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You’re here because someone—maybe your CEO, maybe your investor, maybe your gut—told you that owning payments could be a game-changer for your platform. But here’s the part that gets glossed over: how you own payments matters. Should you become a full PaymentFacilitator (PayFac)? They’re right. You take the risk.
The embedded finance market—including Payfac-as-a-Service—is projected to exceed $7 trillion in global transaction volume by 2030. I f you’re running a SaaS platform, marketplace, or digital-first business, you’ve probably already bumped into the complexities of paymentprocessing. The compliance.
Becoming your own PaymentFacilitator (PayFac) sounds greatuntil you realize its a regulatory nightmare , a financial black hole , and takes longer than your last DIY home improvement project (which, lets be honest, is still unfinished). So, which fintechs offer the best PayFac-as-a-Service? Lets break it down.
What is a payment processor? A payment processor facilitates the flow of transactions typically made with credit cards, debit cards, and other digital payments. The processor is responsible for processing and settling the transactions initiated by the paymentfacilitatorsmerchants, but they can also offer so much more.
If youre a software provider looking to boost revenue, streamline operations, and deliver more value to your users, ISV integrated payments can be a game-changer. Embedding payments directly into your platform can unlock tremendous benefits both for you and your users. The best part?
Announces Partnership with Usio as Preferred Payment Integration Partner for USA Customers Chattanooga, Tennessee – 17 June 2024 – ues.io, the leading no-code/pro-code platform for building enterprise applications with AI, today announced a strategic partnership with Usio , a trusted leader in integrated payment solutions.
Before we dive into the risks associated with payments, let’s review why embedding payments is good for SaaS businesses and the three paymentprocessing solutions available to software companies today. What are the benefits of adding payments to vertical software? What is a PayFac® developer?
What is a payment processor? A payment processor facilitates the flow of transactions typically made with credit cards, debit cards, and other digital payments. The processor is responsible for processing and settling the transactions initiated by the paymentfacilitatorsmerchants, but they can also offer so much more.
What is a master merchant? A master merchant, often referred to as a paymentfacilitator or merchant aggregator, is a third-party agent that acts as the link between acquirers and online merchants. Whats the relevance of a master merchant in software-led payments and financial services?
Imagine cutting years off payment system setup. The number of PaymentFacilitators (PayFacs) has grown 13.8% For businesses, this means they can use payment systems without starting from scratch. PayFac as a Service lets companies add paymentprocessing to their platforms.
Ever sat through a payments meeting and wondered if you accidentally joined a secret society that only speaks in acronyms? Between PFaaS, NACHA, and VPA, the payments industry has more abbreviations than a teenagers group chat. You’re not alone. Some you’ll recognize. Some you’ll want to forget.
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