How much does it cost to become a Payfac?

One of the main benefits to adopting the Payfac® model is the increase in revenue you get from each transaction processed using your software. But of course, there is also cost involved. So naturally, any company considering the option needs to make sure the investment they’ll make in the Payfac model makes sense financially.

So how much does it cost? Fortunately, the range of costs to integrate payments into a software platform is already well established.

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The short answer is that you can expect to invest up to $500,000 to launch your payments business. That amount is about how much a software company with no pre-existing organizational expertise in payments and no current technical interfaces with payment gateways or processors is likely to spend.

But it could be far less, depending on your business and what you already bring to the table. Actual project costs can vary greatly depending on whether your company:

  • Has pre-existing platforms and / or technical integrations
  • Already has payments expertise in-house
  • Wishes to have fully loaded cost estimates or would prefer that work done by existing full-time employees is not allocated to the business case
  • Wishes to use payments consultants