Gateway Selection for SaaS and PayFac Payment Platforms; Best Crypto Payment Gateway Solutions for Platforms; How PayFac Model Increases Your Company’s Valuation; Payment Advice. After all, option No. History of payfacs. 3 Ratings. Facebook is the largest social media platform in the world. The Stripe payfac solution, which enables platforms to move faster to embed and monetize payments and whitelabel other financial services such as issuing cards and loans. 6. Card boxes and sleeves. On the one hand, these services unlock purchasing power, helping customers manage their finances by accessing affordable, low-cost credit. How can we make these interactions seamless, scaleable and safe? Stripe’s initial creation was really a vertical or linear digital product play, providing a best-in class payfac to companies looking to accept payments. Best Forex Brokers for 2023. A single PayFac-as-a-Service solution gives your bank the ability to help your SMB clients reach their objectives by: Retaining more customers – Keeping up with the current payment acceptance solutions ensures your SMB client won’t lose its customers to other, more technologically advanced alternatives. Our suite of tools and services offers a choice of funding options, settlement, revenue generation, and risk management capabilities for payment facilitators. May 31, 2023Compare the best Payment Facilitation (PayFac) platforms for BigCommerce of 2023. 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. Peacock From now until November 28, folks can sign up for Peacock Premium at. More Than a Payments Company. A robust technology platform forms the foundation of the PayFac infrastructure. We handle partial payments, automatic failed payment retry, and automatic payment recovery. Linkedin'ers!!! What. View Platform. We’ll work one-on-one with you to determine which of our solutions fits your business needs and develop a go-to-market strategy to enable you to sell your solution. Here are 6 of the biggest ones: Cost-effective infrastructure: An instant upgrade to industry-standard best practices, product upgrades, and security for a monthly price without building expertise in a non-core business area. With annual sales in the billions, Etsy is considered to be a lucrative platform for online selling. If your rev share is 60% you can calculate potential income. Multiple business models with one tech stack lets you scale from zero-overhead payments revenues to licensed payfac on one platform. The 5 Best Crypto Payment Gateways For Businesses. $35/user/month. With the addition of NextChapter, two of the three largest bankruptcy legal software developers have now chosen Usio and its Payfac-in-a-Box™ technology as their electronic payments solution. An example would be a SaaS platform that provides plumbers and home service providers an application that help them. 8. MailerLite: Best for. Public Sector Support. Explore the full list below. Gateway Selection for SaaS and PayFac Payment Platforms; Best Crypto Payment Gateway Solutions for Platforms; How PayFac Model Increases Your Company’s Valuation; Payment Advice. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. Payfactory, a fintech payment facilitator for software platforms, has announced a growth investment from Bluefin, the recognized integrated payments leader in P2PE encryption and vaultless tokenization technologies that. The Best Email Marketing Software of 2023. Titan Fitness Rubber Deadlift Platforms. There are numerous PayFac-as-a-service benefits. Transaction Settlement. 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. account statuses, and more to create best-in-class user experiences. Message*. Find out what is required and apply for this job on Jobgether. PAYMENTS AS A REVENUE STRATEGY. The best Stripe competitors combine transparency, low processing fees, and excellent support for eCommerce. IntelliCorp. To empower this freedom, payfac partners should be offering total visibility into underwriting and risk staging so software platforms can feel comfortable and secure in each stage of the embedded. e. It can bridge gaps between multiple solutions and even extend. 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. Strategies. History of payfacs. Contact us. Pros: Established platform. Here is the best webinar software in 2023, based on pricing, features, ease of use. A PayFac is a third party services provider that acts as an intermediary between merchants and payment processors. Accept hundreds of currencies and payment methods including online, mobile, point-of-sale, subscriptions, billing and invoicing at scale. Integrate Evolve's payment service technology into your software platform and you can start offering your customers a seamless payments journey right away. Transfer funds instantly to cards or directly to bank accounts. This registration allows us to support software platforms that: Want to go live in days rather than months. Apply for the Job in Payments Platform Support Lead at Cincinnati, OH. On. 2M) = $960,000 