A Payment Facilitator, or PayFac, is a sub-merchant account used by merchant service providers to provide payment processing services to their own clients, known as sub-merchants. It’s used to provide payment processing services to their own merchant clients. Related to PayFac. Payment Facilitation-as-a-Service. A payfac is a platform that intermediates payments between consumers, payment operators (card operators, banks, PSPs, etc. PayFacs are often more suitable for SMEs seeking a quick and straightforward setup. BlueSnap's All in-One Accounts Receivable Automation solution is the best rated software solution for payment processing, billing/invoicing, recurring billing, and subscription management. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. The PayFac, he said, has emerged, and evolved from its 1990s underpinnings where merchant acquirers had handled that merchant enrollment, boarding, underwriting and even settlement. Any investments made now will need updates over time to meet changing regulations and. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. Any investments made now will need updates over time to meet changing regulations and. For example, the ETA published a 73-page report with new guidelines in September 2018. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. 1. PayFacs provide a similar service to standard merchant accounts, but with a few important differences. Payment Facilitator Model Definition. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. Sponsor Bank means a federal or state chartered bank which is a member of the Visa and/or MasterCard card associations (or another Approved Bank Card System) and which processes credit and debit card. The definition of a payment facilitator is still evolving—so is its role. 01274 649 893. Payfac-as-a-service is a turn-key payment facilitation model in which an external company provides businesses with the necessary tools and infrastructure to accept electronic payments, such as credit and debit cards, ACH, and echecks. 01332 477 853. The definition of a payment facilitator is still evolving—so is its role. This means that a SaaS platform can accept payments on behalf of its users. What is "PayFac as a service", and how can it help companies overcome common payment facilitation challenges? What is a payment facilitator? A payment facilitator, also called a PayFac, is an. 8–2% is typically reasonable. A payment facilitator or payfac is a service provider that affords small and medium-sized merchants the means to process debit or credit card payments more quickly, efficiently, and securely, allowing them more room to focus on their core business objectives. Any investments made now will need updates over time to meet changing regulations and. Most important among those differences, PayFacs don’t issue. Transaction Monitoring. Definition: Embedded payments is the seamless integration of a payments function and process into a software application, whether B2B or B2C. S. 1%. For example, the ETA published a 73-page report with new guidelines in September 2018. The payment facilitator is responsible for handling all the transaction's complexities along with clients' credentials. The definition of a payment facilitator is still evolving—so is its role. PayFac-as-a-service is a hybrid payment Facilitation model where payment service providers become a PAYFAC with banks and extend them as services to businesses. What is PayFac-as-a-Service? Payment Facilitation as a Service, also known as PayFac as a Service or PFaaS, allows software platforms and SaaS providers the ability to act as a. . If your sell rate is 2. In this guide, we’ll explore what a payment facilitator (often abbreviated as payfac or PF) is, examine the considerations and costs of different types of payfac solutions, and identify the best ways to add payments to a platform or marketplace. For example, a freelance graphic designer who wants to accept payments on their website can sign up with a payfac and have access to an integrated payment system, without needing to understand the. Here are the six differences between ISOs and PayFacs that you must know. In the PayFac model, banks that monitor PayFacs are called Acquiring Banks. While the term is commonly used interchangeably with payfac, they are different businesses. 2M) = $960,000 annually. S. An ACH Payment Facilitator, or PayFac enables a SaaS provider to act as a master merchant for its clients. The definition of a payment facilitator is still evolving—so is its role. 3. As the merchant of record, a PayFac can aggregate and process the card payments for as many “sub-merchants” as they would like underneath their umbrella. Traditional payfac solutions require significant time and financial investment, and limit platforms’ revenue opportunities to online card payments. While there are many benefits to this model, payment facilitators and their sponsoring banks and processors should be aware of the potential money transmission risks. Instead, the payfac has a master merchant account that it uses to process payments for all the “sub-merchants” in its network. The downside of this speed is the risk exposure in a breach; if a retail ISO is breached the acquirer steps in and shoulders most of the load. The definition of a payment facilitator is still evolving—so is its role. Public Sector Support. In short, Payment Facilitation is an