If a marketplace or any other company (ISO, SaaS provider, ISV, franchisor, venture capital firm) decides that it is the right time for it to become a white-label or full-fledged PayFac, it can do so. According to experts, Uber and AirBnB rely on the services different gateway partners in different parts of the world. A payfac vs. Coinbase Commerce: Best For Integrations. Reseller partners are treated as business owners, while referral partners can be business owners or customers. Our Solutions. A three-party scheme consists of three main parties. An ISO, at its most basic level, is an intermediary reseller. The titles of the various sections of the template are almost identical, even in the order, to the sections of the EU PIP template for the scientific document (parts B to E). 2. However, it is not specific gateway solutions that matter. net is owned by Visa. The PlayStation Portal is now available to buy for $200. Stripe. There are several ways for businesses to go about accepting payments, and two of the most popular provider options are PayFacs and Independent Sales Organizations (ISOs). The first thing to do is register. Identify your AR goals and ideal outcomes. The ISO, on the other hand, is not allowed to touch the funds. Both PayFacs and ISO’s (independent sales organizations) act as intermediaries between merchants and payment processors . Progressive means that the condition’s symptoms will keep worsening over time. Stripe Plans and Pricing. When you take on an ISO, you’re getting access to a handful of payment processor services that have a partnership with your ISO. The Business Solutions division of Sysnet Global Solutions. The contract is typically between the sponsor and the merchant, but the ISO may sometimes be included in a three-party agreement. One major advantage the Nintendo DS and 3DS have over the PSP is touchscreen support. Payments facilitator or payfac are in essence a third-party entity which operates as a payment services provider (or PSP). on demand when end-of the day settlement message is received. Contact our Internet Attorneys with the form on this page or call us at 855-473-8474. We have defined three distinct categories: global, international, and regional PSPs. Generally speaking, a PayFac might be suitable for bigger businesses that need to process a large volume of transactions, and an ISO might be more suitable for smaller businesses. If the intermediary entity, which funds the sub-merchants, uses different MID for each merchant, it is called a payment facilitator. July 12, 2023. The payfac part you described is clear, thanks! What confuses me is that as far as I understand, a PSP can also explore working with a BIN sponsor (an acquirer / a principle member of Visa/MC) so they dont have to get the acquiring license themselves, but in this model they can get into the fund flow since the BIN sponsor would settle to them - this is. Managed PayFac or Managed Payment Facilitation – The 2023 Guide. In the scenario of a SaaS company operating as a PayFac, you are the master merchant and your customers are the sub-merchants. Join us on this captivating journey into the world of payments technology as we showcase our latest products and delve into the forefront of innovation. €0. 1. The ISO, on the other hand, is not allowed to touch the funds. ISOs mostly resell merchant accounts, issued by multiple acquiring banks. Embedded experiences that give you more user adoption and revenue. PSPs act as intermediaries between those who make payments, i. It would register the merchant on a sub-merchant account and it would have a contract with the acquiring bank. Premier Payments Online · June 26, 2020 · June 26, 2020 ·Descriptor definition. May 1, 2023 In this article, we’ll attempt to cover almost everything you need to decide which payment solution is right for you: a Payment Facilitator or a Payment Processor. responsible for moving the client’s money. Hurry up and add some widgets. ISOs may be a better fit for larger, more established businesses. But like with any payment option, there are different Payfac models to choose from. And the cameo makes it all come together! Thanks, Timmy Nafso for having me. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. consumers, and those who accept them, i. A sub-merchant platform involves a Payfac that has been pre-approved for one master merchant account with an acquirer, like TD. I SO An ISO works as the Agent of the PSP. To describe the usage of the PSP among adult ADA-treated patients with psoriasis in Europe and the associated impact on patient outcomes: Clinical outcomes: PGA and remission status: Higher percentage of remission (80. Thus, it would arrange communication between both parties, the merchant and the acquiring bank. Powerful payment solutions for businesses of all sizes. Then the PayFac needs to build a number of other tools or go through compliance processes, like becoming PCI Level 2 certified, but as soon as they reach. Online payments built to build your business. Onboarding workflow. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Especially valuable for platforms and marketplaces looking to payout users faster in a preferred currency. Contact. It looks like you’re processing their payments, but your partner is absorbing the risks, build-out. One FTE is sufficient until $250M in processing volume, then you’d need to add more bodies. You will also not have the same reporting requirements by the card brands. Mastercard PayFac Models: The Ins and Outs of the “Big Two” Payment Facilitator Programs. Types of merchant of record In the current downturn, said Mielke, the PayFac or ISV that is diversified will be better positioned to weather the storm. payment processor question, in case anyone is wondering. A card acquirer maintains the merchant’s account to accept payments for them, whereas a payment processor is only responsible for processing payments; merchants are not dealing directly with the processor during the. 3. In a traditional onboarding process with an Independent Sales Organization (ISO), the merchant must first. 26 May, 2021, 09:00 ET. Payment is becoming more cashless than ever now as a massive number of transactions are digitally carried out through credit cards and e-wallets. retailers. The payment facilitator model was created by the card networks (i. Descriptors are fixed in length. The PSP is no longer manufactured, but you can find used models on eBay and other places selling previously owned electronics. For retailers. Higher fees: a payment gateway only charges a fixed fee per transaction. Marketplace vs ecommerce platform: What's the difference? Read article. , May 26, 2021 /PRNewswire/ -- PayFac-as-a-Service startup Tilled today announced the close of $11 million in Series A funding to empower software companies. Connection timeout. What is a merchant of record? Read article. VikingCloud offers cloud-native predictive algorithms and innovative technologies help keep your organization safe. Code Connect offers many API products for Modern Banking Platform in its API catalog. agent A specified good or service is a distinct good or service (or a distinct bundle of goods orPayfac infrastructure company Finix announces that it is now operating its own payfac and competing directly with Stripe and others in offering payment processing services to independent software vendors (ISVs). But for this purpose, it needs to build a strong relationship with an acquirer that will underwrite it as a PayFac. What is a payment facilitator? A payment facilitator, also known as a “payfac” or payment aggregator, is a payment model that has grown tremendously over the past few years. ACH Direct Debit. Jorge started his payment journey 15 years ago. Clear. PayFac vs Payment Processor. Resellers need capital to buy products and services from the business, but referral partners don't. One of the reasons for this phenomenon is that many companies (including former independent sales organizations (ISO)) find it more profitable to combine the functions of an online gateway provider and a merchant service provider (MSP). A PayFac handles the underwriting. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. These systems will be for risk, onboarding, processing, and more. A Payment Facilitator (PayFac) is a type of merchant services company that provides business owners with a way to accept electronic payments, both online and in-store. PayPal using this comparison chart. The PayFac, he said, has emerged, and evolved from its 1990s underpinnings where merchant acquirers had handled that merchant enrollment, boarding, underwriting and even settlement. Most important among those differences, PayFacs don’t issue. PayFac = Payment Facilitator. Payments. But how that looks can be very different. UK domestic. • The 9 digit MICR and the 11 digit IFSC are mandatory requirements without which your SIP applications will be rejected. Payfac is the abbreviated term often used in the payments industry to describe a company that provides payment processing services to businesses. Thus, an ISO’s customers can access a wider range of processors, even if the onboarding experience is tedious. Braintree became a payfac. 1) A PayFac always acts on sub-merchant’s (retailer’s) behalf, while an MOR might be the actual retailer. A PayFac services a portfolio of sub-merchants under a unified master merchant account. Payment facilitation requires the master merchant (usually the software provider) to take legal and financial responsibility for the transaction that occur under the primary merchant. The PayFac model allows a single entity to become the “merchant of record” and board sub-merchants with fewer data requirements and scrutiny. Sub-merchants operating under a PayFac do not have their own MIDs, and all transactions are processed through the facilitator’s master merchant account. Avoiding The ‘Knee Jerk’. When a lead converts to a customer, the referral partner gets rewarded. The main difference between payfac and payfac-as-a-service is the ownership of the payment processing systems and level of control the business has over. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. Our white label solution. Companies that provide software and other infrastructure for. 11 + $ 0. 