Advancing the way the world pays, banks and invests™. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be necessary. The funds debited from the PayFac Operating account is the total of Interchange + chargebacks + assessments and Worldpay or RNPLLC fees for Payment Facilitators processing on the eCommerce. Our partners are consultants, payment processors, card networks, banks, and other providers who offer a variety of services and expertise to solve complex customer needs. Advancing the way the world pays. responsible for moving the client’s money. Partner Connect is an all-in-one solution for Payment facilitators, offering instant onboarding, automated funding and white-labeled reporting. • start operating. Gateway transforming to PayFac (Payment Facilitator) by Merchant Onboarding, Underwriting, Compliance (KYB, AML) and claiming a larger share. Experienced (relevant combo. jobs at. And acquiring banks, particularly the larger ones, sometimes offer payment processing services to their merchant clients. That Payfac has a higher probability of encountering identify theft and other fraud risks during underwriting than a Payfac serving a particular vertical, she said. The PayFac manages regulatory compliance, merchant onboarding, funding to bank accounts, and more on behalf of sub-merchants. Payfac-as-a-service is a turn-key payment facilitation model in which an external company provides businesses with the necessary tools and infrastructure to accept electronic payments, such as credit and debit cards, ACH, and eCheques. By Michael Bradley, Senior Vice President of Growth, Infinicept The embedded payments conversation right now is downright confusing. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. eComm PayFac API Reference Guide Document Version: 3. After the vetting process, the PayFac entity adds the sub-merchant to its master list of sub-merchants or customers. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionPayment facilitators often take advantage of technology to streamline this process, making a seller’s path to accepting payments much faster. Houston, Texas, United States Client Relations Account Manager II - PayFac Developers. Thus, an ISO’s customers can access a wider range of processors, even if the onboarding experience is tedious. The PayFac uses an underwriting tool to check the features. 52. The world of payment processing has its fair share of acronyms, and two of the most popular are PayFac (Payment Facilitator) and ISO (Independent Sales Organization). Each tier offers more in-depth information and/or analysis. Talk to an expert. But of course, there is also cost involved. 10, 2022 /PRNewswire/ -- Finix, the payments technology company for software. S. Our suite of tools and services offers a choice of funding options, settlement, revenue generation, and risk management capabilities for payment facilitators. , February 13, 2023--FIS® (NYSE:FIS), a global leader in financial services technology, today reported its fourth quarter and full-year 2022 results. Atlanta, GA — February 15, 2022 — Embedded fintech leader Payrix today announced it has been acquired by financial technology leader FIS® (NYSE: FIS). Fidelity National Information Servcs Inc. worldpay . If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be. A payment facilitator is a company that allows their customers to accept electronic payments using the payment facilitator’s infrastructure. This is known as frictionless underwriting. 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. It offers a system capable of processing payments, providing multiple means for completing a transaction, such as credit cards, debit, e-wallets, instant transfers, bank transfers, and cash in one. Table 2 lists the timing of money movement to the PayFac FBO Settlement account for each payment type with respect to the activity day. Seamless graduation to a full payment facilitator. Excluding the impact of a large PayFac client, global volume increased 3% on a reported basis and 6% on a constant currency basis, US volume increased 5%, and transactions increased 3% as compared to the prior-year period. Table 3 shows the timing of Funding Instruction delivery. The PayFac Fee reports is a Managed Payout report containing financial data for fees assessed to Sub-merchants enabled for Sub-merchant Funding. 3y. Gain a higher return on your investment with experts that guide a more productive payments program. com 208. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. 65. