Remove Banking Remove Marketplace as a Service Remove Stax Remove Trends
article thumbnail

Understanding Risk Management Strategies as a PayFac

Stax

They would then request a chargeback from their bank instead of requesting a refund from the seller—which essentially constitutes friendly fraud. Reputational risks Risks associated with things like data breaches, poor customer service, company controversies, etc. Most PayFacs have technology in place to prevent these breaches.

article thumbnail

What Is an ACH Payment Facilitator?

Stax

Automated Clearing House (ACH) payments are a type of electronic bank-to-bank payment system in the US. An ACH payment facilitator, therefore, is simply a PayFac that allows users to accept payments through an electronic bank-to-bank network. This is pretty much similar to the service that PayPal offers.