INTRODUCTION

To compete in today’s growing field services marketplace, you need to carefully consider your company’s payment strategy. As a field services software provider, you know that in order to remain market competitive you need the ability to whitelabel your payment processing module, and offer your users instant merchant account approvals.

A seamless payments onboarding is traditionally achieved through payment facilitation, commonly referred to as payfac. Because of the combination of potential hyper-growth and instant onboarding of merchants with very little up-front effort, field services software providers acting as payment facilitators are more prevalent than ever.

When a software provider acts as a payment facilitator, they serve as the intermediary between their merchant customers and payment processor, thereby improving onboarding efficiency and maintaining control over the payments process. However, there are risks, costs and heavy lifting that come with being a payfac.

An easier way to reap the benefits of payment facilitation without thehassle is through a managed payment facilitation program. This guide will help you understand how field services software providers canoperate as payment facilitators without the hefty workload through amanaged payment facilitation program.