Since 1990 the Institute has tracked sustainability, health and wellness on a. What is a PayFac? A payment facilitator (PayFac) is a type of merchant acquirer that provides processing services to companies looking to accept card payments. What is a payment facilitator (PayFac)? Essentially, PayFacs use the acquiring license of another company to provide payment services to sub-merchants. We handle partial payments, automatic failed payment retry, and automatic payment recovery. Release Summary. Create new revenue. Our highly skilled specialists take. It’s ideal for those in need of reliable credit card payment solutions. [email protected], just as seen in Europe, several PayFac had thrown their hats into the payments ring and sought to simplify the path for merchants to offer a broader range of functionalities. Get the insights you need to build authentic relationships with your donors. is the future — we get you there now. | Payments Facilitators (PayFacs) are one of the hottest things in payments. In essence, a PayFac is an agent for a payment processor, but a unique twist to the PayFac. We help customers accept card payments, trade securely and get paid fast. Full commerce is the future — we get you there now. NMI Integration. 303. A Payment Facilitator, or PayFac, is a sub-merchant account used by merchant service providers to provide payment processing services to their own clients, known as sub-merchants. Period. As a result. Till using this comparison chart. This solution involves you partnering with either (1) an acquiring bank or (2) an acquirer and a payment facilitator vendor. Partnering with. 9% + 30¢. Banking relationships matter: Whether a subscription provider is acting as an ISO or PayFac or simply passing leads on to an acquirer in a referral arrangement matters. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an. Contact our Internet Attorneys with the form on this page or call us at 855-473-8474. ETA announced the selection of nine young professionals to participate in the 2022 ETA Young Payments Professionals (ETA YPP) Scholar Program. Braintree became a payfac. This table provides a summary of the Length or Distance units within their respective measurement systems. In banking and payments, ISO stands for independent sales organization – a type of merchant services company that acts as an intermediary and matches merchants with the payment processing services they need. Offline Mode. The strategic investment will enable a full suite of commerce experiences and engagement models for technology partners looking to. Network Merchants Incorporated, also known as NMI, is a trusted payment gateway service catering to businesses of all types. for manually entered cards. Renew payfac registration and licenses: Re-register as a payfac with card networks annually, and update or renew MTLs on the required cadence. NMI user reviews from verified software and service customers. NCMI. Payrix is the only PayFac ® as a service platform built by a payment facilitator, exclusively for software platforms. 1 billion for 2021. In banking and payments, ISO stands for independent sales organization – a type of merchant services company that acts as an intermediary and matches merchants with the payment processing services they need. New Covenant Ministries International. NMI payment facilitator enablement (FACe): a one-stop solution . A payfac is a type of payment aggregator, but it typically provides a more comprehensive suite of services. There are dozens of article we could point to, like the formal UK parliament report that shows ATMs declining 21% in number from July 2018 to May 2022, but it doesn’t make more than a grade school education to connect the dots here. Today, instead of software providers depending on ISOs for payment processing, many become ISOs themselves. For example, an artisan who sells handmade jewelry online may find the process of setting up their own merchant account daunting or unnecessary, given their lower transaction volume. 02 (Processing fee (monthly)) $0. Article September, 2023. Wait a moment and try again. 1. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. In a session on the ins and outs of starting a payfac at the second annual Payment Facilitator Day at Transact16 in April, Kevin Harris of RunSignUp said training people was more of a challenge than software concerns, and David Weiss of Yapstone shared the difficulties of international expansion. Business software platforms typically solve a business problem for a merchant, such as appointment scheduling. 4. Compare the best Payment Facilitation (PayFac) platforms in India of 2023 for your business. The merchants it recruits become “sub-merchants,” processing their transactions through the PayFac’s master merchant account. Once a recipient’s Digital Check arrives in their. In 2021, global payment facilitators processed over $500 billion in transactions – a 75% increase over the previous year and an 11x increase over the total just half a decade earlier. This was an increase of 19% over 2020, with. Payment facilitation (also known as PayFac) is a type of payment processing platform that acts as an intermediary between businesses, customers, and credit card issuers. 