Stripe provides a way for you to whitelabel and embed payments and financial services in your software. Potential risk of financial loss; Customer support burdens; Integration demands; Approval process to become a PSP can be somewhat burdensome; Compliance with KYC /PCI and potential tax reporting MONEI is a PSP, which is a type of payfac. ISOs may be a better fit for larger, more established businesses. In this the ninth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, Host Bob Butler interviews Jorge Lozano, VP of Underwriting and Lloyd Fernandez, VP of Product at Payrix, about all of the decisions a software company must make when embedding or integrating payments. You own the payment experience and are responsible for building out your sub-merchant’s experience. Who Gets Involved in the PayFac Scene? There are five main elements which compose the payment facilitator landscape. From ecommerce, to grocery, to furniture and household, we’ve got solutions to support your business. Lean on our payments expertise and offer your customers an end-to-end solution. May 1, 2023 In this article, we’ll attempt to cover almost everything you need to decide which payment solution is right for you: a Payment Facilitator or a Payment Processor. 1. One, the absence of a UMD (Universal Media Disc) drive on the PS Vita. Aggregate processing means the funds from transactions are paid out to the PayFac first, who then distribute them to. Payment tokenization is the process of replacing sensitive payment data, such as the primary account numbers (PAN) of a debit or credit card, with a unique digital identifier, called a token. Blog. Visa, Mastercard) around 2011 as a way for aggregators to provide more transparency into who their sub-merchants were. The payfac’s streamlined onboarding process enables the business to quickly start accepting payments. An MoR acts as a payment processing service that is essentially a reseller of the merchant’s goods or services, and a payfac assumes responsibility for establishing and managing the relationships that the merchant needs to start taking payments. Demystifying payment provider terms: Partnering with a PayFac vs PayFac-as-a-service You might have heard the terms PayFac partnership, managed payment facilitation, managed payment solution, outsourcing to a PayFac, PayFac-as-a-service (PFaaS), PayFac-in-a-box, or PayFac-as-a-whatever—but when it comes down to it, all of these terms mean. A PSP is a company that offers merchants a range of payment processing solutions. @wepay. UK domestic. And the cameo makes it all come together! Thanks, Timmy Nafso for having me. PSP & PayFac 101. k. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. The PSP is an amazing piece of handheld history, but how does it stack up in 2023? This video is an extensive look at buying, modding, and gaming on a PSP in. November 10, 2021. Consequently, only the PSP’s payment application (which does have the encryption key) is capable of decrypting the swipe. This solution includes hosted payment pages; one-time, subscription, and one-click billing solutions; risk management; affiliate tools, and end-user customer support. Visa, Mastercard) around 2011 as a way for aggregators to provide more transparency into who their sub-merchants were. The titles of the various sections of the template are almost identical, even in the order, to the sections of the EU PIP template for the scientific document (parts B to E). What’s the distinction between Payfac and PSP? A payment Facilitator is a third-party payment service provider (PSP). A Payment Facilitator [Payfac] is essentially a Master Merchant that processes credit and debit card transactions for sub-merchants within their payment. agent A specified good or service is a distinct good or service (or a distinct bundle of goods orPayfac infrastructure company Finix announces that it is now operating its own payfac and competing directly with Stripe and others in offering payment processing services to independent software vendors (ISVs). Generally, if your main goal is 8 and 16bit emulation then the psp does this as well as the vita. Contracts. This means that a SaaS platform can accept payments on behalf of its users. A guide to marketplace payments. ISOs never directly touch a merchant’s money as the money will flow directly from the payment processor to the merchant’s merchant. Evaluate how your customers experience your AR process. ISOs and PFs may occupy similar space, but their fundamental differences set them apart from each other. Identify your AR goals and ideal outcomes. ISOs mostly resell merchant accounts, issued by multiple acquiring banks. LTV:CAC Ratio = $1. Cons. payment facilitator (payfac) MoRs and payfacs both play significant roles in the ecommerce payment process, but their responsibilities and the scope of their services differ. A rental payfac model can require up to $3 million in setup costs and an additional $1 million to $3 million in annual costs. The payfac part you described is clear, thanks! What confuses me is that as far as I understand, a PSP can also explore working with a BIN sponsor (an acquirer / a principle member of Visa/MC) so they