I’m trying to set up a website that would allow individuals to transfer money – donations in this case – to my user’s account. I want to do this as cheaply as possible. The users don’t want to make a paypal account, they want me to handle the whole thing for them on the website, and the money should end up in their bank account without them doing anything.
There seem to be so many different institutions that can do this, all in different ways. FirstData, PayPal, TSYS, noca.com are a few that I’ve found. Could someone explain this industry to me, how these transfers work, who profits and how? Should I act as a middle man, transfering the money to my account and then to the clients?
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