65. Thinking about the three-to-five-year strategic plan — geographics expansion, adjacent services and products, and even new end customers — can help sharpen the focus on PayFac options, she said. By Michael Bradley, Senior Vice President of Growth, Infinicept The embedded payments conversation right now is downright confusing. PayFac-as-a-Service (PFaaS) models like our Cardknox Go solution deliver tremendous value to businesses that want to integrate payments into their offerings, including instant merchant onboarding, more control over the customer experience, and increased earning potential. James shared his take on the stepping stones and. You may likely serve a diverse array of customers, from large enterprises to individuals on “freemium” plans. A payment facilitator or payfac is a service provider that affords small and medium-sized merchants the means to process debit or credit card payments more quickly, efficiently, and securely, allowing them more room to focus on their core business objectives. PayFac platforms enable merchants to accept payments from customers in real-time, allowing them to instantly process payments and quickly receive funds. IRIS CRM is the world’s leading customer resource management platform designed specifically for the payments industry and independent sales organizations like yours. These transactions are between Sub- Merchant and theirPayFac vs merchant of record vs master merchant vs sub-merchant. com. TINLEY PARK, IL —August 17th, 2020 – Payroc LLC and its affiliates (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today that their Canadian Integrated Payments Platform (Caledon) has partnered with NMI, a. The world of payment processing has its fair share of acronyms, and two of the most popular are PayFac (Payment Facilitator) and ISO (Independent Sales Organization). Even within the payments industry, ISOs and the role they play are. With a strong focus on flexibility and customization, NMI offers a seamless approach to handling payment data, especially for online payments. A payment facilitator (payfac) is a service provider for businesses that simplifies the merchant-account enrollment process. com Release Summary NMI to acquire Creditcall to gain global presence, access new markets, enhance EMV and omnichannel. com. Block 1, Blanchardstown Corporate Park, Dublin 15, D15 AKK1. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. PayFac vs merchant of record vs master merchant vs sub-merchant. At Revision Legal, we protect businesses that thrive online, and understand the connections between law, technology, and business. Payfacs work by having a master merchant account (and a master MID) through its relationship with acquiring banks. 6. PayFac. A payment processor facilitates the transaction. The core of their business is selling merchants payment services on behalf of payment processors. Fourth quarter revenue grew 1%, and full-year 2022 revenue grew 5%. Part 1 charted PayFac’s evolution from “fast onboarding for ISOs” to more nuanced, vertically focused, customizable solutions. This is especially important—and potentially complex—for SaaS companies considering payfac-as-a-service. By using a payfac, they can quickly. A payfac is a platform that intermediates payments between consumers, payment operators (card operators, banks, PSPs, etc. ISVs still rely on a simple referral model for monetizing payments. Grow your revenue by offering more value to your merchants using NMI’s full commerce enablement platform. Nazarene Compassionate Ministries, Inc. Enable customers to easily send money to family and friends - anywhere, anytime. Essentially, a payfac is a company that allows its customers to accept electronic payments using their platform. Gateway Service Provider. com Release Summary ISOs, fintech innovators and technologists can now power payment acceptance across all points of. 9 percent and 30 cents (no markup needed) You pay the payment facilitator – 2. Network Merchants, Inc. NMI Logins. Create new revenue. From 2003 through 2011, Adam ’ s role was focused on the development of larger and more complex eCommerce merchants, which remains one of. Moreover, NMI processes billions of dollars in payments yearly, making it one of the most significant gateways worldwide. Atlanta-based Rainforest has had a strong first year in business. Adam brings over 20 years of experience to Payroc ’ s executive team and is one of the original founders of Payroc in 2003. In fact, they broke the mSubscribe or log in to read the rest of this content. With Payrix Pro, you can experience the growth you deserve without the growing pains. The payfac model is a framework that allows merchant-facing companies to. PayFacs can also provide sub-merchants with a wide variety of value-added services from NMI’s app marketplace, improving the. VacationRentPayment/Yapstone is a Payment Facilitator (PayFac), which is a sub-merchant account used to provide payment processing services to their own merchant clients. 