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Payment facilitator (PayFac) A merchant registered by an acquirer to facilitate transactions on behalf of sub-merchants. They provide the infrastructure necessary for their merchants to acceptcreditcardpayments.
According to a report by the Federal Reserve Bank of San Francisco , creditcard usage among Americans has been steadily increasing since 2016. In 2022, 31% of all payments were made using creditcards. This shows that businesses cannot ignore acceptingcreditcardpayments.
Payment facilitator (PayFac) A merchant registered by an acquirer to facilitate transactions on behalf of sub-merchants. They provide the infrastructure necessary for their merchants to acceptcreditcardpayments.
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