It offers a system capable of processing payments, providing multiple means for completing a transaction, such as credit cards, debit, e-wallets, instant transfers, bank transfers, and cash in one. NMI | 28,701 (na) tagasubaybay sa LinkedIn. “The PayFac. Their primary service is payment processing – the ability to accept. A payfac is a type of payment aggregator, but it typically provides a more comprehensive suite of services. PayFac clients want a fast and easy experience, from the moment they contact a PayFac for services, to the onboarding process, to the compliance checks after they have been onboarded. 6638. And with tools like the Dojo app, you can measure and manage your card payments from the palm of your hand. Payment Facilitation-as-a-Service. As per the words of NMI’s CEO, Roy Banks, in an interview with PYMNTS. If there’s a chargeback, it. 3 Ratings. You own the payment experience and are responsible for building out your sub-merchant’s experience. Naval Combat. What is a payment facilitator? A payment facilitator (also known as PayFac) holds a master merchant account and can help provide sub-merchant accounts to sellers. A payment facilitator (payfac) is a service provider for businesses that simplifies the merchant-account enrollment process. Much like the great Oklahoma land rush of 1889, many acquirers are quietly staking their claim to new opportunities as processors increase their willingness to underwrite PayFacs. September 28, 2023 - October 6, 2023. $35/user/month. Grow your revenue by offering more value to your merchants using NMI’s full commerce enablement platform. It is a 100% native app on Salesforce which uses the world-class secure API from Stripe for payment processing. Stay informed with the latest payment processing news and press. See Additional Legal Entities. Braintree became a payfac. NMI 26,594 followers 3d Report this post. All from a single payment gateway platform. There isn’t really a limit to how many independent agents an ISO or PayFac can bring on to sell credit card processing services, because compensation is almost entirely commission-based. 2022Payments 101: What is a Wholesale ISO? September 2, 2021. In 2019, TSYS was merged into Global Payments Inc. Choosing the right payment processor partner is critical to growing your business’ revenue. Exact Payments is an expert in embedded payment solutions, enabling SaaS businesses to monetize payments through its turnkey PayFac-as-a-Service solution. Varanium Cloud Limited provides cutting-edge digital, technology & internet. In between, there are overhead costs associated with moving those funds around. In other words, processors handle the technical side of the merchant services, including movement of funds. 2. Stripe Connect is the fastest and easiest way to integrate payments into your platform or marketplace. Nazarene Compassionate Ministries, Inc. NMI Lisa Puchalski, 847-352-4850 x151 Director of Marketing marketing@nmi. Protect your sellers from fraud, and increased costs – with the ACME fraud shield. + 1. 8. A PayFac sets up and maintains its own relationship with all entities in the payment process. 1 billion for 2021. 916. Heartland Employee Self Service Login“As a PayFac built for enterprise health systems from the ground up, Patientco greatly simplifies implementation and ownership, offering Health Systems greater flexibility to respond to their. IRIS CRM provides ISOs with the tools they need to automate and streamline their most common (and most time consuming) daily workflows. What’s the difference between PayFast, PayPal, Paytm, and Solid Payments? Compare PayFast vs. Media. ETA is where the payments technology world does business, gets educated, engages in policy advocacy, and invents the future of commerce. But to banks and merchants it means something very different. A payfac is a platform that intermediates payments between consumers, payment operators (card operators, banks, PSPs, etc. 5% + 15 cents when a seller keys in the transaction in Dashboard or uses Card on File. Usio, Inc. With a. Step 2: Segment your customers. Fast, customizable portals, customer onboarding, and. This article is part of Bain's report on Buy Now, Pay Later in the UK. Fourth quarter GAAP Diluted EPS was $ (29. Conference Call Vantiv and Mercury will host a conference call to provide additional details, today at 5:00 PM EDT. Leap Payments is a leading payments company serving major brands like Best Western, H&R Block, PetSmart and others. IRIS CRM is the world’s leading customer resource management platform designed specifically for the payments industry and independent sales organizations like yours. Pillar 2: Transaction monitoring The PayFac protects against possible fraud by monitoring every transaction that is processed through the platform. Since 1990 the Institute has tracked sustainability, health and wellness on a. Provide Payment Facilitator Technology & Speed up Time to Market. ISVs solve business problems for the merchants they serve by developing software for streamlining processes and extending customer capabilities. K. Become a PayFac with little or no IT resources. The program, sponsored by Discover Global Network, provides ETA YPP scholars with mentors from leading payments companies, complimentary access to ETA industry events, and. The PayFac market is still fragmented and marked by various providers. The Company's cable cloud services offer a white-labelled cloud-based solution for cable. The amount earned on any given transaction is minuscule, but even the tiniest residuals have the potential to add up fast. ISOs and PFs may occupy similar space, but their fundamental differences set them apart from each other. Incorporated in 2017, Varanium Cloud Limited, previously known as Streamcast Cloud, is a technology company focused on providing services surrounding digital audio, video, and financial blockchain (for PayFac) based streaming services. The payfac model is a framework that allows merchant-facing companies to. Find the top Payment Facilitation (PayFac) platforms in 2023 for your company. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Wait a moment and try again. To accept online card payments, you need to work with each of these players (either via a single payment service provider or by building your own integrations). 3% + 30 cents when the buyer keys in the transaction online. Global expansion. Most payments providers that fill. Then the PayFac needs to build a number of other tools or go through compliance processes, like becoming PCI Level 2 certified, but as soon as they. Nuvei vs. This ensures a more seamless payment experience for customers and greater. Funds are gathered under an umbrella account “for the benefit of” end-users. The ISO acts as an intermediary between the merchant and the payment processor, taking care of merchant recruitment, sales, and. Contact BlueSnap and let us know how we can use our global payments expertise, drive. NMI has also launched, FACe, facilitation enablement. 8%, but FedNow Unaffected. Stripe's payfac solutions can empower businesses to accept payments online without a merchant account or merchant identification number (MID) of their own. The payment facilitator is a service provider for merchants. For our enterprise merchants, we introduced several new Carat capabilities last PayFac Service and Support: Growing a large, stable portfolio of residuals requires constantly bringing in new merchants, but it also requires keeping the top producing merchants happy. Exact Payments is an expert in embedded payment solutions, enabling SaaS businesses to monetize payments through its turnkey PayFac-as-a-Service solution. Their installation is virtually automatic. You own the payment experience and are responsible for building out your sub-merchant’s experience. ACME handles the liabilities associated with compliance for payments and seller underwriting. net; Merchant of Record Exact Payments is an expert in embedded payment solutions, enabling SaaS businesses to monetize payments through its turnkey PayFac-as-a-Service solution. If you are a registered PayFac or in the process of becoming one, FACe will provide you with the turn-key interface to accelerate your go to. Find the highest rated Payment Facilitation (PayFac) platforms in Africa pricing, reviews, free demos, trials, and more. Our mobile, fixed and unattended options are all certified with leading processors. Paya ACH and Agreement Express, an NMI company, have teamed up to deliver a better merchant onboarding experience to partners. Compare the best Payment Facilitation (PayFac) platforms in India of 2023 for your business. Varanium Cloud is an NSE SME IPO to raise ₹36. First, the card networks did increase interchange. Businesses that process more than $80,000 in sales per month may qualify for discounted rates. We enable payments for over 3,200 partners and over 260,000 merchants around the world. 752. Optimized across years of experience onboarding and verifying millions of individuals and businesses, our payfac solution includes real-time KYC checks, sanctions screening, secure card data tokenization and vaulting,. Solid Payments in 2023 by cost, reviews, features, integrations, deployment, target market, support options, trial offers, training options, years in business, region, and more using the chart below. This series, “Just the FACs,” tracks the development and progression of ISVs and PayFacs. Integrate Evolve's payment service technology into your software platform and you can start offering your customers a seamless payments journey right away. The gateway handles the tokenization process, which hides the card information while it’s in transit; a very important piece of the data security in payments. Exact handles the heavy. Until recently, SoftPOS systems didn’t enable PINs to be inputted. 