A payment facilitator, or PayFac, is a payment service provider (PSP) that enables merchants to accept and process electronic payments via sub merchant accounts. They open merchant accounts with a merchant acquirer and onboard businesses as sub merchants to facilitate online and POS transactions. Us...
A payment facilitator is an indispensable part of any modern business. Merchants can benefit from these payment processing services in several distinct ways. Here are some of the greatest advantages of using a payment facilitator. Multiple payment methods A PayFac is one of the fastest, most effici...
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 term is commonly used interchangeably with payfac, they are different ...
What is RTGS Transfer? RTGS stands for Real-Time Gross Settlement, an electronic funds transfer system in India that facilitates immediate settlement of high-value transactions (typically above ₹2 lakhs) between banks. Each transaction is settled individually and in real-time, ensuring secure and...
Because Checkout.com is a full end-to-end payments solution, it includes the functionality of a merchant account, acquirer and payment gateway all in one. This is backed by a wide range of other benefits to optimize payments. With Checkout.com as your payments provider, you have an all-...
Coinbase Commerce is an enterprise digital payment service offered by cryptocurrency exchange and wallet service Coinbase. The service allows you to accept payments inBitcoin,Bitcoin Cash, DAI,Ethereum, Dogecoin, USD Coin,Litecoin, Tether USD, ApeCoin, and Shiba Inu. When your customers make a...
BPAYis an electronic bill payment system in Australia. It allows individuals and businesses to make payments through a financial institution's online, mobile or telephone banking system to organisations registered as BPAY billers. It was established to provide a centralised bill payment service that li...
A finder's fee (also known as "referral income" or "referral fee") is a payment made to an intermediary in, or the facilitator of, a transaction. The finder's fee is rewarded because the intermediary discovered the deal and brought it to the attention of interested parties. Or, the int...
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... ...
What are the benefits of working with a payment facilitator? There are extensive benefits associated with payment facilitators. Firstly, the onboarding/sign-up process is far quicker than you’d experience with a payment processor. This is because payment facilitators can approve an account within ...