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How Payment Facilitation Works: An Overview for SaaS Providers

Exact Payments

The world of payment processing has evolved rapidly since the early days of credit card payments. Issuing banks Issuing banks, or issuers, are entities that issue customer credit cards and handle the transfer of funds to the merchant’s account.

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PayFac Model 101: Payment Facilitators Explained

Exact Payments

Acting as intermediaries between acquiring banks and merchants, ISOs sign up merchants with their own merchant processing accounts and resell payment software and hardware. The ISO model thrived at a time when brick-and-mortar merchants needed a way to accept credit cards in person.