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionFinix is now a registered payment facilitator (payfac). Public Sector Support. In this way, the merchant is protected from losing their money if the payfac goes out of business for some reason. g. Payfac Submerchant Boarding . ©2021 FIS. PayFac Tax ID Mismatch Report - contains data about Legal Entity Tax Identification Numbers validation. Increased revenue 3% on a GAAP basis and 5% on an organic basis to $3. On top of the requirements placed on it by other entities, the Payfac may choose to be even more restrictive, for risk mitigation or other business reasons. Sponsoring payment facilitators allows you to increase your customer base and expand into new markets. He guided Shopify as it grew from 50 to more than 3,000 employees, helped the company go public in 2015, and worked with Infinicept to make Shopify a. Click on a link in the table to navigate to the desired screen. FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. 13 Payfac jobs available on Indeed. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Happy to chat and brainstorm strategies. Returned $1. Flexible work from home policy. Global expansion If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be necessary. Fourth quarter GAAP Diluted EPS was $ (29. Payment facilitation, or “payfac,” continues to grow in popularity among software providers and is designed to facilitate payment card acceptance without requiring individual merchants to go through the lengthy process of establishing traditional merchant accounts. Take Uber as an example. com or 888-829-1907. Processing Platform Features. An example would be a SaaS platform that provides plumbers and home service providers an application that help them. was provided. The former CFO at Shopify, Jones is a seasoned financial and business leader with nearly 40 years of experience. Please contact your Fortis representative with any questions. So, what should new sponsor banks consider? First, the bank must determine the type of payment facilitator business models it plans to support, says Dan Spalinger, VP of Global Advisory Services for Infinicept. According to their. Reconciliation Report. Once a sub-merchant has been through the onboarding process it is down to the PayFac to control payments adhering to the rules. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. Actively Hiring +4 benefits. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionStrategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS GlobalStrategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS Global careers. (NYSE:NYSE:FIS) Q1 2023 Results Conference Call April 27, 2023 8:00 AM ETCompany ParticipantsGeorge Mihalos -. So naturally, any company. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. This report only applies to legal entities that have a sub-merchant funded through the Worldpay, and is produced daily. Integrate within a few days, onboard your merchants, accept payments and issue payouts. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. In this way, the merchant is protected from losing their money if the payfac goes out of business for some reason. Establish connectivity to the acquirer’s systems. Instruction Search enables Payment Facilitators using Dynamic Payout to find information on sub-merchant funding instructions processed by Worldpay, including credits and debits for Payment Facilitator, sub-merchant, reserve, and vendor (credit only) accounts. Our suite of tools and services offers a choice of funding. Mitigate risk, ensure compliant procedures, and employ best practice processes in your payments business. 28), and fourth quarter Adjusted EPS decreased 11% to $1. An amazing team dedicated to both the company’s mission and your success! Join us at Infinicept: A fast. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. 71. As an added benefit, Partner Connect automates all. 10AM ET. Get the ultimate PayFac experience with the tools you need to onboard sub-merchants, collect payments on your schedule and reduce risk. We give you all of the tools you need for a successful payment facilitator program. Select Fee Profiles. FIS: Founded in 1968, this financial technology company facilitates the movement of roughly $9 trillion annually and is one of the main connections between issuing banks and the card networks. eComm PayFac API Reference Guide Document Version: 3. Full-year 2022 GAAP Diluted EPS was $ (27. Learn how #WorldpayforPlatforms is helping SaaS property management platform, ResMan, take up residence as a #PayFac…No two payments journeys are the same. What’s more, banks in the U. We would like to show you a description here but the site won’t allow us. Access e-Login using your SSO login and passwordRenew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. The PayFac Portal is a user interface that allows payment facilitators to easily add, edit, view, and search for legal entities and sub-merchants. Call me on my cell at 904-571-5480, email Andrew. A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. Are processing any amount in total payments volume (TPV)—from $0 to over $1B. 01274 649 893. A PayFac-as-a-Service model can be a significant driver for increasing a software company's valuation. It also needs a connection to a platform to process its submerchants’ transactions. A relationship with an acquirer will provide much of what a Payfac needs to operate. Strategic Partnership Manager - PayFac. 