How do i make my own paypal

**akasliwal** · 04-12-2010 03:43 AM

I am wondering what would it take to start my own paypal type company. Other than having my own payment gateway what else would i require to start a company like paypal. Can anyone give me any insight on this?

**leonyu** · 04-12-2010 04:30 AM

Lots of things to do for the advisement! Paypal is NO.1 now and it really takes time for registering such services.

**rogercbryan** · 04-12-2010 12:28 PM

Originally Posted by akasliwal

I am wondering what would it take to start my own paypal type company. Other than having my own payment gateway what else would i require to start a company like paypal. Can anyone give me any insight on this?

This would be a huge undertaking. Not just from the legal realm but also the marketing. If you have US $1M to play with we could talk more. Anything less then that and you would just be spinning your wheels.

**mcfarldr1** · 04-12-2010 10:28 PM

Originally Posted by rogercbryan

This would be a huge undertaking. Not just from the legal realm but also the marketing. If you have US $1M to play with we could talk more. Anything less then that and you would just be spinning your wheels.

Agreed. PayPal was created by combining 2 start up companies right around 2000, so the dot com boom was still heavily influencing. After these two companies merged, PayPal was still not created til after the successful ebay was able to rework it to make it available for auction payments. That is why PayPal is so big to this point.

To start a new "PayPal" wouldn't be that hard, but getting people to switch from PayPal or even Google Checkout would be the hardest and most expensive part of the project.

In my opinion, there are much better investments out there. Keep your mind open and something will come to you!

**noob** · 04-12-2010 11:32 PM

Originally Posted by mcfarldr1

Agreed. PayPal was created by combining 2 start up companies right around 2000, so the dot com boom was still heavily influencing. After these two companies merged, PayPal was still not created til after the successful ebay was able to rework it to make it available for auction payments. That is why PayPal is so big to this point.

To start a new "PayPal" wouldn't be that hard, but getting people to switch from PayPal or even Google Checkout would be the hardest and most expensive part of the project.

In my opinion, there are much better investments out there. Keep your mind open and something will come to you!

There are some discrepancies or info lacking in your story about the history of PayPal albeit not entirely untrue. PayPal did get massive PR from eBay and I can agree that it got big largely due to that but in the early days, PayPal was actually against it's own use on eBay. It wasn't actually until after a futile attempt to get users to stop using PayPal on eBay that they realize the web was a much better vehicle than the Palm Pilots were. That was when things shifted. However much of it's early viral growth wasn't due to eBay alone. It used an early affiliate marketing program to gain traction and PR on it's own which lasted for a long time in addition to it's rise to prominence inside eBay over eBay's later BidPay.

I highly disagree with you in regards to starting another PayPal not being difficult. The security around the code is a mess and handling merchant relationships is the most agonizing part of this project. It's a huge undertaking and should not be taken lightly. I do agree there are more worthwhile businesses out there.

**junk_business** · 04-13-2010 11:25 AM

I would say it would take a 7 figure investment to even make a dent in PP's marketshare.

**EvoSumer** · 04-16-2010 06:06 AM

Agreed, Unless you have a radically new idea which changes the way to send money over the internet, PayPal is too big globally to really gain a market share without an astronomical investment.

**Tzarkov** · 04-16-2010 07:39 AM

You are a good copycat player right?

**evelynw11** · 05-19-2011 05:05 AM

You know I had those same thoughts at one time. But, I wouldn't to deal with other peoples money like that. I think you would have to be insured by the FDIC and possibly from the banking industry or have some kind of monetary collateral to get started. But, if you want your own website that can help you generate some nice income you might want to check out my website at Chris Farrell - How To Make Money Online it's really nice and that's how I got started.