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PayFac as a Service: What Is It and How to Offer It

Natalia Luneva

The number of Payment Facilitators (PayFacs) has grown 13.8% PayFac as a Service lets companies add payment processing to their platforms. Key Takeaways PayFac as a Service reduces PayFac setup time from years to days, slashing costs by millions. each year since 2018. This is up from $32 billion in 2023.

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Glossary: 117 software-led payments terms to know

Payrix

Terms related to card acceptance Acceptance marks Signifies which payment brands are accepted at a merchant location and provides the cardholder with information on where his or her card can be used. Chargeback reduction service Screens presentments and chargebacks and returns certain invalid items to the acquirer or issuer, as appropriate.