00 Payment processor/ merchant acquirer Receives: $98. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Discover Adyen issuing. Generate your own physical or virtual payment cards to send funds instantly and manage spending. They decided to add a $285 annual fee to their merchants starting in. This is. 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. A 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. The differences are subtle, but important. 11 + $ 0. A Payment Facilitator [Payfac] is essentially a Master Merchant that processes credit and debit card transactions for sub-merchants within their payment. It is significantly less expensive compared to using a regular PayFac model. NMI’s gateway, merchant relationship management and embedded payments solutions provide PayFacs, ISOs and software developers with everything they need to offer elevated merchant services. This gateway is designed to be PCI compliant, taking steps to protect credit card information by complying with industry security standards. However, businesses of all sizes can gain profit from UniPay PayFac Model, as it provides a mere and efficient way to accept payments. E-CommerceRenew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Stripe benefits vs merchant accounts. Find the Right Online Payment Gateway. The rise of PayFac for marketplaces seeking to provide payment services 💡. What SaaS & E-commerce Companies Need to Know About Payment Facilitator Regulations, and what key regulations. An ISO works as the Agent of the PSP. the supporting material required for PIs , EMIs or RAISPs (whichever applies to you) everything listed below. You own the payment experience and are responsible for building out your sub-merchant’s experience. Stripe, a tech-enabled evolution on the traditional payfac model, offers a complete solution that combines the functionality of a merchant account and a gateway all in one. Payfac as a Service is the newest entrant on the Payfac scene. becoming a payfac. WorldPay. This is a clear indicator that fraud monitoring should be a priority in 2022 and beyond, and why it’s vital to work with a PayFac like. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting, and customer support. The MoR is also the name that appears on the consumer’s credit card statement. 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. This means that businesses only need Stripe to accept payments and deposit funds into their business bank account. or by phone: Australia - 1300 721 163. Payment facilitator’s role is to handle merchant lifecycle-related functions (from underwriting and onboarding to funding and chargeback handling) instead of the acquirer. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting and customer support. NMI By signing up with NMI as a reseller, you can offer your merchants complete payment solutions that enable them to begin selling right away; Authorize. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. 9% + 30¢. Bank/ credit or debit company. The first thing to do is register. 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. Payments. Typically a payfac offers a broader suite of services compared to a payment aggregator. Every payment gateway, processor, or bank uses its own payment system (often a unique one). At TSYS, we’re building the future of payments. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. A payment gateway is a software program that sits between the merchant and customer, often supplied and hosted by a third-party provider. Demystifying payment provider terms: Partnering with a PayFac vs PayFac-as-a-service You might have heard the terms PayFac partnership, managed payment facilitation, managed payment solution, outsourcing to a PayFac, PayFac-as-a-service (PFaaS), PayFac-in-a-box, or PayFac-as-a-whatever—but when it comes down to it, all of these terms mean. ”. The white-label payment facilitator model ( PayFac in a box) is a try-it-before-buy-it solution for prospective PayFacs. When you connect with BlueSnap’s Global Payment Orchestration Platform, we provide you with the merchant account. Manage Your Payments. Typically a payfac offers a broader suite of services compared to a payment aggregator. In this model, the ISV would need to acquire sponsorships from processors or banks, build gateway integrations, develop payment processes, hire payment specialists, maintain PCI DSS standards, and much more. What is a payment facilitator, and what is payfac-as-a-service? Here’s what businesses need to know about how payfac solutions work. The concept is continuing to evolve According to analysis from GlobalData, the worldwide market for digital payments will reach nearly $2,500 trillion in value in 2023, expanding at a compound annual growth rate (CAGR) of 14. 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. Firstly, a payment aggregator is a financial organization that offers. A PayFac is a processing service provider for ecommerce merchants. In total, they sent 19 marketing & logistics emails in 2023, leading to nearly 10,000 views of their RunSignup website. Onboarding processRenew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Under the PayFac model, each client is assigned a sub-merchant ID. He drives the strategic direction of the company and supports. What is a Managed PayFac? Businesses that are Payment Facilitators, or “Payfacs,” are in essence Master Merchants that process debit and credit card transactions for the sub-merchants within their payment application. Typically a payfac offers a broader suite of services compared to a payment aggregator. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Global expansion. