Key Challenges Faced by PayFacs
Difficulty in striking the right balance between streamlined merchant onboarding and thorough vetting and underwriting to assess risk
Technical complexities and time investment required to integrate multiple payment gateways and acquirers
Assuming the liability of fraud and chargebacks incurred by their sub-merchants
Need to comply with various regulatory standards, PCIDSS and anti-money laundering requirements
Requirement to maintain a safe environment to protect the payment system against data breaches
Challenges in offering technical support to numerous sub-merchants and training the support team for the same
Our PayFac Services Include
Designing and building a modern PayFac platform that offers frictionless merchant onboarding, merchant management, payment processing, reconciliation, and dispute management solutions
Enabling multichannel payment processing and facilitating their merchant partners to offer flexible payment options to their customers
Providing uniform merchant experience across acquirers and payment processors for an elevated experience
Empowering businesses to make data-driven decisions with comprehensive reports based on transaction data, consumer behavior, and revenue trends
Integrating payment processors and dispute management systems on a unified interface to protect merchants and end customers against fraudulent activities and chargebacks
Driving API-based integration with payment processors for dynamic merchant payout and reconciliation and transaction settlement capabilities
Enabling a machine learning-based intelligent routing system to increase the payment success ratio
Opus Delivers Transformative Benefits with PayFac Solutions
Facilitates business expansion for PayFacs by simplifying merchant onboarding and management
Enables PayFacs to offer diverse payment methods by integrating multiple processors and gateways
Accelerates decision-making while reducing risk with valuable insights from merchant data generating using advanced analytics and reporting techniques
Safeguards PayFacs and their merchants from targeted cyberattacks by ensuring compliance with diverse regulatory standards and certifications with processor and card networks
Facilitates seamless intelligent routing of payments to different payment processors, acquirers, PSPS, gateways, and alternate payment methods dynamically
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Frequently asked questions
A payment facilitator or PayFac is a company that provides technology infrastructure for retail merchants to accept electronic payments.
PayFac as a service is a turn-key model that enables businesses to accept online payments by providing necessary tools and infrastructure, such as credit or debit cards, ACH, and echecks.
A PayFac opens a master merchant account using partnership agreements with acquiring banks to serve as an intermediary between businesses and banks for electronic payments in real-time.
A PSP or payment services provider is another name for a PayFac.
In the ISO model, merchants enter a contract with the payment processor directly, which may be a bank or a financial services provider. Whereas, the PayFac model, eliminates the need for each merchant to have an individual account and contracts are drawn between the PayFac and the business.