Payment Facilitator is the #1 leading PayFac for payment processing available including fiat and blockchain payment processing. Find the top Payment Facilitation (PayFac) platforms in Europe in 2023 for your company. Public Sector Support. 1. 1. But the model bears some drawbacks for the diverse swath of companies. 3 Ratings. Intro: Business Solution Upgrading Challenges; Payment System Integration; Migrating from One Processor to Another; Legacy System ReplacementArticle September, 2023. The Worldpay PayFac® experience goes the distance from boarding sub-merchants to collecting payments, reducing risk, and more. If onboarding clients with no friction is most important to your platform then one of the Payfac option’s is the best fit. On BetterHelp's Website. Merchant account. Here are the best crypto payment gateway providers, including Coinbase Commerce, BitPay, and CoinGate. Payment facilitation (PayFac) platforms are payment infrastructure platforms that enable organizations, merchants, and companies to accept payments online. Track all money movement between your accounts to find cost efficiencies. This means that many third-party TVs, particularly. 03. Our technology enables businesses to scale, fast. Get professional couples therapy. The Visa Global Registry of Service Providers is the payment industry's designated source for information on registered and compliant agents that provide payment-related services to Visa clients and merchants. Hosted Checkout. Kite 3. Compare the best Payment Facilitation (PayFac) platforms in the UK of 2023 for your business. Solutions to support companies throughout the payments system. P. Monetize Payments. Take Advantage of the Biggest Financial Event in London. $60-$90 per week. Creating a live stream on your desktop or via the PodBean app is quick and simple, and you can share your live show on social media. A payment facilitator, also known as a PayFac, is a sub-merchant account for a merchant service provider. One classic example of a payment facilitator is Square. If your rev share is 60% you can calculate potential income. 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. Strategies. We partner with companies of every shape and size, offering all the features and. Payrix enables vertical SaaS companies to: Unlock greater revenue by monetizing your payments; Create better UX through payments with our white labeled, powerful platformTransfer funds with flexible options. UniPay Gateway is the leading Omnichannel payment processing and management solution for PayFacs, Saas and equity firms operating worldwide. Your family members, neighbors, and gym partners will thank you. Payrix enables vertical SaaS companies to: Unlock greater revenue by monetizing your payments. But In 2021, edX was acquired by 2U for $800M. The payfac model is a framework that allows merchant-facing companies to. As a successful payment facilitator, aggregating, triaging, and monetizing the best merchant processing solutions for your customers will result in more satisfaction with PayFac services. Implementation of PayFac model creates a new revenue stream and, thus, increases the bottom-line annual revenue of the company, leading to valuation growth. Optimize choice, convenience and profitability with payment options for everyone, including: Virtual Cards with Digital Wallet Integration. Stripe builds the. The PayFac model emerged to help payment companies reduce the start-up complexity of online payments and offer services to a broader range of. 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. After all, option No. One of the main benefits to adopting the Payfac ® model is the increase in revenue you get from each transaction processed using your software. Transaction Settlement. Usio is headquartered at 3611 Paesanos Pkwy #300, San Antonio, Texas 78231. Wix: Best for drag and drop. Merchant Card Processing Operating Guide v7. If you are not an authorised user of this site, you should not proceed any further. Checks. Focus on your core business and leave payments to the experts. How to PayFac: What Software Platforms Need to Know. Real-time reconciliation reporting;. With PayFac-as-a-Service, you receive an instant upgrade to payments best. Embed, monitor, and monetize merchant payments with Tilled PayFac-as-a-Service. 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. If your sell rate is 2. Drupal: Best for developers. We provide a single point of integration with the world’s most popular payment methods. Stripe builds the most. Phone Number*. What is a payment facilitator (PayFac)? Essentially, PayFacs use the acquiring license of another company to provide payment services to sub-merchants. g. Find the highest rated Payment Facilitation (PayFac) platforms in Canada pricing, reviews, free demos, trials, and more. Estimated costs depend on average sale amount and type of card usage. A PayFac-as-a-Service (PFaaS) is a solution that allows non-financial businesses to act as payment facilitators or PayFacs. More Than a Payments Company. Although its net profit only increases by 0. NerdWallet evaluated forex brokers on their trading platforms, commissions and currency pairs to determine the best brokers for trading currency. Avoid the slow, manual sub-merchant onboarding with other payfac solutions, and offload your payments compliance obligations to Stripe. Stripe The new standard in online payments. Vanguard - Best for Low-Cost Funds. Banking-as-a-Service. Technology platforms and e-commerce marketplaces assist merchants with accepting online payments by providing ditigal services for companies in various industries. 1. Stripe is the best platform to run an internet business. All notices to you and/or Client. Cons: Significant undertaking involving due diligence, compliance and costs. You can produce and monetize a podcast on PodBean. 