Denver — August 8, 2022 – Infinicept, a leading provider of embedded payments software, today announced the launch of Infiniport, a single, open payment operations capability enabling clients to interface with any processor or alternative payment rail they. A payfac is a platform that intermediates payments between consumers, payment operators (card operators, banks, PSPs, etc. In June 2019 it was acquired and merged into Fidelity National Information Services (FIS). 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 eCheques. 5 All information whether text or graphics, contained in this manual is confidential and proprietary information of Worldpay, LLC and is provided to you solely for the purpose. A PayFac will smooth the path. was an American payment processing company and technology provider. Forging a 21st century commerce ecosystem on a global scale means changing consumer behavior. Obtain appropriate PCI certification, if needed • transmitting and processing card data). Bridge the gap between digital and physical commerce experiences through existing payment. • A MID (Master ID) account is granted to the business after successful registration as a Payfac. Part of the reason for that is the sheer volume of terms used to describe some of the approaches to the space, like PayFac ®, payment facilitator, merchant of record (MOR), embedded. PayFac-as-a-Service Strategy For Higher Exit Multiples. Businesses aren’t created all the same. • start operating. Instruction Search enables Payment Facilitators using Dynamic Payout to find information on sub-merchant funding instructions processed by Worldpay, including credits and debits for Payment Facilitator, sub-merchant, reserve, and vendor (credit only) accounts. The report details the reconciliation to the Payment Facilitator for non-sub-merchant funded transactions. Payment facilitation helps you monetize. Acquiring banks are members of card networks, such as Visa and Mastercard. Also, it’s essential to mention that PayFac is a Mastercard model, while the one for Visa is a payment service provider. Fidelity National Information Servcs Inc. The Commercial Growth Lead will be aligned to our Integrated Payments Referral and PayFac business segments to design, implement, and evolve growth strategy and its execution for those lines of. To best serve you, please read over the following questions before calling the GTSC in order for us to assist you better:The PayFac Sub-merchant Fee Roll-up report is a PayFac report identifying by fee and MID, the transaction count, volume amount, and associated billing amount for the statement date. PayFac Operating account receives funds, but movement to Sub-merchant account fails. e. Merchant Events . Payfac’s immediate information and approval makes a difference to a merchant. Advancing the way the world pays, banks and invests™. Fiserv: Founded in 1984, they process 12,000 financial transactions per second across the card networks. 01274 649 893. Infinicept Combines an End-to-End Payment Facilitator Platform with Unmatched Industry Expertise. (FIs) across more than 100 countries. Before MAPP, she served as the SVP of Payfac and ISO Partnerships at FIS, overseeing growth of the channel. Our fully integrated, API-first technology platform makes payment facilitation quick and manageable by offering: Card-present, card-not-present, mobile and e-wallet solutions. B2B checkout to process all B2B transactions online & offline | payout instantly | automate complex money. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Worldpay eComm PayFac API Reference Guide. This guide applies only to Payment Facilitators who have updated their Worldpay PayFac API to V12. A PayFac-as-a-Service model can be a significant driver for increasing a software company's valuation. S. Logging in and Logging Out. 41 and Adjusted EPS of $1. Full-year 2022 GAAP Diluted EPS was $ (27. In the following table, we offer three options or tiers for background checks: Basic, Premium, and Premium Plus. Public Sector Support. 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 eCheques. 01274 649 893. Code Connect gives access to every category of APIs like Banking, Card Management, Fraud, Payments, Capital Markets and Wealth. Rather than funds being directly settled to the Payment Facilitator’s sub-merchants for the full previous business day activity amount, funds from settled. Select the Settlement Date view. PacFac acquire merchants as sub-merchant and becomes a big merchant. Advancing the way the world pays, banks and invests™. It also needs a connection to a platform to process its submerchants’ transactions. PayFac® solutions, at your service Worldpay from FIS is your advocate for payment facilitator solutions. The total funding instruction credits must be less than your calculated available balance for us to execute the submitted instructions. Legacy systems are a drag — literally. Form IL 505-I. Personal. 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. A PayFac, or payment facilitator, is a merchant services model that streamlines the merchant account enrollment process by onboarding a merchant as a sub-account under the PayFac’s master account. Cardstream Group, which operates Europe’s fastest growing independent white label Payment Gateway, has announced the arrival of its significant new white label PayFac-as-a-Service to the market. Contracts. PayFacs are essentially mini-payment processors. Technology company to Acquirer. FinTech platform FIS has acquired embedded payment company Payrix to boost its eCommerce offerings to companies of all sizes in any industry through embedded payments via Software-as-a-Service. only) - contains data about instructions initially held after an FIS Compliance review. Posting id: 724978407. See how the three most common models compare so you can determine which is the right fit for your business. 