6 billion; Generated Diluted EPS of $0. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Banking relationships matter: Whether a subscription provider is acting as an ISO or PayFac or simply passing leads on to an acquirer in a referral arrangement matters. Assessing BNPL’s Benefits and Challenges. Atlanta-based Rainforest has had a strong first year in business. Our Mission at NCMI starts with these values. Accelerate your growth with instant. From 2003 through 2011, Adam ’ s role was focused on the development of larger and more complex eCommerce merchants, which remains one of. Put our half century of payment expertise to work for you. 60 Crores. Access raw data and view trends on individual giving and donor behavior. The sponsor is the entity that enables a payment facilitator’s entry into the payments system. NMI closes strategic Creditcall acquisition. per successful card charge. com or Paysafe Group: Amy Gregus, +1 514-294-0247 Head of Corporate Communications – North America amy. 01274 649 893. 2. The complexity of B2B payments workflows and the depth of the market leave room for verticalized solutions tackling specific customer subsegments. Payments is an expert in embedded payment solutions, enabling SaaS businesses to monetize payments through its turnkey PayFac-as-a-Service solution. A sponsor may be a bank themselves or may be a bank authorized entity that. +2. Automated sub-merchant creation and management KYC service and reporting Sub-merchant accounting and Sub-merchant statements Payment facilitators (PayFacs) are companies that provide merchant services to businesses in various industries. What SaaS & E-commerce Companies Need to Know About Payment Facilitator Regulations, and what key regulations. Payment facilitators, or PayFacs, is a single merchant ID (MID) with a payment service provider and board ‘sub-merchants’ under their own MID, essentially acting as one large merchant account. Explore Toast for Cafe/Bakery. 197K views 6 years ago. Though they both operate in the payment processing industry, they have distinct differences that can impact businesses in various ways. Full-year 2022 GAAP Diluted EPS was $ (27. NMI closes strategic Creditcall acquisition. Electronic Transactions Association (ETA) @ElecTranAssoc. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. VacationRentPayment/Yapstone is a Payment Facilitator (PayFac), which is a sub-merchant account used to provide payment processing services to their own merchant clients. Through each stage of online payment processing, your pool of potential customers can gradually shrink. Discover flexible, scalable solutions that fuel your growth and transform the payments experience to delight your customers. The conference call can be accessed live over the phone by dialing +1. Braintree pricing. Become a Payfac Enabler - enabling software & payments companies, and banks to manage their payment’s operations in a payment facilitation model. The core of their business is selling merchants payment services on behalf of payment processors. What it Means: When a customer demands a chargeback, that money isn’t drawn directly from the merchant’s account. 847. August 02, 2022 08:30 AM Eastern Daylight Time. We cover the regulations and compliance checks such as KYC & AML. Remittances. Embedded Finance Series, Part 3. There’s also Cash App, Google Pay, Apple Pay and even Facebook Messenger. The city has a population of 91,867, and. payment processing. PayFac. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be necessary. Exact Payments, a leader in embedded payment solutions for SaaS businesses, enables them to monetize payments with its turnkey PayFac as a Service solution. Grow your revenue by offering more value to your merchants using NMI’s full commerce enablement platform. 3 billion of capital to shareholders through share repurchases and dividends paid; Announcing Enterprise Transformation Program targeting at least $500 million in cash savings;. [1] [2] Total System Services, Inc. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. As a result. While an ISO technically only needs one processing partner to operate, generally speaking, ISOs work with half a dozen or more processors in order to maximize the options they can provide to merchants. If you are a registered PayFac or in the process of becoming one, FACe will provide you with the turn-key interface to accelerate your go to. With Payrix Pro, you can experience the growth you deserve without the growing pains. The PayFac model dramatically simplified the merchant onboarding process for companies like Stripe, Square, and PayPal by letting them leverage a. 5 billion, with a 2x growth in user base. The launch of the platform has. com. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Nick Starai of gateway tech company NMI told. NMI is a leading global payment enablement platform. Find the highest rated Payment Facilitation (PayFac) platforms in India pricing, reviews, free demos, trials, and more. Discover the latest NMI company news, press and updates in top payments industry publications. Step 2: Segment your customers. Discover how REPAY can help streamline your billing process and improve cash flow. NMI has a ready-to-deploy platform that supports a wide range of payment facilitation needs. Find the Right Online Payment Gateway. Fortis provides the Service to you to facilitate payments to Sub-Merchant by card and direct debit payments (Canada only). With a strong focus on flexibility and customization, NMI offers a seamless approach to handling payment data, especially for online payments. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be. NMI Lisa Puchalski, 847-352-4850 x151 Director of Marketing [email protected] state law, a money transmitter is required to obtain a license in every state where it either receives funds from, or sends funds to, a resident of that state, whether an individual or a commercial entity. Payments is a hidden, festering cancer of a solution, so payments companies can – and too often do – charge whatever they want, and the merchant has no idea what they’re paying. “FinTech companies — PayPal, Square, Stripe, WePay. View benefits. NMI payment facilitator enablement (FACe): a one-stop solution . Prepaid business is another quality business that is growing 20%, worth $2. About. Pillar 1: Onboarding and underwriting The PayFac handles all of the compliance checks on new merchant applications and ensures that they are safe to bring onto the platform. Most important among those differences, PayFacs don’t issue each merchant. Global expansion. By partnering with Stax, you can avoid the added costs and complexities of becoming a payfac. November October September August July June May April March. A nautical mile is a non-SI unit of Length or Distance. Varanium Cloud IPO date is fixed, The IPO will open on September 16 and will close on September 20, 2022. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Payments for platforms and marketplaces. It also must be able to. tsys . Austria. In our hypothetical above, a vertical SaaS company that adds, or even embeds, financial products, can potentially 5x the revenue per customer from the $200/month software spend to the full $1000/month for. An ISO, or independent sales organization, is a company that resells payment services to merchants on behalf of a payment processor or acquiring bank. With disruptors appearing everywhere in the payments ecosystem, staying ahead of the curve requires providing more than just merchant accounts and payment processing. The new PIN on Glass technology, on the other hand, is becoming more widely available. But the model bears some drawbacks for the diverse swath of companies. Cách tạo và thiết lập tài khoản PayPal nhanh chóng. However, it can be challenging for clients to fully understand the ins and outs of. Firstly, a payment aggregator is a financial organization that offers. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Often you don’t. A gateway may have standalone software which you connect to your processor(s). NMI is a leading global payment enablement platform, processing more than $180 billion in payments annually. Canada. We recognize the importance of our Client's needs and We acknowledge. If you have not yet setup a Nazarene Account and need access to your projects in the new system, please contact us at nazww@nazarene. Something went wrong. They’re closely related to independent sales organizations (ISOs), but the main difference is that ISOs repackage payment processing services and sell them on behalf of a larger company. With TransLink, you don't have to imagine. ”. In 2021, global payment facilitators processed over $500 billion in transactions – a 75% increase over the previous year and an 11x increase over the total just half a decade earlier. What ISOs Do. In fact, they broke the mSubscribe or log in to read the rest of this content. We have APIs for all business types, whatever your size or location and whether you take payments online or at point of sale. View Platform. Remittances. 