ACH PayFac Providers, short for Automated Clearing House Payment Facilitators, are entities that have streamlined the process for businesses to accept electronic payments directly from bank accounts. A Payment Facilitator essentially acts as a master merchant, facilitating transactions on behalf of sub-merchants. They are an integral link between merchants, customers, and financial institutions, managing the […]
Payment Facilitator Solutions are often a great fit for SaaS platforms.HealthCare applications with payment solutions are often interested in Payment Facilitation because of the frictionless onboarding experience.
Becoming a Payment Facilitator, Payment Service Provider [PSP] or Payment Aggregator. In Payment Aggregation, being a Payment Facilitator can be thought of as being a Master Merchant, facilitating credit and debit card transactions for sub-merchants within your payment ecosystem. Becoming a PSP (also known as PayFac) lends itself well to some businesses that fall into […]
The number of SaaS companies looking into payment processing on behalf of their customers is growing rapidly. More and more companies are looking at Payment Aggregation | Payment Facilitation as an attractive option to provide a service that offers fast, easy onboarding for their customers and generate new revenue streams in the process.
For the SaaS provider, potential advantages in becoming a Payment Facilitator (aka Payment Aggregation) are compelling: payment facilitation drives ease of client onboarding and unlocks a new stream of revenue generation.
Payment facilitation, or operating as a “PayFac” allows a SaaS company to act as a master merchant for its client base. The SaaS provider onboards clients via a non-intrusive application process — making it simple for the user base to quickly begin accepting customer payments by credit card or ACH Payments [some providers offer].