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The number of Payment Facilitators (PayFacs) has grown 13.8% This shows how fast this model is growing. For businesses, this means they can use payment systems without starting from scratch. PayFac as a Service lets companies add payment processing to their platforms. each year since 2018.
At a very high level, a referral partnership is an integrated paymentsmodel. You as the software company make an agreement with a payment processor to become one of their referral partner s. We will explore the risk s in more detail in the next section. What is PayFac-as-a-Service?
Examples of a master merchant Across a variety of industries and payment presentment environments, the master merchant drives payment facilitation for a group of sub-merchants. The master merchant model is common in industries that involve marketplaces or platforms with multiple sellers or service providers.
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