As companies recognize the importance of the PF model, more legacy payments providers will likely bring products to market serving businesses that choose that route. Recently, payments processor Elavon became the latest to offer a program geared specifically to payment facilitators.
The interest in the market isn’t surprising, given the potential.
Waud Capital Partners, a leading middle-market private equity firm, has announced their strategic partnership with Anovia Payments – an industry innovator in payment acceptance for small and medium-sized customers.
The use of QR codes in places such as China and India has made accepting payments easier for many small and micromerchants. And payment facilitators have a significant role to play in helping to expand electronic payment acceptance into emerging markets using QR codes.
Last week, Acting Comptroller of the Currency Keith Noreika told the audience during an address in Washington, D.C., that he thought regulating nonbanks through a federal fintech charter was “a good idea.”
Noreika, a Trump administration appointee, defended the OCC’s right to establish the charter championed by his predecessor, Obama appointee Thomas Curry, despite states’ claims to the contrary.