Payments Gateway
HiPay. HighRadius as a PayFac for hassle-free electronic payment acceptance for small and mid-sized companies.
Electronic payment acceptance and processing services for small and midsized merchants. Simplifies card payment acceptance and eliminates the need for the merchant to establish a contract with a payment processor.
A Payment Facilitator (PayFac) solution allows businesses to process payments on behalf of their sub-merchants under a single master merchant account. This solution streamlines the payment processing by simplifying the onboarding, underwriting, and transaction processes for small businesses and merchants.
PayFacs handle the entire transaction cycle, including risk management and compliance, ensuring that sub-merchants can quickly and efficiently start accepting payments. By aggregating sub-merchants under one account, PayFacs eliminate the need for individual businesses to bypass the lengthy and complex process of securing their own merchant accounts, thereby reducing administrative burdens and expediting the onboarding process.
Payment Facilitator solution offers significant benefits, including simplified merchant onboarding, reduced compliance burden, and faster settlement times. By streamlining the process of onboarding new merchants through a single master merchant account, PayFacs help businesses accept payments quickly.
Furthermore, PayFac solutions also provide a range of integrated payment services, such as multi-currency processing, recurring billing, and mobile payments, ensuring versatile payment options for merchants. Designed to scale with business growth, PayFac solutions accommodate expansion without major infrastructure changes.
A Payment Facilitation platform offers rapid merchant onboarding, allowing businesses to start processing payments quickly without going through a lengthy approval process. It also includes robust compliance and risk management features to protect its sub-merchants from fraud and regulatory issues.
Other features include multi-currency support, automated settlement processes, and detailed reporting tools. A Payment Facilitator (PayFac) solution offers several features that enhance the payment gateway experience for businesses, helping them optimize their operations and enhance customer satisfaction.
The PayFac model involves a primary entity, the Payment Facilitator, which manages multiple sub-merchants under its master merchant account. This setup simplifies the payment processing infrastructure by consolidating compliance, risk management, and settlement under a unified system.
In this model, the Payment facilitation platform takes the responsibility for vetting and onboarding sub-merchants, ensuring they meet compliance standards. This reduces the administrative burden on individual businesses and accelerates their ability to accept payments, making it a highly efficient system for both small and large enterprises.
By utilizing a PayFac solution, small businesses can quickly and efficiently establish sub-merchant accounts without the lengthy and complex approval processes required for traditional merchant accounts. This enables accepting payments almost immediately, accelerating their ability to generate revenue.
Additionally, the PayFac handles compliance and risk management, allowing small businesses to focus on growth without worrying about regulatory issues. This support can be crucial for startups and small enterprises looking to scale quickly while maintaining secure and efficient payment operations. Furthermore, it helps with lower transaction fees and improved cash flow due to faster settlement times.
The PayFac solution offers scalability and flexibility, streamlining payment processing setup to quickly onboard sub-merchants, ideal for enterprises with many suppliers or partners. PayFac also supports various payment methods and currencies, which is crucial for enterprises operating in multiple regions.
Enterprises can also leverage the advanced reporting and analytics provided by the PayFac to gain deeper insights into their payment operations. This flexibility facilitates smoother and more efficient B2B payment processes, enhancing overall operational efficiency. This helps in optimizing payment workflows, reducing costs, and improving overall financial management across the organization.
A traditional merchant account is a direct agreement between a business and a bank or payment processor to handle card transactions. A sub-merchant account, on the other hand, is provided by a Payment Facilitator (PayFac) and is part of a master account managed by the PayFac.
Traditional merchant accounts require extensive setup, underwriting, and direct integration with processors. In contrast, sub-merchant accounts under a PayFac simplify the process by handling risk and compliance, offering quicker onboarding and less administrative work. This approach is ideal for smaller businesses or those with limited resources.
Yes. We are an ERP-agnostic software that seamlessly integrates with all major ERPs (like SAP, Microsoft Dynamics 365, Oracle, and NetSuite). It can be easily scaled to meet the needs of growing organizations, making it a flexible and adaptable solution.
Yes, we partner with various banks and financial institutions to automatically capture payment information from all the industry-standard bank payment files and formats. Some of our banking partners are Bank of America, CitiBank, American Express, etc.
3-6 months. Our industry-defining Speed to Value methodology ensures faster time to implementation and quicker ROI through a combination of out-of-the-box functionalities, agile implementation methodologies, and a focus on outcome metrics.
Our B2B payment gateway software supports all types of major payments like credit and debit card payments, bank transfers, ACH transfers, SEPA payments and alternate payment methods.
A B2B (Business-to-Business) payment gateway is an online service or platform that facilitates the transfer of funds between business entities, often involving larger transactions and customized payment solutions tailored to B2B needs.
Security is a priority for us. Data Intercept enables secure acceptance of payment data, reducing our client’s security burden and tokenizing the data for payment processing. We are PCI-DSS compliant.
Setup fees and subscription fees. Our pricing model has two components: the one-time setup fees and a monthly recurring subscription fee. You can get on a call with us and get customized pricing according to your business needs.
Our B2B payment gateway solution can process payments in 135+ currencies, allowing our clients to charge customers in their native currency while receiving funds in the currency of choice for the business.