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. Benefits and criticisms of BNPL have emerged on several fronts. Peacock From now until November 28, folks can sign up for Peacock Premium at. So naturally, any company. Category*. 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. Stripe Connect is the fastest and easiest way to integrate payments into your platform or marketplace. However, one thing to keep in mind is that there’s no authorization layer with. Small banks. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. Save on banking costs and access highly competitive FX rates. Completely customize your payments program to create more value, managing fees and commissions on features that power recurring revenue strategies for your business. Stripe The new standard in online payments. With the exception of processors catering to high-risk industry, they also offer month-to-month billing. Business software platforms typically solve a business problem for a merchant, such as appointment scheduling. Those sub-merchants then no longer. There are advantages and disadvantages to using an ACH payment facilitator. Private Sector Support. The PayFac model brings SaaS companies the incredible benefits of payment monetization along with merchant-friendly payment features that increase client satisfaction. View Platform. If you need to contact us you can by email: support. LG rewrote the rulebook for smart platforms with its webOS, starting the trend for minimal, simplified user interfaces back in 2014. It also needs a connection to a platform to process its submerchants’ transactions. Stripe Terminal is fully compatible with Connect, enabling your platform or marketplace to accept in-person payments. Find the highest rated Payment Facilitation (PayFac) platforms that integrate with BigCommerce pricing, reviews, free demos, trials, and more. 99 (was. Germany. That said, the PayFac is. PayFac vs. To put it simply, a PayFac is a service provider specifically for merchants. Founded by Harvard University and MIT in 2012, edX used to be a nonprofit. Implementation of PayFac model creates a new revenue stream and, thus, increases the bottom-line annual revenue of the company, leading to valuation growth. Integrate Evolve's payment service technology into your software platform and you can start offering your customers a seamless payments journey right away. In 2022, there were 1. Cross-platform data sharing Enjoy full control over fast, smooth, and 100% secure data sharingOur team has over 30 years experience. How to PayFac: What Software Platforms Need to Know. Stripe users can take advantage of prebuilt, optimized UIs or custom-built onboarding flows, making it easy for platforms and marketplaces to get their users up and running quickly. With UniPay Platform you have the options of an affordable white label payment gateway solution, a full on-premise. Public Sector Support. You can contribute with a donation, share this page with friends, or help fun. Museum - Salary - Get a free salary comparison based on job title, skills, experience and education. Best fit with ACH only needs and the potential for enough users to offset large monthly fees. Resources. Our intuitive APIs and developer-friendly guides make integration a breeze, minimizing any business disruptions. 01274 649 893. Stripe and Square are two examples of well-known PayFacs that are incredibly popular with business owners in a wide variety of industries. m. Combine O2O & social commerce platform with on-demand delivery with built-in chatbot and sub-merchant PayFac solutions. Stax’ platform provides businesses and SaaS platforms the ability to manage their payment ecosystem, analyze data, and simplify their customer experience through fully integrated solutions. 2) PayFac model is more robust than MOR model. “In addition, the capabilities that both EpicPay and CMS bring to the business are best-in-class. A PayFac provides their merchants with the entire payments flow from payment processing through settlement, reporting, and billing. We get regular inquiries from SaaS platforms and start ups about becoming a PayFac or Payment Facilitator. 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. More importantly, merchants that use those platforms do not need a direct relationship with a payment gateway or the acquiring bank. They’ll listen to you and guide you in developing the solutions your customers want and need. They’re more than just a payment provider. Compare the best Payment Facilitation (PayFac) platforms in Canada of 2023 for your business. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an acquiring bank. Note: Pattern day traders — as defined by the SEC — must have at least $25,000 in equity in their accounts and be approved for. Find the highest rated Payment Facilitation (PayFac) platforms pricing, reviews, free demos, trials, and more. The rise of telemedicine and virtual healthcare platforms has also seen the integration of. Predict profit confidently with robust reports generated easily from real-time financial information and vast historical data. According to research from J. BigCommerce: Best for boosting sales. A remittance service provider is an individual, business or organisation that accepts instructions from customers to transfer money or property to a recipient. With Payrix Pro, you can experience the growth you deserve without the growing pains. These materials and best practice . Looking for the best payment processing services? Contact us today! We provide the best services for merchants as well as nonprofits. 