3. ISOs are an exceptionally important part of the payments ecosystem, serving a critical role that supports both their processing partners and their merchants. IRIS CRM enables agents to sign merchants up for payment gateway services through NMI, along with NMI’s full suite of value-added services. Benefits and criticisms of BNPL have emerged on several fronts. Find the highest rated Payment Facilitation (PayFac) platforms in New Zealand pricing, reviews, free demos, trials, and more. Understanding the Payment Facilitator model The payment facilitator model was created as a way of streamlining business’ processes in a way that would allow them to accept electronic. Let’s break this down. We would like to show you a description here but the site won’t allow us. ISO CRM. ‘PayFac’ technology simplifies underwriting and onboarding merchants One key catalyst for online payment innovation was the introduction of the Payment Facilitator, or “PayFac,” in 2010. (3350 Ratings) The new standard in online payments. ”. com. GETTRX Zero; Flat Rate; Interchange; Learn. Discover data-backed insights for better engagement. Our APIs enable you to build and scale end-to-end payments. TINLEY PARK, IL —August 17th, 2020 – Payroc LLC and its affiliates (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today that their Canadian Integrated Payments Platform (Caledon) has partnered with NMI, a. ·. Even within the payments industry, ISOs and the role they play are. An ISO, or independent sales organization, is a company that resells payment services to merchants on behalf of a payment processor or acquiring bank. Create new revenue. 40/share today and. Multiple acquisitions and disparate systems meant time and money wasted in managing and reconciling across over 165 locations and medical offices. Payment facilitators control the onboarding process for their customers – referred to as submerchants in the payment facilitator model – and are responsible for handling certain aspects of the. A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Next, let's look at an example showing the work and calculations that are involved in converting from kilometers to nautical miles (km to nmi). Whether you’re a software provider or a new ISO or PayFac, once you start offering payment acceptance to your customers, it’s crucial to understand. The Evolution of the PayFac In the rapidly changing landscape of modern commerce, the way we pay has undergone a remarkable transformation. With companies like Stripe, Square and PayPal pioneering the payment facilitator or “PayFac” model, the era of Integrated Payments 2. Payment Facilitator (PayFac): 大商户模式，是商户而不是收单机构。Payfac可以对接一些子商户。 二、 收单费. Payment PROCESSing. A payment facilitator is a company that allows their customers to accept electronic payments using the payment facilitator’s infrastructure. 847. 303. 安全地存储数据，这在 PCI 标准的 12 个安全域中有所概述，例如加密、持续监控和对支付卡数据的. 👉Just nu 0% i transaktionsavgifter! Snabb & enkel onboarding Automatisk bokföring. The core of their business is selling merchants payment services on behalf of payment processors. com. PayFac-as-a-Service; Pricing. Turning the card, PayFac continues to generate strong growth, 27% for the quarter, as Greg will discuss, it's been a busy quarter of increasing penetration with existing ISVs, implementing new. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an. There are numerous PayFac-as-a-service benefits. 59% plus 49 cents. Accordingly McKinsey thinks ATMs will decline at 6% a year through 2025. Release Summary. 916. 4. Braintree charges a flat rate depending on the payment type. 6638. We are the hub of activity for financial institutions, networks, payments companies, fintechs, and technology innovators. As a critical element of our end-to-end telemedicine technology, Usio’s PayFac-in-a-Box solution simplifies the payment process, enabling the professionals we serve to focus on the delivery of. Messages. Compare the best Payment Facilitation (PayFac) platforms in Mexico of 2023 for your business. on-ramp, off-ramp and NFTs. PayFac vs merchant of record vs master merchant vs sub-merchant. 30 Transaction fee per agreement with merchant $9. 303. is the future — we get you there now. NCMI. 5. 2023. When a company decides to operate as a payment facilitator, it obtains a payment facilitator account from an acquirer and aggregates payment transactions for its merchant portfolio through that account. Full commerce is the future — we get you there now. A payfac is a type of payment aggregator, but it typically provides a more comprehensive suite of services. In fact, NCR’s spinout ATM business. Unit Symbol Measurement System Description; inches: in or "US Customary Units/Imperial System: 36 inches = 1 yard:Download Now. Improve acquisition, usage and activation with instant money movement. is the future — we get you there now. Knowing your customers is the cornerstone of any successful business. A PayFac will fall in the middle of this spectrum, providing payment processing services using sub-merchant accounts. Full commerce. 