Clover vs Square. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. S. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. When accepting payments online, companies generate payments from their customer’s debit and credit cards. A three-party scheme consists of three main parties. For example, an. ISO = Independent Sales Organization. However, the setup process might be complex and time consuming. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Owners of many software platforms face the need to embed. There’s not much disclosure on the ‘cost of sales’ (i. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Wider range of featuresA payment facilitator or payfac is a service provider that affords small and medium-sized merchants the means to process debit or credit card payments more quickly, efficiently, and securely, allowing them more room to focus on their core business objectives. The name of the MOR, which is not necessarily the name of the product seller, is specified by. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. Visa, Mastercard) around 2011 as a way for aggregators to provide more transparency into who their sub-merchants were. Depending on your processing volumes there are two different types of merchant accounts that you will qualify for, either a PSP and an ISO. In the U. Payment Processors are responsible for authorization, authentication, data security, settlement, clearing, and reporting services, while ISOs focus on sales, marketing, merchant support, customer service, and value-added services. An ISO, or independent sales organization, is a company that resells payment services to merchants on behalf of a payment processor or acquiring bank. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. A Payment Facilitator or Payfac is a service provider for merchants. The types of new entities an ordinary ISO can turn into include a PayFac, a wholesale ISO, a next-generation ISO, or a merchant services consultant. However, the setup process might be complex and time consuming. . By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. For example, an. No more, no less, and are typically a standalone service. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. When setting up your referral partner program, remember to set tangible marketing and sales goals and do so in a way that makes sense for your partner. PSP = Payment Service Provider. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Gross revenues grew considerably faster. PSP and ISO are the two types of merchant accounts. Payment Processors: 6 Key Differences. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. The customer views the Payfac as their payments provider. GETTRX absorbs the stress of fraud monitoring and compliance reporting while you focus on your business. Typically, it’s necessary to carry all. Difference #1: Merchant Accounts. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. In addition to serving as Payroc ’ s SVP Payfac Trusty,. However, the setup process might be complex and time consuming. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. For example, an. However, the setup process might be complex and time consuming. However, the setup process might be complex and time consuming. PayFac vs. You see. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Payfac is a contracted Independent Sales Organisation (ISO), so they have the responsibility to manage their own sales agents and underwriters and adhere to the rules of the card associations. As a result of the first two. With the payment facilitator or PayFac model, every user gets a sub-merchant ID. 5. One of the key differences between payment aggregators and payment facilitators is the size of sub-merchants they are servicing. PayFacs are generally. The merchant provides a few basic details to their PayFac provider. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. For example, an artisan. In this post, we break down the differences between a few of the most common routes you can take when it comes to integrated payment models: independent sales organization (ISO), full-fledged payment facilitator (PayFac), or PayFac-as-a-Service (PFaaS) models. Fortis also. For example, in an ISO relationship, you’re unable to customize the onboarding experience for your customers, but with managed payment facilitation, you can. facilitator is that the latter gives every merchant its own merchant ID within its system. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. For example, an. This allows faster onboarding and greater control over your user. Often, ISVs will operate as ISOs. For businesses, the difference between using payfac-as-a-service compared to becoming a payfac comes down to time, cost, and. However, the setup process might be complex and time consuming. Unlike PayFac technologies, ISO agreements must include a third-party bank to sponsor the contract. The types of new entities an ordinary ISO can turn into include a PayFac, a wholesale ISO, a next-generation ISO, or a merchant services consultant. PayFac vs. Traditionally, a business that wanted to accept card payments would need to set up a merchant account with a bank, which can be a complex and time. Under the PayFac model, each client is assigned a sub-merchant ID. Contracts. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. A Payment Facilitator or Payfac is a service provider for merchants. ,), a PayFac must create an account with a sponsor bank. Each ID is directly registered under the master merchant account of the payment facilitator. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Payfac = a software product, platform, or marketplace that has in integrated payments into its product, and is responsible for the risk of transactions processed by its customers. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. However, the setup process might be complex and time consuming. A PayFac is a processing service provider for ecommerce merchants. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. This means that a SaaS platform can accept payments on behalf of its users. Payfac’s immediate information and approval makes a difference to a merchant. For example, an artisan. For example, an. It works by using one umbrella merchant account that allows every merchant to open as a sub-account underneath it. However, the setup process might be complex and time consuming. When you want to accept payments online, you will need a merchant account from a Payfac. Examples. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. The Kiflo PRM vendor dashboard keeps partnership teams up-to-date on all partner activity. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. After the approval is true, I want to save the attachment to a specific folder in my OneDrive. However, the setup process might be complex and time consuming. All ISOs are not the same, however. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. The ISO acts as an intermediary between the merchant and the payment processor, taking care of merchant recruitment, sales, and ongoing merchant support, while the processor handles transactions behind the scenes. Digital payments like bankcards and mobile wallets can have significant positive impacts on small and medium businesses (SMBS) because they are cheaper to process than other payment types, enable increased marketing capability, and are preferred by consumers, a new study from ETA member Visa says. Below we break down the key benefits of the PayFac model for software. However, the setup process might be complex and time consuming. A Payment Aggregator or Facilitator [Payfac] can be thought of as being a Master Merchant-facilitating credit, debit card and ACH transactions for sub-clients within their payment ecosystem. ISO vs. A Payfac, or payment facilitator, is essentially a third-party payment system that allows businesses and organizations to receive and process online and in-store payments. , Concord, California (“Wells”). ISVs create software for companies in the payments industry. ISOs vs Payfacs. For example, an. It provides a technology, allowing to authorize transactions and, potentially, receive transaction settlement information. Segregated accounts are legally segregated from the firm's assets, meaning the company cannot use the funds stored to conduct business operations. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. However, the setup process might be complex and time consuming. However, the setup process might be complex and time consuming. When you swipe a credit card, transfer money, or make an online purchase, there’s an inherent belief that the system will handle these transactions efficiently and accurately. For example, an. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Both aggregators and facilitators offer similar benefits from the perspective of the end-user. Here are several benefits: As a hybrid PayFac, your company can handle client onboarding in minutes or hours instead of the usual 48-72-hour time-frame required for merchant account setup. To learn more about the differences between these payment models, see our blog: PayFac vs ISO: Weighing Your Payment Options. However, the setup process might be complex and time consuming. the scheme and interchange fees). The arrangement made life easier for merchants, acquirers, and PayFacs alike. Can an ISO survive without becoming a PayFac? Becoming a PayFac (i. Thus, it would arrange communication between both parties, the merchant and the acquiring bank. However, the setup process might be complex and time consuming. Besides that, a PayFac also. 3. Almost every bank nowadays has a department dealing with merchant services. Each client is the merchant of record for transactions. At the same time, more companies are implementing PayFac model and establishing PayFac payment gateway partnerships. ISO: An Independent Sales Organization (ISO) is a company that refers businesses that need to accept card payments to processors and acquiring banks. Payment processors do exactly what the name says. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. MSP = Member Service Provider. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. a merchant to a bank, a PayFac owns the full client experience. The underlying role that these fill for a business is to provide merchant services, and you can read our reviews of various merchant service providers here. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. A PayFac, or payment facilitator, was originally defined by Visa® and Mastercard® to describe the entity that is officially doing business with the card brands. Payment facilitators, aka PayFacs, are essentially mini payment processors. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. responsible for moving the client’s money. PayFac: ISO: Merchant onboarding timeline : Instant account approvals: Days or weeks : Sign-up process: Quick and easy. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. , May 26, 2021 /PRNewswire/ -- PayFac-as-a-Service startup Tilled today announced the close of $11 million in Series A funding to empower software companies. Payment facilitator model is suitable and effective in cases when the sub-merchant in question is a medium- or large-size business. So, revenues of PayFac payment platforms remain high. