OnDemand Video Module

Introduction

Payments Facilitation, a card acceptance technique pioneered by PayPal, has grown in popularity over the years and is now used by providers such as Square, Shopify, Toast, and hundreds of others. But the PayFac model is only one of many models available to expand card acceptance. How does it differ from the ISO model? And what exactly is integrated payments? This session provides an arms length perspectives on the evolution of the PayFac model and emergence of next generation PayFac-as-a-Service enablers. It explores PayFac network obligations, regulatory requirements, and risk exposures. To provide a complete picture it also clears up (once and for all) what it means to be or not be the merchant of record.

Topics Covered

Topics covered include the fundamentals of card acceptance; similarities and differences between the acceptance models; PayFac obligations and risk exposures; and the key attributes of the PayFac-as-a-Service model. By way of example, the session also compare the differences between the leading PayFac enablers.

Learning Objectives

To understand the essentials of the Payments Facilitation model, how it fits into the larger card acceptance ecosystem, and the hidden requirements and obligations of PayFac providers.