ABC’s of a Payment Facilitator

By Eli Smith | May 14, 2020 |
PayFac, Payment Facilitator

Key Takeaways PayFac Basics: Payment Facilitators (PayFacs) offer seamless merchant services without the need for a traditional merchant account. Shared Merchant Account: PayFacs use a master merchant account, eliminating the need for individual merchant identification numbers (MIDs). Limitations of PayFacs: PayFacs often have fixed flat-rate pricing and volume limitations set by card brands. PayFac Responsibilities:…

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