54. Excluding the impact of a large PayFac client, global volume increased 4% on a reported basis and 8% on a constant currency basis, US volume increased 7%, and transactions increased 3% as compared to the prior-year period. Payment facilitators control the onboarding process for their customers – referred. Full time. Posting id: 724978407. Strategic Partnership Manager - PayFac. Each report contains data for the prior month. PayFac Portal Operations;The PayFac, he said, has emerged, and evolved from its 1990s underpinnings where merchant acquirers had handled that merchant enrollment, boarding, underwriting and even settlement. Email. . • A MID (Master ID) account is granted to the business after successful registration as a Payfac. Humanity Cincinnati, OH. Knowing your customers is the cornerstone of any successful business. Onboarding workflow. :; Who we serve. All information whether text or graphics, contained in this manual is confidential and proprietary in formation of FIS and is pr ovided to you solely for the purpose of assisting you in using a FIS product. Choose a sponsoring acquirer and register with them as a Payfac. Solution: There are options to become a Payfac that don't require huge capital expenditures, such as leveraging solutions like Infinicept to do things. Merchant Operating Instructions. Excluding the impact of a large PayFac client, global volume increased 3% on a reported basis and 6% on a constant currency basis, US volume increased 5%, and transactions increased 3% as compared to the prior-year period. In 2018, payment. November 3, 2022. • Worldpay eComm PayFac API Reference GuideThe road to becoming a payments facilitator, according to WePay founder Rich Aberman, is long, expensive and technologically complex. 28), and fourth quarter Adjusted EPS decreased 11% to $1. Strategic Partnership Manager - PayFac job. If you have additional questions or need clarification of any answers contained in this document, please contact your Worldpay. Please follow Worldpay and FIS. Available Balance. Customizable Merchant Applications. . A PayFac collects minimal data up front and supplements it with other real-time data to get merchants up and running, literally, in minutes. Accept hundreds of currencies and payment methods including online, mobile, point-of-sale, subscriptions, billing and invoicing at scale. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. We power more registered PayFacs and PayFac as a a service companies than anyone else #worldpayforplatforms #payfac Payrix Why Visa Says PayFacs Will Reshape Payments in 2023Embedded Finance Series, Part 3. • Worldpay eComm PayFac Portal User GuideOne of the main benefits to adopting the Payfac ® model is the increase in revenue you get from each transaction processed using your software. FinTech platform FIS has acquired embedded payment company Payrix to boost its eCommerce offerings to companies of all sizes in any industry through embedded payments via Software-as-a-Service. Become a PayFac: the ISV becomes a PayFac by acquiring and aggregating payments for its submechants. ©2022 FIS. Enabling businesses to outsource their payment processing, rather than constructing and. It also must be able to. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. The trusted and secure way to make state income tax return payments with your credit card for a low fee. Also, it’s essential to mention that PayFac is a Mastercard model, while the one for Visa is a payment service provider. , February 13, 2023--FIS® (NYSE:FIS), a global leader in financial services technology, today reported its fourth quarter and full-year 2022 results. Then the PayFac needs to build a number of other tools or go through compliance processes, like becoming PCI Level 2 certified, but as soon as they. Shows the real-time balance of all PayFac accounts as of the date/time generated. Adyen was a Payfac of Vantiv in the US) before eventually acquiring the scale, a good word-of-mouth reputation / customer confidence and all the necessary clearances / licenses to become a full-fledged integrated acquirer and processor in the majority of its. Advancing the way. Instead of taking basis points on a transaction, which is the classic dumb-dumb payments mindset, the SaaS model gets them an ~8x revenue multiple. Adyen was a Payfac of Vantiv in the US) before eventually acquiring the scale, a good word-of-mouth reputation / customer confidence and all the necessary clearances / licenses to become a full-fledged integrated acquirer and processor in the majority of its. Logging in and Logging Out. S. Cardstream Group, which operates Europe’s fastest growing independent white label Payment Gateway, has announced the arrival of its significant new white label PayFac-as-a-Service to the market. Here’s what you’ll experience when you partner with FIS: The stakes are high in financial services. PayFac Tax ID Validation Report. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. Learn more Crossover to crypto. Gretchen provides strategic advisory across the payments ecosystem. November 3, 2022 at 7:00 AM EDT. Merchant Operating Instructions. Before you begin the testing phase, your assigned Implementation ConsultantThe PayFac model thrives on its integration capabilities, namely with larger systems. Returned $1. 3 billion of capital to shareholders. ; For now, it seems that PayFacs have. Code Connect: FIS Code Connect is an API Marketplace or API Gateway, which provides one-stop access to all APIs across FIS. Put our half century of payment expertise to work for you. Full-year 2022 GAAP Diluted EPS was $ (27. 74. 3. PayFac Portal Overview. Net earnings attributable to common stockholders were $249 million or $0. WELCOME to the FIS Developer Community. For example, if the opportunity to spend time on getting a better deal from your acquirer is compared with a project to increase Volume on Payfac, this model indicates that the. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. The PayFac uses their connections to connect their submerchants to payment processors. Experienced (relevant combo. For your specific needs, explore our you-tailored solutions. Leverage. This dashboard eliminates the need to access multiple reports: the pertinent information from the Activity Report, Settlement Report, and. The tool approves or declines the application is real-time. Private Sector Support. PayFacs are also responsible for most, if not all of the underwriting required. PayFac is a way for software applications to. They use the PayFac’s merchant account to process their transactions, and they pay a fee to the PayFac for this. Get in touch for a free detailed ROI Analysis and Demo. 127. Choose a sponsoring acquirer and register with them as a Payfac. To the extent that a Payment Facilitator wishes to identify and review every unmatched refund it has that capability. Uber corporate is the merchant of record. Logging in and Logging Out; Using the PayFac Portal. Carat is the Fiserv omnichannel commerce ecosystem that delivers unlimited global payment opportunities across any channel. From development to operations, our experts perform all the heavy lifting, so you can start monetizing. Client Relations Account Manager, Senior - PayFac Developers FIS Feb 2022 - Present 1 year 9 months. 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. (NYSE: FIS) through recently acquired payment company Payrix and JPMorgan Chase & Co. Advancing the. FIS solutions. PayFac is a way for software applications to. 68), and full-year 2022 Adjusted EPS increased 2% to $6. PayFac-as-a-Service (PFAAS) combines easy-to-integrate payment technology, full-service offerings, and transparent pricing to deliver Independent Software Vendors a simple way to harness the full power of payment facilitation – minus. "We delivered fourth quarter. FIS/WorldPay Payfac. Logging in and Logging Out. The Reconciliation report view of the PayFac Reconciliation Dashboard provides an overall summary for the Payment Facilitator in the top summary panel, and summaries in the form of tabs. Dynamic Payout Held Funding Instructions Report (U. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an. Announces first quarter and full-year 2023 outlook. Code Connect offers many API products for Modern Banking Platform in its API catalog. Stripe and Square are two examples of well-known PayFacs that are incredibly popular with business owners in a wide variety of industries. We would like to show you a description here but the site won’t allow us. 4. The growth in the number of payfacs, and in the payment volume passing through them, is reshaping key relationships within the payments ecosystem. The Account Summary report displays as shown below. Webinar Recap: Deconstructing the Myths About the Payfac Model – March 2023 Webinar Recap: Deconstructing the Myths of Becoming a Payfac – December 2022 Webinar Recap: Underwriting & Risk 101 – November 2022A solution built for speed. 4% compound annual growth rate. Global expansion. After clicking the Search button, the results panel appears below the Instruction Search. Yes. 52 per common. Form IL 1040ES. With our solution, you can: Partner Connect enables you to instantly onboard your customers through an API and create customer accounts in minutes. Technology company to Acquirer. With an 11 year career in electronic payments and a lifetime passion for all facets of technology, Aaron was excited to join this rapidly growing company to focus on delivering a world-class experience. 