10 Ratings. Compare price, features, and reviews of the software side-by-side to make the best choice for your business. Canada. PayPal vs. $1500. Funds are gathered under an umbrella account “for the benefit of” end-users. Payfac-as-a-service model of embedded payments Because of the substantial costs and risks associated with becoming a payfac and building out an embedded financial infrastructure, platforms are increasingly looking to payfac-as-a-service, which provides all the benefits of embedded payments in a cost-efficient way that’s. All from a single payment gateway platform. In other words, processors handle the technical side of the merchant services, including movement of funds. Discover data-backed insights for better engagement. Improve acquisition, usage and activation with instant money movement. Hosted Checkout is simple and quick to integrate. In the PayFac model, banks that monitor PayFacs are called Acquiring Banks. Get started today. We would like to show you a description here but the site won’t allow us. This is especially important—and potentially complex—for SaaS companies considering payfac-as-a-service. NMI Lisa Puchalski, 847-352-4850 x151 Director of Marketing [email protected] state law, a money transmitter is required to obtain a license in every state where it either receives funds from, or sends funds to, a resident of that state, whether an individual or a commercial entity. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be necessary. An MoR acts as a payment processing service that is essentially a reseller of the merchant’s goods or services, and a payfac assumes responsibility for establishing and managing the relationships that the merchant needs to start taking payments. Stripe is the best software platform for running an internet business. building PayFac, marketplace and software platform solutions, including real-time boarding, underwriting, and split-pay services, and we anticipate that this year will be a breakout year for Fiserv in this high-growth customer segment. A bank account opened in the end-user’s name. A nautical mile is based on the circumference of the Earth and is used by sea and air navigators. Payment PROCESSing. Firstly, a payment aggregator is a financial organization that offers. PINs may now be entered directly on the glass screen of a smartphone using this new technology. This relationship ultimately allows them to get registered as a payment facilitator, begin onboarding new customers, and allows those customers to begin accepting payments. 1w Report this post What's the difference between a payment facilitator (PayFac) and an independent sales organization (ISO)? PayFacs and ISOs fill very similar roles in the. Gain a higher return on your investment with experts that guide a more productive payments program. Donor Impact Data Hub. Payment facilitation helps. The payer making such payments to the payees does not generally withhold taxes, and the payees report and pay taxes on this income when they file their federal tax returns. In other cases, they opt for a newer option – the PayFac model. Most ISVs who contemplate becoming a PayFac are looking for a payments. Bigshare Services Pvt Ltd is the registrar for the IPO. responsible for moving the client’s money. Discover flexible, scalable solutions that fuel your growth and transform the payments experience to delight your customers. It offers the infrastructure for seamless payment processing. Part of the reason for that is the sheer volume of terms used to describe some of the approaches to the space, like PayFac ®, payment facilitator, merchant of record (MOR), embedded. A payment processor serves as the technical arm of a merchant acquirer. We recognize the importance of our Client's needs and We acknowledge. ETA is where the payments technology world does business, gets educated, engages in policy advocacy, and invents the future of commerce. The PayFac vs payment processor is another common misconception. Some ISOs also take an active role in facilitating payments. B2B. Scaling alongside rapid growth: Expanding into a new region means accessing a new, untapped customer base. Increased revenue 3% on a GAAP basis and 5% on an organic basis to $3. Their installation is virtually automatic. Payment facilitation or PayFac-as-a-Service is your best bet if your business operates in a high-risk industry. Payment connections for ISOs. Automated sub-merchant creation and management KYC service and reporting Sub-merchant accounting and Sub-merchant statements Payment facilitators (PayFacs) are companies that provide merchant services to businesses in various industries. 6638. Embedded digital payments for businesses to pay and get paid. 6638. Our APIs and SDKs simplify the integration of Terminal into your point of sale application. 0 vs. The bank may request more detailed KYC data. Stand-alone payment gateways are becoming less popular. Latest versions. NOTE: Please refrain from adding any suite numbers in the address. A recent survey by Provident Bank found that 67% of small to medium-sized businesses believe a recession may be coming in 2023, primarily due to inflation, supply chain issues and rising wages. “Paya is a reseller’s dream. Payments for platforms and marketplaces. “FinTech companies — PayPal, Square, Stripe, WePay. If your platform needs to operate internationally and support sub-merchants in other regions, partnerships with local acquirers, gateways, and other service providers may be. . Full commerce. 