How to PayFac: What Software Platforms Need to Know

Decision Guide: How to PayFac

The ecosystem of payment facilitators — PayFacs — is complex, and “How to PayFac,” a PYMNTS Intelligence and Visa collaboration, demystifies this key system that gives small to midsized merchants new options to participate in the digital economy.

Inside the September Decision Guide
  • WHY BE A PAYFAC?: PayFacs have carved out a desirable market for themselves — one mutually beneficial to the acquirers that once viewed them as a competitive threat.
  • WHAT IT TAKES: Being a PayFac means having risk management as a core competency; PayFacs hold or share responsibility for many details, including merchant onboarding.
  • ACQUIRERS REQUIRED: A PayFac’s acquirer bank is ultimately responsible for compliance with the various payments and money transmission regulations, managing merchant and transaction risk, and more.

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