Payment Facilitator Visa Europe. So if you wanted to start offering merchant services you could sign up as a sub. Mastercard defines a payment facilitator as a service provider that is registered by an acquirer to facilitate transactions on behalf of submerchants.
In contrast to a traditional merchant account where every merchant has their own account and corresponding Merchant Identification Number MID PayFacs will aggregate all of their merchants under one master MID. Conduct due diligence on each sub-merchant. This live event is intended to provide acquirers and payment facilitators with a forum to.
A payments facilitator or PayFac allows anyone who wants to offer merchant services on a sub-merchant platform.
The MasterCard Payment Facilitator Model is very similar to the Visa IPSP Model. This includes new tokenization services support for digital wallets and wearables strategic investments in other enabling technologies ecommerce and P2P payment capabilities as well as the opening of several global innovation centers. Below are examples of benefits afforded to each participant. PayFac for payment facilitators - If youre a business that services many merchants its easy to deliver complete payment facilitator solutions in a snap Set up merchants quickly Get your merchants up and running within minutes so they can begin collecting payments right away.