Inspire Commerce is proud to offer PayFac as a Service through in house and strategic partner channels.
What is a PayFac?
A PayFac is a Payment Facilitator, or Master Merchant style merchant account. If you run a company with multiple sub-merchants OR if your customers THINK they are paying someone other than your company, you are required under current credit card brand rule sets to setup your company as a Payment Facilitator (or to partner with one who can provide this service).
Inspire Commerce can provide the following Services:
- Sub-Merchant Account Boarding / Setup through a Consolidated API:
- Business Credit and Business Verification Services
- Evaluate Credit Bureau Data
- Evaluate the credit worthiness of companies and private individuals as potential sub-merchants.
- Risk Management
- Portfolio Management
- Fraud Reimbursement Services for Fraudulent Activity
- Credit Risk Management
- Security Auditing
- Account Authorization and Settlement of Funds including:
- Split Payments (including Split Authorizations)
- Account Transfers To Other Sub Merchants (For more complex Split Payments).
- Financial Administration of Credit Card and Debit Card accounts, as an alternative to ACH backed bank settlement.
- Including Issuance of Debit Cards For new Accounts and Lost Cards.