Visa and Mastercard started as a service, not a company itself. Visa started as BankAmerica and if fact just recently actually became a company (IPO is next month).

To start anew, you need a lot of capital. You are going into the lending business so you need many millions of dollars available. So you need to sell your service into a consortium of banks. The banks issue their own cards and service their own debt. They will pay you a very small portion for the right to use your name, system and management services. You have to sell-in: both to businesses and customers. Huge job here: businesses don’t want your card because they already have to manage four and not many consumers have your card; Consumers don’t want it because they already have many and yours is not accepted at many businesses. So, you’ll have to offer many incentives to both. Maybe you start with one focus: an Expedia card for example. Its tied to your account at Expedia.com and offers discounts for all travel purchased there; airlines and hotels get especially promoted for accepting the card. Once established there, expand.

here’s what you can do. The “next best thing” right now are Virtual credit cards. yes virtual credit cards.
what you can do is make an affiliate website but make all of you transactions with some one else…the customer would never know!, so now your getting paid for every transaction.
it’s a win win…..but as far as making your own credit card company….i would contact all of the major and small credit card companies.

GOOD QUESTION…..