operating model that affects the acquiring side of the payment ecosystem. Dokumen ini menjelaskan fitur, parameter, dan respons API, serta contoh permintaan dan balasan. But in many cases, a payments processor, through their relationship with an acquiring bank, may enable access to merchant accounts. ”. Business software platforms typically solve a business problem for a merchant, such as appointment scheduling. PayFac Is a New Innovation It depends on your definition of “new. PayFac-as-a-service is a hybrid payment Facilitation model where payment service providers become a PAYFAC with banks and extend them as services to businesses. , May 26, 2021 /PRNewswire/ -- PayFac-as-a-Service startup Tilled today announced the close of $11 million in Series A funding to empower software companies. It also must be able to. “The benefits of Payfac to software companies are clear: immediate seller onboarding, the ability to manage seller and buyer experiences through APIs, and fast, flexible payouts,” said Ruston. About This Guide. PayFacs enable businesses to accept different forms of electronic payments, such as credit and debit cards, ACH, and echecks. Business Size & Growth. The definition of a payment facilitator is still evolving—so is its role. Also, it’s essential to mention that PayFac is a Mastercard model, while the one for Visa is a payment service provider. For example, the ETA published a 73-page report with new guidelines in September 2018. Payment gateway selection is a tricky process. Any investments made now will need updates over time to meet changing regulations and. Payment Facilitator Model Definition. A Payment Facilitator (PayFac) is a type of merchant services company that provides business owners with a way to accept electronic payments, both online and in-store. The definition of a payment facilitator is still evolving—so is its role. PayFac, which is short for Payment Facilitation, is still a relatively new concept. The definition of a payment facilitator is still evolving—so is its role. Payment facilitation or PayFac-as-a-Service is your best bet if your business operates in a high-risk industry. There are numerous PayFac-as-a-service benefits. We aim to preserve the integrity of the payment system, which is why we work proactively and collaboratively with our customers to grow business while minimizing risk. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. What is a Payment Facilitator? A payment facilitator (PayFac) is a company that simplifies the process of accepting payments for businesses, particularly small and medium-sized enterprises (SMEs). Any investments made now will need updates over time to meet changing regulations and. A PayFac can remove the long, arduous underwriting process and get merchants up and running quickly – in a matter of minutes versus a few days or even weeks. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Software is available to help automate database checks and flag suspicious findings for further examination by a human. For example, the ETA published a 73-page report with new guidelines in September 2018. In comparison, ISO only allows for cheque payments. All while capturing the lion’s share of the revenue. For example, the ETA published a 73-page report with new guidelines in September 2018. FinTech innovators love the payment facilitator (PayFac), a shift that WePay co-founder Rich Aberman outlined in Episode 1 of the Payment Facilitators series with Karen Webster, CEO of PYMNTS. Processor relationships. The definition of a payment facilitator is still evolving—so is its role. apac@bambora. Segregated accounts are legally segregated from the firm's assets, meaning the company cannot use the funds stored to conduct business operations. A payment aggregator, also often referred to as a payment facilitator (payfac) or payment service provider (PSP), is a financial technology company that simplifies the process of accepting electronic payments for businesses. Any investments made now will need updates over time to meet changing regulations and. The definition of a payment facilitator is still evolving—so is its role. For example, the ETA published a 73-page report with new guidelines in September 2018. In Europe, bank transfers are more prevalent, and cards are not. For example, the ETA published a 73-page report with new guidelines in September 2018. The definition of a payment facilitator is still evolving—so is its role. 2% and 22 cents using a regulated debit card, to a high of close to 3% when using a business card. For example, the ETA published a 73-page report with new guidelines in September 2018. . JPMorgan Chase acquired WePay in 2017, connecting our fintech technology with the strength and security of the #1 merchant acquirer. The payment facilitator is a critical component of this ecosystem. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. The definition of a payment facilitator is still evolving—so is its role. For example, the ETA published a 73-page report with new guidelines in September 2018. Any investments made now will need updates over time to meet changing regulations and. For example, the ETA published a 73-page report with new guidelines in September 2018. One is that it allows businesses to monetise payments effectively. PayFac-as-a-Service creates a seamless, instant onboarding experience for your customers while allowing you to generate revenue from the transactions flowing through your system, all. They also limit a merchant’s control over its security, compliance and. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. What is a payfac? A payfac, short for payment facilitator, is a type of provider in the payments industry that simplifies the process for other businesses to accept credit and debit card payments. Payfac-as-a-service model of embedded payments Because of the substantial costs and risks associated with becoming a payfac and building out an embedded financial infrastructure, platforms are increasingly looking to payfac-as-a-service, which provides all the benefits of embedded payments in a cost-efficient way that’s easier to integrate. A payment facilitator (PayFac) is a merchant services business that sets up electronic payment and processing services for business owners, so. The payfac model is a framework that allows merchant-facing companies to embed card payments into their software—which in turn enables their customers to process payments. For SaaS providers, this gives them an appealing way to attract more customers. Payment facilitation helps you monetize. precise definition of business problems and the ability to drive organizations to solve. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an acquiring bank. The following modules help explain our Global Compliance Programs and how they help us. Any investments made now will need updates over time to meet changing regulations and. This model is a distribution channel implemented by the payment networks (e. A PayFac: Manages all vendors involved with merchant services A payment facilitator (payfac) is a type of service provider that enables businesses to accept different forms of electronic payments, such as credit and debit cards, ACH, and echecks. Any investments made now will need updates over time to meet changing regulations and. The definition of a payment facilitator is still evolving—so is its role. The definition of a payment facilitator is still evolving—so is its role. g. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. Any investments made now will need updates over time to meet changing regulations and. By definition. Panduan Referensi API PayFac E-Commerce Worldpay adalah dokumen PDF yang berisi informasi tentang cara mengintegrasikan, menguji, dan menggunakan API PayFac untuk menyediakan layanan pembayaran bagi sub-merchant Anda. Or a large acquiring bank may also offer payments. By 2014, we evolved to deliver integrated, white label payments solutions to leading SaaS platforms. The PayFac uses their connections to connect their submerchants to payment processors. Related to PayFac. A Payfac is a third-party merchant service provider that sets up electronic payment and processing services for business owners, so they can accept payments online or in-person. CEO of NMI, says Payment Facilitation (PayFac) may be. In this way, the merchant is protected from losing their money if the payfac goes out of business for some reason. Get the Guide. Tech Phone Ext 1234 Tech. . A payment facilitator is an alternative to the traditional merchant service provider. Payment processors work in the background, sitting between PayFac’s sub-merchants and the card networks. A PayFac platform refers to the technology, tools, and services offered by a Payment Facilitator (PayFac) to enable and manage payments for sub-merchants. The capacities in which a business might be acting that could bring it within the definition of an MSB are:Define PayFac. These functions include merchant underwriting, merchant onboarding, sub-merchant funding, and others. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. They aid those that want to embed payment services into their software to capture new. A PayFac will smooth the path. 6 percent of $120M + 2 cents * 1. If there’s a chargeback, it. The PayFac must properly follow KYC practices and correctly assess the sub-merchants as all transactions can be aggregated under a single merchant ID. For example, the ETA published a 73-page report with new guidelines in September 2018. For some ISOs and ISVs, a PayFac is the best path forward, but. Any investments made now will need updates over time to meet changing regulations and. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. Those sub-merchants. It’s a master merchant account. For example, the ETA published a 73-page report with new guidelines in September 2018. While both the payment facilitator and marketplace models serve to enable payments acceptance for a wider variety of merchant types and sizes than ever before, they are not the same thing. For SaaS providers, this gives them an appealing way to attract more customers. Granted, Aberman noted, if a PayFac only has five payees, it is a fairly easy settlement process handled by cutting a check every week. A payment facilitator (payfac) is a type of service provider that enables businesses to accept different forms of electronic payments, such as credit and debit cards, ACH, and echecks. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. Costs can vary from a low of around . For example, an artisan who sells handmade jewelry online may find the process of setting up their own merchant account daunting or unnecessary, given their lower transaction volume. Now, go ahead and create an account, so you can stop paying card fees, start getting your money instantly without waiting for payouts, and use your savings for something else to make your business thrive. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. Traditionally, each business would need to establish its account with its merchant ID. For example, the ETA published a 73-page report with new guidelines in September 2018. Instead of taking basis points on a transaction, which is the classic dumb-dumb payments mindset, the SaaS model gets them an ~8x revenue multiple. The other movement will be towards SMBs. Most ISVs who contemplate becoming a PayFac are looking for a payments solution that takes the. Traditionally, a business that wanted to accept card payments would need to set up a merchant account with a bank, which can be a complex and time-consuming. PayFac Solution Types. First, it allows monetizing the payment process by becoming payment facilitators. For example, the ETA published a 73-page report with new guidelines in September 2018. Also known as a “PayFac” or merchant aggregator, a payment facilitator is a third party agent that contracts with an acquirer to THE ACQUIRER A Visa Client licensed to provide card acceptance services. For example, the ETA published a 73-page report with new guidelines in September 2018. It depends on your definition of “new. Payfac and ISO models involve much more regulatory and compliance overhead than payfac-alternative models. Classical payment aggregator model is more suitable when the merchant in question is either an. For example, the ETA published a 73-page report with new guidelines in September 2018. Let’s explore some of the reasons why a software. During ETA’s State of Payments, held virtually on January 25, 2023, the ETA’s Payment Facilitator Committee predicted more PayFac growth in 2023, advising ETA members that regional banks and credit unions. ISOs may be a better fit for larger, more established businesses. A PayFac (payment facilitator) has a single account with. What is a payment facilitator, or PayFac? A PayFac is an organization that processes payments on behalf of merchants A payment facilitator is a merchant-service provider that simplifies the payment-collection process for its clients (also called sub-merchants). Classical payment aggregator model is more suitable when the merchant in question is either an. For example, the ETA published a 73-page report with new guidelines in September 2018. For example, if the opportunity to spend. You own the payment experience and are responsible for building out your sub-merchant’s experience. An industry is emerging that can advise, help and give you software to make the leap a lot easier and with a short ramp-up time frame. PayFac platforms offer integration solutions for a wide variety of software types, including eCommerce platforms, shopping carts, invoicing systems, ERP and CRM applications, business intelligence tools, customer support systems and financial reporting programs. The following modules help explain our Global Compliance Programs and how they help us. eComm PayFac API Reference Guide Document Version: 3. Payfac’s immediate information and approval makes a difference to a merchant. Most important among those differences, PayFacs don’t issue each merchant. PAYMENTS AS A REVENUE STRATEGY. We offer ISOs white-labeled PayFac-as-a-Service that is cheaper, faster to implement, and easier to integrate than any build-it-yourself alternative. A merchant can simply partner with a large provider and get all the gateway features it needs within a standardized offering. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. In between, there are overhead costs associated with moving those funds around. In this model, the white-label payfac provider takes care of the underlying technology, payment processing infrastructure, compliance, and risk management. No-cost merchant services is a payment processing model that enables merchants to accept customer credit and debit card payments without incurring the usual fees associated with traditional payment processing services, such as standard transaction fees, interchange fees, and monthly fees. Any investments made now will need updates over time to meet changing regulations and. Unlike an ISO, the funds are initially settled into the PayFac account, and it is up to the. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. Tech Phone Ext 1234 Tech. Dokumen ini juga. The Payfac revenue funnel is a high-level, back-of-the-envelope style model that is useful when making decisions about where to invest resources in a Payfac. The definition of a payment facilitator is still evolving—so is its role. If your sell rate is 2. When a payment processor carries out transactions on. Unlike traditional models where businesses need to establish individual merchant accounts, a PayFac operates as a. com. 01274 649 895. ; Re-uniting merchant services under a single point of contact for the merchant. . It offers the. Growth remains top of mind among all enterprises, and PayFac 2. Just like some businesses choose to use a third-party HR firm or accountant, some. means payment facilitator. While payments companies are garnering ~4x revenue multiples, companies like Finix and Infinicept sell SaaS subscriptions. For example, the ETA published a 73-page report with new guidelines in September 2018. Enabling businesses to outsource their payment processing, rather