Understanding Risk Management Strategies as a PayFac
Stax
JANUARY 8, 2024
Several US legislations (like the Patriot Act, anti money laundering laws , or FinCEN regulations) require PayFacs to know the identities of the business owner(s) they plan to facilitate payments for, during the underwriting stage. Even the organizational shake-up that comes with the decision to become a PayFac may disrupt your core business.
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