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Mastercard defines a payment facilitator as a service provider that is registered by an acquirer to facilitate transactions on behalf of submerchants. Mastercard has implemented rules governing the use and conduct of payment facilitators. Please see Rule 7.8 in the Mastercard Rules.
The MasterCard Payment Facilitator Module
Start accepting Mastercard credit & debit card payments online, in-app or in-person to enhance sales & customer experience. Find an acquirer & payment facilitator.
Mar 26, 2024 · A Payment Facilitator (PayFac) is a financial intermediary or organization that simplifies the payment processing experience for smaller merchants or businesses. Its primary aim is to enable these smaller entities to accept electronic payments, such as credit card transactions, more quickly and efficiently.
The Third-Party Review is an annual review conducted for selected payment facilitators, at the sole discretion of Mastercard Franchise Management Program staff. Mastercard examines the payment facilitator’s ability to support Mastercard customers so that they can adhere to the minimum Mastercard fraud loss control program requirements
In this guide, we’ll explore what a payment facilitator (often abbreviated as payfac or PF) is, examine the considerations and costs of different types of payfac solutions, and identify the best ways to add payments to a platform or marketplace.
Sep 24, 2019 · A payment facilitator is a company that offers an alternative to contracting with a traditional payment organization by assuming responsibility for the flow of funds in a buyer-seller relationship. Key similarities and differences between the operations of a payment facilitator and traditional acquirer are the following:
