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Ask HN: How to create a service similar to Patreon?


Paypal
OP
specify.-
OBS
CafePress
CDN
AWS
BTC
XRP
LTC
ETH
API
Stripe
Visa
Mastercard
Titans
XLM
KYC
VC
e.g. 2-3%
PayPal
POC
Kickstarter
Social Media
FX
AML
ACH
SWIFT
Subscribe Star



Stripe
Hikaru Nakamura
HN
https://www.sharetribe.com/academy/how-to-design-your-market...Which
Liberapay
Cryptocurrency
lol.2
Subscribe Star


LGBTQ


Europe

No matching tags


US
Venmo
etc)-
Sod'em
Russia
India
Braintree
reportsIt
Backerpass
SubscribeStar
Ratafire
lol.3

No matching tags

Positivity     34.00%   
   Negativity   66.00%
The New York Times
SOURCE: https://news.ycombinator.com/item?id=19316728
Write a review: Hacker News
Summary

- user signs up- user registers x supported payment accounts (Paypal, Venmo, etc)- when a user wants to pay another user on their site, you send them to the appropriate payment provider with the details of the other user- take confirmation from user that received payment and use it to update "trustworthiness" scores for both users.This seems like it could work as a way to sidestep some of the legal requirements?Though the amount of value the OP's company offers is a little lower (since you're not handling payments), I think the other benefits (discoverability, concentration of information, etc) that patreon offers are still seemingly on the table. Fraud of course is still an issue, but the upside is you can punt that to whatever payment provider they specify.- user registers x supported payment accounts (Paypal, Venmo, etc)- when a user wants to pay another user on their site, you send them to the appropriate payment provider with the details of the other user- take confirmation from user that received payment and use it to update "trustworthiness" scores for both users.This seems like it could work as a way to sidestep some of the legal requirements?Though the amount of value the OP's company offers is a little lower (since you're not handling payments), I think the other benefits (discoverability, concentration of information, etc) that patreon offers are still seemingly on the table. Fraud of course is still an issue, but the upside is you can punt that to whatever payment provider they specify.- when a user wants to pay another user on their site, you send them to the appropriate payment provider with the details of the other user- take confirmation from user that received payment and use it to update "trustworthiness" scores for both users.This seems like it could work as a way to sidestep some of the legal requirements?Though the amount of value the OP's company offers is a little lower (since you're not handling payments), I think the other benefits (discoverability, concentration of information, etc) that patreon offers are still seemingly on the table. Fraud of course is still an issue, but the upside is you can punt that to whatever payment provider they specify.- take confirmation from user that received payment and use it to update "trustworthiness" scores for both users.This seems like it could work as a way to sidestep some of the legal requirements?Though the amount of value the OP's company offers is a little lower (since you're not handling payments), I think the other benefits (discoverability, concentration of information, etc) that patreon offers are still seemingly on the table. Fraud of course is still an issue, but the upside is you can punt that to whatever payment provider they specify.This seems like it could work as a way to sidestep some of the legal requirements?Though the amount of value the OP's company offers is a little lower (since you're not handling payments), I think the other benefits (discoverability, concentration of information, etc) that patreon offers are still seemingly on the table. Fraud of course is still an issue, but the upside is you can punt that to whatever payment provider they specify.Though the amount of value the OP's company offers is a little lower (since you're not handling payments), I think the other benefits (discoverability, concentration of information, etc) that patreon offers are still seemingly on the table. Some info: https://venturebeat.com/2018/10/07/how-streamlabs-is-helping...If you can find a way to make tipping part of a larger product/service, it seems less likely to be used for money laundering, and to be more likely to work without a huge amount of expertise in the area of payment platforms.If you can find a way to make tipping part of a larger product/service, it seems less likely to be used for money laundering, and to be more likely to work without a huge amount of expertise in the area of payment platforms. I personally think you could find a lot of people who would be willing to help CDN/share/host for streamers they support, a nice step between watch for free and upvote/like and send the streamer money.Even if you didn't want to go the P2P route, there's no reason that streamlabs can't step in to help provide that infrastructure if it's cost effective (i.e. if the streamer is paying) -- surely a streamer is going to be willing to drop $50 on extra resources for a stream if they think it's going to bring them >$50 worth of recognition/good content for their streamers. Even better, streamlabs could give streamers easy tools to enable purchasing cloud resources for better stream quality, and charge them for the convenience (and let them know of course that they pay the AWS bills at the end of the day).Even if you didn't want to go the P2P route, there's no reason that streamlabs can't step in to help provide that infrastructure if it's cost effective (i.e. if the streamer is paying) -- surely a streamer is going to be willing to drop $50 on extra resources for a stream if they think it's going to bring them >$50 worth of recognition/good content for their streamers. He's been doing it for a while (4 years) now averaging 500K per month in payments.All his customers are people from third world or second world countries like Russia, India etc...where accepting international credit cards is bit difficult and probably has more fees.He raises invoices in his own company name then the creators are written off as