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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. This makes onboarding much faster, often in just hours.

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Glossary: 117 software-led payments terms to know

Payrix

Payment facilitator (PayFac) A merchant registered by an acquirer to facilitate transactions on behalf of sub-merchants. They underwrite and onboard the sub-merchants and provide them with the products and services required to process electronic payments. eCheck, PayPal, etc.)