3 Ratings. Whether you're an ISO (independent sales organization), ISV (independent sales organization), PayFac (payment facilitator), Bank or anyone else in the industry, this whitepaper is a must-read if you’re looking to maximize your payment capabilities and build a strong partnership with your payments provider. FBO Accounts. For our enterprise merchants, we introduced several new Carat capabilities last PayFac Service and Support: Growing a large, stable portfolio of residuals requires constantly bringing in new merchants, but it also requires keeping the top producing merchants happy. 6 percent of $120M + 2 cents * 1. It is a 100% native app on Salesforce which uses the world-class secure API from Stripe for payment processing. NMI has also launched, FACe, facilitation enablement. August 02, 2022 08:30 AM Eastern Daylight Time. In between, there are overhead costs associated with moving those funds around. We are the hub of activity for financial institutions, networks, payments companies, fintechs, and technology innovators. NMI using this comparison chart. Businesses that process more than $80,000 in sales per month may qualify for discounted rates. Accept in-Person Payments. Whether you're an ISO (independent sales organization), ISV (independent sales organization), PayFac (payment facilitator), Bank or anyone else in the industry, this whitepaper is a must-read if you’re looking to maximize your payment capabilities and build a strong partnership with your payments provider. Here are some of the features: 1. Deliver the best payments experience for your merchants and their customers across every channel and every device: in-store, mobile, online or self-service. A powerful payment gateway that supports an extensive combination of devices, and operating systems for point of sale payments. Assessing BNPL’s Benefits and Challenges. Stax Connect accelerates and radically simplifies the integration of an intelligent payments infrastructure so that software companies are able to go to market faster, monetize payments, and deliver the best end-to-end experience in their industry. Cách tạo và thiết lập tài khoản PayPal nhanh chóng. September 28, 2023 - October 6, 2023. Payroc partners with NMI to provide a seamless payment experience for its ISVs, ISOs, and Payment Facilitators expanding to Canada. We went straight to the source, giving your brand enhanced control, transparency, & reporting capabilities. Unit Symbol Measurement System Description; inches: in or "US Customary Units/Imperial System: 36 inches = 1 yard:Download Now. A nautical mile is a non-SI unit of Length or Distance. Braintree pricing. . Please login below to access your Merchant portal, NMI Partner portal, WebMIS control panel or USAePay console. [3] [4] TSYS is the largest third-party payment processor for issuing banks in North America, with a 40%. Payfac: A payfac operates under a master merchant account, and creates subaccounts for each business it services. Fed to Raise Payment Services Prices 1. As per the words of NMI’s CEO, Roy Banks, in an interview with PYMNTS. Remittances. 5. Since that time, he has operated in multiple capacities to serve the company. PayFacs are also responsible for most, if not all of the underwriting required. 74; Returned $1. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. ETA announced the selection of nine young professionals to participate in the 2022 ETA Young Payments Professionals (ETA YPP) Scholar Program. FortisPay Doubles Down on Integrated Commerce Acquiring EpicPay and Change Merchant Solutions. Embedded Finance Series, Part 3. Find the highest rated Payment Facilitation (PayFac) platforms in India pricing, reviews, free demos, trials, and more. With TransLink, you don't have to imagine. Instead of each individual business needing to set up its own merchant account, a process that can be time-consuming, the payfac effectively “rents out” merchant account functionality under its larger master merchant. Clearly Payments. In the PayFac model, the PayFac itself is the primary merchant. Those sub-merchants then no longer have. There are numerous PayFac-as-a-service benefits. Taking this client mindset into account when it comes to analyzing and improving merchant processing will ensure that the PayFac experience is. Instead, the issuer withdraws the money from the merchant's acquiring bank. NMI PayFac Enablement. Start your full commerce journey Get started today. ‘PayFac’ technology simplifies underwriting and onboarding merchants One key catalyst for online payment innovation was the introduction of the Payment Facilitator, or “PayFac,” in 2010. NMI offers a broad range of payment devices for all industry verticals and applications. Once Stripe is supported in your country, you’ll be able to sell to customers anywhere in the world. Media. FBO accounts, on the other hand, allow for more customization but demand more from the company maintaining the account. Pillar 1: Onboarding and