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. Recurly is a payment processing platform that gives businesses control over their subscription billing and payments. Gross revenues grew. 3 percent and 10 cents (interchange plus pricing plan) Your revenues – (0. IG - Best overall broker, most trusted. If your business falls into one or more of these categories: SaaS companies. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. ISOs often provide a range of services, including equipment sales or leasing—for example, point-of-sale (POS) terminals —transaction processing, and customer service. The world's leading commerce platform, working for you. Payment Processing: BlueSnap is processor agnostic and provides integrations to all types of payment solutions from credit card payments, ACH, SEPA to wires. Explore the Report. Uncomplicate your commerce. Drip: Best for e-commerce. Stripe is the best software platform for running an internet business. A typical promising platform may be best served by a payfac-alternative model. It’s challenging to keep track of fees, who has risk, and how each transaction is settling out. Tackling PayFac: 3 Questions all. Put our half century of payment expertise to work for you. Explore the extensive features of Chargebee - a comprehensive recurring billing and subscription management software. Fully managed payment operations, risk, and. Saxo Bank - Best web-based trading platform. We handle billions of dollars every year for forward-thinking businesses around the world. Becoming a payment facilitator is a change to your operational and support models, has and it pays long-term benefits. View Platform. 3% of this amount at best, it is, again, the gross revenue that. Match to an available therapist who fits your objectives. We understand the details of embedded payments and the options for building a solution that is secure, scalable and compliant. 3,350 Ratings. Remittance service providers are also known as ‘money transfer businesses’. One classic example of a payment facilitator is Square. But of course, there is also cost involved. Software platforms leveraging BlueSnap’s Embedded Payments and Payfac-as-a-Service solutions can build more meaningful revenue streams because of the ability to profit from payments revenue as. Stripe. This diversification enhances its market presence and resilience. Compare the best Payment Facilitation (PayFac) platforms in Asia of 2023 for your business. 9% and 30 cent processing fee. DENVER, October 10, 2023 — Infinicept, a leading provider of embedded payments, and Payment Visor, a payment management consulting firm, today announced a partnership that brings together critical payments expertise with Infinicept’s Payfac -as-Service and embedded payments platform. Merchants enter into an agreement directly with the PayFac, completely separate from the PayFac’s agreement with their payment processing partner. The PayFac model is ideal for online marketplaces because each third-party vendor can be registered under the PayFac’s main payment processing account. Podbean. 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. Becoming a payment facilitator is a change to your operational and support models, has and it pays long-term benefits. Essentially, a payfac is a company that allows its customers to accept electronic payments using their platform. Fortis manages everything for you – underwriting, fraud monitoring, funding, gateway reporting, and chargeback management. 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. Handling payments doesn’t need to be a costly and lengthy exercise. 1. Those are leading a fast-growing elearning. responsible for moving the client’s money. The most used social media platform in the world is Facebook, with 2. Stax Connect is a unique payment ecosystem that allows for unparalleled portfolio growth via technology and payment monetization. Weebly: Best for e-commerce blogging. Essentially, a payfac is a company that allows its customers to accept electronic payments using their platform. Amazon is an online giant in both the e-commerce and digital streaming fields. Choose from our selection of build-your-own fixed work platforms, adjustable-height work platforms, fixed work platforms, and more. Payment facilitators, commonly referred to as PayFacs, are intermediaries who are able to deliver value to the payments industry by a simple match merchants and electronic payment processing services. Please support Choosing the Right PayFac Platform: Key Factors to Consider. Payment processing is inherently risky. Virtual Healthcare Platforms. PayRix claims to be the only full-service payment facilitator platform targeted at marketplaces, SaaS platforms, and PayFacs themselves. Invest in training programs or workshops. 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. 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. Card boxes and sleeves. PayFac-in-a-Box. 01274 649 893. Handpoint is an Embedded Payments Platforms for the Point of Sale, enabling PSPs and SaaS companies to supercharge their growth. When accepting payments online, companies generate. Compare the best Payment Facilitation (PayFac) platforms in China currently available using the table below. RingCentral is well-respected for its business communication technologies, most notably its voice-over-IP (VoIP) solution. Pros and cons of PayFac platforms. We handle partial payments, automatic failed payment retry, and automatic payment recovery. Pillar 2: Transaction monitoring The PayFac protects against possible fraud by monitoring every transaction that is processed through the platform. Turning the card, PayFac continues to generate strong growth, 27% for the quarter, as Greg will discuss, it's been a busy quarter of increasing penetration with existing ISVs, implementing new ISVs and building a strong pipeline, including