handling the holding of money on a platform

Posted by user1716672 on Pro Webmasters See other posts from Pro Webmasters or by user1716672
Published on 2012-10-03T11:58:41Z Indexed on 2012/10/03 15:52 UTC
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Filed under:

php

|

ecommerce

|

paypal

We are building a platform for a client, developed in Yii, where users can top up their account on the platform with money from paypal. Users can upload files and buy access to each others files. User can also gift other users with money.

I was thinking that when users top up their account, the money goes rom their Paypal to the merchant account of the website. So all users' money goes to one merchant account. Then, any transactions on the platform are simply recorded on the platform and each users' balance is the maximum amount they can withdraw from the merchant account.

Is this the right approach? Legally, are there any problems?

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