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. However, the setup process might be complex and time consuming. Payment facilitators have a registered and approved merchant account with the acquiring bank. The PSP in return offers commissions to the ISO. While the PayFac model comes with some unique risks, the benefits of additional control and potentially higher margins have seen its popularity grow among two major categories of operators:. However, the setup process might be complex and time consuming. The PayFac aggregates transactions and sends them to its processor, keeping operations streamlined. In essence, a PayFac is an agent for a payment processor, but a unique twist to the. One of the reasons for this phenomenon is that many companies (including former independent sales organizations (ISO)) find it more profitable to combine the functions of an online gateway provider and a merchant service provider (MSP). Stripe Terminal is fully compatible with Connect, enabling your platform or marketplace to accept in-person payments. Sub-merchants sign an agreement with the PayFac for payment. One of the main benefits to adopting the Payfac ® model is the increase in revenue you get from each transaction processed using your software. For example, an. For example, an. Call it the Amazon. However, the setup process might be complex and time consuming. However, the setup process might be complex and time consuming. In a similar manner, they offer merchants services to help make the selling process much more manageable. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. ”. ISOs rely mainly on residuals, a percentage of each. PayFacs are businesses that resell merchant services on behalf of a payment processor, lightening the processor’s load and earning a slice of every transaction fee – known as a residual – in the process. However, the setup process might be complex and time consuming. Typically, the ISO stays out of the contract between the two and instead focuses on the relationship with the payment processor. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. One of the most significant differences between Payfacs and ISOs is the flow of funds. Typically, the ISO stays out of the contract between the two and instead focuses on the relationship with the payment processor. Payfac and payfac-as-a-service are related but distinct concepts. However, the setup process might be complex and time consuming. 4. Stripe. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. Payment Facilitators vs. Independent sales organizations (ISOs) and payment facilitators (PayFacs) both act as intermediaries between merchants and payment processors, making them parallel channels in the overall payments ecosystem. For example, an. On. No matter what your size, we can help enhance your business with streamlined, intuitive payment options for your customers, backed by a suite of payment tools to help you: Streamline billing and. Exact handles the heavy. For example, an artisan. Avoiding The ‘Knee Jerk’. A merchant of record is an entity that accepts cardholders’ payments and assumes liability for processing of these payments on the merchant’s behalf. ISO vs. For example, an artisan. (PayFac) Receives: $3. Unlike PayFac technologies, ISO agreements must include a third-party bank to sponsor the contract. By Ellen Cibula Updated on April 16, 2023. For example, an. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Make onboarding a smooth experience. To ensure maximum relevancy, the logical structural models, assets, threats and security objectives in this document are based. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. ISO: An Independent Sales Organization (ISO) is a company that refers businesses that need to accept card payments to processors and acquiring banks. Both offer ways for businesses to bring payments in-house, but the similarities end there. The Payment Aggregator can quickly onboard a new merchant (typically a user of the SaaS offering) and they can begin. Independent sales organizations (ISOs) and payment facilitators (PayFacs) both act as intermediaries between merchants and payment processors, making them parallel channels in the overall payments ecosystem. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Square, Stripe, PayPal, AirBnB and Uber are well-known examples of PayFacs. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. For example, an. A PSP, on the other hand, charges a variable fee in addition to the fixed fee. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. Buy: Becoming a Payment Facilitator Versus PayFac-as-a-ServiceOne of the main benefits to adopting the Payfac ® model is the increase in revenue you get from each transaction processed using your software. There are pros and cons to the PayFac and ISO model depending on the size and specific requirements of your business. However, there are instances where discrepancies arise. The PayFac model allows a single entity to become the “merchant of record” and board sub-merchants with fewer data requirements and scrutiny. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. In this article we are going to explain why payment facilitator model is becoming so popular (attracting more and more entities) while ISO model is gradually dying out, vacating the space for new payment facilitators. Table of Contents Visa Global Acquirer Risk Standards: Visa Supplemental Requirements vi Visa Public 1 October 2018 Notice: This is VISA PUBLIC information. 