Payment facilitation, or PayFac allows a SaaS company to act as a master merchant for its client base. The SaaS provider onboards clients via a non-intrusive application process -- making it simple for the user base to quickly begin accepting customer..
Recently, PYMNTS, a leading payments and commerce industry news site published a piece on PayFacs based on an interview with WePay co-founder Richard Aberman.
Hyperbole aside, we want to examine Mr. Aberman’s view and provide some balance to the..
An interview with MyEvent.com. Early adopters of the PayFac business model MyEvent.com has successfully implemented payment facilitation and used it to grow their business and acquire new clients.
Payment facilitation, or operating as a “PayFac” allows a SaaS company to act as a master merchant for its client base. The SaaS provider onboards clients via a non-intrusive application process -- making it simple for the user base to quickly begin..
The decision to become a Payment Facilitator(Payfac) can be very confusing for a SaaS application provider.
For the SaaS provider, potential advantages in becoming a Payment Facilitator (aka Payment Aggregation) are compelling: payment facilitation drives ease of client onboarding and unlocks a new stream of revenue generation.
Payment facilitation or payment aggregation allows one entity, the master merchant, to process or facilitate payments for a base of sub-merchants. For SaaS providers these are typically application end users or customers.
As the idea of Payment Facilitation gains traction, more and more SaaS companies are exploring becoming a PayFac. Conceptually, it is an attractive feature to introduce: fast, easy, onboarding and new means of revenue generation. In fact, independent..
Steps to becoming a Payment Facilitator are outlined below.
Payment facilitation is the process by which one entity, a master merchant, processes or facilitates payments on behalf of a base of sub merchants.
ACH payments and disbursements aren’t new. ACH payments have been around since 1974, and by the end of 2016, the total volume of ACH processing exceeded $40 trillion. If you have made monthly AutoPay payments for your mortgage, paid a credit card bill..
If you’ve considered becoming a Payment Facilitator (PayFac) for your SaaS customer base, you’re familiar with the term “KYC,” or Know Your Customer. As the payment processing industry continues its trend of explosive growth, however, KYC might be..
The number of SaaS companies looking into payment processing on behalf of their customers is growing rapidly. More and more companies are looking at Payment Aggregation | Payment Facilitation as an attractive option to provide a service that offers..
The decision to become a Payment Aggregator or Payment Facilitator (Payfac) has massive implications for a SaaS application provider.
If you’re a SaaS provider considering becoming a credit card Payment Aggregator, or Payment Facilitator (Payfac) as a way to boost your bottom line by providing additional services to users of your application, you’re not alone.
Payment collection is generally considered the most important business task and the most dreaded. A recurring billing solution is a fantastic tool to ease the burdens associated with payment collection by making your SaaS application user’s business..
For the SaaS provider, the potential advantages of becoming a Payment Aggregator can be compelling. The Payment Aggregator model can seem very attractive, both for ease of onboarding and potential revenue generation.
I have a good friend that makes me laugh a lot. When we talk about someone that seems to only take and gives little value, he says, “Yeah, they name streets after that guy — one way.”
Payment Aggregation, or Payment Facilitation (Payfac) offers SaaS companies the ability to provide another layer of service to their users by acting as a Master Merchant for ACH payment processing. For tech-savvy SaaS platforms that have the resources..
If you were to make a list of the top 10 SaaS providers in the market today and in turn list what makes them so successful, having business partnerships would certainly be a common trait among them.