independent contractors.So creators will need to do their own taxes.He's using Braintree and Stripe and load balancing between these two.He's one man show and knows nothing about law/accounting.He also got one accountant who is helping him calculate and make financial reportsIt can be done I guessAll his customers are people from third world or second world countries like Russia, India etc...where accepting international credit cards is bit difficult and probably has more fees.He raises invoices in his own company name then the creators are written off as independent contractors.So creators will need to do their own taxes.He's using Braintree and Stripe and load balancing between these two.He's one man show and knows nothing about law/accounting.He also got one accountant who is helping him calculate and make financial reportsIt can be done I guessHe raises invoices in his own company name then the creators are written off as independent contractors.So creators will need to do their own taxes.He's using Braintree and Stripe and load balancing between these two.He's one man show and knows nothing about law/accounting.He also got one accountant who is helping him calculate and make financial reportsIt can be done I guessSo creators will need to do their own taxes.He's using Braintree and Stripe and load balancing between these two.He's one man show and knows nothing about law/accounting.He also got one accountant who is helping him calculate and make financial reportsIt can be done I guessHe's using Braintree and Stripe and load balancing between these two.He's one man show and knows nothing about law/accounting.He also got one accountant who is helping him calculate and make financial reportsIt can be done I guessHe's one man show and knows nothing about law/accounting.He also got one accountant who is helping him calculate and make financial reportsIt can be done I guessHe also got one accountant who is helping him calculate and make financial reportsIt can be done I guessIt can be done I guess When restricted to R&D and operational cost, it should not need a lot of resources and IMHO incentives for profit contradict the overall goal of the site which is to allow users to reward content producers.One cool thing that you could do with stellar is use so-called federated accounts to represent content owners and users. When restricted to R&D and operational cost, it should not need a lot of resources and IMHO incentives for profit contradict the overall goal of the site which is to allow users to reward content producers.Another thing you could do is represent content owners preemptively (i.e. before they've even heard of you) with their own little federated wallet. When restricted to R&D and operational cost, it should not need a lot of resources and IMHO incentives for profit contradict the overall goal of the site which is to allow users to reward content producers.Building this technically is not that hard. When restricted to R&D and operational cost, it should not need a lot of resources and IMHO incentives for profit contradict the overall goal of the site which is to allow users to reward content producers. Not a lot of alternatives at the time (Braintree, PayPal) but that may have changed.I'd start with their docs.We pushed all tax concerns to the client (we used standard accounts for our sellers, which might not be an option for you) and made it clear it was their responsibility.The downside was the price. Let me explain the following steps you'll need to fulfil.1) The ability to on-board individuals and perform KYC.2) Taking and validating the individuals bank account for payments.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. Let me explain the following steps you'll need to fulfil.1) The ability to on-board individuals and perform KYC.2) Taking and validating the individuals bank account for payments.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. Let me explain the following steps you'll need to fulfil.1) The ability to on-board individuals and perform KYC.2) Taking and validating the individuals bank account for payments.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. Let me explain the following steps you'll need to fulfil.1) The ability to on-board individuals and perform KYC.2) Taking and validating the individuals bank account for payments.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.1) The ability to on-board individuals and perform KYC.2) Taking and validating the individuals bank account for payments.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.2) Taking and validating the individuals bank account for payments.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.3) Processing credit card payments and splitting them up between the % for you and the rest for the creator.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.4) Dealing with fraud when taking the credit card payments.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.5) Sending the payment to the creator and doing FX spot transactions where necessary.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.6) Performing AML on each payment.There's so much more, but I want to keep this post succinct.As others have said. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. I won't go into it with this post.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.Now if you definitely want to do this yourself, here are some of the problems you'll face.The first thing you need to realise, that by not actually running right now. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. So that's double the cost.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. 250 or more lol.The next thing is that you'll need to find a company to help you sending ACH payments and then either SWIFT or XRP for international payment as well.Finally, there is another way. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later. If you do find a credit card processor that can on-board individuals and hold them accountable for the payments instead of you and can then split the payments and put the funds in their home bank account or an intermediary for moving on later.

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