Do you own a software platform that hopes to monetize in ways beyond what your main offering can bring in? Franchisees: if you’re looking to monetize your business, consider offering payment processing services. Do you operate a private equity or venture capital business with a clientele consisting largely of young companies in need of payment processing services? Do you wish to improve your offering and take part in the merchant lifecycle as a single or wholesale ISO?
The advantages of our payment facilitator program are available to you if you already have a solid customer base and prefer to handle the payment experience for your clients.
The United Thinkers payment facilitator program’s advantages
More and more businesses are opting to use the payment facilitator approach. To put it simply, the model’s appeal stems from the fact that it paves the way for software platforms and other businesses to share in the profits generated by merchant services.
Several kinds of operation are used by current PayFac businesses. These are PayFac in a box, hybrid PayFac, white-label payment facilitator model, and full-fledged payment facilitation. As a result, if you decide to work as a payment facilitator, you can select the model that best suits your company’s needs. It’s not necessary to take on the complete obligation and attempt to meet all the standards at once. Nowadays, it could be simpler than you think to become a payment facilitator, thanks to businesses like United Thinkers.
As a component of its omnichannel payment system UniPay Gateway, United Thinkers provides a complex payment facilitator program. Some people could refer to this as a component of the PayFac service. We essentially provide full automation of the merchant lifecycle management process, from risk assessment, onboarding, underwriting, finance, and more.
Using our flexible approach, you may decide how many PayFac-specific duties you wish to assign to our staff. For example, we:
- Provide a full-featured, ready-to-use white-label platform.
- Help you with risk analysis, background checks, KYC procedures, and merchant underwriting.
- Provide a unique API with ready-made onboarding forms for rapid merchant onboarding. After a business fills out the form and signs up for payment facilitation services, they may immediately begin processing.
- Create visibly branded merchant statements with the name and logo of your business.
- Give completely automated systems for collecting merchant service fees.
- Support a variety of configurations.
- Ensure an honest and open revenue-sharing process. We will be pleased to split the profits from accepting payments with you.
Who is eligible for the UniPay payment facilitator program’s benefits?
Businesses serving several clients and offering goods and services to end users are the best candidates for the PayFac model. These many customers are easily capable of becoming their sub-merchants.
Such businesses include, for instance:
- SaaS businesses and software platforms;
- Franchisors;
- Online marketplace owners;
- ISOs;
- Venture capital and private equity firms.
As we previously stated, the list is not all-inclusive.
Advantages of the PayFac approach overall
- a large variety of functions. Compared to ISOs, PayFacs handle a greater variety of duties. Most often, ISOs resell merchant accounts that have been issued by several acquiring banks. In addition, a PayFac actively participates in the merchant lifecycle.
- unified operations and a volume consolidation. Typically, an ISO has several partnerships with processors and acquirers.
- Improved processing conditions and increased profits. When a PayFac supports a single acquirer/processor and offers merchant, gateway, and other services as a bundle, its profitability increases.
- The PayFac model is suitable for many kinds of businesses.
- The payFac business model raises the company’s value. The majority of SaaS platforms and software are owned by “growing firms.”
- PayFac programs are provided by platforms and acquirers. Processing platforms and acquirers go in the direction of the PayFac model as a result of its rising popularity and advantages.
Contact our specialists for more details on the PayFac Model.
