You are in charge of a payment-related project and do not know how to move forward with it. You want to adopt the payment facilitator model for your business, but are not sure how to get things done.
The first common problem you might be facing is that the information at your disposal is poorly structured, and, as a result, you don’t know, what you don’t know (i.e. whether you need some solution component or not, and if yes, how you should implement it or not).
The second common problem is that you have to take into account and harmonize a lot of different factors, associated with merchant lifecycle-related functions, already existing and new technologies, software and hardware, that need to be integrated/incorporated into your system. So you don’t know how to move forward (“analysis paralysis”).
The third common problem is that you don’t know how to stay within the budget limits, given the variety of things that need to be done, when there are so many “unknowns”.
In order to make actual progress, you need to deal with someone who knows how to navigate the market and is familiar with the procedure of becoming a payment facilitator. Beside that, preferably, you need to have a payment platform that is going to include functionality necessary to organize the necessary processes for you (payment processing, funding, KYC, on-boarding, reconciliation).
United Thinkers’ flagship product, UniPay Gateway, is a robust payment platform that allows its multiple users to move forward with their payment projects. We have rich experience of helping our clients to successfully implement PayFac-specific functionality. Our Virtual Payment Facilitator program allows software platforms to enjoy all the benefits of being a PyFac without actually having to become one.
Request a free consultation with our payment experts and discuss your specific situation today.