underwriting The PayFac handles all of the compliance checks on new merchant applications and ensures that they are safe to bring onto the platform. You can also use this nautical mile calculator to calculate the traveled distance based on vessel speed and. The payfac model has catapulted into the mainstream, thanks to payments disruptors like PayPal, Square, and Stripe. If you have a long or complicated checkout process, a fraction of customers will fall off. com or Paysafe Group: Amy Gregus, +1 514-294-0247 Head of Corporate Communications – North America amy. Exact Payments, a leader in embedded payment solutions for SaaS businesses, enables them to monetize payments with its turnkey PayFac as a Service solution. These PayFac-in-a-box models are also intelligently priced. Payments for platforms and marketplaces. View Software. In other words, ISOs function primarily as middlemen (offering payment processing), while PayFacs are payment facilitation. Grow your revenue by offering more value to your merchants using NMI’s full commerce enablement platform. Put our half century of payment expertise to work for you. A Payment Facilitator, PayFac for short, is simply a sub-merchant account for a merchant service provider. Access full-service, end-to-end processing capabilities, next-day funding and clearing and. Multiple acquisitions and disparate systems meant time and money wasted in managing and reconciling across over 165 locations and medical offices. An acquirer licensed by Visa and Mastercard to operate only in the United States can’t serve merchants elsewhere. Global expansion. Global expansion. A payment facilitator (PayFac) is a business that creates a master account and onboards clients through its merchant identification (MID). PAYMENT FACILITATORGrow your ISO or Payfac portfolio with REPAY! Our team of industry experts can customize a program to meet your business goals through our proprietary clearing and settlement technology, simplified pricing and robust payment platform. ISOs are an exceptionally important part of the payments ecosystem, serving a critical role that supports both their processing partners and their merchants. 28), and fourth quarter Adjusted EPS decreased 11% to $1. GETTRX Zero; Flat Rate; Interchange; Learn. “A payments facilitator (or PayFac) allows anyone who wants to offer merchant services on a sub-merchant platform. Integrated Payments 1. The Evolution of the PayFac In the rapidly changing landscape of modern commerce, the way we pay has undergone a remarkable transformation. Powerful payment solutions for businesses of all sizes. Start your full commerce journey Get started today. Exact Payments handles the heavy lifting for payment operations, allowing software businesses to grow their revenue, valuation and improve product stickiness while increasing customer. Software is available to help automate database checks and flag suspicious findings for further examination by a human. You have to add new sources of value to attract merchants and ISVs, retain existing customers and grow your revenue. What is a PayFac? A payment facilitator (PayFac) is a type of merchant acquirer that provides processing services to companies. NMI is a leading global payment enablement platform. To become a Mastercard merchant, simply contact an acquirer for a merchant account application. Crypto. 5% + 15 cents when a seller keys in the transaction in Dashboard or uses Card on File. Read on to learn how to update your account settings in the Merchant Portal. 8%, but FedNow Unaffected. Parties interested in joining the growing NMI team or learning about Matt and NMI’s unified commerce enablement platform are invited to meet at the upcoming Money20/20 conference being held at. 752. Exact handles the heavy. The PayFac would also need to hire a FTE to take exceptions and review these exceptions for risk. ACME has you covered, handling all compliance, regulations and fraud prevention so you don’t have to. 3 percent and 10 cents (interchange plus pricing plan) Your margin – 0. The launch of the platform has. The choice between a PayFac and a payment processor depends on your business needs, industry, and desired level of support. Also, it’s essential to mention that PayFac is a Mastercard model, while the one for Visa is a payment service provider. Following table lists all the latest SDK versions. First, a PayFac needs to establish a partnership with an acquiring bank, and get sponsorship to process payments for sub-merchants. Leap Payments is a leading payments company serving major brands like Best Western, H&R Block, PetSmart and others. A PayFac, or payment facilitator, was originally defined by Visa® and Mastercard® to describe the entity that is officially doing business with the card brands. ATLANTA--. A sponsor may be a bank themselves or may be a bank authorized entity that. Enabling businesses to outsource their payment processing, rather than constructing and. The Global Mission Work & Witness office at the Global Ministry Center was in contact with most of the users prior to the transition to assist them with setting up a new account with Nazarene Account. Worldpay was one of the first