The reason is simple. Software companies realize the sizable revenue opportunity that monetizing payments yields by being a Payment Facilitator, but they don’t want to spend millions of dollars and take a year or more to develop their own infrastructure. Secondarily, shouldering the burden of risk is a frightening thing to many who don’t fully understand payments. By partnering with us, you’re able to deliver a fully integrated PayFac solution to turn what has traditionally been a cost center into a revenue center. Simply leverage our suite of APIs, established relationships with processors, our decades of experience and operational infrastructure across marketing, sales, service, and risk management and underwriting to build the custom payments integration your software users have been asking for.
Becoming a PayFac is hard. It takes a ton of time, a significant financial investment, payments industry expertise and an understanding of risk, compliance and operational execution. Wouldn’t it be great if someone could make becoming a PayFac easier for you?
That’s precisely what we do at PayTech Trust.
We offer everything you need to enable payments within your technology platform under one roof.
Simply code to our extensive and robust API
libraries, complete with sample code, and we’ll take it from there. We provision and issue merchant accounts and automate the enrollment process so you can start earning revenue from the payments flowing through your platform in less than 30 days. No one else can make that claim. No one.
We also leverage our operational infrastructure before and once you’re processing payments – items like implementation, marketing, sales, billing, customer support and more…even follow-up calls to get merchants activated with one simple click.
The path to generating revenue can’t be any easier or quicker for you.
Sponsorship – Find a processor that will sponsor you as a PayFac with a member bank and the card associations.
Underwriting – Pass an extensive underwriting process.
Cash Reserves – Put up significant cash reserves and personal guarantees with the bank or the processor. Secondarily, you must develop credit underwriting guidelines and anti-money laundering policies.
Development Resources – You must have the internal technical resources required to manage settlement and funding to your downstream customers.
Payment Expertise – Hire staff with payment experience in acquiring, risk and compliance, implementation, integration, support and operational infrastructure to support the day-to-day activities of the payments business.
Compliance – Ensure that payments operations are in and remain in full compliance with PCI and other mandates from the card brands, which can cost hundreds of thousands of dollars annually.
