How can I set up a financial credit card payment?

[rymngh]

Hi,

I want to set up a shopping website, I want users to pay me monthly. It depends on the chosen service plan.

For example, if the user bought item A for $1500, the user can choose how many months they want to pay it. how can I make sure that the user will not cheat it, and stick to the contract? Because I'm afraid that I may go to bankruptcy if they cheat it.

They might cheat their credit cards right? How does the bank protect the online shops from this kind of theft?

[brk]

This is out of the realm of what you can do independently with credit card processing on your own.

To do this, you need to setup an account with something like GE Capital, who handles the credit checks and authorizations and such.

With the credit card act of 2010, this is even more difficult (at least in the US) than it used to be.

If your business plan depends on this, find another business plan. It is going to be more risk and trouble than you expect.

[rymngh]

thanks. ill find another.

[skennedy]

Are you willing to implement a layaway program instead? If so, you can implement a transaction tool like PayPal to initiate recurring monthly payments. If the user cancels, you can refund the balance. When the product is paid in full, you send it to them and cancel future recurring payments.

Not the most customer friendly solution, but it is less liability and easier to implement for you.

[rymngh]

that won't work