What Is Frictionless Underwriting?
When a merchant begins selling their products or services, one of the first steps in the process is to obtain a merchant ID (MID) so that they can accept credit card transactions. Traditionally, this means a merchant applies for an account with an acquiring bank or other bank sponsored entity (known as the acquirer). For this to occur, the acquirer [...]
What Is A Payment Facilitator?
A payment facilitator is a company that allows the merchants who they approve to accept electronic payments using the payment facilitator’s infrastructure. Payment facilitators are responsible for underwriting and onboarding merchants – referred to as submerchants in the payment facilitator model – as well as servicing the submerchant once they begin accepting payments. The payment facilitator model started as an [...]
PCI Compliance for Payment Facilitators
When it comes to ensuring Payment Card Industry Data Security Standards (PCI DSS) compliance, there can be a lot of moving parts. As a payment facilitator (PF), the PCI standards have an extensive impact on you and your business model. The payment facilitator model is increasingly gaining in popularity and disrupting the payments space. A lot of buzz around a [...]