41 and Adjusted EPS of $1. (NYSE: WP)-FIS announced earlier in 2019 their. In addition to serving as Payroc ’ s SVP Payfac Trusty, Aaron also manages Payroc ’ s risk management and 3rd party vendor relationships. Most relevant. To manage payments for its submerchants, a Payfac needs all of these functions. With today’s technology and resources, large capital expenditures aren't necessary for many companies. ,), a PayFac must create an account with a sponsor bank. sub-merchant used to configure how to charge your sub-merchants for transactions (for example, by method of payment, by transaction type, a flat fee versus a percentage fee, etc. For the best experience, members of our developer community need to login to securely use all of our community features. In their increased bid to boost their embedded finance capabilities, Fintech platform FIS has acquired Payrix, the embedded payment company. FIS through recently acquired payment company. Want to become payfacs themselves someday. FIS will sponsor a live webcast of its conference call with the investment community to discuss earnings and the. Shows the bank activity, starting balance and ending balance of the PayFac FBO Settlement account for the previous day. Handling payments doesn’t need to be a costly and lengthy exercise. New Payfac jobs added. Advancing the way the world pays, banks and invests™. Payment processors often provide merchants with access to deposit accounts through their own relationships with acquiring banks. Recurring Revenue Stream. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Full time. Code Connect gives access to every category of APIs like Banking, Card Management, Fraud, Payments, Capital Markets and Wealth. As of April 1, 2023, merchants using Worldpay from FIS may notice some transactions with a new or increased Transaction Risk Fee (TRF). Call me on my cell at 904-571-5480, email Andrew. 178. Strategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS Global careers. vantivcnp. In chargeback situations where the merchant is accepting payments through a payment facilitator, that PF will sit between the acquirer and the merchant. But the model bears some drawbacks for the diverse swath of companies. Payrix is the only PayFac ® as a service platform built by a payment facilitator, exclusively for software platforms. Legal Entity and Sub-Merchant Creation Process; Background Check Options; Accessing the PayFac Portal. Job Title: Location: United States (change) The average salary for FIS employees is $83,128 in 2023. The report is run hourly and held instructions are only shown for 14 days after being released. Chapter 2 of the Worldpay eComm PayFac API Reference Guide “PayFac API Certification Tests” provides the data you use while testing. Increased revenue 3% on a GAAP basis and 5% on an organic basis to $3. ©2022 FIS. Reap the rewards of being a full platform payments solution, without taking on the risk, compliance, and investment. Sales Executive with experience in financial. FIS has reported its fourth quarter 2022 earnings. Accept in-person paymentsSAN FRANCISCO, Aug. Balance Summary Report. Businesses can create new customer experiences through a single entry point to Fiserv. We carved out a $2 billion payments business in ’10 and grew it consistently above. Excluding the impact of a large PayFac client, global volume increased 3% on a reported basis and 6% on a constant currency basis, US volume increased 5%, and transactions increased 3% as compared to the prior-year period. The payfac model has catapulted into the mainstream, thanks to payments disruptors like PayPal, Square, and Stripe. Last Update. This blog post explores. In this model, the white-label payfac provider takes care of the underlying technology, payment processing infrastructure, compliance, and risk. Township of Howell. 6 billion. Payfacs do not have access to those funds. For your specific needs, explore our you-tailored solutions. A PayFac will smooth the path. Enter the appropriate information in each of the fields, as listed in the table, Adding a Sub-Merchant. Businesses aren’t created all the same. This simplifies the onboarding process and enables smaller companies to roll out E-commerce solutions more quickly, while simultaneously expanding the number of transactions received by FIs. George Mihalos - Head, Investor Relations. Strategic Partnership Manager - PayFac job in 8500 Governors Hill Drive, Cincinnati, OH 45249, United States of America | Sales jobs at FIS GlobalVantiv Financial Services Cincinnati, OH 29,337 followers This account is now closed. •The payfac model is a logical starting point for software