What Are Payment Facilitators Or Payfacs

By Author: Adam
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Payment Facilitators, also known as PayFacs, are service providers that enable businesses to accept electronic payments from customers. They act as intermediaries between businesses (referred to as sub-merchants) and payment processors, simplifying the process of accepting payments. PayFacs streamline the onboarding process for sub-merchants, reducing the time and effort required to start accepting payments. They typically provide a consolidated platform or service that handles various aspects of payment acceptance, including transaction processing, risk management, and settlement.

Payment facilitation offers several benefits for merchants, including faster and easier payments, reduced complexity, cost savings, enhanced payment experience, and scalable solutions. By choosing the best PayFac, merchants can focus on their core business while leaving payment processing in capable hands. Factors to consider include industry experience, integration options, supported payment methods, security measures, pricing structure, customer support, and scalability and growth.

Monay, a trusted and leading payment facilitator, ...
... is a trusted name in the industry, catering to the evolving needs of businesses. With a commitment to simplifying payment processes, Monay offers a comprehensive suite of features that make it one of the best payment facilitators in the market. By choosing a PayFac that aligns with your business requirements, enhances payment processes, and supports growth objectives, you can ensure smooth and efficient transactions for your customers.

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Tilli Software, based in McLean, Virginia, United States and Hyderabad, India is a pioneering fintech company delivering state-of-the-art global Digital Payment Solutions, Customer Communication Solution, Technology Services, and Customer Experience offerings to its clients and customers worldwide. It’s a PCI-DSS Level 1, SOC-2 and ISO-27001:2013 compliant company.