Payment processor First Data has launched a new e-commerce program for payment facilitators that it’s calling Global PFAC.
As part of First Data’s e-commerce suite of products, Global PFAC offers a single integration interface that allows merchants to settle and fund transactions in more than 40 countries and 17 currencies, the company said.
“Payment facilitators need to be nimble, agile, and have access to proven technology to achieve global scale, especially as eCommerce has opened the door for companies to do business worldwide,” Shane Fitzpatrick, global head of eCommerce at First Data, said in a press release.
“First Data’s Global PFAC solution empowers merchants to do business wherever they want, whenever they want, while streamlining the administrative burden of enabling payments around the world.”
The solution offers two options depending on the needs of the payment facilitator and its merchant base. They can manage all their submerchants with a single account or use separate accounts for each one.
In addition to payments processing and currency conversion, the program offers security and fraud detection, underwriting services and reporting.
Fitzpatrick acknowledged the growing role of payment facilitators in delivering services to consumers.
“The market is changing rapidly, and companies across a variety of industries are increasingly acting as payment facilitators,” he told PaymentFacilitator.com. “As customers have come to expect a seamless payment experience, these companies – from ride sharing to home rentals – need to find a way to deliver it. We recognize this trend and expect that payment facilitators will continue to grow in significance.”