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Payment Facilitator vs Payment Gateway: Key Differences and Similarities

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Consider the following: Merchants are the sellers, businesses, or service providers seeking payment for their offerings. It’s important to note that a PayFac may have its own in-house payment processing and even payment gateway software platforms for their partners to use. What is a Payment Gateway?

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Understanding Risk Management Strategies as a PayFac

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Learn More Mitigating Risks as a PayFac: Key Risk Categories As you may already know, as a payment facilitator, you can enable your software users (or sub-merchants ) to accept payments through your SaaS platform—without having to use a third-party payment gateway or provider. Most PayFacs have technology in place to prevent these breaches.

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The 7 Best Mobile POS Systems for Small Businesses in 2024

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Today, they’re known for their robust services, enhanced security, user-friendly interfaces, and the integration of advanced data analytics. Regular POS software updates and security patches are important to protect against new threats. Hardware costs PayPal Zettle can be used with just their software or a card reader for $29.

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Vertical SaaS vs Horizontal SaaS: 8 Differences and Similarities

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Software as a Service (SaaS) has made business software more accessible by offering cloud-based, on-demand access to a range of solutions, from project management and collaboration to sales and marketing. What is Vertical SaaS? What is Horizontal SaaS?

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What Is an ACH Payment Facilitator?

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TL;DR A payment facilitator (PayFac) is essentially a SaaS vendor or software provider that enables its users (businesses) to accept online payments from their customers through the platform itself. PayFacs typically partner with a payment processor or a bank to provide merchant services. Let’s get started.

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How Much Do Credit Card Companies Charge Merchants?

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As well as improving profit margins, these activities can also enhance the customer experience and give merchants a competitive advantage in the marketplace. The exact rate can vary based on several factors, including the type of card used (debit or credit), the card brand (Visa, MasterCard, etc.),