Becoming a Credit Card Service Provider

[Manotea]

Hello Peeps...

I'm playing around with an idea for a new business which is a form of business factoring in reverse (we buy things on your behalf).

Does this sort of thing exist already?

A large part of such a service involves managing and charging credit.

One way forward would be to set up my own credit card.

Do such things as 'White Label' credit card service providers exist?

What do I need to know from a legal standpoint? Where should I start looking?

All advice welcome, by post or pm.

Thnx 

[Frank9755]

There is a big affinity card segment, credit cards set up on behalf of all sorts of institutions.  I recall being offered a card by my university and other organisations I had affiliation with, back in the 90s

I think they were mainly run by MBNA and maybe also Capital One. 

I don't know if this market still exists now, though.  Credit cards are a bit old-fashioned now and in decline overall.

[rob]

There was, briefly, a CTC credit card and I had one.  It was backed by MBNA.  I think MBNA was absorbed by Bank of America.