1. Payfac and payfac-as-a-service are related but distinct concepts. The payment facilitator, or “PayFac”, model of merchant acquiring is growing extremely rapidly. For example, an artisan. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. 3. What is a card ISO? An ISO (independent sales organization) is a term Visa uses to refer to a person or organization that isn’t a Credit Card Association (i. If you use direct charges, all Terminal API objects belong. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. Also, unlike an ISO, the PayFac provides the processing services, settlement of funds, and billing to the merchant. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. In the PayFac model, banks that monitor PayFacs are called Acquiring Banks. However, the setup process might be complex and time consuming. A payfac is a type of payment aggregator, but it typically provides a more comprehensive suite of services. Take Uber as an example. This includes underwriting, level 1 PCI compliance requirements,. What’s the Difference Between a Payment Facilitator, a Payment Processor, and an Independent Sales Organization (ISO) At a glance, a facilitator, a processor, and an ISO may seem to be similar, but the differences are notable. Payfac: A payfac operates under a master merchant account and creates subaccounts for each business it services. April 12, 2021. However, the setup process might be complex and time consuming. This means that there is no need for any charges between the issuer and the acquirer. In general, if you process less than one million. However, the setup process might be complex and time consuming. July 12, 2023. However, the setup process might be complex and time consuming. For example, an. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. In fact, ISOs don’t even need to be a part of the merchant’s contract. To become a Mastercard merchant, simply contact an acquirer for a merchant account application. Massive technological leaps have made it easier than ever for software providers to explore new opportunities and expand their offering, such as becoming a PayFac as a service. Very rarely, said Mielke, do ISVs win with the “knee-jerk reaction of becoming a PayFac and capturing those additional revenues. In 2021, global payment facilitators processed over $500 billion in transactions – a 75% increase over the previous year. However, the setup process might be complex and time consuming. Stripe By The Numbers. For example, an. becoming a payfac. com explains everything you need to know. ISOs rely mainly on residuals, a percentage of each merchant transaction. It is when a business is set up as a primary merchant account and provides payment processing to its sub-merchants. In other words, ISOs function primarily as middlemen. However,. To fully understand the benefits of the payment facilitator model, it’s important to first take a look at what goes into creating a standard payment processing agreement. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Get notified when Stripe Reader S700 is available in your country. Before offering customers payment methods from popular card networks (Visa, Mastercard, etc. The most known examples are website-building companies which can provide integrated payment options, meaning ecommerce customers will see their experience improved as they will no longer need to actively look for third-party payment solutions. becoming a payfac. And this is, probably, the main difference between an ISV and a PayFac. GETTRX’s Zero and Flat Rate packages offer transparent billing, competitive rates, and industry-leading customer service, making them ideal choices for businesses seeking a seamless payment experience. An ISO (Independent Sales Organization) is similar to a PayFac in a lot of ways. Second, because residuals are earned on. The PayFac does not have to underwrite all merchants upfront — they are instead, underwriting the merchants essentially as they continue to process transactions for them on an ongoing basis. Now let’s dig a little more into the details. Strategies. Cutting-edge payment technology: Extensive. You could also work with an existing ISO and get a buy rate, then make X over that Buyrate but you wouldn’t be able to be in the agreement or have any access to claim the discount or. Massive technological leaps have made it easier than ever for software. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. For example, in an ISO relationship, you’re unable to customize the onboarding experience for your customers, but with managed payment facilitation, you can. . Payfac-as-a-service vs. ISO. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. In simple terms, the MOR is the name that the customer (cardholder) sees on the receipt. Next-generation ISO (or next-gen ISO) is a. Payfac and payfac-as-a-service are related but distinct concepts. Research firm Statista estimates payfac transaction volume totaled $88 billion last year,. PayFacs take care of merchant onboarding and subsequent funding. Merchant accounts for credit card processing are used by businesses to accept credit cards and there are different models. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. The payment facilitator model was created by the card networks (i. Can an ISO survive without becoming a PayFac? Becoming a PayFac (i. 4. However, the setup process might be complex and time consuming. Depending on your processing volumes there are two different types of merchant accounts that you will qualify for, either a PSP and an ISO. Merchants get underwritten more efficiently, while acquirers are relieved of some merchant services, delegated to PayFacs for a reward. Principal vs. Explore. PayFacs perform a wider range of tasks than ISOs. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. They offer merchants a variety of services, including. With the payment facilitator or PayFac model, every user gets a sub-merchant ID. Traditional Merchant Account vs. However, the setup process might be complex and time consuming. PayFac Solution Types. A payment facilitator (or payfac) is the owner of a master merchant identification number who registers merchants as sub-merchants and enables their payment acceptance. For example, an. Stripe was founded in 2010 by two Irish siblings: then 22-year-old Patrick Collison and younger brother John, 20, positioning itself as the builder of economic infrastructure for the internet — launching their payfac flagship product in 2011. To learn more about the differences between these payment models, see our blog: PayFac vs ISO: Weighing Your Payment Options. ) The PayFac takes on merchants as its own contracted “sub-merchants,” which process their transactions through the master merchant account. This allows faster onboarding and greater control over your user. When the form is submitted I am using a flow to generate an approval, this works as expected. For example, an artisan. An ISO (Independent Sales Organization) is similar to a PayFac in a lot of ways. For example, an. Learn more: PayFac vs ISO: which one to choose for your business? Benefits of becoming a PayFac. (ii)during any period of two consecutive years, individuals who at the beginning of such period constitute the board of directors of the Company (the “Board”) and any new directors whose election by the Board or nomination for election by the Company’s stockholders was approved by at least two-thirds of the directors then still in office who either were. A payfac has a much more flexible payment system and a wider variety of payment methods, so much so that it can be carried out through the linked bank account. ISOs play an important role in the payment process, but many people aren’t sure what they are. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. In almost every case the Payments are sent to the Merchant directly from the PSP. When accepting payments online, companies generate payments from their customer’s debit and credit cards. July 12, 2023. All in all, the payment facilitator has the master merchant account (MID). This solution includes hosted payment pages; one-time, subscription, and one-click billing solutions; risk management; affiliate tools, and end-user customer support. However, the setup process might be complex and time consuming. Read More. However, the setup process might be complex and time consuming. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Payfac: What’s the difference?. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. In order to provide a plausible explanation, we need to understand the evolution of the merchant services industry. So how much. ISOs are an exceptionally important part of the payments ecosystem, serving a critical role that supports both their processing partners and their merchants. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. . Depending on your processing volumes there are two different types of merchant accounts that you will qualify for, either a PSP and an ISO. Even better? Funds are settled to the PayFac’s account and it’s determined by the PayFac to move those funds to the merchant. Lower. Each ID is directly registered under the master merchant account of the payment facilitator. ISO vs. debit card account, including non-Mastercard debit cards. This relatively new payfac business model is experiencing rapid growth. For example, an. One classic example of a payment facilitator is Square. Fortis manages everything for you – underwriting, fraud monitoring, funding, gateway reporting, and chargeback management. However, the setup process might be complex and time consuming. As a result, PayFac or ISO must accept a higher level of accountability, which in the case of PayFacs maybe 100%. PayFac vs. These companies include owners of SaaS platforms, franchisors, ISO, marketplaces, and venture capital firms. Like payment facilitators, ISOs serve as intermediaries to provide merchants with access to the payments system on behalf of their acquiring bank partners, often serving specific markets with solutions tailored to their needs. When you want to accept payments online, you will need a merchant account from a Payfac. Payfac is a type of payment facilitator, while ISO stands for Independent Sales Organization. This is because the per-transaction payment processing rates are typically better for merchant accounts—as opposed to sub-merchant accounts. Nexio is a registered ISO/MSP of Merrick Bank, South Jordan, UT. By setting up its own merchant account via an ISO, the retailer can negotiate specific terms and rates, potentially saving money in the long run. Processor relationships. Click here to learn more. PSPs facilitate payments and act as a proverbial middleman between you and the merchant. La respuesta corta; es un proveedor de servicios de pago para comerciantes. Find a payment facilitator registered with Mastercard. However, the setup process might be complex and time consuming. PayFac: How the Two Most Common Types of Payment Intermediaries Differ April 12, 2021. But for this purpose, it needs to build a strong relationship with an acquirer that will underwrite it as a PayFac.