three significant new opportunities which we are aggressively targeting. The way Terminal creates API objects depends on whether you use direct charges or destination charges. Best Broker for Low Costs: Fidelity Investments. Ally Invest. S. Real-time aggregator for traders, investors and enthusiasts. When PayFac became a buzzword among software platforms and the many businesses trying to sell to them, the meaning of the word started to blur. Online payments. Payrix Payrix is on a mission to be the global leader in embedded payments for vertical software businesses. Payfacs provide a payment gateway, a software that acts as an intermediary between a business’s website and the payment processor. We handle partial payments, automatic failed payment retry, and automatic payment recovery. Additionally, PayFac-as-a-service providers offer increased security measures. These marketplace environments connect businesses directly to customers, like PayPal,. 1. PayFac companies like UniPay Gateway make being a payment facilitator simple by offering total automation services and omnichannel payment technology. 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. That said, there has been controversy over how the store offers such low prices. However, once registered as a PayFac, it can directly collect the fees on its own behalf (not the provider’s). On. Becoming a Payment Aggregator. Fortis also. 07% + $0. In 2022, embedded payments and payfac-as-a-service will grow in popularity as software platforms see the benefits of monetizing payments. Here are the main considerations when deciding between a PayFac and an ISO: Onboarding - the ISO onboarding process is usually slower than the PayFac’s because the former relies on the payment processor, whereas the latter manages the entire process. Additionally, PayFac-as-a-service providers offer increased security measures. Think out of the Square. 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. Platforms and. Linkedin'ers!!! What. That’s a friction that Aberman said he and his co-founder built WePay to overcome: giving those software platforms the best of being a PayFac without requiring them to manage those sensitive. Diversified Service Portfolio: The company operates across multiple key verticals, including digital audio and video content streaming, online payment facilitation (PayFac), digital education content platforms (EdTech), and information technology services. Many large companies you think about -- Amazon, Etsy, or Uber -- could fit either description. The Payment Aggregator can quickly onboard a new merchant (typically a user of the SaaS offering) and they can begin. Patona is hiring a remote Senior Developer - PayFac & PayTo Integration. Etsy. Find the highest rated Payment Facilitation (PayFac) platforms in the. 6. Our white-label PayFac solution has decades of best practice built into it, so you can launch as a PayFac without any additional Tech or IT resources, and without building any software in-house. 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. We currently have over. Get in touch for a free detailed ROI Analysis and Demo. Stax's API is designed to make it easy for ISVs and developers to power their payments. The best PayFacs utilize automated smart. Understanding the Payment Facilitator model. This sounds complicated, but at the most basic level, a payments facilitator is a way of outsourcing part of your business to an intermediary contractor. Although the platform focuses more on video organization for internal organization-wide use, it does have some live streaming features like making interactive videos and recording live streams. Reduced Development Burden. a merchant to a bank, a PayFac owns the full client experience. 1. Jeff Miller Payments! Growth Leader, Coles Data Xdates Insurance 300,000+ high-quality leads annually,R&D Tax Credit Money BackPassionate about Marketing!Green Man Gaming is for frugal PC players who want to buy games on the cheap. Here are nine myths about PayFac platforms that are rooted in that past and in an environment of fear, uncertainty, and doubt. Payment Facilitator Get Started PayFac® solutions, at your service Worldpay from FIS is your advocate for payment facilitator solutions. 2. 4 Ratings. Through educational initiatives, financial institutions can help accountholders protect themselves. Embedded payments with Connect encompasses the entire payment experience from end-to-end, including onboarding. Accept payments online, in person, or through your platform. Stripe The new standard in online payments. A team of global experts delivering the future of commerce. Find the highest rated Payment Facilitation (PayFac) platforms pricing, reviews, free. The first is the traditional PayFac solution. Payrix is the only PayFac® as a service platform built by a payment facilitator, exclusively for software platforms. The failures of Silicon Valley Bank (SVB) in March of 2023 and First Republic in May jolted the banking industry—and consumer confidence. It’s important for any business leader to understand both approaches and what each process entails. Decide when and how your users are paid and move funds with reliability and speed. as more and more platforms and acquirers look to offer PayFac programs, it’s becoming more accessible than ever. 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. Invest in a reliable and scalable payfac platform with essential features such as secure payment processing, API integrations, and reporting capabilities. As is the case with all as-a-service models, PFaaS reduces the barrier to entry for many businesses by delivering a capital-intensive solution as a more affordable pay-as-you-go service. 