2 million annually. One classic example of a payment facilitator is Square. We have APIs for all business types, whatever your size or location and whether you take payments online or at point of sale. When PayFac became a buzzword among software platforms and the many businesses trying to sell to them, the meaning of the word started to blur. While Tilled’s PayFac offerings will bring a lucrative new revenue stream to your business through payment monetization, we do more than write you a check each month and wish you luck with this new aspect of your business. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. a. To be clear: this means you get the money directly into your own account, NOT like PayPal. An ISO is a third-party company that refers merchants to acquiring banks or payment service providers. The MoR is liable for the financial, legal, and compliance aspects of transactions. 7 trillion by 2026, and an entire industry has appeared to provide online payment processing. This means that a SaaS platform can accept payments on behalf of its users. With a nod to Visa’s own efforts, he said that the company is forging what he called a “clear path” approach that offers a turnkey solution as PayFacs contract with acquirers to provide Visa. In this article, we explore various forms of payment facilitation, the commercial opportunity for payfacs, the maturation process of select payfac models, and the key features and functionalities to look for in PSPs. 11 + 4%. What is a payment facilitator (payfac)? A payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. Adyen not only operates as a full-stack Payment Service Provider, but also gives its customers a true omnichannel solution to accept payments anywhere in the world. Additionally, merchants using Payfac can boost the original value of their products by being the. e. Examples of Sponsor Bank in a sentence. Managed PayFac. PayFac or the Payment Facilitator is the third-party payment services provider (PSP). PayFacs are based on the merchant aggregator model created by Visa and MasterCard to provide support for payment card acceptance in marketplaces. 4. May 24, 2023. 99/ month 2 Ratings. As mentioned, the primary difference between payment facilitators & payment processors lies in how merchant accounts are organized. The term “white label” stands for a technology that our customers and in particular payment professionals can use,. LTV:CAC Ratio = $1. partnering with a payment processor? Learn more in this 3 minute read. As a result, it would link the merchant and the acquiring bank. In this article we are going to explain why payment facilitator model is becoming so popular (attracting more and more entities) while ISO model is gradually dying out, vacating the space for new payment facilitators. Join our network of a million global financial professionals who start their day with etf. Stripe provides a way for you to whitelabel and embed payments and. By Drew. A payment facilitator, commonly known as a payfac, occupies one of the central roles within the payment processing ecosystem, yet it causes significant confusion. Introduction. But regardless of verticals served, all players would do well to look at. PayFac vs ISO. Generally, no or minimum information is. PCI Compliance Requirement Checklist Like Comment Share Copy; LinkedIn; Facebook; TwitterThe best crypto payment gateways provide convenient interfaces for accepting multiple types of cryptocurrencies, flexible settlement options, and low fees. PSP is a clinical diagnosis; imaging helps to differentiate mimics. Reduced cost per application. It is when a business is set up as a primary merchant account and provides payment processing to its sub-merchants. What’s the distinction between Payfac and PSP? A payment Facilitator is a third-party payment service provider (PSP). A Payfac provides PSP merchant accounts. It acts as a mediator between the merchant and financial institutions involved in the transactions. PSP is a progressive neurological condition that causes weakness (palsy). While both services provide the same basic. The hardware. Instead of each individual business. To manage payments for its submerchants, a Payfac needs all of these functions. It’s also possible to monetize transactions with both options. Aug 10, 2023. A Payment Facilitator [Payfac] is essentially a Master Merchant that processes credit and debit card transactions for sub-merchants within their payment. Welcome to "Embedded: Unveiling Payments Latest Innovations," the revolutionary podcast brought to you by Fortis. Issues with connection can be caused by DNS problems, server failure, Firewall rules blocking specific port, or some other. A payment gateway on the other hand is technology that verifies payments between merchants or vendors. Send you one of 100+ unique reports with suggestions that fit like a glove. Acquiring banks willingly delegated them to payment facilitators in exchange for part of liabilities and residual revenues. Payment Facilitator. They’re also assured of better customer support should they run into any difficulties. