Businesses that are Payment Facilitators [Payfacs] are in essence Master Merchants that process credit and debit card transactions for their sub-merchants within their payment application.
We get frequent inquiries from SaaS platforms and start ups about becoming a PayFac or Payment Facilitator.
So you want to be a PayFac? The 1 question you must answer
SaaS platforms and Software vendors have a unique opportunity. Whether you already offer some type of payment collectionoption or have an application that has the potential to leverage payments there has never been a better time to..
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..
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.
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..