Because Pay Facs serve so many merchants, customer support is generally only offered via email or online.Merchant service providers often offer a higher level of customer support including set up assistance, and the ability to trouble shoot issues via phone, chat, or email.
Although some Pay Facs don’t actually deposit funds into the seller’s bank; instead they hold funds in the form of virtual credits which can be used for purchases or requested to be transferred to the seller’s bank accounts as cash.
But small businesses have another option—accepting payments via a payment facilitator (Pay Fac).
Going the Pay Fac route can be attractive to the owner of a small, start-up business that has just a few items to sell and doesn’t want to hassle with opening their own merchant account.
While applying for a merchant account isn’t difficult, it does require more documentation and time for approval.
One of the biggest benefits Pay Facs offer is a simplified merchant account enrollment process.