annually. NerdWallet evaluated forex brokers on their trading platforms, commissions and currency pairs to determine the best brokers for trading currency. With Fortis’ PayFac solution, software developers and merchants can leverage award-winning APIs and leading payment technology to scale their business. Grow your business with automated revenue and finance. com. More commonly, a PayFac will enable you to set up a sub-merchant account, making it much easier to set up an account and begin accepting customer payments. Most important among those differences, PayFacs don’t issue each merchant. A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. Understanding the Payment Facilitator model. The Power E*Trade platform is one of the highest rated, and both the standard E*Trade and Power E*Trade platforms are. History of payfacs. History of payfacs. When it comes to choosing between a PayFac and an ISO, the best option depends on your business's specific needs and preferences. A PayFac-as-a-Service (PFaaS) is a solution that allows non-financial businesses to act as payment facilitators or PayFacs. Our PayOps platform allows payments companies, software providers and financial institutions to scale their payments operations and have total ownership of their payments. The best crypto payment gateways provide convenient interfaces for accepting multiple types of cryptocurrencies, flexible settlement options, and low fees. What is a PayFac platform? A PayFac platform refers to the technology, tools, and services offered by a Payment Facilitator (PayFac) to enable and manage payments for sub-merchants. $35/user/month. Infinicept Combines an End-to-End Payment Facilitator Platform with Unmatched Industry Expertise. TD Ameritrade became a subsidiary of Charles Schwab Corp. Evolve Support. What is a PayFac? RB: A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. 1. The way Terminal creates API objects depends on whether you use direct charges or destination charges. We enable payments for over 3,200 partners and over 260,000 merchants around the world. If you need to contact us you can by email: support. Post a job About Us. A typical promising platform may be best served by a payfac-alternative model. 0 web platform offers market watch, advance charting with more than 100. 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. But the model bears some drawbacks for the diverse swath of companies. 6 percent of $120M + 2 cents * 1. If your business falls into one or more of these categories: SaaS companies. Business Integrations. Payment Facilitation (PayFac) Platforms. Additionally, PayFac-as-a-service providers offer increased security measures. Save on banking costs and access highly competitive FX rates. The platform could apply for a merchant account and become its own PayFac, but that is a resource-intensive process. 1. Phone Number*. Talk to our sales team, request a demo, or get technical support. Generally, ISOs are better suited to larger businesses with high transaction volumes. Handpoint is an Embedded Payments Platforms for the Point of Sale, enabling PSPs and SaaS companies to supercharge their growth. For the. 3 BIN and Acquiring Identifier License and Administration 158Maximize profitability. Payments for platforms and marketplaces. Exact Payments is a team of payments experts with years of experience helping clients build and manage payments solutions. By combining the roles of payment processor and payfac, Stripe provides a versatile and powerful solution that caters to a wide range of business needs. What is a PayFac? RB: A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. Embed financial services in your platform or product. A PayFac sets up and maintains its own relationship with all entities in the payment process. Here are nine myths about PayFac platforms that are rooted in that past and in an environment of fear, uncertainty, and doubt. PodBean is a podcast hosting platform with live streaming capabilities. 2) PayFac model is more robust than MOR model. Germany. More importantly, merchants that use those platforms do not need a direct relationship with a payment gateway or the acquiring bank. I/C Plus 0. Gross revenues grew. 1. Cross-platform data sharing Enjoy full control over fast, smooth, and 100% secure data sharingOur team has over 30 years experience. Start. On Robinhood's Secure Website. For a mere $14 per month (with no long-term commitment), SkillShare gives you unlimited access to thousands of hands-on classes related to all. Stax's API is designed to make it easy for ISVs and developers to power their payments. History of payfacs. The Stripe payfac solution, which enables platforms to move faster to embed and monetize payments and whitelabel other financial services such as issuing cards and loans. Start generating profits from every. Payfac is a contracted Independent Sales Organisation (ISO), so they have the responsibility to manage their own sales agents and underwriters and adhere to the rules of the card associations. Stripe is the best software platform for running an internet business. Send on-demand and scheduled payouts to users. Compare the best Payment Facilitation (PayFac) platforms for Leadmonk, read reviews, and learn about pricing and free demos. 1. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. A team of global experts delivering the future of commerce. The Stripe payfac solution, which enables platforms to move faster to embed and monetize payments and whitelabel other financial services such as issuing cards and loans. These materials and best practice . Make and take payments. The key roles and responsibilities of a Payfac model PSP (as a master merchant) include: Onboarding sub-merchants: The PSP is responsible for vetting and approving sub-merchants to ensure they. Compare the best Government Payment Facilitation (PayFac) platforms of 2023 for your business. The Stripe payfac solution, which enables platforms to move faster to embed and monetize payments and whitelabel other financial services such as issuing cards and loans. Compare the best Payment Facilitation (PayFac) platforms for Primer currently available using the table below. It’s important for any business leader to understand both approaches and what each process entails. Compare the best Payment Facilitation (PayFac) platforms in Germany of 2023 for your business. PayFac platforms have started to realize this and now offer a model that reduces or eliminates risk exposure. Usio is headquartered at 3611 Paesanos Pkwy #300, San Antonio, Texas 78231. Integrate Evolve's payment service technology into. CHAPTER 2: RISKS AND REWARDS. Real-time Payments and Global Bank Transfers. Gateway Selection for SaaS and PayFac Payment Platforms; Best Crypto Payment Gateway Solutions for Platforms; How PayFac Model Increases Your Company’s Valuation; Payment Advice. Find the highest rated Payment Facilitation (PayFac) platforms in Germany pricing, reviews, free demos, trials, and more. The first is the traditional PayFac solution. What SaaS & E-commerce Companies Need to Know About Payment Facilitator Regulations, and what key regulations. To put it simply, a PayFac is a service provider specifically for merchants. CMC Markets - Excellent overall, best platform technology. Merchant Card Processing Operating Guide v7. Empowering commerce for all starts with our inclusive and diverse workforce. Titan Fitness Deadlift Platform. Implementation of PayFac model creates a new revenue stream and, thus, increases the bottom-line annual revenue of the company, leading to valuation growth. The payfac model is a framework that allows merchant-facing companies to. Thus, an ISO’s customers can access a wider range of processors, even if the onboarding experience is tedious. but so you have the easiest and best payments solution for your business. Payment Processing: BlueSnap is processor agnostic and provides integrations to all types of payment solutions from credit card payments, ACH, SEPA to wires. | The Federal Reserve Board has announced price changes for 2024 that will raise the price for established, mature services by an average of 1. 01274 649 893. Compare the best On-Premise Payment Facilitation (PayFac) platforms of 2023 for your business. The Worldpay PayFac® experience goes the distance from boarding sub-merchants to collecting payments, reducing risk, and more. 01274 649 895. Stripe is the best software platform for running an internet business. Stripe is the best platform to run an internet business. View Platform. 2 could very well involve companies hiring his firm to serve as PayFac. For instance, our PayFac platform has increased the number of Independent Software Vendors (ISVs) under contract, especially in the targeted healthcare, utility and similar bill-centric industriesPayment technology evolves quickly; you need a partner that stays ahead of the curve. UniPay Gateway is the leading Omnichannel payment processing and management solution for PayFacs, Saas and equity firms operating worldwide. Compare the best Payment Facilitation (PayFac) platforms in Mexico currently available using the table below. Although its net profit only increases by 0. Gain a higher return on your investment with experts that guide a more productive payments program. This Operating Guide describes the procedures and methods for submitting Card Transactions for payment, obtaining authorizations, responding to chargebacks and media retrieval requests, and other aspects of the operations of TSYS services. This year we have expanded to new verticals in Online Trading, Fintech, Digital. Where becoming a PayFac could take as long as two years and cost millions of dollars to. As you might expect and as with everything there is a flip side-namely higher base. A tale which. Estimated costs depend on average sale amount and type of card usage. Merchant account. Resources. Louis Hoch is listed as the vice chairman, president, CEO, and co-founder of Usio. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. Private Sector Support. 