dont have to get the acquiring license themselves, but in this model they can get into the fund flow since the BIN sponsor would settle to them - this is similar to PayFac model so I’m trying. Thanks to its flexibility and profitability, PayFac model seems to perfectly adjust to the present-day market requirements. To your customers, the payments experience is seamless and fully integrated with your SaaS platform. Payment Service Provider (PSP) is like a Pay-Fac, but where you get your own Merchant Account (meaning your business passes credit check / underwriting process). The terms payment service providers (PSP), payment facilitators, and payment aggregators can have slightly different meanings depending on the region, but they refer to similar. Payment Facilitator (PayFac): 大商户模式，是商户而不是收单机构。. As with all feature deprecations, PodSecurityPolicy will continue to be fully functional for several more releases. The Vita ditches that technology for cartridges and digital downloads instead. As a result, it would link the merchant and the acquiring bank. 27k ÷ $425 = 3. A Payfac provides PSP merchant accounts. One downside is, they have limited control over disbursement. 21 starts the deprecation process for PodSecurityPolicy. For large payment facilitators. The payfac part you described is clear, thanks! What confuses me is that as far as I understand, a PSP can also explore working with a BIN sponsor (an acquirer / a principle member of Visa/MC) so they dont have to get the acquiring license themselves, but in this model they can get into the fund flow since the BIN sponsor would settle to them - this is. In contrast, PayFacs have one or two processor relationships and onboard ISVs as referral agents. Anyway, the three different concepts do exist, no matter how you might call them. But regardless of verticals served, all players would do well to look at. Call us on 01332 477 853. PSP-1000. e. LTV/CAC ratio = $80 / $10 = 8. retailers. Stripe’s payfac solution. Stripe provides a way for you to whitelabel and embed payments and. The payment facilitator model was created by the card networks (i. Payment Facilitator. With an integrated payments partnership, you don’t need endless development hours or a huge IT staff to get started. Many large banks, for example, issue credit. In this article,. It’s used to provide payment processing services to their own merchant clients. Here are some pros and cons of Payment Aggregation: The disadvantages to the Payment Facilitator model. Technology has fundamentally changed how businesses, acquiring banks, and card networks work together. Two, there's a big touchpad on. “Plus, you have a consumer base that is extremely savvy when it. Take the time to fully understand how PayFac works before committing to. Contact. the scheme and interchange fees). Embedding payments into your software platform is a powerful value driver. Optimize your finances and increase automation with our banking infrastructure. See our complete list of APIs. And acquiring banks, particularly the larger ones, sometimes offer payment processing services to their merchant clients. So, the main difference between both of these is how the merchant accounts are structured and organized. In contrast, a payfac-alternative model with limited responsibilities can cost as little as $200,000 to $800,000 up front and $0. Products. When you start accepting payments online, you need a merchant account from a payment facilitator with sufficient infrastructure and proper compliance to process payments . We have APIs for all business types, whatever your size or location and whether you take payments online or at point of sale. This can include card payments, direct debit payments, and online payments. The disease affects an estimated 10. Typically, it’s necessary to carry all. A PayFac services a portfolio of sub-merchants under a unified master merchant account. 70. Visa vs. Global expansion. Here are several benefits: As a hybrid PayFac, your company can handle client onboarding in minutes or hours instead of the usual 48-72-hour time-frame required for merchant account setup. A payment processor is a company that works with a merchant to facilitate transactions. PAYMENT FACILITATOR What is a payment facilitator? A payment facilitator, also known as a “payfac” or payment aggregator, is a payment model that has grown tremendously over the past few years. A Payfac provides PSP merchant accounts. An ISV can choose to become a payment facilitator and take charge of the payment experience. We're here for you 24/7, and offer guidance with even the most complex payment stack. PayFacs are generally more suitable for smaller businesses or those looking for a streamlined, integrated payment platform with faster funding times. PayFac is software that enables payments from one vendor to one merchant. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by creating a sub-merchant platform. When PayFac became a buzzword among software platforms and the many businesses trying to sell to them, the meaning of the word started to blur. A payment facilitator (or payfac) is the owner of a master merchant identification number who registers merchants as sub-merchants and enables their payment acceptance. e. Onboarding workflow. Impulsive behavior, or laughing or crying for no reason. e. A payment processor serves as the technical arm of a merchant acquirer. Stripe and Square are two examples of well-known PayFacs that are incredibly popular with business owners in a wide variety of industries. Re-certification process has to be initiated every time when a new hardware device, using a different EMV kernel is added to the previously certified EMV-processing pad. What ISOs Do. In this hybrid payment facilitation model, the Payfac payment service provider becomes a Payfac with Sponsor Banks; they act as a master merchant account and are able to set up sub-accounts for merchants same-day. The PayFac, he said, has emerged, and evolved from its 1990s underpinnings where merchant acquirers had handled that merchant enrollment, boarding, underwriting and even settlement. The Payment Aggregator can quickly onboard a new merchant (typically a user of the SaaS offering) and they can begin. 20 November 2023 / 15:10 GMT. 2. With a. “So if you don’t set that up correctly on day one, you are putting yourself at risk, whether it’s something as simple as elevated chargebacks and consumer dissatisfaction all. MSP = Member Service Provider. Provision of digital audio and video content streaming services to. The Visa Global Registry of Service Providers is the payment industry's designated source for information on registered and compliant agents that provide payment-related services to Visa clients and merchants. These nerve nuclei are often found in the brainstem and can impact vision, swallowing, speech, and more. To fully understand the benefits of the payment facilitator model, it’s important to first take a look at what goes into creating a standard payment processing agreement. 1. You will also not have the same reporting requirements by the card brands. Instead, in the PayFac model, a small business gets a submerchant account under the master merchant. PayFac vs. Payfac as a Service providers differ from traditional Payfacs in that. All ISOs are not the same, however. We would like to show you a description here but the site won’t allow us. A PayFac, or payment facilitator, is a merchant services model that streamlines the merchant account enrollment process by onboarding a merchant as a sub-account under the PayFac’s master account. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. Types of merchant of record In the current downturn, said Mielke, the PayFac or ISV that is diversified will be better positioned to weather the storm. 1. In short, a PayFac or payment facilitator, is a master merchant that supports sub-merchants. €0. It looks like you’re processing their payments, but your partner is absorbing the risks, build-out. They are then able. The hardware. September 28, 2023 - October 6, 2023. Another way to think about this result is that for every $1 spent on sales and marketing, the company generated $3. Supports multiple sales channels. As the name suggests, this is the entity that processes the transactions. Assessing BNPL’s Benefits and Challenges. 3% vs 60. That said, some organizations, like Stax, don’t differentiate between the two. Find a payment facilitator registered with Mastercard. They offer payments to their merchant customers, known as submerchants, through their own links with payment processors. Stripe. We support a variety of payment channels, so your customers can pay with the method of their. Connection timeout. Stripe provides a way for you to whitelabel and embed payments and financial services in your software. It's rather merging into one giving the merchant far better control. With MONEI, you can diversify your omnichannel payment stack through a single platform. A sub-merchant platform involves a Payfac that has been pre-approved for one master merchant account with an acquirer, like TD. What is a payment facilitator? A payment facilitator, also known as a “payfac” or payment aggregator, is a payment model that has grown tremendously over the past few years. We find some, (fewer every year) merchants look at the long-term TCO on buying vs. As a PayFac, Segpay handles the sub-merchant onboarding and provides a fully managed payment processing solution. Clear. Welcome to "Embedded: Unveiling Payments Latest Innovations," the revolutionary podcast brought to you by Fortis. Blog. 5%. Join us on this captivating journey into the world of payments technology as we showcase our latest products and delve into the forefront of innovation. This article is part of Bain's report on Buy Now, Pay Later in the UK. Instead of going through the lengthy and expensive process of setting up multiple integrations, you can save time and money by using MONEI to accept all the payment methods you’ll ever need. The terms payment service providers (PSP), payment facilitators, and payment aggregators can have slightly different meanings depending on the region, but they refer to similar types of entities. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by. This crucial element underwrites and onboards all sub. We feel that people, asking such questions, just want to implement payment processing logic, similar to. Onward!IndexCode Connect: FIS Code Connect is an API Marketplace or API Gateway, which provides one-stop access to all APIs across FIS. This was around the same time that NMI, the global payment platform, acquired IRIS. Settlement must be directly from the sponsor to the merchant. Get your business in order. One classic example of a payment facilitator is Square. In this model, the issuer (having the relationship with the cardholder) and the acquirer (having the relationship with the Merchant) is the same entity. payment processor question, in case anyone is wondering. It manages the transfer of funds so you get paid for your sale. The payment facilitator model was created by the card networks (i. Becoming a Payment Aggregator. Payment aggregator vs. Many ISVs are moving towards the value of Payfac by actually becoming Payfacs themselves. THIRD PARTY AGENT An entity that provides payment related services on behalf of a Visa Client. As PSPs must pay acquirers and banks and still have some profit margin, the fees can be higher than what can be directly negotiated with banks and acquirers. But for this purpose, it needs to build a strong relationship with an acquirer that will underwrite it as a PayFac. In essence, PFs serve as an intermediary, gathering. Besides that, a PayFac also takes an active part in the merchant lifecycle. 1. But like with any payment option, there are different Payfac models to choose from. First, a PayFac needs to establish a partnership with an acquiring bank, and get sponsorship to process payments for sub-merchants. Amazon Pay. 3. This is a clear indicator that fraud monitoring should be a priority in 2022 and beyond, and why it’s vital to work with a PayFac like. But regardless of verticals served, all players would do well to look at. Become your customer’s single provider for software and payments processing. Finix launched as a software company building a turnkey infrastructure platform to help other software companies bundle. Contact our Internet Attorneys with the form on this page or call us at 855-473-8474. The number of Payfacs is estimated to have grown by 13. PayFac or the Payment Facilitator is the third-party payment services provider (PSP). A PSP is a company that offers merchants a range of payment processing solutions. 3. A card acquirer maintains the merchant’s account to accept payments for them, whereas a payment processor is only responsible for processing payments; merchants are not dealing directly with the processor during the. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. At the same time, Paragon Payment Solutions assumes the majority of risk and responsibilities related to operational expenses, chargebacks,. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. Each of these sub IDs is registered under the PayFac’s master merchant account. The payfac has a more specific focus on the payment processing element. Gateways charge fixed fees per transaction, whereas payment service providers charge both fixed. a Payment Service Provider (PSP), aka a Payment Facilitator (PayFac). 5% residual revenue on every transaction processed. See Bambora: PayFac vs Gateway vs Merchant Account PSPs In-between an ISO and a Pay-Fac. On balance, the benefits are substantial and the risks manageable. 3. What is a merchant of record? Read article. Square has been one of the most disruptive technology companies in the past decade, yet they recently caught the media’s attention for the wrong reason. A payment facilitator is a company that allows their customers to accept electronic payments using the payment facilitator’s infrastructure. Payfac or Payment Processor—Which is Right for You? A decent rule of thumb is that if your business does less than $1M per year in revenue, the convenience and simplicity of a payment facilitator may make sense. Understanding the differences between them and choosing the best approach can help businesses build a well-functioning payment system. If you need to contact us you can by email: support. In almost every case the Payments are sent to the Merchant directly from the PSP. Connecting customers to trustworthy payment options is a win-win for you and your customers. CAC = $10,000 / 1,000 = $10. As well as reducing the administrative burden for sub-merchants, PayFacs have the flexibility to completely customize their payments program. Payment facilitation, or “payfac,” continues to grow in popularity among software providers and is designed to facilitate payment card acceptance without requiring individual merchants to go through the lengthy process of establishing traditional merchant accounts. Beyond PSPs, companies exclusively positioned as payment. One of the reasons for this phenomenon is that many companies (including former independent sales organizations (ISO)) find it more profitable to combine the functions of an online gateway provider and a merchant service provider (MSP). Many online and physical businesses avoid the headache by using a one-stop-shop payment service provider (PSP) that has built-in merchant acquiring services. For financial services. S. What is a payment facilitator? Today, many platforms and marketplaces help merchants accept payments by providing online services for companies of all sizes. A Quick Overview of What Provisional Credit Entails. Very few PayFac as Service providers publish pricing to sub PayFac’s and there is a reason. 