than constructing and maintaining their own. This manual serves as a reference to the PayFac Merchant Provisioner API. A business that meets one or more of the definitions of a type of MSB (as currently defined) is an MSB and must comply with BSA requirements applicable to it as an MSB, as a financial institution and as a specific type of MSB. Historically, software platforms that wanted to provide their customers with access to payments would. PayFac-as-a-Service (PFaaS): This is a hybrid PayFac model where registered Payment Facilitators extend the use of their platform to ISVs who want to embed payments as features in their core software. Sponsors: Sponsors are the combination of an acquiring bank and a payment processor. PayFac-as-a-Service seems to be the next big thing, he said, and with improved accessibility and time-to-market, we’ll see more new entrants in the market. A payment facilitator (payfac) is a service provider for businesses that simplifies the merchant-account enrollment process. . For example, the ETA published a 73-page report with new guidelines in September 2018. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Any investments made now will need updates over time to meet changing regulations and. Operating within the structure of a payment facilitator streamlines and expedites. or by phone: Australia - 1300 721 163. It’s safe to say we understand payments inside and out. The growth in the number of payfacs, and in the payment volume passing through them, is reshaping key relationships within the payments ecosystem. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. What is a Payment Facilitator and the PayFac Model? A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. The definition of a payment facilitator is still evolving—so is its role. For example, the ETA published a 73-page report with new guidelines in September 2018. Becoming a full payfac typically requires an agreement with a sponsoring merchant acquirer such as Worldpay, registering as a payfac with the card networks, becoming compliant with the Payment Card Industry Data Security Standard (PCI DSS. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. What is a payfac? A payfac, short for payment facilitator, is a type of provider in the payments industry that simplifies the process for other businesses to accept credit and debit card payments. and Tom Humphrey, Till Payments An ETA Payment Facilitator Committee Initiative Words can be confusing in this industry. 26 May, 2021, 09:00 ET. 4. Definition and Role in the Payment Ecosystem. PAYMENT FACILITATOR The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Major PayFac’s include PayPal and Square. FCRA – Payment facilitators pull client credit reports during the underwriting process and are subject to credit reporting laws as defined by the FCRA. For the PayFac, too, the benefits are significant — historically, they had owned the front end, or sales piece, of the relationship with the merchant, while underwriting, risk management and. Download the Payfac app and start charging your customers. Any investments made now will need updates over time to meet changing regulations and. PayFac-as-a-Service By leveraging cloud computing, companies can confidently create secure profiles, Leach noted, and once they create a secure profile, they can deploy it a thousand times, knowing it will remain consistent and secure. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. 3. The definition of a payment facilitator is still evolving—so is its role. What is a Payment Facilitator and the PayFac Model? A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. An acquirer is a bank or a financial institute that receives funds for its merchant from a shopper. But PayFac accounts tend not to scale well as a business’ transaction volume grows, as they typically charge higher transaction fees than merchant accounts. The definition of a payment facilitator is still evolving—so is its role. By definition. Moreover, payments for platforms and payments for ordinary merchants are not the same. For example, the ETA published a 73-page report with new guidelines in September 2018. The PFaaS provider handles all of the risk, compliance and underwriting on behalf of the ISV. Step 4) Build out an effective technology stack. 8–2% is typically reasonable. ISVs own the merchant relationships. Offering similar services to popular payment processing tools like Stripe and PayPal, PayFac is a third-party merchant service provider. PAYFAC IS A NEW INNOVATION. This is known as frictionless underwriting. Any investments made now will need updates over time to meet changing regulations and. Payment. You own the payment experience and are responsible for building out your sub-merchant’s experience. What is a payfac? A payfac, short for payment facilitator, is a type of provider in the payments industry that simplifies the process for other businesses to accept credit and debit card payments. Any investments made now will need updates over time to meet changing regulations and. Beyond a gateway, there are a number of technology systems PayFacs need to have in place to operate competitively. For example, the ETA published a 73-page report with new guidelines in September 2018. In recent years, PayFacs have become increasingly popular in the UK, with many businesses opting to use them to streamline their payment