Payment Facilitator and Acquirer: “Beginning of a Beautiful Friendship”
Payment facilitator model emerged around 2010. During the decade that followed it triggered powerful changes within merchant services landscape. One of the effects we can see is rapid replacement of independent sales organizations by PayFacs, because payment facilitation services range far beyond ordinary ISO’s functions. Statistics, gathered by Statista company, indicated that during the 2016-2017 period PayFac-generated revenues doubled (jumping from $200 to $400 million). Before economic recession 2020 , forecasted value of PayFac revenues for 2021 amounted to $4.4 billion. Despite (or as a result of) the impact of coronavirus on economy, many businesses might decide to go online and focus on electronic payments, boosting the demand for PayFac services. So, some payment facilitators might retain their revenues or even profit. Payment Facilitator and Acquirer: Symbiotic Use Case Many analysts try to apply Darwin-style theories to explain the success of PayFa...