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Both aggregators and facilitators offer similar benefits from the perspective of the end-user. Collect key details about your business. Progressive supranuclear palsy (PSP) is a complex condition that affects the brain. A PSP is a company that offers merchants a range of payment processing solutions. For their part, FIS reported net earnings of $4. Put our half century of payment expertise to work for you. A payment processor receives the initial authorization request when the card is swiped to make a purchase. Indeed, PayFac model is a beneficial solution for merchants, acquirers, and, of course, payment facilitators themselves. A Payfac provides PSP merchant accounts. The Visa Global Registry of Service Providers is the payment industry's designated source for information on registered and compliant agents that provide payment-related services to Visa clients and merchants. A payment facilitator (or payfac) is the owner of a master merchant identification number who registers merchants as sub-merchants and enables their payment acceptance. Gateways charge fixed fees per transaction, whereas payment service providers charge both fixed. The arrangement made life easier for merchants, acquirers, and PayFacs. The current plan is to remove PSP from Kubernetes in the 1. Call us on 01332 477 853. 21 starts the deprecation process for PodSecurityPolicy. Unlike payfacs, ISOs set up individual merchant accounts for each business they service. It is characterized by motor symptoms caused by α-synuclein-mediated dopaminergic cell loss and iron overload in the substantia nigra (SN) of the midbrain (). A sub-merchant platform involves a Payfac that has been pre-approved for one master merchant account with an acquirer, like TD. Read article. This hybrid. Popular 3rd-party merchant aggregators include: PayPal. ISOs and PFs may occupy similar space, but their fundamental differences set them apart from each other. Settlement must be directly from the sponsor to the merchant. This model also provides a streamlined registration process, greatly increasing time to market. 70. In this the ninth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, Host Bob Butler interviews Jorge Lozano, VP of Underwriting and Lloyd Fernandez, VP of Product at Payrix, about all of the decisions a software company must make when embedding or integrating payments. The payment facilitator, or “PayFac”, model of merchant acquiring is growing extremely rapidly. Supports multiple sales channels. k. Exact handles the heavy. Niko Silvester. However, they do not assume. Nonmotor (ie, cognitive or neuropsychiatric). Is a Payment service provider and payment gateway the same?PayFac vs ISO: Key Differences. We’re also growing through a sustainable business model and looking to remove days of finance work every week so business leaders can focus on building a future. payment gateway; Payment aggregator vs. Your Header Sidebar area is currently empty. While all of these options allow you to integrate payment processing and grow your. 0x for the implied LTV/CAC. Before you go to market as a PayFac, it is a good idea to set a goal to define success. Skaleet's Core Banking Platform helps marketplaces launch their PayFac solution by opening a merchant bank account and receiving a merchant category code (MCC) to acquire and aggregate payments for a group of smaller merchants, typically called sub-merchants. While both types of merchant account providers can assist you with equipment and services, an ISO will provide you with your own merchant account, whereas a. Whatever works best for them. There are two main options when it comes to choosing a PayFac: a payment service provider (PSP) or an independent sales organization (ISO). PayFac vs Payment Processor. The Job of ISO is to get merchants connected to the PSP. As your true payments partner, we provide you with an entire division of payments experts essentially in house. Vantiv. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. In this sub-merchant model, Payfac has a master merchant account under which merchants are signed up, as sub-merchants. PSP & PayFac 101. The gateway handles the tokenization process, which hides the card information while it’s in transit; a very important piece of the data security in payments. For some ISOs and ISVs, a PayFac is the best path forward, but. Nasp's online training and certifications. Core. 2CheckOut (now Verifone) 7. PS Vita. LTV/CAC ratio = $80 / $10 = 8. Payment facilitation, or “payfac,” continues to grow in popularity among software providers and is designed to facilitate payment card acceptance without requiring individual merchants to go through the lengthy process of establishing traditional merchant accounts. Our payment-specific solutions allow businesses of all sizes to. A PSP is a company that offers merchants a range of payment processing solutions. (GETTRX) is a registered ISO/MSP/PSP for Esquire Bank, Jericho NY. It is a complete solution, beginning with taking. PSP-3000. Since the start of COVID-19, Square has begun to hold back 20 to 30 percent of some of their client’s revenues for up to 4 months. The payment processor also typically provides the credit card machines and other equipment needed to accept credit card payments. Registered payment facilitators earn 20-40 basis points more per transaction than they would riding the rails of another wholesale PayFac. Many ISVs are moving towards the value of Payfac by actually becoming Payfacs themselves. Supranuclear refers to the region of the brain affected by