54. By using a payfac, they can quickly. Humanity Cincinnati, OH. Software is available to help automate database checks and flag suspicious findings for further examination by a human. Pillar 1: Onboarding and underwriting The PayFac handles all of the compliance checks on new merchant applications and ensures that they are safe to bring onto the platform. (NYSE:NYSE:FIS) Q1 2023 Results Conference Call April 27, 2023 8:00 AM ETCompany ParticipantsGeorge Mihalos -. An example would be a SaaS platform that provides plumbers and home service providers an application that help them. Excluding the impact of a large PayFac client, global volume increased 3% on a reported basis and 6% on a constant currency basis, US volume increased 5%, and transactions increased 3% as compared to the prior-year period. Those sub-merchants then no longer have. 3. But of course, there is also cost involved. Obtain Payments Institution (PI) or Electronic Money Institution (EMI) license if needed (Europe-specific) Build your platform. Code Connect gives access to every category of APIs like Banking, Card Management, Fraud, Payments, Capital Markets and Wealth. Integrate in days, not weeks. 0. The tool approves or declines the application is real-time. PayFac Tax ID Validation Report. 3 billion of capital to shareholders. Become a Payfac Enabler - enabling software & payments companies, and banks to manage their payment’s operations in a payment facilitation model. Understanding the Payment Facilitator model The payment facilitator model was created as a way of streamlining business’ processes in a way that would allow them to accept electronic. The PayFac Portal is a user interface that allows payment facilitators to easily add, edit, view, and search for legal entities and sub-merchants. Choose a sponsoring acquirer and register with them as a Payfac. WELCOME to the FIS Developer Community. ; For now, it seems that PayFacs have. Each time you create a Legal Entity/sub-merchant, Worldpay performs background checks to assist you in vetting your client, as required by government and network regulations. Though they both operate in the payment processing industry, they have distinct differences that can impact businesses in various ways. Worldpay is facilitating big moves. Cross River 4. Please follow Worldpay and FIS. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be necessary. Advancing the way the world pays. . Global expansion. This blog post explores. Legal Entity and Sub-Merchant Creation Process; Background Check Options; Accessing the PayFac Portal. That said, the PayFac is. FIS/WorldPay Payfac. PayFac is more flexible in terms of providing a choice to. ) Easy Apply. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. In this way, the merchant is protected from losing their money if the payfac goes out of business for some reason. Balance Summary Report. 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. - Fri. This registration allows us to support software platforms that: Want to go live in days rather than months. Priding themselves on being the easiest payfac on the internet, famously starting. Generated Diluted EPS of $0. (NYSE: FIS) through recently acquired payment company Payrix and JPMorgan Chase & Co. 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. Obtain PCI DSS Level 1 certification. Enter the payment facilitator (PayFac) model. FIS has reported its fourth quarter 2022 earnings. Third-party integrations to accelerate delivery. Worldpay, Inc. A relationship with an acquirer will provide much of what a Payfac needs to operate. You own the payment experience and are responsible for building out your sub-merchant’s experience. Russ Jones. Payment facilitators control the onboarding process for their customers – referred. • The sponsoring acquirer reviews the Payfac on an annual basis. Reserve Debit 3 - $20,000. Payfac Pitfalls and How to Avoid Them. ©2020 FIS. A guide to accepting card payments efficiently and smoothly – use it to ensure you receive prompt payments to your bank account and. Reap the rewards of being a full platform payments solution, without taking on the risk, compliance, and investment. FIS Acquisition of Payrix Expands its Offerings to Include Payfac as a Service. 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. It can go by a lot of other names, such as a hybrid PayFac model. New Payfac jobs added. 70. The obligation to manage and monitor merchant and third-party agent relationships has been a long-standing Visa client responsibility. If the merchant fits the requirements, PayFac onboards is a sub-merchant under the master MID. Reconciliation Report. 178. The risk is, whether they can. Most often, payment facilitators handle funding for submerchants through “for benefit of” (FBO) accounts. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. 52 per common. 4 months ago. Below are the login procedures to follow for both FIS employees and community members: For FIS Employees Only. S. Position Type. You own the payment experience and are responsible for building out your sub-merchant’s experience. The PayFac Funded report view of the PayFac Reconciliation Dashboard provides summary and detailed data for the standard funding model. We have APIs for all business types, whatever your size or location and whether you take payments online or at point of sale. As of April 1, 2023, merchants using Worldpay from FIS may notice some transactions with a new or increased Transaction Risk Fee (TRF). 176. Call me on my cell at 904-571-5480, email Andrew. 