeat per market / country / language.

More details on each point to come. Stay tuned.. or email PG @ to get the straight talk direct and start making money ASAP.

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