the disorder — the section above 2 small areas called nuclei. This model gives your users the ability to seamlessly accept payments directly from your platform and allows you to own and monetize the payments experience. These nerve nuclei are often found in the brainstem and can impact vision, swallowing, speech, and more. PSP-E1000. As PSP have become aspirational the difference between white label solutions and Payfac are slowly fading away. And as we already learned, Americans generally tend to take few breaks away from their desks. What are the differences between payment facilitators and payment technology solutions, and how do you know. • The UMRN, the Sponsor Bank Code and the Utility Code are meant for office use only and need not be filled by the investors. A business that meets one or more of the definitions of a type of MSB (as currently defined) is an MSB and must comply with BSA requirements applicable to it as an MSB, as a financial institution and as a specific type of MSB. transaction execution. A PayFac will function as a payment facilitator in this general sense (though it's important to note the differences outlined above), and you can use a payment gateway to translate data between the PayFac and the credit card providers. Build payments economies of scale and achieve end-to-end efficiency. the PayFac Model. Many online and physical businesses avoid the headache by using a one-stop-shop payment service provider (PSP) that has built-in merchant acquiring services. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be. By adding their clients’ applications to the Clover App Market, merchants increase their sales and revenue, which helps the providers earn more as well. Enabling businesses to outsource their payment processing, rather than constructing and maintaining their own. There are some native RetroArch cores for vita. When you start accepting payments online, you need a merchant account from a payment facilitator with sufficient infrastructure and proper compliance to process payments . a merchant to a bank, a PayFac owns the full client experience. Your application must include: the application form relevant to your type of firm. Payfac Pitfalls and How to Avoid Them. June 26, 2020. The Vita ditches that technology for cartridges and digital downloads instead. Proven payment technology helps businesses pay and get paid so they can focus on what matters most. e. @wepay. Onward!IndexCode Connect: FIS Code Connect is an API Marketplace or API Gateway, which provides one-stop access to all APIs across FIS. Core from WePay gives you the tools to become a Payment Facilitator (PayFac) on Chase's payments infrastructure. See moreA payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. In contrast, a payfac-alternative model with limited responsibilities can cost as little as $200,000 to $800,000 up front and $0. 3. When it comes to choosing between a PayFac and an ISO, the best option depends on your business's specific needs and preferences. 1. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by. This crucial element underwrites and onboards all sub. Companies like NMI and Spreedly are. The PF may choose to perform funding from a bank account that it owns and / or controls. 2019 (France, Germany, Italy, Spain. 5%. A payment facilitator (or payfac) is the owner of a master merchant identification number who registers merchants as sub-merchants and enables their payment acceptance. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. Marketplace vs ecommerce platform: What's the difference? Read article. Akurateco’s gateway is a fully brandable, white-label solution allowing you to own the end-to-end ready-to-use, PCI DSS gateway with zero development cost. But in the real world Gamecube was above the PS2 and close to Xbox in performance. Hurry up and add some widgets. ,), a PayFac must create an account with a sponsor bank. a Payment Service Provider (PSP), aka a Payment Facilitator (PayFac). accounting for 35. PSP-3000 . the scheme and interchange fees). Payment facilitation (Payfac) is a service that allows businesses to accept payments from their customers in a variety of ways. A major difference between PayFacs and ISOs is how funding is handled. A PayFac (payment facilitator) has a single account with. Blog. It is when a business is set up as a primary merchant account and provides payment processing to its sub-merchants. Here’s. e. There's not a huge amount to look at on the back of the PSP and PS Vita. As the name suggests, this is the entity that processes the transactions. Payments. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. CAC = $10,000 / 1,000 = $10. Many years ago, a PSP homebrew developer announced plans to produce a touchscreen that could be retrofitted to the PSP, but it never materialized. A PayFac is one of the types of a payment service provider (PSP). We feel that people, asking such questions, just want to implement payment processing logic, similar to. Merchant of record vs. A PayFac sets up and maintains its own relationship with all entities in the payment process. A payfac as a service partner provides the infrastructure you need to offer payments to your customers in the form of a white-labeled solution. A payment processor sits at the center of the payment cycle. An MoR acts as a payment processing service that is essentially a reseller of the merchant’s goods or services, and a payfac assumes responsibility for establishing and managing the relationships that the merchant needs to start taking payments. Some common examples include adoption rate, retention rate, total processing volume, and the lifetime value of customers. 