For our enterprise merchants, we introduced several new Carat capabilities last PayFac Service and Support: Growing a large, stable portfolio of residuals requires constantly bringing in new merchants, but it also requires keeping the top producing merchants happy. Through each stage of online payment processing, your pool of potential customers can gradually shrink. Compare Wise vs PayPal, for instance, to see if there’s a cheaper way. NMI has also launched, FACe, facilitation enablement. Accessible From Anywhere. NCMI. Compare the best Payment Facilitation (PayFac) platforms in India of 2023 for your business. Our automated solution reduces onboarding time by 70%, enabling ISOs. PayPal vs. Grow and optimize your business and elevate payment experiences to secure commerceStripe Terminal makes it easier to build your point of sale and own your checkout experience, including creating customized email receipts or reader splash screens. Electronic Transactions Association (ETA) @ElecTranAssoc. Media. In the same way that cloud computing services democratized the ability to launch software products, integrated payment solutions are making it possible for SaaS companies to become payfacs, without taking on the huge capital expenditure. Our mobile, fixed and unattended options are all certified with leading processors. Stripe Connect is the fastest and easiest way to integrate payments into your platform or marketplace. This was an increase of 19% over 2020, with. We enable payments for over 3,200 partners and over 260,000 merchants around the world. What it Means: When a customer demands a chargeback, that money isn’t drawn directly from the merchant’s account. The first step in becoming a Payfac is ensuring that you will achieve a positive ROI from doing so. 916. Discover the latest NMI company news, press and updates in top payments industry publications. NMI user reviews from verified software and service customers. Just the FACs: Secure Your Business with PayFac 2. “A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. We handle partial payments, automatic failed payment retry, and automatic payment recovery. GETTRX Zero; Flat Rate; Interchange; Learn. Payment facilitation or PayFac-as-a-Service is your best bet if your business operates in a high-risk industry. In banking and payments, ISO stands for independent sales organization – a type of merchant services company that acts as an intermediary and matches merchants with the payment processing services they need. Exact handles the heavy. PayFac Solution Types. Find the highest rated Payment Facilitation (PayFac) platforms pricing, reviews, free demos, trials, and more. Our industry-leading payment solutions include mobile-initiated transactions, and real-time analytics to help you take your business to the next level. On balance, the benefits are substantial and the risks manageable. responsible for moving the client’s money. Release Summary. . Multiple business models with one tech stack lets you scale from zero-overhead payments revenues to licensed payfac on. It also decreases go-to-market time, while enabling them to offer the payments piece as their own. Let’s examine the key differences between payment gateways and payment aggregators below. Roy Banks, CEO of NMI, has a POV on whether this opportunity is only for a select few acquirers, or anyone willing to decode the mysterious process. The road to becoming a payments facilitator, according to WePay. Whether easy, complex or somewhere in between, we’ve got you. In the PayFac model, the PayFac itself is the primary merchant. Exact Payments handles the heavy lifting for payment operations, allowing software businesses to grow their revenue, valuation and improve product stickiness while increasing customer. Backup withholding is required on certain non-payroll amounts when certain conditions apply. Here you are able to edit your store name and update your address as needed. Electronic Transactions Association is in Ottawa today advocating on a number of payments issues, including a sales tax proposal, access to faster payments, and open banking. Your revenues – (0. Episode 8 of NMI's Payment Playbook podcast is live! Join us to hear from the Director of Product Management for Agreement Express (an NMI company), Darryl Cumming. Turning the card, PayFac continues to generate strong growth, 27% for the quarter, as Greg will discuss, it's been a busy quarter of increasing penetration with existing ISVs, implementing new. Full commerce. 2. 752. 28), and fourth quarter Adjusted EPS decreased 11% to $1. The merchant then must compile and submit what the card companies refer to as “compelling evidence” that the chargeback is invalid. is the future — we get you there now. Over the next five years, payment facilitators are expected to process more than $4 trillion in global gross payment volume, representing a 28. Provides update on previously announced. NMI’s FACe technology allows ISVs to reduce overhead by removing the expense associated with creating their own Pay-Fac functionality. Varanium Cloud IPO is a SME IPO of 3,000,000 equity shares of the face value of ₹10 aggregating up to ₹36. Benefits and criticisms of BNPL have emerged on several fronts. PayPal vs. We are the hub of activity for financial institutions, networks, payments companies, fintechs, and technology innovators. 