0, doing so has historically not been an easy feat. When you work with us you’ll access one of the world’s largest payment networks, 24/7 dedicated customer support and lower charges on every transaction. As such, read on to discover how the PayFac model works, how to get the best out of it, and how your company can become a payment facilitator. 80 assuming a 2. ACH and Express ACH. Usio’s acquiring business, which includes their PayFac platform, saw a 35% increase in transactions processed in the second quarter of 2022 (over the same quarter in 2021) and represented the. It indicates a way to close an interaction, or dismiss a notification. Chances are, you won’t be starting with a blank slate. 8–2% is typically reasonable. These training sessions can cover various topics such as data security, privacy laws, PCI DSS, and best practices for secure payment processing. A remittance service provider is an individual, business or organisation that accepts instructions from customers to transfer money or property to a recipient. We handle billions of dollars every year for forward-thinking businesses around the world. A solution built for speed. ISOs often provide a range of services, including equipment sales or leasing—for example, point-of-sale (POS) terminals —transaction processing, and customer service. Etsy charges a 20¢ listing fee for each item. Stripe The new standard in online payments. View: Open Source Commercial. Payment Facilitator is the #1 leading PayFac for payment processing available including fiat and blockchain payment processing. PayFac-as-a-Service. Payment facilitators, commonly referred to as PayFacs, are intermediaries who are able to deliver value to the payments industry by a simple match merchants01332 477 853. Best provider for nextgen omni-commerceInstead, in the PayFac model, a small business gets a submerchant account under the master merchant. 9% and 30 cent processing fee. or by phone: Australia - 1300 721 163. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. Reduced Development Burden. Exact’s corporate headquarters is located at 7272 Indian School Road, Suite 101, Scottsdale, AZ 85251, and all notices may be mailed there to Attn: Legal Department. Blog White Papers Remote trends in 2023. 6. Plus, you’ll enjoy the ease of flat-rate pricing, support for a. On BetterHelp's Website. PayFacs and payment aggregators work much the same way. Clear All Filters. Payfactory specializes in embedded payment facilitation (payfac) services for ISVs and SaaS companies. The PSG* is the master PayFac. Our APIs enable you to build and scale end-to-end payments experiences, from instant onboarding to global payouts, and create new revenue streams—all while having Stripe handle payments KYC. Today, there are more than 4. Gamegenic 500-card acrylic organizer is $20. The growth in the number of payfacs, and in the payment volume passing through them, is reshaping key relationships within the payments ecosystem. PayFac vs. Exchange in-app messages with your therapist at any time. The Stripe payfac solution, which enables platforms to move faster to embed and monetize payments and whitelabel other financial services such as issuing cards and loans. , Walnut Creek, California, and Central Bank of St. By David Willey, BenzingaA PayFac is the official merchant of record with the major card brands such as Visa and Mastercard and holds the relationship with the acquiring bank. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Explore the current offerings for the best Black Friday 2023 streaming deals below. Stax Connect is a unique payment ecosystem that allows for unparalleled portfolio growth via technology and payment monetization. A PayFac’s acquirer bank is ultimately responsible for compliance with the various payments and money transmission regulations, managing. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. TD Ameritrade - Best desktop platform, U. The platform management should be able to control these basic features. Are processing any amount in total payments volume (TPV)—from $0 to over $1B. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. Solutions Developers Resources Contact Sales. First popularized by firms like PayPal and Square, the payments facilitator (payfac) model is reshaping the payments ecosystem, allowing nonpayments companies that adopt it to participate more fully in the payments revenue stream. These systems will be for risk, onboarding, processing, and more. Please support Choosing the Right PayFac Platform: Key Factors to Consider. With UniPay Platform you have the options of an affordable white label payment gateway solution, a full on-premise. With the growth of off-the-shelf PayFac offerings known as PayFac-as-a-Service (PFaaS) solutions, ISVs or VARs can get up-and-running fast with. Our nine-part series with James Shepherd on “Monetizing Payments for SaaS Platforms” serves up. ), and merchants. Data & Analytics. We partner with companies of every shape and size, offering all the features and. WordPress: Best for customization. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. Find the highest rated Payment Facilitation (PayFac) platforms that integrate with BigCommerce pricing, reviews, free demos, trials, and more. The 5 Best Crypto Payment Gateways For Businesses. Infinicept’s PayOps™ platform provides the sponsorship and oversight tools you need to seamlessly run your payments program, without missing a beat as a best-in-class bank, acquirer or sponsor. 1. Take control of compliance. eCommerce Shopping Cart. This affords more control over the customer experience, pricing, and speed. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. Green Man Gaming lacks browsing tools. One of the most popular and impactful of those shared technologies is customer resource management software – platforms that offer the prospecting, sales, and service delivery tools ISOs. If you are an existing Bambora customer who needs assistance there are our support guides that can be found here. Becoming a payment facilitator is a change to your operational and support models, has and it pays long-term benefits. Earn on every payment with flexible commission pricing per customer. This article is part of Bain's report on Buy Now, Pay Later in the UK. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. Discover Adyen issuing. 1. 99 (was $39. What is a payfac? A payfac or PF, short for payment facilitator, makes it possible for you to accept payments from customers in a variety of ways, including card payments, direct debits, local payment methods, and alternative payment methods like mobile and digital wallets including Apple Pay and Google Pay. $35/user/month. Those sub-merchants then no longer. To become a PayFac, the platform needs to pay considerable annual registration fees and deal with a lot of paperwork. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. Deployment SaaS 5; iPhone 4; Android 3; iPad 3; Mac 2; Chromebook. PayRix claims to be the only full-service payment facilitator platform targeted at marketplaces, SaaS platforms, and PayFacs themselves. LG rewrote the rulebook for smart platforms with its webOS, starting the trend for minimal, simplified user interfaces back in 2014. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. Two crossed lines that form an 'X'. Payrix Description. Your family members, neighbors, and gym partners will thank you. Our technology enables businesses to scale, fast. Payment Processors Which PSP work with fintech and trading verticals? what do they offer? find all here uEnjoy优享 B2BinPay Find more PayFac Model Serving Merchants For starters, the. 3 Ratings. As such, read on to discover how the PayFac model works, how to get the best out of it, and how your company can become a payment facilitator. A payment facilitator (payfac) is a service provider for businesses that simplifies the merchant-account enrollment process. Compare the best Payment Facilitation (PayFac) platforms in the UK of 2023 for your business. GETTRX's PayFac-as-a-Service allows SaaS platforms and ISVs to lower customer acquisition costs, and increase customer engagement. Flickr photos, groups, and tags related to the "integratedpayment" Flickr tag. “In addition, the capabilities that both EpicPay and CMS bring to the business are best-in-class. After consulting with our list of the best online brokers, choose a platform and visit the broker’s website. More commonly, a PayFac will enable you to set up a sub-merchant account, making it much easier to set up an account and begin accepting customer payments. The Payment Aggregator can quickly onboard a new merchant (typically a user of the SaaS offering) and they can begin. Compare the best Payment Facilitation (PayFac). Unlike traditional models where businesses need to establish individual merchant accounts, a PayFac operates as a master merchant account, enabling multiple. Read More . Remittance service providers are also known as ‘money transfer businesses’. Ally Invest. In the last few years, the concept of “PayFac-in-a-Box” has emerged as a path for B2B software companies to become registered payment facilitation providers for less time and money than it would take for them to do it on their own. Unauthorised use may contravene applicable laws including the Computer Misuse Act 1990. Global Payments. A payment facilitator (PayFac) is a merchant services business that sets up electronic payment and processing services for business owners, so they can accept electronic payments online or in-person. A payment facilitator (or PayFac) is a payment service provider for merchants. Research salary, company info, career paths, and top skills for Payments Platform Support LeadInvesting. Crypto News. Recommendations should be independently evaluated in light of your specific business needs and any applicable laws and regulations. responsible for moving the client’s money. We get white glove treatment from Global Payments Integrated—they put clients first. The Epic Platform is a