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by creating a sub-merchant platform. Why PayFac model increases the company’s valuation in the eyes of investors. facilitator is that the latter gives every merchant its own merchant ID within its system. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Stripe benefits vs merchant accounts. When you want to accept payments online, you will need a merchant account from a Payfac. Sub-merchants operating under a PayFac do not have their own MIDs, and all. This means businesses only need Stripe to accept payments and deposit funds into their business bank account. A payment aggregator is a 3rd-party payment service provider (PSP) that allows merchants to process payments without having a merchant account. The ideal business for UniPay Gateway PayFac program has a large number of clients, as this will allow the business to generate a significant amount of revenue through the fees associated with each transaction. Gain a higher return on your investment with experts that guide a more productive payments program. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. €0. It also means that payment risk is moved from individual merchants to the PayFac, as they own the master merchant account. Global expansion. ACH Direct Debit. 🌐 Simplifying Payments: PayFac vs. One of the reasons for this phenomenon is that many companies (including former independent sales organizations (ISO)) find it more profitable to combine the functions of an online gateway provider and a merchant service provider (MSP). Benefit from fault-tolerant, scalable services plus rapid, safe, data-driven product enhancements on a. 2. The difference is that a payment processor can provide a single gateway for multiple payment methods. These plans are on top of what you'll pay for Stax Pay. In response to the advance of payment facilitation services, many companies started offering special programs for payment facilitators (UniPay Gateway technology by United Thinkers with its PayFac. Especially valuable for platforms and marketplaces looking to payout users faster in a preferred currency. merchant accounts. What is a payment facilitator? A payment facilitator, also known as a “payfac” or payment aggregator, is a payment model that has grown tremendously over the past few years. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Payment gateway Payfacs provide a payment gateway, a software that acts as an intermediary between a business’s website and the payment processor. Payfac and payfac-as-a-service are related but distinct concepts. Onboarding processBefore offering customers payment methods from popular card networks (Visa, Mastercard, etc. Online Payments. 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. Besides that, a PayFac also takes an active part in the merchant lifecycle. using your provider’s built-in tokenization and gateway solution can greatly reduce your Payment Card Industry (PCI) scope. A major difference between PayFacs and ISOs is how funding is handled. When accepting payments online, companies generate payments from their customer’s debit and credit cards. About 50 thousand years ago, several humanities co-existed on our planet. The arrangement made life easier for merchants, acquirers, and PayFacs alike. 2. Additionally, the overall integration was a seamless process, which made it easier for us to continue focusing on our product and customers. North America’s leading healthcare organizations, revenue cycle management and accounts receivables management companies trust RevSpring to maximize their financial results. a merchant to a bank, a PayFac owns the full client experience. Payfac-as-a-service vs. Your provider should be able to recommend realistic metrics and targets. This means businesses only need Stripe to accept payments and deposit funds into their business bank account. That is, the gateway, capable of accommodating all PayFac-specific features it requires. 25 per transaction. Independent sales organizations (ISOs) are a more traditional payment processor. It makes you analyze all gateway features. What ISOs Do. Visa Checkout + PayPal. To become a Mastercard merchant, simply contact an acquirer for a merchant account application. Payment Facilitation offers the SaaS application the ability to control the end customer's payment experience. Freedom to grow on your own terms. Choose your gateway, processor: By facilitating open, interoperable service models, PayFac 2. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. A Payment Facilitator, or PayFac, is a sub-merchant account used by merchant service providers to provide payment processing services to their own clients, known as sub-merchants. The PayFac does not have to underwrite all merchants upfront — they are instead, underwriting the merchants essentially as they continue to process transactions for them on an ongoing basis. 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. Online Payment System Software and Global Payment Processor - UniPay Gateway. In the current downturn, said Mielke, the PayFac or ISV that is diversified will be better positioned to weather the storm. Some ISOs also take an active role in facilitating payments. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting, and customer support. This means that a SaaS platform can accept payments on behalf of its users. A best-in-class payment solution. Wide range of functions. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. 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. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. PayFac vs. Small/Medium. A payment facilitator (or payfac) is the owner of a master merchant identification number who registers merchants as sub-merchants and enables their payment acceptance. Classical payment aggregator model is more suitable when the merchant in question is either an. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Sub Menu Item 5 of 8, Mobile Payments. We could go and build a payment gateway, but there would be a. An ISO is a third-party company that refers merchants to acquiring banks or payment service providers. 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. Payment facilitators conduct an oversight role once they have approved a sub merchant. Under the PayFac model, a merchant is set up under the PayFac’s master account, but they are onboarded with their own unique MID. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. As merchant’s processing amounts grow, it might face the legally imposed. Braintree became a payfac. To manage payments for its submerchants, a Payfac needs all of these functions. 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. However, becoming a payfac requires a significant amount of up-front and ongoing work, like opening a merchant account, obtaining a merchant ID (MID), and getting your PCI DSS certification. Integrate in days, not weeks. Relationships of modern humans with other human. When choosing between a Payment Facilitator (Payfac) and a Merchant of Record (MoR) for your business, several key factors should be carefully considered: 1. As a PayFac, Segpay handles the sub-merchant onboarding and provides a fully managed payment processing solution. Global expansion. Some say, a VAR is an evolutionary stage between a traditional ISO and a SaaS provider. Corporate website of GMO Payment Gateway,Inc. A Payment Facilitator, or PayFac, is a sub-merchant account used by merchant service providers to provide payment processing services to their own clients, known as sub-merchants. 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. 20 (Processing fee: $0. Within the payment industry, VAR model emerged as the product of ISO evolution. Timely settlements and simplified fee payments. Are you a business looking to expand your payment acceptance options? Have you heard of payment facilitators, also known as PayFacs? These modern payment solutions offer more flexible and cost-effective options. Payfac-as-a-service vs. Firstly, it has a very quick and easy onboarding process that requires just an. When you enter this partnership, you’ll be building out systems. Those sub-merchants then no longer. +2. Nium moves money, manages foreign exchange, and mitigates fraud so your business can send and receive funds in real-time. The main difference between these two technologies, the Payment Facilitator and the Payment Processor, is the difference in the organization of merchant accounts. It’s used to provide payment processing services to their own merchant clients. ISOs mostly resell merchant accounts, issued by multiple acquiring banks. While Tilled’s PayFac offerings will bring a lucrative new revenue stream to your business through payment monetization, we do more than write you a check each month and wish you luck with this new aspect of your business. Just to clarify the PayFac vs. Payment method Payment method fee. Priding themselves on being the easiest payfac on the internet, famously starting. Generally, ISOs are better suited to larger businesses with high transaction volumes. The B2B FinTech company, WALBING, has obtained a Payment Service License from the German Federal Financial Supervisory Authority. A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. 01274 649 893. Whether you are building a mobile app, a web portal, or a point-of-sale system, you can find the documentation, code samples and support you need to get started. Each of these sub IDs is registered under the PayFac’s master merchant account. S. 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. The core of their business is selling merchants payment services on behalf of payment processors. Fiserv offers a full range of efficient in-house. They offer payments to their merchant customers, known as submerchants, through their own links with payment processors. A merchant can simply partner with a large provider and get all the gateway features it needs within a standardized offering. A payment processoris a company that handles card transactions for a merchant, acting. Fortis also. The Payfac Solution Provider (PSP) handles all of the underwritings, setting up of accounts, development of integrations with processors, connections with gateway partners (if applicable), the. Send payouts to 190+ markets with real-time payments infrastructure for on-demand business. Prepare your application. The merchant obtains a gateway system, its supplementary APIs and the various forms of payment as a bundle and only has to sign one contract. By Ellen Cibula Updated on April 16, 2023. PayFac – Square or Paypal;. 5%. ISOs never directly touch a merchant’s money as the money will flow directly from the payment processor to the merchant’s merchant. Payment facilitation – PayFac – has helped many business ease the transition to a world dominated by digital payments. Gateway Payment Service Providers Explained. Managed PayFac or Managed Payment Facilitation – The 2023 Guide. RevSpring leads the market in financial communications and payment solutions that inspire action—from the front-office to the back office to the collections office. Instead of each individual business. Finally, web. Acquiring banks willingly delegated them to payment facilitators in exchange for part of liabilities and residual revenues. 3 Rounds of Lottery Drawings. Typically a payfac offers a broader suite of services compared to a payment aggregator. 