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. A payment facilitator or payfac is a service provider that affords small and medium-sized merchants the means to process debit or credit card payments more quickly, efficiently, and securely, allowing them more room to focus on their core business objectives. Your homebase for all payment activity. Every Worldpay Payfac – And Merchant – Must Prepare to Get Screwed. [3] [4] TSYS is the largest third-party payment processor for issuing banks in North America, with a 40%. [1] [2] Total System Services, Inc. Avoid the slow, manual sub-merchant onboarding with other payfac solutions, and offload your payments compliance obligations to Stripe. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. A PayFac, or payment facilitator, was originally defined by Visa® and Mastercard® to describe the entity that is officially doing business with the card brands. What is a PayFac (Payment Facilitator)? A Payment Facilitator (PayFac) is a third-party service that lets merchants accept various forms of non-cash payments like credit/debit cards or digital payments. The 2023 Nonprofit Email Report. Unit Symbol Measurement System Description; inches: in or "US Customary Units/Imperial System: 36 inches = 1 yard:Download Now. In our hypothetical above, a vertical SaaS company that adds, or even embeds, financial products, can potentially 5x the revenue per customer from the $200/month software spend to the full $1000/month for. By 2014, we evolved to deliver integrated, white label payments solutions to leading SaaS platforms. NCMI. Today, instead of software providers depending on ISOs for payment processing, many become ISOs themselves. [email protected], just as seen in Europe, several PayFac had thrown their hats into the payments ring and sought to simplify the path for merchants to offer a broader range of functionalities. Put our half century of payment expertise to work for you. By using a payfac, they can quickly. Their ISO agent program is a top choice thanks to the company’s commitment to making it as easy as possible for agents to get merchants approved. . | NMI is a leading global payment enablement platform, processing more than $180 billion in payments annually. 2. This process prevents your company from having to apply for a MID, as you will be under the PayFac's master MID. Compare Moneris vs. Please login below to access your Merchant portal, NMI Partner portal, WebMIS control panel or USAePay console. As such, read on to discover how the PayFac model works, how to get the best out of it, and how your company can become a payment facilitator. The NMI platform has built-in payment facilitator (also known as pay-fac) enablement technology, enabling your merchants to launch within minutes by provisioning both the. PCI DSS 合规性涉及三个主要组成部分：. Essentially, a payfac is a company that allows its customers to accept electronic payments using their platform. Enabling businesses to outsource their payment processing, rather than constructing and maintaining their own. NMI 26,594 followers 3d Report this post. ISOs are companies that resell merchant services on behalf of payment processors, handling merchant acquisition and ongoing service. NMI arms itself for a tougher economy with acquisitions, partnerships Jan 03, 2023 Fears of a recession are looming. Payment facilitators act as a middle layer in the payments industry, bridging the gap between merchants who need to. A gateway may have standalone software which you connect to your processor(s). These payfac enablers generally do not focus on end. James shared his take on the stepping stones and. One pivotal player in this evolution is the payment facilitator—a concept that has reshaped the way businesses handle payments, making transactions accessible to businesses, smoother, and more efficient. Full-year 2022 GAAP Diluted EPS was $ (27. If there’s a chargeback, it. BlueSnap Payment Services Ltd. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. Another related business model is payfac enablement, fintechs that specialise in enabling software or other non-payment companies to become payment facilitators. 