20 (Processing fee: $0. Proven application conversion improvement. ISO. TabaPay View Software. In the PayFac model, banks that monitor PayFacs are called Acquiring Banks. ISOs function only as resellers for processors and/or acquiring banks. subscribing, and for some of these “old heads” (I’m in that group…. ISO or PayFac: What’s the difference? There are two types of merchant account providers: independent sales organizations (ISO) and payment facilitators (PayFac), also known as payment service providers (PSP). ISOs may be a better fit for larger, more established. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. PSP-3000. United States. Don’t let this be you. apac@bambora. A Payment Facilitator, or PayFac, is a company that provides payment processing services to merchants looking to accept credit and debit cards. In a traditional onboarding process with an Independent Sales Organization (ISO), the merchant must first. An ISV can choose to become a payment facilitator and take charge of the payment experience. Mike has launched and sold many multi-million dollar brands and the companies he has founded have done more than or sold for a combined $100 million in revenue and sales. facilitator is that the latter gives every merchant its own merchant ID within its system. But for this purpose, it needs to build a strong relationship with an acquirer that will underwrite it as a PayFac. You own the payment experience and are responsible for building out your sub-merchant’s experience. By Drew. Our suite of tools and services offers a choice of funding options, settlement, revenue generation, and risk management capabilities for payment facilitators. Square has been one of the most disruptive technology companies in the past decade, yet they recently caught the media’s attention for the wrong reason. While both types of merchant account providers can assist you with equipment and services, an ISO will provide you with your own merchant account, whereas a. It has to provide both merchant services and a payment solution. The payment processor also typically provides the credit card. While both types of merchant account providers can assist you with equipment and services, an ISO will provide you with your own merchant account, whereas a. With the exception of processors catering to high-risk industry, they also offer month-to-month billing. 8–2% is typically reasonable. While both services provide the same basic. PayFac vs ISO: 5 significant reasons why PayFac model prevails. As your true payments partner, we provide you with an entire division of payments experts essentially in house. This is. Types of merchant of recordIn the current downturn, said Mielke, the PayFac or ISV that is diversified will be better positioned to weather the storm. Collect key details about your business. If necessary, it should also enhance its KYC logic a bit. An ISO is a third-party company that refers merchants to acquiring banks or payment service providers. From recurring billing to payout, we’re ready to support you and your customers. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by creating a sub-merchant platform. One FTE is sufficient until $250M in processing volume, then you’d need to add more bodies. 1. You own the payment experience and are responsible for building out your sub-merchant’s experience. Payfacs typically don’t perform their underwriting for weeks to months after. Overall responsibility for the P & L and ultimate growth of PayFac channel within Integrated Payments. However, there are instances where discrepancies arise. The speed at which a merchant can start processing payments with a PayFac is vastly different than the rate at which this could be done in the legacy ISO model. Some ISOs also take an active role in facilitating payments. The PSP is no longer manufactured, but you can find used models on eBay and other places selling previously owned electronics. If your rev share is 60% you can calculate potential income. Payment facilitators conduct an oversight role once they have approved a sub merchant. Identify gaps in your AR practices to understand where you have room to grow. Progressive supranuclear palsy (PSP) is a complex condition that affects the brain. A payment aggregator is a 3rd-party payment service provider (PSP) that allows merchants to process payments without having a merchant account. The average revenue per customer is $50, and the direct cost of filling each order is $30. Third-party integrations to accelerate delivery. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. The differences are subtle, but important. responsible for moving the client’s money. Kubernetes 1. Any way you look at it, the Vita is a slick-looking handheld. It provides a technology, allowing to authorize transactions and, potentially, receive transaction settlement information. PSP & PayFac 102. The current plan is to remove PSP from Kubernetes in the 1. Without a. Thus, it. Both aggregators and facilitators offer similar benefits from the perspective of the end-user. Besides that, a PayFac also takes an active part in the merchant lifecycle. But that’s where the similarities end. Another option to generate a profit from payments is to consider becoming a referral partner for an existing payment facilitator. Payment facilitator model is becoming increasingly popular among many types of companies. Generate your own physical or virtual payment cards to send funds instantly and manage spending. com. Difficulties with reasoning, problem-solving and decision-making. It's more than just support. 5 would go to the PSP, and $1. WorldPay. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. 2. responsible for moving the client’s money. PayFacs work under one or more payment processors, operating in a layer of the industry between processors and merchants. The term “merchant of record” refers to the entity that is legally authorized and responsible for processing customer payments —including credit and debit card transactions and digital wallet transactions —for goods or services on behalf of a business. May 24, 2023. It used to take weeks to get a merchant account, but then Payfacs came around and simplified the enrollment process by creating a sub-merchant platform. PSPs act as intermediaries between those who make payments, i. There's not a huge amount to look at on the back of the PSP and PS Vita. A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit cards and debit cards payments. a merchant to a bank, a PayFac owns the full client experience. Incorporated in 2017, Varanium Cloud Limited, previously known as Streamcast Cloud, is a technology company focused on providing services surrounding digital audio, video, and financial blockchain (for PayFac) based streaming services. Though existing since the 1990s, the number of payment facilitation platforms has recently soared to become an essential link in the ecommerce chain. The PF may choose to perform funding from a bank account that it owns and / or controls. Hurry up and add some widgets. They typically work with a variety of acquiring banks, using those relationships to "resell" merchant accounts to merchants. It needs to obtain a merchant account, and it must be sponsored into the card networks by a bank. For SaaS providers, this gives them an appealing way to attract more customers. Reducing. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. Companies like NMI and Spreedly are. Payment aggregator vs. The second type is a more modern, technology-first payfac solution from a commerce provider like Stripe. Payments facilitator or payfac are in essence a third-party entity which operates as a payment services provider (or PSP). It's collaboration—and there's not a chatbot in sight. Just to clarify the PayFac vs. And this is, probably, the main difference between an ISV and a PayFac. ”. On the other hand, a PayFac is a company that simplifies the payment process for sub-merchants by providing a. Psp games, on the vita, can look less sharp and some emulators run within the psp emulation Adrenaline. Mastercard PayFac Models: The Ins and Outs of the “Big Two” Payment Facilitator Programs. Jorge started his payment journey 15 years ago. It doesn’t have to be this complex and expensive. Is a Payment service provider and payment gateway the same? Both ISOs and PayFacs make payment processing more accessible for small and high-risk businesses by acting as intermediaries. Here, ISOs (Independent Sales Organizations if on the Visa network), or MSPs. Customer contribution margin = $50 – $30 = $20. add some widgets. An ISO, at its most basic level, is an intermediary reseller. See moreA payment facilitator (payfac) is a type of merchant services provider that simplifies the payment process for businesses. PayFac vs ISO: which one to choose for your business? Read article. For retailers. It would open a sub-merchant account for the merchant and have a contract with the acquiring bank. 5. Overall responsibility. Refer merchants to Chase. Fueling growth for your software payments. According to experts, Uber and AirBnB rely on the services different gateway partners in different parts of the world. 2. Let us take a quick look at them. Love this new series on Embedded Commerce and debunking the PayFac myth. Small/Medium. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. Because of their access to partnership, larger ISOs typically have more payment options, more flexibility, and. We can regard PayFac model expansion as “survival of the fittest”. Abacre Abacre Restaurant Point of Sale is a new generation of restaurant management software for Windows. PayFacs have the. on demand when end-of the day settlement message is received. A major difference between PayFacs and ISOs is how funding is handled. Connection timeout usually occurs within 5 seconds. 20) Card network Cardholder Merchant Receives: $9. Payment Facilitator (PFAC, PayFac, PF): A merchant service provider who can facilitate transactions and simplify the merchant account enrollment process on behalf of the sub-merchant.