Payment aggregator vs payment processor What is a payment aggregator? A payment aggregator, also often referred to as apayment facilitator (payfac)orpayment service provider (PSP), is a financial technology company that simplifies the process of accepting electronic payments for businesses. While the ...
Payment processor vs payment facilitator: How they’re different and how to choose one Payment facilitator vs payment aggregator: How they’re different and how to choose one Ready to get started? Create an account and start accepting payments – no contracts or banking details required. Or,...
Payment facilitator vs. payment gateway A payment gateway is mainly used to communicate between a merchant's online marketplace and the payment processor. In other words, the payment gateway isn't actually performing the transaction in the traditional sense but only transmitting the sales data to ...
Payment processor.The payment processor handles the processing of all payments that go through the payment facilitator. Often times, the PayFac assumes the role of a payment processor, while in other cases it serves as a third-party. After receiving authorization, the transaction is approved by th...
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The sponsor is responsible for combining the functions of the processor and the acquirer into one holy union. The Sub-merchants Finally, you have your sub-merchants which are the payment facilitator’s customers. Transactions are routed via a merchant account owned by PayFac. ...
Understanding the Basics of PayFac What is a Payment Facilitator (PayFac)? A Payment Facilitator, or PayFac, is a company that helps businesses accept payments. They do this by letting multiple businesses use a single master merchant account. This makes it easier for... ...
Understanding the Basics of PayFac What is a Payment Facilitator (PayFac)? A Payment Facilitator, or PayFac, is a company that helps businesses accept payments. They do this by letting multiple businesses use a single master merchant account. This makes it easier for... ...
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