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. Obtain Payments Institution (PI) or Electronic Money Institution (EMI) license if needed (Europe-specific) Build your platform. The buyer and the seller, buyer and platform, seller and platform. E*TRADE. 01274 649 893. Here’s a quick recap of the 5 best deadlift platforms: Titan Fitness 6FT x 8FT Deadlift Platform. . The most important difference between PayFacs and marketplaces is the number of retailers a customer transacts with through the platform. Technically, a PayFac can be used to set up an ISO, but this is usually reserved for online businesses. Shopify lets you create a robust shopping experience all in one place. Interactive Brokers - Great overall, best for professionals. As the. Stax Connect is a unique payment ecosystem that allows for unparalleled portfolio growth via technology and payment monetization. Physical Cards. We handle partial payments, automatic failed payment retry, and automatic payment recovery. Only One-Third of eCommerce Merchants Know if Fraud Caused a Failed Payment. 5. 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. Subject*. What is a PayFac? RB: A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. Embedded experiences that give you more user adoption and revenue. Move and manage money. Recommendations should be independently evaluated in light of your specific business needs and any applicable laws and regulations. Understanding the Payment Facilitator model. That is, the SaaS, shopping cart, or PayFac platform needs a mechanism to Today the company processes >1 billion transactions and $130bn+ in annual payment volume for prominent customers, including Fiserv, Ordway, Cineplex, Allianz, Levi’s, and Carfax. Start earning payments revenue in less than a week. 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. Very few PayFac as Service providers publish pricing to sub PayFac’s and there is a reason. Exchange in-app messages with your therapist at any time. A marketplace - such as Amazon, eBay or Etsy - provides a platform for multiple. With Fortis’ PayFac solution, software developers and merchants can leverage award-winning APIs and leading payment technology to scale their business. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. Accept payments online, in person, or through your platform. Instead of each individual business needing to set up its own merchant account, a process that can be time-consuming, the payfac effectively “rents out” merchant account functionality under its larger master merchant account. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. OLB is a leading platform delivered on the SaaS model. In addition, members get free access to our best-in-class online fundraising platform which includes Text-to-Donate, Peer-to-Peer, and much more. "The platform is so flexible and layers on top of existing infrastructure if needed. Discover flexible, scalable solutions that fuel your growth and transform the payments experience to delight your customers. Payment Processing: BlueSnap is processor agnostic and provides integrations to all types of payment solutions from credit card payments, ACH, SEPA to wires. Compare the best Payment Facilitation (PayFac) platforms in Germany of 2023 for your business. Intro: Business Solution Upgrading Challenges; Payment System Integration; Migrating from One Processor to Another; Legacy System. All while capturing the lion’s share of the revenue. Compare the best Free Payment Facilitation (PayFac) platforms of 2023 for your business. RingCentral Video is its entry into the video conferencing market, and. Becoming a payment facilitator is a change to your operational and support models, has and it pays long-term benefits. Create better UX through payments with our white labeled, powerful platform. Find the highest rated Payment Facilitation (PayFac) platforms in Asia pricing, reviews, free demos, trials, and more. One platform. Crypto news now. A relationship with an acquirer will provide much of what a Payfac needs to operate. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. 99 (was $39. A payfac is a platform that intermediates payments between consumers, payment operators (card operators, banks, PSPs, etc. History of payfacs. By bringing payments in-house, platforms can create new revenue streams from transaction fees, significantly boosting revenue per customer. Our side-by-side tests placed the greatest importance on low. $35/user/month. Choose a sponsoring acquirer and register with them as a Payfac. 2 could very well involve companies hiring his firm to serve as PayFac. Integrate Evolve's payment service technology into. 1. Intro: Business Solution Upgrading Challenges; Payment System Integration; Migrating from One Processor to Another; Legacy System ReplacementOnline Payment System Software and Global Payment Processor - UniPay Gateway. A single platform to power your restaurant. Shift4Shop: Best free e-commerce platform. E-CommerceThe white-label payment facilitator model ( PayFac in a box) is a try-it-before-buy-it solution for prospective PayFacs. 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. In stock and ready to ship. 9% and 30 cents the potential margin is about 1% and 24 cents. Make and take payments. Strategies. Unlike traditional PayFacs, no capital investment is required. Traditional payfac solutions were popularized in the late 1990s as a way to help small- and medium-sized businesses accept online payments more easily. With UniPay Platform you have the options of an affordable white label payment gateway solution, a full on-premise. Find the top Payment Facilitation (PayFac) platforms for Lightspeed eCommerce in 2023 for your company. Find a job. 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. See Platform. History of payfacs.