PayFac Gateway Integration for a SaaS Platform
SaaS platform owners are among top candidates for becoming payment facilitators. Other candidates include independent software vendors, online marketplaces, and franchise owners. All these business models (including SaaS model) have “know your customer” logic. They also have established customer bases. So, they are already on the way to becoming PayFacs.
Now, let us consider the options of SaaS companies that want to participate in electronic payment processing.
SaaS Platform Prospects
A traditional SaaS...
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Your Own Payment Gateway: Let the Dream Come True
Building or licensing your own payment gateway involves many important aspects, both business and technical. The two conceptual options are as follows. Option one is to try to build a custom payment gateway from scratch. Option two is to license an off-the shelf solution and try to customize it according to your needs. In either case, before actually accepting digital payments you need to establish some critical relationships and build...
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Gateway Options for PayFac Payment Platforms and SaaS Companies
In spite of pandemic-driven economic recession, payment facilitator model is thriving. So, revenues of PayFac payment platforms remain high. At the same time, more companies are implementing PayFac model and establishing PayFac payment gateway partnerships. These companies include owners of SaaS platforms, franchisors, ISO, marketplaces, and venture capital firms.
Owners of many software platforms face the need to embed payment experience into their core offerings. This step allows them to boost...
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From Recurring Billing to Usage-Based Billing
It looks like we are witnessing a new phase of the usage-based billing evolution. Legacy billing software is no longer able to accommodate all the functions its users (and their customers) need. As a result, subscription billing software has to evolve into something more sophisticated. Traditional recurring payment processing and invoice software are supposed to bill the buyers of a subscription-based service or product at regular time intervals. However, consumers, hit...
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Your Own Payment Gateway: to Build or not to Build?
Modern payment gateway solutions serve two major purposes. First, they harmonize cardholder data formats as it is sent from merchants’ POS systems to payment processors. Second, they ensure security of payment data (provide an additional payment security layer). More and more present-day companies face the tough choice between buying ready-made gateway products and building their own gateway solutions from scratch. So, in the payment gateway services world Hamlet’s famous question...
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A White Label Payment Solution for Your Business
A white label product or service is a third-party commodity you offer to your customers under your own brand. Let's assume, your company wants to provide some additional value. However, it does not have the necessary resources to implement it. In this case you can resort to the respective white label product. True, it is, actually, provided by some third partly. But in the eyes of your customers (and, possibly,...
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Payment Facilitator Model Explained
Fintech industry is constantly evolving. Emergence of new types of players is an indicator of this evolution. Payment facilitator model is a relatively new concept. However, it is rapidly gaining popularity. Many people confuse it with other terms, such as payment aggregator, payment service provider, or merchant of record.
If you want to have a better understanding of PayFac model, this article is for you. In it we will outline the...
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White label Payment Gateway 101
White-labeling concept has become very popular among electronic payment processing industry players. We can witness the emergence and development of white label payment processing services, white label payment facilitator, and white label payment gateway reseller models. Indeed, these business models have already proven their efficiency at the market.
In this article we are going to focus on white label payment gateway model. A white label payment gateway reseller or provider is...
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PCI Payment Gateway
Electronic payment processing technologies become more sophisticated with every coming year. But as the process becomes more complex, new gaps emerge. And fraudsters are ready to use these gaps for compromising cardholder data. During pandemic-induced lockdowns, security of electronic payments has become even more relevant. That’s why every merchant or payment service provider prefers to integrate its platform with a PCI payment gateway.
PCI compliance is a payment card industry security...
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UniPay Integration Experience with Sunmi POS Terminals
The decline in cash payments across the globe has driven the rising demand for point-of-sale (POS) Terminals. In particular, we are witnessing high demand for wireless devices such as tablets and smartphones capable of functioning as electronic POS terminals or cash registers.
A great number of payment platforms and payment facilitators are looking for multifunctional ePOSs that would be a seamless match for their payment processing software while providing the best...
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Advantages of Flexible Payment Technologies
Can you imagine a piece of clothes that perfectly fits you all your life, adjusting to all the changes happening to your body? Or clothes that grows with your kid? What could it be made of? Some advanced type of self-reproducing stretchable fiber or plastic, perhaps? In fact, science fiction writers and movie directors have already imagined it for us. Remember, for example, “Back to the future III” movie. Well,...
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Becoming a Payment Facilitator: 10 Steps
The topic of becoming a payment facilitator is as fresh and relevant as ever for many companies. Indeed, during the last decade, we witnessed a real PayFac boom. We should admit, that, to a large extent, it resulted from demand for payment facilitation services and willingness of acquirers to delegate merchant experience to other entities. At the same time, success stories of PayPal, Stripe, Braintree, WePay, and others became model...
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How Merchant Onboarding Works and How to Improve It
The concept of merchant onboarding is extremely relevant for both prospective merchants and various types of payment aggregators and resellers. These include ISO, payment facilitators, and payment service providers. Merchant account applicants want to start accepting electronic payments as soon as possible. At the same time, payment aggregators of various sorts want to make payment experience for merchants from their portfolios smooth and seamless. In this article we are going...
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Contactless Payments for Contactless Times
Traditionally, the term “contactless payments” referred to EMV payment solutions based on near-field communication (NFC) technologies. Almost every payment card or app user nowadays is familiar with such technologies as Visa payWave or MC PayPass. Not to mention Apple Pay and Google Pay. From cardholder’s perspective it is easy. You just “tap” the terminal with your EMV card or gadget, and transaction comes through.
A new perception of contactless payments
Presently, the...
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Payment Facilitators and Acquirers: Rivalry or Symbiosis?
The advance of payment facilitation services during the last decade was tremendous. Card networks introduced the initial set of formal rules of the game for payment facilitators back in 2011. Since then, the PayFac concept has gone a long way. As of now, we are witnessing a situation when independent sales organizations (ISO) are vacating the stage for payment facilitators. At the same time, PayFacs themselves are rapidly increasing their...
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