When is It Worth Becoming a Payment Facilitator?

For many B2B software companies, the decision to offer a proprietary payments product appears likely in their future. So how do you know when it’s worth taking the steps necessary to become a payment facilitator? When are you big enough, well-funded enough, or at the right point in your business’s life cycle?

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Tipalti Acts Like A PF In More Ways Than Taking Payments

Tipalti does a lot of things a PF does, except take credit card payments.
The B2B accounts payable software service accepts six payment methods and does pre-payment checks against AML and OFAC lists and enables global payments, herding 26,000 payments rules and 120 currencies while streamlining supplier onboarding and providing everything but tax returns to its clients.

Tipalti just got $14 million in funding and chief marketing officer Rob Israch says accepting card payments is most likely in its future. It’s another example of a perfect candidate to become a PF, but Israch says because it uses so many partners to do what it does, when it offers card payments to suppliers, freelancers, etc., the facilitation would most likely be outsourced. The company helps pay approximately 750,000 suppliers and remits $2 billion annually.

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