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Aug 11, 2022 · Learn the role of payment facilitators, the difference between PayFac as a Service & PayFacs, and how to start accepting payments and generating revenue faster.
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A payment facilitator is a company that allows their customers to accept electronic payments using the payment facilitator’s infrastructure.
A payment facilitator, or PayFac, is a type of merchant services provider (MSP) that equips merchants with payment processing capabilities. In other words, it enables businesses to start processing electronic payments.
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.
Jul 23, 2024 · A Payment Facilitator (PayFac) is an intermediary organization that revolutionized the landscape of electronic payment processing by serving as a gateway for smaller merchants to accept credit card payments.
Aug 17, 2023 · A payment processor is a third-party company that takes on the responsibility of handling digital transactions—including those that use credit and debit cards, digital wallets, and bank transfers —for businesses.
Oct 18, 2023 · A payment facilitator (or Payfac) has created technology that enables an individual or business to trade without establishing a traditional merchant account. The technology business, partners with an acquiring bank to provide payment services to customers who use their technology platform.
