PUREfac Managed Payment Facilitation Simplified
What Is PUREfac Managed Payment Facilitation?
Holistic software solutions that include payment processing are becoming increasingly commonplace as the world becomes more interconnected. Merchants who want to accept any type of payments and have it be apart of their business management software, need an integrated payments solution. As a software provider, you most likely already have a payments integration with a partner in a referral model. Perhaps you now want a little more control or want to white-label your payment processing module or want to offer your users instant merchant account approvals. But…you don’t want to take on the risk and liability associated with traditional payment facilitation. How can you get the benefits without the financial and operational responsibilities? Keep reading, it may sound like a unicorn, but it does exist. 😊
What is a Payment Facilitator?
A payment facilitator, manages the entire electronic payments process on behalf of merchants.
Payment facilitators have been approved for one master account from a provider, such as Paragon. Facilitators can sign-up merchants to process payments underneath their master account. While it takes a few days or weeks to get setup with a merchant account, sub-merchants can be approved with a payment facilitator in a minutes.
The enrollment process for sub-merchants is simple. You enter in your information, accept the terms and conditions, and begin processing. On the backend, the software provider handles everything from underwriting to settlement. The software provider also owns the risk and needs a decent amount of upfront capital to support the payment facilitation model.
How can Software Providers become Payment Facilitators without the Heavy Lift?
Enter in Paragon’s PUREfac Managed Payment Facilitation – a model that offers ISVs a painless payment facilitator like solution.
There are many advantages to Paragon’s PUREfac Managed Payment Facilitation, to name a few…
- White-label payments integration
- Instant merchant approvals with no risk and liability for the ISV
- Easy merchant setup with no signatures required
- No full-time staff required to manage payments
Your Integrated Payments Provider Offers Limited Support
Having access to support resources is critical to keeping not only your business running smoothly but your merchant customers as well. If a customer has a problem with a transaction or you want to implement a change, it’s nice for customers to have a support number to call and for you to have an account manager that you can quickly contact. Some providers do not have phone support which costs everyone valuable time and frustration.
Put PUREfac Managed Payment Facilitation to Work for You
Are you a software provider looking for a change? Wanting more control over your payments process? Looking for flexibility? Need to better monetize payments? Look no further, we have you covered.