30 Transaction fee per agreement with merchant $9. With disruptors appearing everywhere in the payments ecosystem, staying ahead of the curve requires providing more than just merchant accounts and payment processing. When you’re using PayFac as a service, there are two different solution types available. Worldpay was one of the first processors to offer payfac extensibility. In 2018, the cruise port handled 250. It partners with an acquiring bank and receives a unique merchant identification number (MID). FBO accounts, on the other hand, allow for more customization but demand more from the company maintaining the account. Donor Impact Data Hub. Independent sales organizations are a key component of the overall payments ecosystem. One FTE is sufficient until $250M in processing volume, then you’d need to add more bodies. Exact Payments, a leader in embedded payment solutions for SaaS businesses, enables them to monetize payments with its turnkey PayFac as a Service solution. Often you don’t. 01274 649 893. Powerful payment solutions for businesses of all sizes. Call us on 01332 477 853. SwervePay. (3350 Ratings) The new standard in online payments. These devices are ideal for high-volume retail operations that need advanced features like signature capture and multimedia advertising displays. ISVs still rely on a simple referral model for monetizing payments. Compare the best Payment Facilitation (PayFac) platforms of 2023 for your business. Stand-alone payment gateways are becoming less popular. Stax Connect accelerates and radically simplifies the integration of an intelligent payments infrastructure so that software companies are able to go to market faster, monetize payments, and deliver the best end-to-end experience in their industry. Heartland Employee Self Service Login“As a PayFac built for enterprise health systems from the ground up, Patientco greatly simplifies implementation and ownership, offering Health Systems greater flexibility to respond to their. Also, it’s essential to mention that PayFac is a Mastercard model, while the one for Visa is a payment service provider. PayFac, which is short for Payment Facilitation, is still a relatively new concept. Settlement must be directly from the sponsor to the merchant. Global expansion. Payfac-as-a-service is a turn-key payment facilitation model in which an external company provides businesses with the necessary tools and infrastructure to accept electronic payments, such as credit and debit cards, ACH, and echecks. Payment processors work in the background, sitting between PayFac’s sub-merchants and the card networks. All ISOs are not the same, however. A white-label payfac, also known as payfac-as-a-service, is a business model in which a company uses a third-party payfac platform to offer payment processing services under its own brand name. Messages. PayFacs can also provide sub-merchants with a wide variety of value-added services from NMI’s app marketplace, improving the. This end-to-end online solution completely rids the payment process of a paper-trail. Those sub-merchants then no longer have. Proven payment technology helps businesses pay and get paid so they can focus on what matters most. Payment Facilitator (PayFac): 大商户模式，是商户而不是收单机构。Payfac可以对接一些子商户。 二、 收单费. Much like the great Oklahoma land rush of 1889, many acquirers are quietly staking their claim to new opportunities as processors increase their willingness to underwrite PayFacs. Generally, every credit. . Continuous Connectivity. Exact Payments, a leader in embedded payment solutions for SaaS businesses, enables them to monetize payments with its turnkey PayFac as a Service solution. Search. In Part 2, experts examine. One of the main advantages of market research outsourcing is the ability to access the most up-to-date consumer insights, sustainability market research tools, and technologies, giving your organization a significant competitive advantage. But the model bears some drawbacks for the diverse swath of companies. This ensures a more seamless payment experience for customers and greater. The strategic investment will enable a full suite of commerce experiences and engagement models for technology partners looking to. Gain a higher return on your investment with experts that guide a more productive payments program. 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. 916. Step 2: Segment your customers. 4. PayFac. PayFacs are also responsible for most, if not all of the underwriting required. BC Ferry: Washington - Bellingham - Victoria - British Columbia Travel and Adventure Vacations. In the past, software and payment were two entirely distinct processes. The bank may request more detailed KYC data. TINLEY PARK, IL —August 17th, 2020 – Payroc LLC and its affiliates (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today that their Canadian Integrated. Even within the payments industry, ISOs and the role they play are. With a. 6638. Find the top Payment Facilitation (PayFac) platforms in 2023 for your company. Patrick Cuff, Vice President, Government Relations at Fiserv; @BrianMasseMP. Discover how REPAY can help streamline your billing process and improve cash flow. 