processes. Payment Facilitation as a Service, also known as PayFac as a Service or PFaaS, allows software platforms and SaaS providers the ability to act as a merchant account for their end users. For example, the ETA published a 73-page report with new guidelines in September 2018. Any investments made now will need updates over time to meet changing regulations and. Adopting the Payfac Model. It helps platforms quickly enter the. Zero-fee processing appeals to small, medium,. The definition of a payment facilitator is still evolving—so is its role. The definition of a payment facilitator is still evolving—so is its role. For example, the ETA published a 73-page report with new guidelines in September 2018. How to accept credit card payments without a merchant account Because using a merchant account through a merchant service provider is a relatively bulky and expensive way to handle credit card payments, many. A payfac is also responsible for underwriting and risk assessment, settling funds with submerchants, dealing with chargebacks and disputes, and ensuring compliance with regulations in the payment industry. Essentially the platform acts as a master merchant account and is able to set up sub-accounts for end users instantly. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. La solution de facilitation de paiement proposée par Stripe vous permet de différencier votre plateforme sur des marchés compétitifs, d'améliorer l'expérience des sous-marchands et de générer des revenus substantiels. In many cases an ISO model will leave much of the underwriting as well as settlement and reporting to the acquiring bank. Company means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 5 • API Release: 13. PayFac-as-a-Service. “FinTech companies — PayPal, Square, Stripe, WePay. You essentially become a master merchant and board your client’s as sub merchants. Payment Facilitators offer merchants a wide range of sophisticated online platforms. Get the Guide. The definition of a payment facilitator is still evolving—so is its role. To clarify the matter, we will offer a clear and comprehensive explanation of what is a payment facilitator, its primary functions and business model in this complete guide. “The PayFac takes on risk very much like an acquirer takes on risk,” Mielke. 1. Gateway Features, Specific to Saas and PayFac Payment Platforms: Payment gateway integration. 01332 477 853. Your revenues – (0. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. What is a payfac? A payfac, short for payment facilitator, is a type of provider in the payments industry that simplifies the process for other businesses to accept credit and debit card payments. ; For now, it seems that PayFacs have. Operating within the structure of a payment facilitator streamlines and expedites. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. While we’ll discuss costs below, PayFacs can onboard merchants much more quickly than a traditional ISO model. A payment facilitator, commonly known as a payfac, occupies one of the central roles within the payment processing ecosystem, yet it causes significant confusion. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,. So, MOR model may be either a long-term solution, or a. Founded in 2008, we started by developing payment APIs that help you build your payments infrastructure. 1. For example, the ETA published a 73-page report with new guidelines in September 2018. A registered Payment Facilitator, also known as a “PayFac” or “merchant aggregator” is a third-party business or platform that contracts with an acquirer to provide payment services to their customers, referred to as “sub-merchants. The definition of a payment facilitator is still evolving—so is its role. The definition of a payment facilitator is still evolving—so is its role. A PayFac is a payment facilitation solution for software providers and small businesses that enables them to streamline payments without investing in the infrastructure themselves. Avoid the slow, manual sub-merchant onboarding with other payfac solutions, and offload your payments compliance obligations to Stripe. Payment facilitator model is suitable and effective in cases when the sub-merchant in question is a medium- or large-size business. It offers a system capable of processing payments, providing multiple means for completing a transaction, such as credit cards, debit, e-wallets, instant transfers, bank transfers, and cash in one. Count on a trusted brand. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. What is a payment facilitator? A Payment Facilitator, aka PayFac, is a service provider for merchants. What is a PayFac (Payment Facilitator)? A Payment Facilitator (PayFac) is a third-party service that lets merchants accept various forms of non-cash payments like credit/debit cards or digital payments. We’ll show you how. For example, the ETA published a 73-page report with new guidelines in September 2018. Avoid the slow, manual sub-merchant onboarding with other payfac solutions, and offload your payments compliance obligations to Stripe. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. And right now, it represents an enormous and growing market opportunity as seen in this diagram below. Especially, for PayFac payment platforms and SaaS companies. Renew payfac registration and licenses: Re-register as a payfac with card networks annually,.