processors to offer payfac extensibility. There are, however, situations when the payer is required to withhold. Just the FACs: Secure Your Business with PayFac 2. Our APIs enable you to build and scale end-to-end payments experiences, from instant onboarding to global payouts, and create new revenue streams—all while having Stripe handle payments KYC. Release Summary. Episode 8 of NMI's Payment Playbook podcast is live! Join us to hear from the Director of Product Management for Agreement Express (an NMI company), Darryl Cumming. What Is the PayFac Model? The payment facilitator (PayFac) model is a relatively new trend in payments. Payfac-as-a-service is a turn-key payment facilitation model in which an external company provides businesses with the necessary tools and infrastructure to accept electronic payments, such as credit and debit cards, ACH, and echecks. For their part, FIS reported net earnings of $4. Your homebase for all payment activity. Solid Payments in 2023 by cost, reviews, features, integrations, deployment, target market, support options, trial offers, training options, years in business, region, and more using the chart below. Let’s break this down. This process prevents your company from having to apply for a MID, as you will be under the PayFac's master MID. A gateway may have standalone software which you connect to your processor(s). Another related business model is payfac enablement, fintechs that specialise in enabling software or other non-payment companies to become payment facilitators. But to banks and merchants it means something very different. Their ISO agent program is a top choice thanks to the company’s commitment to making it as easy as possible for agents to get merchants approved. Crypto. ETA is payments technology. 847. A Payment Facilitator or PayFac simplifies merchant account enrollment which allows smaller companies to quickly gain the upper hand. Restaurant-grade hardware takes on everyday spills, drops, and heat. Global expansion. gregus@paysafe. Because we eliminate needless complexity and extraneous details, you can get up and running with Stripe in just a couple of minutes. Market Research Outsourcing. Payfacs are registered independent sales organizations (ISOs) that have been sponsored by an. Seamless graduation to a full payment facilitator. There’s also Cash App, Google Pay, Apple Pay and even Facebook Messenger. ), and merchants. Through each stage of online payment processing, your pool of potential customers can gradually shrink. SwervePay. Find the top Payment Facilitation (PayFac) platforms in 2023 for your company. However, they do not assume. Co-Founder and Chief Executive Officer. Exact handles the heavy. We are diligent in our research and preparation. Once a sub-merchant has been through the onboarding process it is down to the PayFac to control payments adhering to the rules. . In 2019, TSYS was merged into Global Payments Inc. + 0. + 1. When PayFac became a buzzword among software platforms and the many businesses trying to sell to them, the meaning of the word started to blur. Compare Braintree vs. While an ISO technically only needs one processing partner to operate, generally speaking, ISOs work with half a dozen or more processors in order to maximize the options they can provide to merchants. Sometimes a distinction is made between what are known as retail ISOs and. ·. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. e. 75,000 nmi: 86,308. • Reduction in Gross Margin % due to requirement to hire additional servers and hosting costs at global data centers to meet the strong increase in B2B revenue and for meeting60 Medinat HaYehudim St. In short, Payment Facilitation is an operating model that affects the acquiring side of the payment ecosystem. 71. Exact handles the heavy lifting of payment operations so software businesses can grow their revenue and valuation while improving product stickiness and customer satisfaction. Revolutionize Business. gregus@paysafe. The platform landed its first customers earlier this year and went on to win the “ early-stage category” at Venture Atlanta ’s pitch competition in September. 6 percent and 20 cents. Our fully integrated, API-first technology platform makes payment facilitation quick and manageable by offering: Card-present, card-not-present, mobile and e-wallet solutions. Compare NMI vs. A payment facilitator (or PayFac) is a payment service provider for merchants. GETTRX named title sponsor of Pro Stock and Pro Stock Motorcycle Callout races | NHRA “GETTRX is proud of our increased presence with the NHRA,” GETTRX…Universal PayOps Software Powers the Shift to ‘Get Payments Going Your Way’. 01. Learn more about Pay360 by Capita, a leader in integrated payment services & card processing for local government, retailers, gaming & ecommerce businesses. Provide the distance in miles, kilometers, or any other unit, and the result of the conversion will show up instantly. 0 began. Moreover, the company raised US$30 million in a Series B round in October. One of the main benefits of the payment facilitator model is the increase in revenue you get from each transaction processed using your software.