5%. PayFac vs ISO: 5 significant reasons why PayFac model prevails. A payment gateway on the other hand is technology that verifies payments between merchants or vendors. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Onboarding process 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. A gateway may have standalone software which you connect to your processor(s). We combine flexible payment processing, an industry-leading gateway and a vast range of value-added services to. ,the leading company in the payment processing service industry (3769: Tokyo Stock Exchange Prime Market),releases. or scroll to see more. 1. A closer look at the economics from each $1 of payment volume. Payrix enables vertical SaaS companies to: Unlock greater revenue by monetizing your payments; Create better UX through payments with our white labeled, powerful platformPayment gateway. But for this purpose, it needs to build a strong relationship with an acquirer that will underwrite it as a PayFac. At the very minimum, a new PayFac. Simultaneously, Stripe also fits the broad. ISOs mostly. for manually entered cards. And this is, probably, the main difference between an ISV and a PayFac. In this article we are going to explain why payment facilitator model is becoming so popular (attracting more and more entities) while ISO model is gradually dying out, vacating the space for new payment facilitators. It offers a secure pathway that requests and manages payment in order to take money from the customer and pass it into the merchant’s bank account. White-label payfac services offer scalability to match the growth and expansion of your business. Principal vs. the right payments technology partner. Payment Facilitation as a Service, also known as PayFac as a Service or PFaaS, allows software platforms and SaaS providers the ability to act as a merchant account for their end users. Issues with connection can be caused by DNS problems, server failure, Firewall rules blocking specific port, or some other. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. In other words, processors handle the technical side of the merchant services, including movement of funds. Stripe, a tech-enabled evolution on the traditional payfac model, offers a complete solution that combines the functionality of a merchant account and a gateway all in one. A SaaS or PayFac, usually, needs to dedicate much more considerable effort to integration and certification. While an ISO product will sometimes take weeks to approve a merchant due to the more stringent and quite often paper-based application process, PayFacs are able to. The acquirer makes the payment facilitator’s check and dictates a variety of requirements. “One of the largest challenges a new PayFac will face is meeting the rigorous demands of its sponsorship bank,” says CJ Schneller, Vice President of Enterprise Risk at MerchantE. To ensure the correct money flow, the payment. A payment gateway and merchant account often cost between $750 to $1,200 in set-up expenses, $0. The rate. Gateway 💳🛍️ Let's go diving into the payment realm 💡 You want smooth checkouts 🤔, but the payment landscape holds more than meets the eye. Visa, Mastercard) around 2011 as a way for aggregators to provide more transparency into who their sub-merchants were. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. PayFac vs ISO is an illustrative example of natural selection and adaptation in the fintech world. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Optimize your finances and increase automation with our banking infrastructure. A PayFac will smooth the path. Our payment-specific solutions allow businesses of all sizes to. This solution includes hosted payment pages; one-time, subscription, and one-click billing solutions; risk management; affiliate tools, and end-user customer support. Traditional payment facilitator (payfac) model of embedded payments. Complete ownership and control of your payments program. The PayFac would also need to hire a FTE to take exceptions and review these exceptions for risk. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. 2. If you need to contact us you can by email: support. More importantly, merchants that use those platforms do not need a direct relationship with a payment gateway or the acquiring bank. Public Sector Support. GETTRX’s Zero and Flat Rate packages offer transparent billing, competitive rates, and industry-leading customer service, making them ideal choices for businesses seeking a seamless payment experience. Clients or sub-merchants skip the traditional merchant account application process, thus enabling. Seamless graduation to a full payment facilitator. A Payfac provides PSP merchant accounts. Meanwhile, PayPal and Square collectively generated revenues of $22 billion. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Sub Menu Item 4 of 8, Payment Gateway. The TPA categories are listed in the table below. As small business grows, MOR model might become too restraining, while payment facilitators provide robust APIs, which sometimes allow merchants to customize each function. This means businesses only need Stripe to accept payments and deposit funds into their business bank account. It also means that payment risk is moved from individual merchants to the PayFac, as they own the master merchant account. The first is the traditional PayFac solution. This means that businesses only need Stripe to accept payments and deposit funds into their business bank account. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. As a result of the first. Here are the best crypto payment gateway providers, including Coinbase Commerce, BitPay, and CoinGate. payment processor question, in case anyone is wondering. The former, conversely only uses its own merchant ID to. The price is the same for all cards and digital wallets. Indeed, some prefer to focus on online payment gateway fees comparison. The bank receives data and money from the card networks and passes them on to PayFac. Let us take a quick look at them. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting, and customer support. These include SaaS providers, investment firms, franchise owners, online marketplaces, and others. Stripe, which is a tech-enabled evolution on the traditional payfac model, is a complete solution that combines the functionality of a merchant account and a gateway in one. Payment. A Payfac, or payment facilitator, is essentially a third-party payment system that allows businesses and organizations to receive and process online and in-store payments. Cons. What is a PayFac? Benefits & Reasons Why Businesses Need One in 2023. Payfac and payfac-as-a-service are related but distinct concepts. For some ISOs and ISVs, a PayFac is the best path forward, but for others owning the payments process, end-to-end is a long way. Simplify funding, collection, conversion, and disbursements to drive borderless. It needs to obtain a merchant account, and it must be sponsored into the card networks by a bank. 1) A PayFac always acts on sub-merchant’s (retailer’s) behalf, while an MOR might be the actual retailer. Merchant account/ business bank. Stripe benefits vs merchant accounts. As your transaction volume increases, the payfac solution scales accordingly, providing consistent, reliable performance. They allow future payment facilitator companies to make the transition process smooth and seamless. Stripe. The terms aren’t quite directly comparable or opposable. This can include card payments, direct debit payments, and online payments. PG vs PSP vs ISO vs PayFac vs Payment Aggregator Payment Gateway a payment gateway means just a technological platform, while a payment aggregator. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. Basically, a payment gateway is simply an online POS terminal. With a. These companies include owners of SaaS platforms, franchisors, ISO, marketplaces, and venture capital firms. Some more important things to consider are:Merchant Account. If you want to become a payment. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. Stripe benefits vs merchant accounts. Contact us. Aggregate processing means the funds from transactions are paid out to the PayFac first, who then distribute them to. If you are an existing Bambora customer who needs assistance there are our support guides that can be found here. In the ever-evolving landscape of the payment processing industry, businesses grapple with challenges that often feel like uncharted territory. Companies like NMI and Spreedly are. becoming a payfac. So, what. Thanks to its flexibility and profitability, PayFac model seems to perfectly adjust to the present-day market requirements. Cards and wallets. Standard support line. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. A payment facilitator, commonly known as a payfac, occupies one of the central roles within the payment processing ecosystem, yet it causes significant confusion. For example, by shifting from the ISO model to become a payfac, Lightspeed expects to see a 2. With companies like Stripe, Square and PayPal pioneering the payment facilitator or “PayFac” model, the era of Integrated Payments 2. PayFacs provide a similar service to standard merchant accounts, but with a few important differences. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. That said, the PayFac is. merchant accounts. A payment facilitator, also known as a PayFac, is a sub-merchant account for a merchant service provider. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Processors will act as a gateway setting their clients up with an individual merchant account while the merchant will still have a direct relationship with the acquiring bank. One of the key differences between payment aggregators and payment facilitators is the size of sub-merchants they are servicing. This model is ideal for software providers looking to. One classic example of a payment facilitator is Square. The payment facilitators reach out to your business and help integrate a seamless payment gateway network technology. 6th April 2023 – Taunton, UK: 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. In order to provide a plausible explanation, we need to understand the evolution of the merchant services industry. All businesses looking to sell products online need to open a merchant account to accept card payments. With Stripe's payfac solution, unlock SaaS revenue, turn payments into a profit center, and offer new financial services through your software platform. Stripe, a tech-enabled evolution on the traditional payfac model, offers a complete solution that combines the functionality of a merchant account and a gateway all in one. A payment facilitator, also known as a PayFac, is a sub-merchant account for a merchant service provider. PayFacs are often more suitable for SMEs seeking a quick and straightforward setup. If you are attempting to become a fully registered PayFac yourself, or are considering various PayFac-in-a-Box options,. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. It then needs to integrate payment gateways to enable online. net is owned by Visa. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. The key difference between a payment aggregator vs. Onboarding processAccess Worldpay is a simple, fast, modern and secure integration to the most advanced payment gateway.