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Frequently Asked QuestionsWhat is a Payment Facilitator Model?

A Payment Facilitator (PayFac) cuts the need for an individual merchant to establish a traditional merchant account. 

A software devloper (ISV) registers with an acquirer (Ascent ISV Platform) to provide payment services to sub-merchants (rental managers) who us their platform. By doing this, the software developer is acting as the “master” merchant account provider. They can now board sub-merchants (rental managers) under their own account to streamline payments for them. 

In the PayFac model, there are three main parties involved: the acquirer/software developer, the payment facilitator (Ascent ISV Platform), and the sub-merchant (rental manager). It is the acquirer‘s responsibility to provide the structure for the transaction. The PayFac acts as a go-between the acquirer and the sub-merchant (who always operates under the payment facilitator).

The acquirer works with the PayFac to initiate the sub-merchant platform. There are a few tasks an acquirer must oversee when developing this payment solution that includes:

• Application process
• Underwriting 
• Payment technology (API) integration 
• Pricing agreement
• Monitoring PayFac’s compliance

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