Am I a Payment Facilitator?
"Payment Facilitator" is a hot new buzz word making its rounds throughout the credit card processing industry. Unfortunately though, there are a lot of folks (even amongst our colleagues) who can't seem to understand what the phrase actually means. It really isn't all that complicated. A Payment Facilitator…get this…facilitates payments for a bunch of merchants that use his or her software. More often than not, a Payment Facilitator's solution was built to support a specific industry, and includes features unrelated to payments, but which help business owners nonetheless. No matter! if your software also helps a business owner accept payments, you are a Payment Facilitator.
That said, there are a LOT of payments-related functions that you'll need to perform before merchants are able to use your software, and most Payment Facilitators do a lot more than run cards onto a bunch of merchant accounts. While we probably can’t help you understand the specific businesses that you are an expert in, ProPay CAN provide you with everything you’re going to need to help merchants get money to those businesses.
ProPay’s ProFac solution includes a bunch of services that you might never have considered, and this site describes them all. Keep in mind that if you aren’t a Payment Facilitator, some of these sections may not apply to you. Then again, nobody ever said you can’t process for yourself either.