In other words, ISOs function primarily as middlemen (offering payment processing), while. 3 Rounds of Lottery Drawings. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. A PayFac sets up and maintains its own relationship with all entities in the payment process. As small business grows, MOR model might become too restraining, while payment facilitators provide robust APIs, which sometimes allow merchants to customize each function separately, according to their. One of the reasons for this phenomenon is that many companies (including former independent sales organizations (ISO)) find it more profitable to combine the functions of an online gateway provider and a merchant service provider (MSP). The payment facilitator, or “PayFac”, model of merchant acquiring is growing extremely rapidly. Stripe benefits vs merchant accounts. The PayFac does not have to underwrite all merchants upfront — they are instead, underwriting the merchants essentially as they continue to process transactions for them on an ongoing basis. Instead of each individual business. Each of these sub IDs is registered under the PayFac’s master merchant account. This gateway is designed to be PCI compliant, taking steps to protect credit card information by complying with industry security standards. Payment Facilitator. Traditional payment facilitator (payfac) model of embedded payments. 30, including 2-3% for every transaction, and $0 to $25 monthly cost. merchant accounts. An ISO works as the Agent of the PSP. Mastercard PayFac Models: The Ins and Outs of the “Big Two” Payment Facilitator Programs. Global reach. The Payfac Solution Provider (PSP) handles all of the underwritings, setting up of accounts, development of integrations with processors, connections with gateway partners (if applicable), the. Typically a payfac offers a broader suite of services compared to a payment aggregator. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting, and customer support. Benefit from fault-tolerant, scalable services plus rapid, safe, data-driven product enhancements on a. This crucial element underwrites and onboards all sub-merchants. In the PayFac model, banks that monitor PayFacs are called Acquiring Banks. 0. Both offer ways for businesses to bring payments in-house, but the similarities. United States. With UniPay Platform you have the options of an affordable white label payment gateway solution, a full on-premise software. Global expansion. The former, conversely only uses its own merchant ID to. The biggest advantage is you will get approved far quicker, and in some cases immediately. There is then additional time ensuring the payment gateway or application using the payment processing has all the appropriate merchant account credentials provisioned. Global expansion. Typically a payfac offers a broader suite of services compared to a payment aggregator. Prepare your application. Whether to become a Payment Aggregator or Payment Facilitator has far reaching implications for a SAAS application provider. A payfac vs. Here’s how Visa defines payment facilitators and sponsored merchants: “PayFac or merchant aggregator, a payment facilitator is a third party agent that. Malaysia. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Stripe, which is a tech-enabled evolution on the traditional payfac model, is a complete solution that combines the functionality of a merchant account and a gateway in one. merchant accounts. Onboarding processWhat is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. As your true payments partner, we provide you with an entire division of payments experts essentially in house. Talk to an expert. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. It works by using one umbrella merchant account that allows every merchant to open as a sub-account underneath it. Just like some businesses choose to use a third-party HR firm or accountant,. It is often used to refer generally to any number of providers ( including gateways – we’ll get to that in a minute) involved in enabling and supporting payments. Stripe, a tech-enabled evolution on the traditional payfac model, offers a complete solution that combines the functionality of a merchant account and a gateway all in one. PayFac as a Force MultiplierWhat is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. The difference is that a payment processor can provide a single gateway for multiple payment methods. +2. Our payment-specific solutions allow businesses of all sizes to. Facilitators for short are called “PayFac”. The PayFac model eliminates these issues as well. The easy-to-use and instantaneous nature of the Payment Facilitator makes it such a popular choice among merchants. Payment facilitators (PFs) were created to make a more streamlined path to electronic payment acceptance for small and medium-sized businesses. + 0. Here are the best alternatives to Stripe from providers like Square, Helcim, and Treati. Global expansion. PayFac vs ISO is an illustrative example of natural selection and adaptation in the fintech world. In 2019, Visa and MasterCard generated combined revenues of almost $40 billion. Stripe benefits vs merchant accounts. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting, and customer support. In simple terms, the MOR is the name that the customer (cardholder). Within the payment industry, VAR model emerged as the product of ISO evolution. In this case, it’s straightforward to separate the two. PayFacs can provide an infrastructure and gateway for sub-merchants, providing them with benefits such as an automated underwriting tool with real-time approval and integrated fraud prevention. Here are some pros and cons of Payment Aggregation: The disadvantages to the Payment Facilitator model. You own the payment experience and are responsible for building out your sub-merchant’s experience. The key aspects, delegated (fully or partially) to a. E-CommerceRenew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Why PayFac model increases the company’s valuation in the eyes of investors. A sub-merchant platform involves a Payfac that has been pre-approved for one master merchant account with an acquirer, like TD. PayFac is software that enables payments from one vendor to one merchant. Manage Your Payments. To fulfill its core responsibilities, a payment processor typically uses a payment gateway to 1) encrypt and transmit payment details, and 2) communicate transaction approvals and declines. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting and customer support. With companies like Stripe, Square and PayPal pioneering the payment facilitator or “PayFac” model, the era of Integrated Payments 2. What SaaS & E-commerce Companies Need to Know About Payment Facilitator Regulations, and what key regulations govern their operation. apac@bambora. A payment processor is a company that works with a merchant to facilitate transactions. 4. Global expansion. Firstly, it has a very quick and easy onboarding process that requires just an. It offers a secure pathway that requests and manages payment in order to take money from the customer and pass it into the merchant’s bank account. Integrated Payments 1. A merchant of record is an entity that accepts cardholders’ payments and assumes liability for processing of these payments on the merchant’s behalf. payment processor question, in case anyone is wondering. In recent years payment facilitator concept has been rapidly gaining popularity. UniPay Gateway is the leading Omnichannel payment processing and management solution for PayFacs, Saas and equity firms operating worldwide. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Typically a payfac offers a broader suite of services compared to a payment aggregator. Classical payment aggregator model is more suitable when the merchant in question is either an. 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. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Visa, Mastercard) around 2011 as a way for aggregators to provide more transparency into who their sub-merchants were. If you are an existing Bambora customer who needs assistance there are our support guides that can be found here. It then needs to integrate payment gateways to enable online. Authorize. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. A payment processor. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. PayFac model is easier to implement if you are a SaaS platform or a. The arrangement made life easier for merchants, acquirers, and PayFacs alike. The traditional method of bringing payments in-house involves integrating a payment gateway or processor into the platform, allowing for seamless transactions within the platform. To manage payments for its submerchants, a Payfac needs all of these functions. The B2B FinTech company, WALBING, has obtained a Payment Service License from the German Federal Financial Supervisory Authority. 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. A payment facilitator (or payfac) is the owner of a master merchant identification number who registers merchants as sub-merchants and enables their payment acceptance. Chances are, you won’t be starting with a blank slate. It manages the transfer of funds so you get paid for your sale. This crucial element underwrites and onboards all sub. The entire operating cost, which includes the transaction cost, set-up cost, and admin cost, is the most crucial factor to consider. PayFacs take care of merchant onboarding and subsequent funding. Global expansion. Visa Checkout + PayPal. So to sum it all up: payment processors offer the functionality for merchants to start accepting payments and route. Here are the main considerations when deciding between a PayFac and an ISO: Onboarding - the ISO onboarding process is usually. We would like to show you a description here but the site won’t allow us. Our payment-specific solutions allow businesses of all sizes to. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. The platform becomes, in essence, a payment facilitator (payfac). A payment processor handles the technical aspects of transaction processing and is connected to the banking system through the respective. Payment Facilitator. They decided to add a $285 annual fee to their merchants starting in. Payfac as a Service is the newest entrant on the Payfac scene. becoming a payfac. 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. With Stripe's payfac solution, unlock SaaS revenue, turn payments into a profit center, and offer new financial services through your software platform. With the exception of processors catering to high-risk industry, they also offer month-to-month billing. 83% of card fraud despite only contributing 22. Payment processors and payment facilitators both help enable businesses to accept and manage payments—but they’re not the same. 9% + 30¢. Cardknox Go (PayFac) – Become a Payment Facilitator, without the hassle;. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. What is a payment facilitator? A payment facilitator, also known as a “payfac” or payment aggregator, is a payment model that has grown tremendously over the past few years. agent A specified good or service is a distinct good or service (or a distinct bundle of goods orSo, revenues of PayFac payment platforms remain high. To ensure high security and performance levels, providers may make their own recommendations but can also honor existing gateway and processor relationships. However, it is difficult to determine whether this price is high or low without knowing what features the gateway offers. The PayFac would also need to hire a FTE to take exceptions and review these exceptions for risk. The future of integrated payments, today. Becoming a PayFac With NMI. 