What is Payment Facilitator?
A payment facilitator (PayFac) is a service provider that processes payments on behalf of sub-merchants under its own master merchant account, simplifying onboarding and compliance for smaller businesses.
Overview
A payment facilitator (PayFac) is a service provider that processes payments on behalf of sub-merchants under its own master merchant account, simplifying onboarding and compliance for smaller businesses.
How It Works in Practice
In a typical card transaction, payment facilitator plays a key role in ensuring payments are processed accurately and securely. Understanding this concept helps businesses manage their payment operations more effectively.
PCI DSS Relevance
Under PCI DSS, all stages of payment processing must be secured. This includes the payment facilitator stage, where cardholder data must be protected from unauthorised access.
Paytia's secure payment platform handles the full transaction lifecycle for phone payments, including payment facilitator. All transactions are processed through PCI DSS Level 1 certified infrastructure.
Frequently Asked Questions
What is payment facilitator in payment processing?
A payment facilitator (PayFac) is a service provider that processes payments on behalf of sub-merchants under its own master merchant account, simplifying onboarding and compliance for smaller businesses.
How long does payment facilitator take?
The timing depends on the payment processor and card network. Most payment facilitator processes complete within 1-3 business days for UK transactions.
Can I track payment facilitator status?
Yes. Payment processors and platforms like Paytia provide real-time transaction status tracking through dashboards and API notifications.
Related Terms
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