40. The terms aren’t quite directly comparable or opposable. PayFacs offer greater risk management abilities and impose stringent underwriting controls. Payroc LLC, together with its wholly-owned affiliate Payroc Processing Systems, LLC, is a registered Visa third party processor (TPP), Mastercard third party servicer (TPSV), payment facilitator. The original model, which is slightly chunky when compared with the later 2000 iteration, is still solid. Instead of going through the lengthy and expensive process of setting up multiple integrations, you can save time and money by using MONEI to accept all the payment methods you’ll ever need. PayFac-as-a-Service helps you hit the ground running and quickly onboard customers while adhering to compliance standards. Technology has fundamentally changed how businesses, acquiring banks, and card networks work together. Consequently, only the PSP’s payment application (which does have the encryption key) is capable of decrypting the swipe. Very few PayFac as Service providers publish pricing to sub PayFac’s and there is a reason. Sometimes a distinction is made between what are known as retail ISOs and. Payments designed to. Link. Both ISVs operating as ISOs and PayFacs provide a way for companies to accept payments and serve as intermediaries between their customers and the payment processors and banks. Here are the best alternatives to Stripe from providers like Square, Helcim, and Treati. The PSP is an amazing piece of handheld history, but how does it stack up in 2023? This video is an extensive look at buying, modding, and gaming on a PSP in. The former, conversely only uses its own merchant ID to process transactions. A payment processor serves as the technical arm of a merchant acquirer. A Payment Aggregator or Facilitator [Payfac] can be thought of as being a Master Merchant-facilitating credit, debit card and ACH transactions for sub-clients within their payment ecosystem. Becoming a full payfac typically requires an. First, we saw the unbundling that gave us the alphabet soup of MSP, PSP, PayFac, ISO, etc. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. However, they do not assume financial. A large-size ISO can turn wholesale. Understanding the differences between them and choosing the best approach can help businesses build a well-functioning payment system. Payment Service Provider (PSP) is like a Pay-Fac, but where you get your own Merchant Account (meaning your business passes credit check / underwriting process). A Payment Facilitator, or PayFac, is a company that provides payment processing services to merchants looking to accept credit and debit cards. One of the critical differences between payment processors and payment facilitators is the underwriting/approval process. PSP-2000. That said, some organizations, like Stax, don’t differentiate between the two. Let us take a quick look at them. Payment Facilitators are 100% responsible for PCI Compliance, risk underwriting, funding and providing payment support. And the cameo makes it all come together! Thanks, Timmy Nafso for having me. However, there are instances where discrepancies arise. With a. These methods can simplify payment as well as minimize fraud and mistakes for both businesses and consumers. subscribing, and for some of these “old heads” (I’m in that group…. Global Electronic Technology, Inc. 24×7 Support. It is when a business is set up as a primary merchant account and provides payment processing to its sub-merchants. Payfacs have continued to gain prominence and have been adopted by ISVs to create a more dynamic user experience. It would open a sub-merchant account for the merchant and have a contract with the acquiring bank. Checkout’s “gross profit” is the P&L line most comparable with Adyen’s “net revenue” line. As with all feature deprecations, PodSecurityPolicy will continue to be fully functional for several more releases. A payment processor is a company that works with a merchant to facilitate transactions. This is. . It provides a technology, allowing to authorize transactions and, potentially, receive transaction settlement information. But regardless of verticals served, all players would do well to look at. When you start accepting payments online, you need a merchant account from a payment facilitator with sufficient infrastructure and proper compliance to process payments . Discover how REPAY can help streamline your billing process and improve cash flow. As a result, it would link the merchant and the acquiring bank. Mike is co-founder of GroovePay® and was the co-founder of companies such as Kartra, WebinarJam, EverWebinar, and Marketers Cruise. So, make sure you choose a PSP that performs underwriting at the time of application. We would like to show you a description here but the site won’t allow us. Technology used.