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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

A company releases its API to the public so that software developers can design products that are powered by its service. Integrated software vendor (ISV) A company specializing in developing or selling software that runs on one or more operating systems; ISVs often embed payment technology into point-of-sale systems for merchants.