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ISV vs PayFac: The Similarities and Differences Between Independent Software Vendors and Payment Facilitators

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It involves a complex ecosystem of financial institutions, including acquiring banks, payment processors, and card networks, alongside technology providers and regulatory bodies. Payment processors handle transaction authorization, settlement, and security, ensuring seamless and secure payment experiences.

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What Is an ACH Payment Facilitator?

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PayFacs typically partner with a payment processor or a bank to provide merchant services. This enables business owners to accept payments directly through their SaaS platform without needing a Merchant ID (MID)—as is the case with traditional merchant account providers.

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