处理来自客户的信用卡数据的准入，即安全地收集和传输敏感的信用卡信息. NMI has also launched, FACe, facilitation enablement. Get in touch for a free detailed ROI Analysis and Demo. 0 began. There isn’t really a limit to how many independent agents an ISO or PayFac can bring on to sell credit card processing services, because compensation is almost entirely commission-based. A PayFac, or payment facilitator, was originally defined by Visa® and Mastercard® to describe the entity that is officially doing business with the card brands. Authorize. SwervePay. This relatively new payfac business model is experiencing rapid growth. PayFac Sooners and Boomers. NMI's full commerce platform can help you increase your revenue and offer more value to your merchants. Those sub-merchants then no longer have to get their own MID and can instead be boarded under the master MID of the PayFac who is sponsored by a bank,” Roy Banks, CEO of NMI, told PYMNTS. Manage Your Payments. , May 26, 2021 – Fortis Payment Systems, LLC (FortisPay), a payment technology leader for businesses, independent software vendors (ISVs), and developers, announced today the acquisition of EpicPay International, LLC (EpicPay), an award. Compare the best Payment Facilitation (PayFac) platforms in New Zealand of 2023 for your business. Paymi is a proud partner of CIBC. Read on to learn how to update your account settings in the Merchant Portal. As Verrillo noted, there are more than 200 unique PayFacs registered across the region — and they don’t all adhere to a. It also decreases go-to-market. A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. Moreover, NMI processes billions of dollars in payments yearly, making it one of the most significant gateways worldwide. Our full commerce enablement platform can deliver exactly that — a speedy and painless payment facilitation process that enables you to instantly create both a merchant account. Our automated solution reduces onboarding time by 70%, enabling ISOs. Small/Medium. Powerful payment solutions for businesses of all sizes. com or Paysafe Group: Amy Gregus, +1 514-294-0247 Head of Corporate Communications – North America amy. The payfac model has catapulted into the mainstream, thanks to payments disruptors like PayPal, Square, and Stripe. payments world. It’s used to provide payment processing services to their own merchant clients. (commonly referred to as TSYS ), is an American financial technology company headquartered in Columbus, Georgia. Varanium Cloud IPO is a SME IPO of 3,000,000 equity shares of the face value of ₹10 aggregating up to ₹36. When PayFac became a buzzword among software platforms and the many businesses trying to sell to them, the meaning of the word started to blur. NMI 26,594 followers 3d Report this post. PayPal được thành lập vào năm 1998, có trụ sở tại San Jose, California, Hoa Kỳ. Clearly Payments. This was around the same time that NMI, the global payment platform, acquired IRIS. A payment processor serves as the technical arm of a merchant acquirer. ·. 02 (Processing fee (monthly)) $0. We provide tools, resources, and dedicated support—everything you need to succeed. Every Worldpay Payfac – And Merchant – Must Prepare to Get Screwed. Instead of each individual business needing to set up its own merchant account, a process that can be time-consuming, the payfac effectively “rents out” merchant account functionality under its larger master merchant. Provides update on previously announced. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. PayFac Portal User Guide Detailed instructions on the use of the PayFac Portal, used to provision sub-merchants to the US eCom platform. Visitor Tracking. Parties interested in joining the growing NMI team or learning about Matt and NMI’s unified commerce enablement platform are invited to meet at the upcoming Money20/20 conference being held at. Proven payment technology helps businesses pay and get paid so they can focus on what matters most. Donor Impact Data Hub. 2M) = $960,000 annually. Add a single API with endless potential to your product & there’s no limit to what you can build. But the cost and time investment involved means that any company considering the option should. 收单行收取费用，有时称为Merchant Discount Rate ， 该费用通常为每笔交易额的百分比。复杂之处在于，一般收单行收取的总交易费用可以分为多个不同部分，由. Once a sub-merchant has been through the onboarding process it is down to the PayFac to control payments adhering to the rules. Residuals are the small fractions of each transaction that go to independent sales organizations, PayFacs, and independent agents as compensation for the work they do and the important role they play in the industry. [email protected] matter what your size, we can help enhance your business with streamlined, intuitive payment options for your customers, backed by a suite of payment tools to help you: Streamline billing and. Accept in-Person Payments. Afterpay remote payments. 2. This blog post explores. NMI offers a broad range of payment devices for all industry verticals and applications. What is a PayFac? A payment facilitator (PayFac) is a type of merchant acquirer that provides processing services to companies looking to accept card payments. payment facilitator (payfac) MoRs and payfacs both play significant roles in the ecommerce payment process, but their responsibilities and the scope of their services differ. The payfac has a more specific focus on the payment processing element. Stripe Connect is the fastest and easiest way to integrate payments into your platform or marketplace.