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. Every payment gateway, processor, or bank uses its own payment system (often a unique one). 1. Global expansion. Partnering with a PayFac vs becoming a PayFac with a technology partner. 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. Global expansion. Send payouts to 190+ markets with real-time payments infrastructure for on-demand business. This means that businesses only need Stripe to accept payments and deposit funds into their business bank account. What ISOs Do. Moreover, in a sense, PayFac model relieved acquirers from merchant management functions, which they delegated to PayFacs. Freedom to grow on your own terms. merchant accounts. 2. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Funds flow: As the master merchant, the PayFac receives funds from the Acquiring Bank during the settlement process. Payments. 2. Payment Gateway: Payment facilitation (PayFac) platforms provide a secure connection between the merchant and the payment processor, ensuring that payments are quickly and securely processed. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. It provides a technology, allowing to authorize transactions and, potentially, receive transaction settlement information. It is when a business is set up as a primary merchant account and provides payment processing to its sub-merchants. Difference #1: Merchant Accounts. Payroc LLC, together with its wholly-owned affiliate Payroc Processing Systems, LLC, is a registered Visa third party processor (TPP), Mastercard third party servicer (TPSV), payment facilitator. Some ISOs also take an active role in facilitating payments. NMI By signing up with NMI as a reseller, you can offer your merchants complete payment solutions that enable them to begin selling right away; Authorize. Maybe you are ready to become a full-fledged PayFac, maybe the answer is a managed PayFac, or maybe the best solution would be to act as an ISO. PayFac vs ISO: 5 significant reasons why PayFac model prevails. PayFac® solutions, at your service Worldpay from FIS is your advocate for payment facilitator solutions. However, PayFac concept is more flexible. This was around the same time that NMI, the global payment platform, acquired IRIS. Simplify funding, collection, conversion, and disbursements to drive borderless. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by creating a sub-merchant platform. Powerful payment solutions for businesses of all sizes. ISO vs PayFac: PayFacs and ISOs play important intermediary roles in the payments ecosystem. While there is some overlap between a payment processor and a PayFac, there are also some important differences you should be aware of (although this isn’t a fully exhaustive list!) Here are the top 6 differences: The electronic payment cycle What is a payment facilitator (PayFac)? Essentially, PayFacs use the acquiring license of another company to provide payment services to sub-merchants. The MoR is also the name that appears on the consumer’s credit card statement. A gateway may have standalone software which you connect to your processor(s). 2CheckOut (now Verifone) 7. Seamless graduation to a full payment facilitator. Payfac-as-a-service vs. You own the payment experience and are responsible for building out your sub-merchant’s experience. For most merchants, it makes sense to go with a merchant services account and. A payment gateway on the other hand is technology that verifies payments between merchants or vendors. Thanks to its flexibility and profitability, PayFac model seems to perfectly adjust to the present-day market requirements. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Stax (formerly called Fattmerchant), is a merchant services provider known for its subscription-based pricing and 0% markup on interchange rates. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Typically a payfac offers a broader suite of services compared to a payment aggregator. Here’s how Visa defines payment facilitators and sponsored merchants: “PayFac or merchant aggregator, a payment facilitator is a third party agent. The TPA categories are listed in the table below. The ISO acts as an intermediary between the merchant and the payment processor, taking care of merchant recruitment, sales, and ongoing merchant. Payfac and payfac-as-a-service are related but distinct concepts. net; Merchant of Record Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Generally, ISOs are better suited to larger businesses with high transaction volumes. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. PayFac vs merchant of record vs master merchant vs sub-merchant. Some say, a VAR is an evolutionary stage between a traditional ISO and a SaaS provider. e. A payment gateway on the other hand is technology that verifies payments between merchants or vendors. This provides greater ease-of-use, but the PSP charges more per transaction in exchange. The first is the traditional PayFac solution. A Payment Facilitator, or PayFac, is a sub-merchant account used by merchant service providers to provide payment processing services to their own clients, known as sub-merchants. This means providing. The difference is that a payment processor can provide a single gateway for multiple payment methods. The customer views the Payfac as their payments provider. