What is a payment facilitator?
A payment facilitator is a type of aggregator that is authorized to onboard merchants to a platform and receive settlement funds for them on behalf of an acquirer or processor.
Payment facilitators can perform the of the following actions:
- Onboard merchants on behalf of an acquirer
- Merchants onboarded by a payment facilitator are called sub-merchants or in some cases sponsored merchants
- Process transactions for sub-merchants with the card schemes
- Receive settlement funds from the acquirer and pay out sub-merchants
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