In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.
Infinicept announced this week that it had completed a new funding round led by card brand Mastercard and investment firm MissionOG. The company will use its latest funding to expand its product, sales and marketing efforts.
PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
Whether a transaction originates online or in person, completing it safely requires connecting to and securely sharing data among merchants, banks and card networks. Payment processors are the technology companies that sit in the middle of this process.
While payment facilitators are known for their ability to reduce friction and to quickly underwrite and onboard new merchants, not all merchants are created equal. Some require more due diligence and ongoing risk monitoring than others.
In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.
Despite the current economic uncertainty, payment facilitators are still attracting a lot of interest from investors.
PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
SafeCharge has joined with Visa to introduce alternative ways for small businesses to accept digital payments in response to the pandemic. The new solution is called SafeCharge Local, and it enables merchants to accept payments without having to have an online store or a physical POS terminal. I
Payment facilitators have a number of tools they can use to reduce their exposure to risk. To mitigate against credit risk, PFs will sometimes hold back funds from the submerchant – known as a reserve – to guard against possible future losses. When are reserves typically used, and is now – as many businesses are experiencing financial hardship because of the coronavirus – a time to implement them?
In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.
In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.
