A Payment Facilitator, commonly known as a PayFac, acts as a middleman between businesses (sub-merchants) and payment processors, simplifying the process of accepting electronic payments. PayFacs streamline onboarding, provide a consolidated platform for payment acceptance, manage risks, and offer value-added services. They enable sub-merchants to avoid complexities and costs associated with establishing their own merchant accounts.

Payment facilitation involves streamlining payment acceptance, simplifying onboarding for sub-merchants, managing payment risks, aggregating transactions, and offering value-added services. Benefits for merchants include faster payments, reduced complexity, cost savings, enhanced payment experiences, and scalability.

Choosing the best PayFac involves considering factors such as industry experience, integration options, supported payment methods, security measures, pricing structure, customer support, and scalability. Monay from Tilli Software is highlighted as a trusted payment facilitator, offering streamlined onboarding, comprehensive payment options, security, and scalability.