Tag: Compliance

What is the Relationship Between Payment Facilitators and Merchant Acquirers?

Perhaps no relationship is more important to a payment facilitator than the one they have with a merchant acquirer.

Creating an Improved SaaS Customer Experience by Becoming A PF: Insights from WorkWave’s Journey, Part 2

This week, we have the first of a two-part conversation with WorkWave CEO David F. Giannetto, where we talk more in depth about the factors that ultimately drove the company to choose the PF model. He also shares some of the issues the team faced and how the process changed the way they operate.

Appeals Court Ruling Has Implications for Submerchant Contracts

An appeals court ruling earlier this year sheds light on the importance of submerchant contracts and what they tell payment facilitators about their rights and obligations

ControlScan and FIS: Collaborating on Behalf of PFs

Compliance solutions provider ControlScan and processor FIS have come together in an effort to streamline PCI compliance for payment facilitators.

“A Team Sport”: Highlights from PF WORLD 2019 as Opportunity and Strategies for Success Take the Stage

Delivering the keynote address, Poynt founder and CEO Osama Bedier described payments capabilities as “plumbing,” telling the audience that you “can’t create a great customer or merchant experience” without them.

Healthcare PF InstaMed Counters Consumer Confusion

Nearly two-thirds of consumers would consider switching to a different healthcare provider based on their payments experience.

That’s potentially a sobering statistic to people in the healthcare industry. But it’s one that InstaMed – as a healthcare payments network and particularly as a payment facilitator – feels well positioned to address.

Ready for GDPR? The Next Compliance Deadline is Looming

Last week, it was FinCEN’s new beneficial ownership rules. Now, the General Data Protection Regulation (GDPR) – the new set of European data privacy standards – goes into effect next week.

Supplement KYC Efforts Using Corporate Registration Research

As Know Your Customer (KYC) regulations become increasingly critical in the underwriting process, payment facilitators may seek to better understand high-risk merchants by collecting information separate from what is provided by the applicants themselves. Corporate registration records offer reliable, useful data that may help to paint a more complete picture than application information alone. Knowing where to look and what to look for may lead to more effective Customer Due Diligence (CDD) or Enhanced Due Diligence (EDD) efforts.

GDPR: New European Data Protection Rules Bring Changes for PFs

Payment facilitators doing business in Europe have work to do, if they’re going to be ready for the new data privacy rules that will be effective in May.

Visa Rule Change Signals Support for PF Model

As the payment facilitator model evolves, the card networks are increasingly embracing it as a driver of merchant acceptance globally. A recent rule change from Visa further affirms that PFs are in a solid position.