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Funding A major difference between PayFacs and ISOs is how funding is handled. 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. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. To put it another way, PIN input serves as an extra layer of protection. Integrate Evolve's payment service technology into your software platform and you can start offering your customers a seamless payments journey right away. Payment gateway Payfacs provide a payment gateway, a software that acts as an intermediary between a business’s website and the payment processor. Find the right payment solution to meet your unique business needs, whether you're in the restaurant, retail, automotive, personal care, or professional services business. NerdWallet rating. The PSP in return offers commissions to the ISO. Moreover, integrating a payfac solution into ISV’s software removes the need for a merchant to create a relationship outside of the software with acquiring banks or payment gateways. A merchant acquirer or an acquiring bank is a bank that underwrites (and later funds) a merchant and (what is important) assumes the liability and risk, associated with credit card fraud and chargebacks. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. In a similar manner, they offer. Stripe benefits vs merchant accounts. Standard support line. One classic example of a payment facilitator is Square. Global expansion. The rate. Like a phone plan, Stax offers add ons to their base plans, like same day funding and custom branding for invoices-but. ) and network cards (credit/debit cards). While Tilled’s PayFac offerings will bring a lucrative new revenue stream to your business through payment monetization, we do more than write you a check each month and wish you luck with this new aspect of your business. Your application must include: the application form relevant to your type of firm. as a national independent sales organization in 1989. 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. Payment Facilitation offers the SaaS application the ability to control the end customer's payment experience. Payment Gateway Articles describing the key fintech news, innovative solutions, and various aspects of the industry. Acquirer = a payments company that. 01. WorldPay. a merchant to a bank, a PayFac owns the full client experience. using your provider’s built. Operating on a platform that acts as a payfac means there’s no need to work with an acquiring bank, payment gateway, and other service providers. The terms acquiring and issuing refer not to specific banks, but to where those banks are in the transaction flow. A payment processor serves as the technical arm of a merchant acquirer. While there are many benefits of integrating to a Payfac, two of the most notable are frictionless onboarding and risk, liability and costs associated. 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. Get in touch for a free detailed ROI Analysis and Demo. 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. Owners of many software platforms face the need to embed. “A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. However, businesses of all sizes can gain profit from UniPay PayFac Model, as it provides a mere and efficient way to accept payments. GETTRX’s Zero and Flat Rate packages offer transparent billing, competitive rates, and industry-leading customer service, making them ideal choices for businesses seeking a seamless payment experience. Especially, for PayFac payment platforms and SaaS companies. PayFac Solution Types. For SaaS providers, this gives them an appealing way to attract more customers. Payfac as a Service providers differ from traditional Payfacs in that. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. Are you a business looking to expand your payment acceptance options? Have you heard of payment facilitators, also known as PayFacs? These modern payment solutions offer more flexible and cost-effective options. Discover how REPAY can help streamline your billing process and improve cash flow. ACH Direct Debit. You own the payment experience and are responsible for building out your sub-merchant’s experience. Using payment facilitation, customers can be onboarded and verified quickly, with a faster underwriting process. Your credit, debit, or prepaid card information is safe with us. Managed PayFac or Managed Payment Facilitation – The 2023 Guide. As small business grows, MOR model might become too restraining, while payment facilitators provide robust APIs, which sometimes allow merchants to customize each function. It accepts all payment types, ranging from direct credit/debit to PayPal, Skrill, Paytm, etc. The gateway encrypts the information it received from the buyer and sends the transaction data to a card association. ,), a PayFac must create an account with a sponsor bank. Stripe operates as both a payment processor and a payfac. Payfac-as-a-service vs. Successfully certified payfacs will receive the status of Visa Certified Payment Facilitator. Timely settlements and simplified fee payments. This means that businesses only need Stripe to accept payments and deposit funds into their business bank account. ), and merchants. 