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. What ISOs Do. com. The PayFac must properly follow KYC practices and correctly assess the sub-merchants as all transactions can be aggregated under a single merchant ID. Embedded experiences that give you more user adoption and revenue. We handle billions of dollars every year for forward. Embedded Finance Series, Part 3. Start your full commerce journey Get started today. This is especially important—and potentially complex—for SaaS companies considering payfac-as-a-service. Moreover, NMI processes billions of dollars in payments yearly, making it one of the most significant gateways worldwide. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. a merchant to a bank, a PayFac owns the full client experience. Provision of digital audio and video content streaming services to. Payoneer vs. 6638. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. PayPal được thành lập vào năm 1998, có trụ sở tại San Jose, California, Hoa Kỳ. FBO Accounts. Become a Payfac Enabler - enabling software & payments companies, and banks to manage their payment’s operations in a payment facilitation model. You own the payment experience and are responsible for building out your sub-merchant’s experience. Provide the distance in miles, kilometers, or any other unit, and the result of the conversion will show up instantly. Restaurant-grade hardware takes on everyday spills, drops, and heat. By allowing submerchants to begin accepting electronic. NMI closes strategic Creditcall acquisition. You may likely serve a diverse array of customers, from large enterprises to individuals on “freemium” plans. It has a high level of customization and allows users to pay using many methods. ETA announced the selection of nine young professionals to participate in the 2022 ETA Young Payments Professionals (ETA YPP) Scholar Program. BlueSnap Payment Services (Ireland) Ltd. TINLEY PARK, IL —August 17th, 2020 – Payroc LLC and its affiliates (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today that their Canadian Integrated. Deal will enable ISOs, ISVs & VARs to service. 9% + 30¢. Media. What is a PayFac? A payment facilitator (PayFac) is a type of merchant acquirer that provides processing services to companies looking to accept card payments. Knowing your customers is the cornerstone of any successful business. 3. Global expansion. 5 miles: 100,000 nmi: 115,078 miles: 250,000 nmi: 287,695 miles: Related Units. These transactions are between Sub- Merchant and theirPayFac vs merchant of record vs master merchant vs sub-merchant. But to banks and merchants it means something very different. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. Discover flexible, scalable solutions that fuel your growth and transform the payments experience to delight your customers. NMI has also launched, FACe, facilitation enablement. It’s ideal for those in need of reliable credit card payment solutions. • Based on its financial performance so far, the issue is fully priced. 收单行收取费用，有时称为Merchant Discount Rate ， 该费用通常为每笔交易额的百分比。复杂之处在于，一般收单行收取的总交易费用可以分为多个不同部分，由. With 15 partner banks, 24/7 US. Certain platforms, like IRIS CRM, the industry’s leading payments CRM, also include private. An ISO, or independent sales organization, is a company that resells payment services to merchants on behalf of a payment processor or acquiring bank. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. But the cost and time investment involved means that any company considering the option should. payments world. tsys . Accelerate your growth with instant. Grow your revenue by offering more value to your merchants using NMI’s full commerce enablement platform. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. But, we see a rapid rise of the deployment of Payfac Lite operating models where thePayFac or payment facilitator model allows you to add a new revenue stream to the profit you get from selling your core product. Payment facilitation helps. The Evolution of the PayFac In the rapidly changing landscape of modern commerce, the way we pay has undergone a remarkable transformation. In this video, Natasha walks through how to set up your NMI payment gateway and highlights some important tools you can use to monitor. A sponsor may be a bank themselves or may be a bank authorized entity that. net; Merchant of Record Exact Payments is an expert in embedded payment solutions, enabling SaaS businesses to monetize payments through its turnkey PayFac-as-a-Service solution. TransLink is a user-friendly, online reporting system that helps you manage your merchant payment card business from any Internet-enabled device. NMI Integration. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. You have to add new sources of value to attract merchants and ISVs, retain existing customers and grow your revenue. NMI is a leading global payment enablement platform. FortisPay Doubles Down on Integrated Commerce Acquiring EpicPay and Change Merchant Solutions. August 02, 2022 08:30 AM Eastern Daylight Time. Full commerce is the future — we get you there now. Global expansion. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Turning the card, PayFac continues to generate strong growth, 27% for the quarter, as Greg will discuss, it's been a busy quarter of increasing penetration with existing ISVs, implementing new ISVs and building a strong pipeline, including three significant new opportunities which we are aggressively targeting. Spara pengar som företagare - skaffa kortterminal utan kortavgifter. Want to increase your revenue and business valuation? Trusted and Recognized by: "The platform is so flexible and layers on top of existing infrastructure if needed. Stripe is currently supported in 46 countries, with more to come. We have APIs for all business types, whatever your size or location and whether you take payments online or at point of sale. These rights to revoke, charge back, and obtain refund terminate if and when a settlement for the item received by the bank is or becomes final. com. 3 percent and 10 cents (interchange plus pricing plan) Your margin – 0. The Global Mission Work & Witness office at the Global Ministry Center was in contact with most of the users prior to the transition to assist them with setting up a new account with Nazarene Account. Electronic Transactions Association (ETA) @ElecTranAssoc. 6638. The payments industry is changing, and the emerging software space is driving the products and services offered across the ecosystem forward. ‘PayFac’ technology simplifies underwriting and onboarding merchants One key catalyst for online payment innovation was the introduction of the Payment Facilitator, or “PayFac,” in 2010. Nuvei vs. Gain competitive. com. You can build with our server-driven integration (US only), or with a platform-specific. Fueling growth for your software payments. . Find the highest rated Payment Facilitation (PayFac) platforms in Africa pricing, reviews, free demos, trials, and more. Naval Combat. 9997. The choice between a PayFac and a payment processor depends on your business needs, industry, and desired level of support. It’s used to provide payment processing services to their own merchant clients. We went straight to the source, giving your brand enhanced control, transparency, & reporting capabilities. 847. | NMI is a leading global payment enablement platform, processing more than $180 billion in payments annually. In essence, a PayFac is an agent for a payment processor, but a unique twist to the PayFac. A payfac is a type of payment aggregator, but it typically provides a more comprehensive suite of services. Stripe Connect is the fastest and easiest way to integrate payments into your platform or marketplace. 01274 649 893. Software platform with seamless integration to increase your speed to market. Victoria San Juan Cruises sails May through October between Bellingham,. Denver — August 8, 2022 – Infinicept, a leading provider of embedded payments software, today announced the launch of Infiniport, a single, open payment operations capability enabling clients to interface with any processor or alternative payment rail they. An MoR acts as a payment processing service that is essentially a reseller of the merchant’s goods or services, and a payfac assumes responsibility for establishing and managing the relationships that the merchant needs to start taking payments. We obsessively seek out elegant, composable abstractions that enable robust, scalable, flexible integrations. Embedded experiences that give you more user adoption and revenue. Whether you’re a software provider or a new ISO or PayFac, once you start offering payment acceptance to your customers, it’s crucial to understand. From 2003 through 2011, Adam ’ s role was focused on the development of larger and more complex eCommerce merchants, which remains one of. It also must be able to. But to banks and merchants it means something very different. Digital and Retail Banking. Payment Processing: BlueSnap is processor agnostic and provides integrations to all types of payment solutions from credit card payments, ACH, SEPA to wires. 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. See transactions broken down by card type, your average transaction amount, and much more. Compare NMI vs. A PayFac will smooth the path. Gain a higher return on your investment with experts that guide a more productive payments program. In the world of payment processing, the turn of the decade represented a massive transition for the industry. Thus, when a payment facilitator receives funds from an acquirer/processor for the purpose of distributing them to its sub-merchants. The city has a population of 91,867, and. Paysafe connects merchants and consumers around the world through seamless payment processing, digital wallet, and online cash solutions. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. A PayFac will smooth the path. Parties interested in joining the growing NMI team or learning about Matt and NMI’s unified commerce enablement platform are invited to meet at the upcoming Money20/20 conference being held at. (Lenexa, KS) NCMI. Exact Payments is an expert in embedded payment solutions, enabling SaaS businesses to monetize payments through its turnkey PayFac-as-a-Service solution. To put it another way, PIN input serves as an extra layer of protection. See our complete list of APIs. ”. 