proprietary, PCI-validated, and unified commerce payments solution offering unsurpassed pricing flexibility and equipment compatibility. Marketplaces and payment facilitators are just two of the ways the payments system has evolved to meet this gap in service availability. in 2020, and the two brokerages plan to fully merge in 2023. The Best Blogging Platforms of 2023. If you need to get setup quickly, then a PayFac is probably your best option ISOs often provide a range of services, including equipment sales or leasing—for example, point-of-sale (POS) terminals —transaction processing, and customer service. Payment facilitators, or PayFacs, is a single merchant ID (MID) with a payment service provider and board ‘sub-merchants’ under their own MID, essentially acting as one large merchant account. There are numerous PayFac-as-a-service benefits. So naturally, any company. Simple and least investment for business users to access multiple Government agencies via ISO15000 standard electronic business messaging (ebXML) through NSW. Revenue and Finance Automation. These days, it's still an exceptional smart platform that truly. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an acquiring bank. By bringing payments in-house, platforms can create new revenue streams from transaction fees, significantly boosting revenue per customer. As the organization expands, the. Our unique platform allows merchants and our partners to anticipate and react to future business developments with in-depth and robust analysis that can inform business decisions and drive operational efficiencies. Financial Reporting. The ASC 606 standard on revenue recognition demands that companies ask key questions: Who is my customer?We are hyper-focused on building the best payfac-as-a-service platform to help SaaS platforms… Liked by Justin Bouchard. Where becoming a PayFac could take as long as two years and cost millions of dollars to. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. We understand the details of embedded payments and the options for building a solution that is secure, scalable and compliant. 1- Partner with a PayFac platform that offers an ACH option. They allow future payment facilitator companies to make the transition process smooth and seamless. Just like some businesses choose to use a third-party HR firm or accountant,. Here are the best crypto payment gateway providers, including Coinbase Commerce, BitPay, and CoinGate. 78% of people 40 and under would stay with their bank if it went all digital, according to our recent Expectations & Experiences consumer research, focused on digital banking and fintech services. Typically, it’s necessary to carry all. These businesses unlocked dynamic growth with Stax. The difference between a payment processor and a payment gateway lies in the fact that one—payment the processor—is the service provider facilitating the transaction, while the other—the payment gateway—is the communication channel responsible for securely transmitting the payment data to the payment processor and credit card networks. Leverage our vertical market software expertise. Becoming a PayFac can be ideal and even highly lucrative for some businesses, but it isn't a fit for everyone. 5. Debit and credit users on demand. Kraken is one of the oldest U. It then needs to integrate payment gateways to enable online. 01274 649 893. Pillar 2: Transaction monitoring The PayFac protects against possible fraud by monitoring every transaction that is processed through the platform. Compare the best Payment Facilitation (PayFac) platforms in Asia of 2023 for your business. Pros and cons of PayFac platforms There are advantages and disadvantages to using an ACH payment facilitator. You must be a full blown credit card and ACH Payfac. We would like to show you a description here but the site won’t allow us. One is that it allows businesses to monetise payments effectively. eCommerce merchants $81 billion in 2023. 1. Offering similar services to popular payment processing tools like Stripe and PayPal, PayFac is a third-party merchant service provider. Becoming a Payment Facilitator or PayFac is often a great fit for SaaS platforms that in addition to a business management app also offers a payment processing solution as well as payment specific solutions, e. By PYMNTS | January 23, 2023 | Payment facilitation is among the most vital components of monetizing customer relationships — and the role of PayFacs is often misunderstood. Enhancements With Stax API. What is a PayFac platform? A PayFac platform refers to the technology, tools, and services offered by a Payment Facilitator (PayFac) to enable and manage. Optimized across years of experience onboarding and verifying millions of individuals and businesses, our payfac solution includes real-time KYC checks, sanctions screening, secure card data tokenization and vaulting, and IRS tax threshold tracking and 1099. We champion transparent pricing, and our clear fee structure lets you know precisely what you’re paying for.