00 Payment processor/ merchant acquirer Receives: $98. Think debit, credit, EFT, or new payment technologies like Apple Pay. When you enter this partnership, you’ll be building out. Stripe benefits vs. EVO was founded in the U. PayFac: A PayFac essentially takes on some of the duties of a payment processor and a payment gateway and acts as the merchant-of-record for the acquirer, servicing its submerchants (customers). You own the payment experience and are responsible for building out your sub-merchant’s experience. Merchants that want to accept payments online need both a payment processor and a payment gateway. For instance, a gateway provider may charge a monthly fee of $30 and 2. Bank/ credit or debit company. These systems will be for risk, onboarding, processing, and more. A payment processor is a company that works with a merchant to facilitate transactions. Third-party payment providers If you're not using Shopify Payments and you want to accept credit cards, you can choose from over 100 credit card payment providers for your Shopify store. The first is the traditional PayFac solution. This is a clear indicator that fraud monitoring should be a priority in 2022 and beyond, and why it’s vital to work with a PayFac like. Payfac conducts oversight on all the transactions on its platform to ensure that all payments operate under legal and network regulations. . The PSP in return offers commissions to the ISO. A PSP, on the other hand, charges a variable fee in addition to the fixed fee. Who Gets Involved in the PayFac Scene? There are five main elements which compose the payment facilitator landscape. Online Payment System Software and Global Payment Processor - UniPay Gateway. Fortis manages everything for you – underwriting, fraud monitoring, funding, gateway reporting, and chargeback management. A Payfac provides PSP merchant accounts. A best-in-class payment solution. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. 5. However, PayFac concept is more flexible. A payment facilitator (PayFac) is a merchant services business that sets up electronic payment and processing services for business owners, so they can accept electronic payments online or in-person. What’s the distinction between Payfac and PSP? A payment Facilitator is a third-party payment service provider (PSP). becoming a payfac. A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. Wide range of functions. It becomes more lucrative for a PayFac to offer merchant, gateway, and other services in one package and to support a single acquirer/processor. Payment facilitator model is becoming increasingly popular among many types of companies. Sub Menu Item 5 of 8, Mobile Payments. Classical payment aggregator model is more suitable when the merchant in question is either an. These include SaaS providers, investment firms, franchise owners, online marketplaces, and others. It is significantly less expensive compared to using a regular PayFac model. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. Suspicious and fraudulent identification. Respond to times of unprecedented speed and always look to the future. While both models allow businesses to accept payments, a payfac might provide additional services such as payment gateway integration, hardware for in-person payments, fraud protection, transaction reporting and customer support. Indeed, value. Fueling growth for your software payments. At first it may seem that merchant on record and payment facilitator concepts are almost the same. Payment facilitation allows SaaS and digital platform businesses to onboard merchants, provide payment processing on their behalf, and handle the myriad complexities of managing transactions. Payfacs provide a payment gateway, a software that acts as an intermediary between a business’s website and the payment processor. The information flow for Batch is illustrated below: Your integration aggregates payer operations into a batch and uploads the batch of operations using HTTPS PUT over the Internet to the MasterCard Payment Gateway via the MasterCard Payment GatewayBatch service. 40% in card volume globally. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. Basically, a payment gateway is simply an online POS terminal. A payment gateway and merchant account often cost between $750 to $1,200 in set-up expenses, $0. If you want to become a payment. The ISO acts as an intermediary between the merchant and the payment processor, taking care of merchant recruitment, sales, and. TPA Category . Popular 3rd-party merchant aggregators include: PayPal. This way, you can let the PayFac worry. Payment facilitation helps you monetize. ISO vs. Most important among those differences, PayFacs don’t issue. With Fortis’ PayFac solution, software developers and merchants can leverage award-winning APIs and leading payment technology to scale their business. Under the payment facilitators, the merchants are provided with PayFac’s MID. 78% of people 40 and under would stay with their bank if it went all digital, according to our recent Expectations & Experiences consumer research, focused on digital banking and fintech services. slide 1 to 3 of 3. There are two ways to payment ownership without becoming a stand-alone payment facilitator. A payfac is a platform that intermediates payments between consumers, payment operators (card operators, banks, PSPs, etc. Acquiring banks willingly delegated them to payment facilitators in exchange for part of liabilities and residual revenues. Payment Facilitator (PFAC, PayFac, PF): A merchant service provider who can facilitate transactions and simplify the merchant account enrollment process on behalf of the sub-merchant. A PayFac is the official merchant of record with the major card brands such as Visa and Mastercard and holds the relationship with the acquiring bank. Stripe benefits vs merchant accounts. PG vs PSP vs ISO vs PayFac vs Payment Aggregator Payment Gateway a payment gateway means just a technological platform, while a payment aggregator. NMI’s gateway, merchant relationship management and embedded payments solutions provide PayFacs, ISOs and software developers with everything they need to offer elevated merchant services. com. 5%. By using a payfac, they can quickly.