Virtual Payment Facilitator Model

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Virtual payment facilitator model is a handy option for software platform providers that want to increase their revenues by providing merchant services to their clients. If a SaaS or POS platform provider wants to become a payment facilitator but is not ready for significant upfront costs and for assuming the whole set of PayFac-specific responsibilities, then virtual payment facilitator model is a good “try it before buy it” in-between solution. In contrast to the a PayFac, a virtual PayFac is not responsible for merchant underwriting process. However, it handles almost all other aspects related to merchant life-cycle, such as onboarding, funding, payment processing, and chargeback handling. A virtual payment facilitator works under the umbrella of a larger payment service provider that offers virtual PayFac service and handles merchant underwriting. For some companies virtual payment facilitator model may be a long-term solution, while others may switch from virtual to traditional payment facilitation.

Learn more about the benefits of virtual payment facilitation model the respective article on Paylosophy.

Summary
Virtual Payment Facilitator Model
Article Name
Virtual Payment Facilitator Model
Description
Considering to become a PayFac, but not ready for significant upfront costs and PayFac-specific responsibilities? Perhaps the virtual payment facilitator model can be the right decision for you?
Author
Publisher Name
United Thinkers LLC
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Virtual Payment Facilitator Model обновлено: August 8, 2018 автором: Katherine Pensatori

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