I would suggest that either Adobe Illustrator or Adobe InDesign are better places than Adobe Photoshop for this task. Not that you can't do it in Photoshop, however, if this is art for a physical rubber stamp, the service provider may require vector data, not raster. It is easy to turn vector into raster if required.
Two ways. One is to use the vertical text tool on a path. The other way is to create a pattern and use the scripted fill with place pattern along a path.