10, 2022 /PRNewswire/ -- Finix, the payments technology company for software platforms, announced today that it has raised $30M in fresh capital, bringing the company's total. Companies offering PayFac solutions for merchants include Fidelity National Information Services Inc. A payment facilitator provider is an aggregated merchant account provider that allows merchants to accept credit cards without individual merchant accounts. FIS Use of Non-GAAP Financial Information. Effective April 2023, Worldpay is implementing a $0. 46 208. A PayFac will smooth the path. , February 13, 2023 – FIS® (NYSE:FIS), a global leader in financial services technology, today reported its fourth quarter and full-year 2022 results. Payfac Submerchant Boarding . , February 13, 2023--FIS® (NYSE:FIS), a global leader in financial services technology, today reported its fourth quarter and full-year 2022 results. This document is intended to answer frequently asked questions related to PayFac Dynamic Payout, which is a method of distributing funds primarily to your sub-merchants and yourself. Businesses can create new customer experiences through a single entry point to Fiserv. payments world. PayFac offers clients a choice if they wish to pay by cheque or bank transfer. Business software platforms typically solve a business problem for a merchant, such as appointment scheduling. :; Who we serve. You own the payment experience and are responsible for building out your sub-merchant’s experience. On an organic basis, revenue increased 5% as compared to the prior-year period. 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. Payments Models. Card brand rules require the sponsor to monitor the Payfac’s compliance with operating rules and regulations and ensure the Payfac’s due diligence when boarding and overseeing submerchants. Companies offering PayFac solutions for merchants include Fidelity National Information Services Inc. 52. All the tools you need to manage your payments platform. Get the ultimate PayFac experience with the tools you need to onboard sub-merchants, collect payments on your schedule and reduce risk. Payment facilitation allows SaaS and digital platform businesses to onboard merchants, provide payment processing on their behalf, and handle the myriad complexities of managing transactions. Payment Facilitator Global Opportunity Analysis and Industry Forecast. FIS United States 6 days ago Be among the first 25 applicants See who FIS has hired for this role. November 3, 2022. The Add Sub-Merchant screen appears, as shown in Adding a Sub-Merchant. 3. The payfac typically retains control over the merchant experience by providing instructions to the bank on how and when to pay out the funds, but the bank retains control of the money. All su ch information is protected by copyright laws and international treaties. Underwriting is a risk assessment practice that helps the PayFac entity understand the nature of the sub-merchant business and the risks involved in onboarding such a profile. The PayFac executes all the tasks a payment processor needs to onboard a client and gives the ISV a seamless experience. Global expansion If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be necessary. Companies offering PayFac solutions for merchants include Fidelity National Information Services Inc. On January 26, 2023, FIS' Board of Directors approved an increase to the regular quarterly dividend to $0. Strategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS GlobalExcluding the impact of a large PayFac client, global volume increased 3% on a reported basis and 6% on a constant currency basis, US volume increased 5%, and transactions increased 3% as compared to the prior-year period. Dynamic Payout Held Funding Instructions Report (U. One of the main benefits to adopting the Payfac ® model is the increase in revenue you get from each transaction processed using your software. Generally Accepted Accounting Principles (GAAP) is the term. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award Recognition Finix is now a registered payment facilitator (payfac). The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. 71 • Full-year 2022 GAAP Diluted EPS was $(27. Early adopters and innovators have shown that. While there are many benefits of integrating to a Payfac, two of the most notable are frictionless onboarding and risk, liability and costs associated. 4. Carat drives more commerce. Code Connect: FIS Code Connect is an API Marketplace or API Gateway, which provides one-stop access to all APIs across FIS. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. The PayFac model offers traditional acquirers more options, expanded control, and higher rewards. Excluding the impact of a large PayFac client, global volume increased 3% on a reported basis and 6% on a constant currency basis, US volume increased 5%, and transactions increased 3% as compared to the prior-year period. Carat is the Fiserv omnichannel commerce ecosystem that delivers unlimited global payment opportunities across any channel. You receive notification (via iQ or SSR) of a rejected funding Instruction distributing funds to the Sub-merchant (FISC). Download the Payfac app and start charging your customers. The information in the report is based upon the settlement transfer date. Payfacs do not have access to those funds. Payment processing up and running in weeks. Click the Add button at the top right of the page. Returned $1. PayFacs provide a similar service to standard merchant accounts, but with a few important differences. With a payment facilitator, businesses can quickly and easily. Let FIS help you make the leap from traditional to digital assets across payments, banking and capital markets. Underwriting Platform. FISWelcome to Fintech Insights. eComm Dynamic Payout Information. UK domestic. While the PF can control the merchant experience by directing how the funds are to be paid out. 28), and fourth quarter Adjusted EPS decreased 11% to $1. The business has gone through the traditional setup of a merchant account in its name and is registered as a Merchant. A payment facilitator (or PayFac) is a payment service provider for merchants. S. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. For example: PayFac Sub-Merchant ID Merchant_25 becomes d_Merchant_25_2015_04-14. The PayFac Sub-Merchant ID changes to reflect the disabled status and date. Corporate Gateway account login (MAI). Code Connect offers many API products for Modern Banking Platform in its API catalog. The PayFac uses their connections to connect their submerchants to payment processors. 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. FIS Reports Third Quarter 2022 Results. Access e-Login using your SSO login and passwordFIS Reports Fourth Quarter and Full-Year 2022 Results - Form 8-K. These PayFac-in-a-box models are also intelligently priced. Processor relationships. This simplifies the onboarding process and enables smaller companies to roll out E-commerce solutions more quickly, while simultaneously expanding the number of transactions received by FIs. Learn how #WorldpayforPlatforms is helping SaaS property management platform, ResMan, take up residence as a #PayFac…No two payments journeys are the same. 4. fisglobal. Fundamentally, the term refers to an acquiring bank – the bank that holds the merchant’s account, accepting the deposits from the merchant’s transactions. Unlike an ISO, the funds are initially settled into the PayFac account, and it is up to the. Businesses aren’t created all the same. That Payfac has a higher probability of encountering identify theft and other fraud risks during underwriting than a Payfac serving a particular vertical, she said. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionStrategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS GlobalStrategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS Global careers. FIS United States. These banks are also known simply as issuers. 70. Comprehensive health, dental, and vision benefits. com 49A white-label payfac, also known as payfac-as-a-service, is a business model in which a company uses a third-party payfac platform to offer payment processing services under its own brand name. 179. Adyen grew gradually, initially starting as a Payfac of larger payments groups (e. Easy access to real-time merchant data and reporting. He guided Shopify as it grew from 50 to more than 3,000 employees, helped the company go public in 2015, and worked with Infinicept to make Shopify a. One FTE is sufficient until $250M in processing volume, then you’d need to add more bodies. Fidelity National Information Servcs Inc. jobs in Cincinnati, OH. The world of payment processing has its fair share of acronyms, and two of the most popular are PayFac (Payment Facilitator) and ISO (Independent Sales Organization). Terminal Events . 292. To manage payments for its submerchants, a Payfac needs all of these functions. Happy to chat and brainstorm strategies. ©2020 FIS. The payfac typically retains control over the merchant experience by providing instructions to the bank on how and when to pay out the funds, but the bank retains control of the money. 71. 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. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. Shows the real-time balance of all PayFac accounts as of the date/time generated. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. PayFac clients want a fast and easy experience, from the moment they contact a PayFac for services, to the onboarding process, to the compliance checks after they have been onboarded. The former CFO at Shopify, Jones is a seasoned financial and business leader with nearly 40 years of experience. Recurring Revenue Stream. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. com, or send me a Linked In message. Identifying these incidents via the Infinicept system quickly is an easy first step to take in halting such. GETTRX has over 30 years of experience in the payment acceptance industry. FIS Reports Third Quarter 2022 Results. A payfac is a type of payment aggregator, but it typically provides a more comprehensive suite of services. vantivcnp. The ISO, on the other hand, is not allowed to touch the funds. Payrix enables vertical SaaS companies to: Unlock greater revenue by monetizing your payments; Create better UX through payments with our white labeled, powerful platformDiscover, integrate and secure payments across your sales channels with our range of APIs. 02 . While payments companies are garnering ~4x revenue multiples, companies like Finix and Infinicept sell SaaS subscriptions. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. “At a management or board level, the sponsor bank needs to make the decision about its risk / reward appetite,” Spalinger said. The unique identifier for the pre-set profile associated with this. Generally Accepted Accounting Principles (GAAP) is the term used to refer. a merchant to a bank, a PayFac owns the full client experience. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionFinix is now a registered payment facilitator (payfac). Excluding the impact of a large PayFac client, global volume increased 4% on a reported basis and 8% on a constant currency basis, US volume increased 7%, and transactions increased 3% as compared to the prior-year period. 