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. ·. net is owned by Visa. Usio, Inc. The core of their business is selling merchants payment services on behalf of payment processors. Thus, an ISO’s customers can access a wider range of processors, even if the onboarding experience is tedious. In response, many merchants plan to. 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. Solid Payments in 2023 by cost, reviews, features, integrations, deployment, target market, support options, trial offers, training options, years in business, region, and more using the chart below. Whether you're an ISO (independent sales organization), ISV (independent sales organization), PayFac (payment facilitator), Bank or anyone else in the industry, this whitepaper is a must-read if you’re looking to maximize your payment capabilities and build a strong partnership with your payments provider. , Herzliya, Israel. In fact, they broke the mSubscribe or log in to read the rest of this content. Embedded digital payments for businesses to pay and get paid. There’s also Cash App, Google Pay, Apple Pay and even Facebook Messenger. The main difference between the two entities is that one is a company that facilitates payments, and the other is a piece of software that integrates into a website or payment portal. This model gives the PayFac more control over approvals and merchant experiences, resulting in more revenues from payments than if the company simply resold payment services from a partner. Discover how REPAY can help streamline your billing process and improve cash flow. Payfac-as-a-service is a turn-key payment facilitation model in which an external company provides businesses with the necessary tools and infrastructure to accept electronic payments, such as credit and debit cards, ACH, and echecks. Businesses that process more than $80,000 in sales per month may qualify for discounted rates. Merchant of record vs. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. If you have a long or complicated checkout process, a fraction of customers will fall off. Discover Adyen issuing. Learn more. Types of merchant of recordA PayFac needs to process payments going both in and out to fund its sub-merchants. “A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. Payroc partners with NMI to provide a seamless payment experience for its ISVs, ISOs, and Payment Facilitators expanding to Canada. K. Complete ownership and control of your payments program. org. In a session on the ins and outs of starting a payfac at the second annual Payment Facilitator Day at Transact16 in April, Kevin Harris of RunSignUp said training people was more of a challenge than software concerns, and David Weiss of Yapstone shared the difficulties of international expansion. Authorize. Most payments providers that fill. Create new revenue. Enabling businesses to outsource their payment processing, rather than constructing and. Also known as a “PayFac” or merchant aggregator, a payment facilitator is a third party agent that contracts with an acquirer to THE ACQUIRER A Visa Client licensed to provide card acceptance services. Enabling businesses to outsource their payment processing, rather than constructing and maintaining their own. Compare price, features, and reviews of the software side-by-side to make the best choice for your business. Integrated per-transaction pricing means no setup fees or monthly fees. com. Talk to an expert. Leap Payments ISO Agent Program. Improve acquisition, usage and activation with instant money movement. PayFac clients want a fast and easy experience, from the moment they contact a PayFac for services, to the onboarding process, to the compliance checks after they have been onboarded. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. The program, sponsored by Discover Global Network, provides ETA YPP scholars with mentors from leading payments companies, complimentary access to ETA industry events, and. With TransLink, you don't have to imagine. The PayFac, he said, has emerged, and evolved from its 1990s underpinnings where merchant acquirers had handled that merchant enrollment, boarding, underwriting and even settlement. An ISO is a third-party company that refers merchants to acquiring banks or payment service providers. . Thinking about the three-to-five-year strategic plan — geographics expansion, adjacent services and products, and even new end customers — can help sharpen the focus on PayFac options, she said. About. A PayFac will fall in the middle of this spectrum, providing payment processing services using sub-merchant accounts. Former President of ProPay brings decades of experience working in PayFac as a Service and the wider payments industry.