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Becoming your own Payment Facilitator (PayFac) sounds greatuntil you realize its a regulatory nightmare , a financial black hole , and takes longer than your last DIY home improvement project (which, lets be honest, is still unfinished). So, which fintechs offer the best PayFac-as-a-Service? Lets break it down.
At a very high level, a referral partnership is an integrated payments model. You as the software company make an agreement with a payment processor to become one of their referral partner s. We will explore the risk s in more detail in the next section. What is PayFac-as-a-Service?
Embedded Payments Embedded Payments include three types of payment models that SaaS platforms use to manage their transactions: integrated payments or referral partnerships, PayFac-as-a-service, and payment facilitation, or PayFac. How do payment processors securepayments?
“Our partnership with Usio p erfectly complements this vision by providing a simple and secure way to integrate payments into any ues.io Usio Payfac-as-a-service solution offers a comprehensive suite of features designed to simplify payment processing for businesses of all sizes. application. Key benefits for ues.io
Its payfac-as-a-service solution — Payrix Pro — enabled Nick to control the onboarding and customer service, while Payrix managed the processing, compliance, and most of the risk and liability. I’m a studio management company. I didn’t want the liability issues either.” Get started today.
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