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. Strategic Partnership Manager - PayFac. The operations and functionalities described do not apply to previous versions of the PayFac API. Every time an electronic payment transaction occurs (so quick and easy on the surface), that single transaction is a drop in a massive ocean that involves various companies to make that possible. ,), a PayFac must create an account with a sponsor bank. 01332 477 853. To log into the PayFac Merchant Onboarding system: Launch your browser and navigate to the following URL for access to the iQ Merchant Onboarding System: JACKSONVILLE, Fla. 3 billion of capital to shareholders through share repurchases and dividends paid. As the payments landscape evolves, businesses seek new ways to accept customer payments. Explore our articles, reports, videos and. The most known examples are website-building companies which can provide integrated payment options, meaning ecommerce customers will see their experience improved as they will no longer need to actively look for third-party payment solutions. Worldpay, Inc. Full-year 2022 GAAP Diluted EPS was $ (27. Strategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS Global careers. Enabling businesses to outsource their payment processing, rather than constructing and. 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. from startups to scaled companies like FIS and Fiserv. With Payrix Pro, you can experience the growth you deserve without the growing pains. Worldpay, Inc. Integrate within a few days, onboard your merchants, accept payments and issue payouts. Card brand rules require the sponsor to monitor the Payfac’s compliance with operating rules and regulations and ensure the Payfac’s due diligence when boarding and overseeing submerchants. Provides update on previously announced Enterprise Transformation Program. 10 fee for all Visa transactions with POS Entry Code (91) MSD. If the Tax ID validation fails, it is indicated in the Legal Entity Background Check Results panel of the PayFac Portal. Code Connect offers many API products for Modern Banking Platform in its API catalog. For example, if you were to process POS transactions on the Core platform and eComm transactions on the eCommerce platform. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionA payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Want to become payfacs themselves someday. Connect the bank account that you want to receive your money. 03. 6 billion. Choose a sponsoring acquirer and register with them as a Payfac. FBO accounts are accounts at the acquiring bank that segregate the submerchant’s funds from the PF’s funds. 46 208. With an 11 year career in electronic payments and a lifetime passion for all facets of technology, Aaron was excited to join this rapidly growing company to focus on delivering a world-class experience. They’re also assured of better customer support should they run into any difficulties. payment transactions they process are sent to Worldpay from FIS. PayFac business is high-quality and growing >60%, worth $6/share today and $24/share in 2027. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. That’s because non-financial companies are now able to provide payment processing services for their clients or sub-merchants. A PayFac, or payment facilitator, was originally defined by Visa® and Mastercard® to describe the entity that is officially doing business with the card brands. Improve the effectiveness and efficiency of your payments organization structure and staffing model. Accept hundreds of currencies and payment methods including online, mobile, point-of-sale, subscriptions, billing and invoicing at scale. (NYSE: FIS) through recently acquired payment company. The payment facilitator, or “PayFac”, model of merchant acquiring is growing extremely rapidly. For more information on legal entity processing and the Worldpay PayFac API, see the latest version of the Worldpay eComm PayFac Integration Overview Guide and the Worldpay eComm PayFac API Reference. To log into the PayFac Merchant Onboarding system: Launch your browser and navigate to the following URL for access to the iQ Merchant Onboarding System:JACKSONVILLE, Fla. 68), and full-year 2022 Adjusted EPS increased 2% to $6. Using the PayFac Portal. Maintaining compliance with card brand requirements is compulsory to operating a payments business and applies to ISO’s, acquirers, and payment facilitators. PayFac Portal - Introduction. I am ending my journey with FIS, what an amazing 11 years going back to Fifth Third Processing Solutions. November 3, 2022 at 7:00 AM EDT. So naturally, any company considering the option needs to make sure the investment they’ll make in the Payfac model makes sense financially. The PayFac manages regulatory compliance, merchant onboarding, funding to bank accounts, and more on behalf of sub-merchants. g. Access e-Login using your SSO login and passwordRenew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Last Update. Once you’ve been authorized as a payment facilitator, the ongoing costs continue often exceeding $100,000 a year. Reserve Debit 2 - $50,000. ©2022 FIS. Ongoing Costs for Payment Facilitators. 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. Payrix Acquired by FIS to Expand E-Commerce, Embedded Payments and Finance Experiences for SMB Merchants via Platforms. Square, a payment facilitator (PAYFAC) designed for merchants with less than $10K per month processing volume, for example, is a non-traditional acquirer because they are also a credit card processor and are most known for their payment processing services above all else. That means they have full control over their customer experience and the flexibility to. Step 2: Segment your customers. For the best experience, members of our developer community need to login to securely use all of our community features. Visit PayScale to research FIS salaries, bonuses,.