Managed Payment Facilitator
What is the Managed Payment Facilitator Model?
You probably understand your value proposition rests not only in your direct service offering but also in the peripherals that impact the overall customer experience. As payment processing continues to evolve, a managed payment facilitator is a viable option that gives you greater control and provides a seamless experience for your customers. As the managed payment facilitator model becomes more and more in demand, there are some things you should know.
Managed Payment Facilitators can take advantage of key features of the payment facilitator model, without the burdens and risk associated traditionally associated with these programs.
As a software provider, rather than going through the process of becoming a Payment Facilitator yourself, as well as assuming the associated risk, you can opt to find a payment provider that offers a managed payment facilitator program. Some benefits include:
- Reduced fraud liability.
- Improved customer experience with frictionless onboarding.
- Less capital and operational overhead requirements.
Questions to Ask Potential Providers About the Model
You’ll want to ask a couple questions before committing to a managed payment facilitator program. First, what is the integration like? If you certify your software under one program type, but then as your company evolves, you’re better suited for another model, do you have to re-certify your software?
Second, what is the customer experience like? Besides a seamless onboarding process, what is the payment providers service model? Are there teams dedicated to not only providing superior support to your customers, but you as well? How does the provider set you up for success?
Interested in our Managed Payment Facilitator program? Let Paragon Payment Solutions help you find the best payments program and start monetizing payments today. To learn more about our products and services, call 1-800-884-5208 or fill out the form below.
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