Are you looking to monetize your software platform in ways beyond just your primary offering? Do you run a franchise and wish to capitalize on the growing demand for online payment processing? Do you have a clientele of startups that includes those needing payment processing as part of your private equity or VC firm? Do you want to be privy to the merchant lifecycle as either a wholesale ISO or an individual?
If that’s the case, you may take advantage of our payment facilitator service!
Advantages of United Thinkers’ payment-facilitating system
UniPay Gateway, United Thinkers’ omni-channel payment platform, includes a sophisticated PayFac service. We provide complete automation of the merchant services process. Everything from the preliminary stages of financing (underwriting, onboarding, and risk analysis) through the final stages (investment and more).
With our customizable approach, you can decide how much of your PayFac-related work to hand over to us. Let’s use an example:
- Provide a complete white-label platform that is already set up and ready to go.
- Help with Know Your Customer (KYC) procedures, background checks, merchant underwriting, and risk evaluations.
- Provide a customized API with pre-populated onboarding forms for quick merchant signup.
- Produce trustworthy merchant statements that feature your company’s name and branding.
- Make it possible to charge customers for merchant services automatically.
- Accommodate a wide range of setups.
- Ensuring that revenue is shared openly and honestly.
When could UniPay’s payment facilitator service be applicable?
Businesses with several customers and serving consumers are excellent prospects for the PayFac model.
- Companies that fit this description include:
- Software platforms and SaaS providers
- Franchisors;
- Those in charge of an online marketplace;
- ISOs;
- Firms that invest in venture capital and private equity.
The benefits of the PayFac approach in general
- Multiple uses and applications. PayFacs are capable of more than just ISOs. Most ISOs resale merchant accounts that were supplied by one of many acquiring banks.
- All the work has been rolled into one, and the volume has been consolidated. PayFac typically works with only one or two acquirers to better manage the volume of transactions it performs and to ensure that all of its internal procedures are consistent.
- More money is coming in and more favorable processing terms. To maximize profits, PayFacs bundles merchant, gateway, and other services under one roof and only works with one acquirer/processor.
- The scalability of the PayFac business model can accommodate a wide range of enterprises. Companies like this are ISVs, SaaS platform providers, franchisers, and original equipment manufacturers. If you already have a steady stream of business, why not join PayFac and capitalize on the growing need for payment processing?
- The PayFac model raises the value of the business. “Growth firms” are the typical owners of SaaS systems. They undergo periodic evaluations and consistently bring in fresh capital. When the PayFac concept is implemented, it generates new money for the business and boosts yearly revenue.
- PayFac applications are made available by a variety of platforms and acquirers. The advantages of the PayFac model have not gone unnoticed by processing platforms and acquirers, both of which have begun transitioning to it. A growing number of them are providing PayFac programs to individuals ready to adopt the payment facilitator strategy.
Learn more about how our platform may help you facilitate payments by consulting our knowledgeable staff. Please find out how to adapt our PayFac system to the needs of your business.
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