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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. eCheck, PayPal, etc.)
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. eCheck, PayPal, etc.)
As such, any business that accepts and processes creditcard transactions should be aware of PCI DSS compliance requirements. PCI DSS is constantly updated, so you should check if your security control system complies with the latest standards. In 2022, 31% of all payments were made using creditcards.
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