If you’re offering a shopping cart solution to online stores, then you will need a safe, natural way for your clients to process payments. A payment facilitator, or a PayFac, is a great way to achieve this. It will set you up with a sub-merchant account platform that eliminates the time-consuming process of each of your clients having to get a traditional merchant account. However, finding the right PayFac provider, who can help you integrate this into your services, isn’t always straightforward. You can become a white-labeled PayFac without set-up fees, and without taking on liability for your client’s unpaid refunds and chargebacks, if you know the right providers.
By partnering with one of our payment facilitator providers, you can easily have all the benefits of being a PayFac, and implement a white-label sub-merchant functionality to your shopping cart platform without huge costs or risk. This will give your client’s customers a chance to make credit card payments directly through your shopping cart. Additionally, you will not be liable if anything goes wrong. The PayFac providers we will pair you with takes on all liabilities for chargebacks and refunds.
If you need to know a little more about the basics of payment facilitators, please check out our PayFac info page. For now, we are going to show you the three main reasons why the PayFac model represents an excellent choice for any shopping cart vendor project.
PayFac made easy for shopping cart providers
Using the streamlined payment facilitation model is very simple; your customers should be able to accept credit card payments from within your software in no time. There are plenty of innovative payment methods out there in 2018. However, the Payfac model is one of the most straightforward ways for clients to accept payments through your software. This allows your clients to focus on creating great products, rather than worrying about becoming familiar with other payment-only software.
Setting up a merchant account used to be a fairly lengthy process that could take a month or more. However, a streamlined PayFac sets up a sub-merchant account so that you are immediately approved to receive credit card payments from within your shopping cart software.
Payment facilitation is a great model that offers a user-friendly way to accept credit card payments. You are probably familiar with the basics of payment facilitation. Picture how social media fundraising software works. An individual fundraiser can sign up to accept credit cards in minutes. Speed and efficiency make adding a payments feature a great item to incorporate into your shopping cart software. Rather than having to deal with all of the paperwork that accompanies website owners set up their own merchant accounts, you get to bypass all of this with payment facilitation.
It is also simple to integrate the PayFac service into your shopping cart platform, as the software API will be clean, tested, and suitable for a variety of uses.
Stay in control of your revenue
You’ll gain a quick and efficient way to handle your website client’s credit card processing by using our recommended, tested, payment facilitators. There are no set-up fees for integrating PayFac into your software tools, so you don’t incur any extra costs. Obviously, this dramatically benefits your company and your clients.
What makes PayFac such an impressive part of the e-commerce landscape is the fact that it gives you a great way to stay in control of your revenues. You can generate some sizeable revenues through PayFac as you will get paid a percentage on each of your clients’ transactions.
This has the benefits of boosting cash flow. It also gives your clients a great way to keep an eye on exactly how much money is flowing through your shopping cart. This means they won’t have to wait a long time or be dependent on, receiving reports from multiple 3rd party websites. The implementation of PayFac features into your software means that you can easily keep on top of your finances while making added money for your company.
Keep your customers coming back
Customer retention is a hugely important part of any company’s business plan. PayFac provides a great way to keep existing and potential customers returning to your site. The PayFac model means that payments are fully integrated into your software.
Website owners favor a payment process that is reliable, stress-free and simple to use. By offering PayFac through your software, your clients will have a much more comprehensive shopping cart. Anybody who visits one of your clients’ sites will be greeted with an all-in-one way not only to add products to a cart, view the order, but also make credit card payments. All without site owners having to visit any external links when signing up. This makes it quicker and simpler for any potential customer. Additionally, it also has the benefit of boosting their impressions of your brand which improves customer retention. This is one of the reasons why our recommended PayFac providers offer white-label solutions, removing any brand confusion.
Above all, the PayFac model takes the stress out of setting up site owners to receive credit card payments. Don’t hesitate to reach out to us should you have any PayFac questions relating to shopping carts. We’re always happy to help any way we can. If you’re ready to take the leap, use our contact form below, and we’ll get back to you as soon as possible!