providers seeking to expand into broader financial services, creating a type of fintech flywheel. Todd Stone. Thus, when a payment facilitator receives funds from an acquirer/processor for the purpose of distributing them to its sub-merchants. Get the ultimate PayFac experience with the tools you need to onboard sub-merchants, collect payments on your schedule and reduce risk. Township of Howell. New York, NY $150,000 - $180,000. Click Disable . Access e-Login using your SSO login and passwordFIS Reports Fourth Quarter and Full-Year 2022 Results - Form 8-K. Our suite of tools and services offers a choice of funding options, settlement, revenue generation, and risk management capabilities for payment facilitators. Let FIS help you make the leap from traditional to digital assets across payments, banking and capital markets. Enabling businesses to outsource their payment processing, rather than constructing and. For example, a report produced on August 8th would contain data for July 1st through July 31st. FIS Acquisition of Payrix Expands its Offerings to Include Payfac as a Service. 3 billion of capital to. The core payfac digital ledger, with its pay-in / pay. Select the desired Date Range and click View to refresh the page. The PayFac Reconciliation Dashboard provides a single source tool for Payment Facilitators using the Managed Payout funding model for accessing the necessary data when performing financial reconciliation. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. Worldpay Rate Increases Effective April 2023. 6 billion. Settlement must be directly from the sponsor to the merchant. Integrate in days, not weeks. All su ch information is protected by copyright laws and international treaties. We would like to show you a description here but the site won’t allow us. fisglobal. Davis@fisglobal. Worldpay, Inc. PFs’ contracts with acquirers also hold them responsible for chargebacks. Connect the bank account that you want to receive your money. Companies offering PayFac solutions for merchants include Fidelity National Information Services Inc. com PayFac Portal - Introduction. Costs, including engineering, security, and maintenance are just a few expenses to consider when determining whether or not to offer payfac-as-a-service. Payments infrastructure for B2B marketplaces, wholesalers and SaaS platforms. In addition to serving as Payroc ’ s SVP Payfac Trusty,. 01332 477 853. Public Sector Support. The number of payment facilitators will grow rapidly in the coming years. B2B checkout to process all B2B transactions online & offline | payout instantly | automate complex money. The Visa Fixed Acquirer Network Fee Report is a PayFac report containing the details of FANF fees assessed by Legal Entity. Select the Settlement Date view. Position Type. As of April 1, 2023, merchants using Worldpay from FIS may notice some transactions with a new or increased Transaction Risk Fee (TRF). S. All su ch information is protected by copyright laws and international treaties. Put our half century of payment expertise to work for you. Effective April 2023, Worldpay is implementing a $0. Fast, customizable portals, customer onboarding, and. “The profac gets the benefit of the payfac model but none of the [administrative] pain that comes along with the model. Payment processing up and running in weeks. Global Acquirer Risk Standards Review. The fee, coming from a Visa assessment, is due to. A PayFac is a third party services provider that acts as an intermediary between merchants and payment processors. Conclusion: The PayFac model significantly simplified the delivery of merchant services to its sub-merchants by: Utilizing sub-merchant aggregation to streamline the credit application, underwriting, and onboarding process. Improve the effectiveness and efficiency of your payments organization structure and staffing model. Worldpay eComm PayFac API Reference Guide. The risk is, whether they can. PayFac | Payment Facilitator Solutions | Worldpay from FIS Award RecognitionA payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. FIS is committed to protecting the privacy and security of all personal information that we process in order to provide services to our clients. Explore our articles, reports, videos and. In the PayFac model, banks that monitor PayFacs are called Acquiring Banks. The ISO, on the other hand, is not allowed to touch the funds. A payment facilitator, commonly known as a payfac, occupies one of the central roles within the payment processing ecosystem, yet it causes significant confusion. PayFac business is high-quality and growing >60%, worth $6/share today and $24/share in 2027. The payfac model is a framework that allows merchant-facing companies to. Stripe provides a way for you to whitelabel and embed payments and financial services in your software.