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Banking Relationship with Pay Fac

Question asked by kwanderson5 on Jan 7, 2020
Latest reply on Jan 16, 2020 by dtepoorten

I am with a community bank and working with a company that is hoping to establish a Pay Fac model. They have came to us asking for assistance and I am trying to work through that. What does the typical bank/Pay Fac relationship look like?

 

In addition, our current merchant services provider does not allow 3rd party processing, so utilizing them for our customer is not an option. What options exist in this area?

 

Any information would be greatly appreciated!

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