EBizCharge

MAY 8, 2024

Simplified onboarding: The PayFac handles the underwriting and due diligence by evaluating and verifying businesses for eligibility, usually with quick approval turnaround times. Risk and compliance: PayFacs assume responsibility for underwriting and compliance risks as they onboard and manage sub-merchant accounts.

Facilitators 52

Facilitators ISOs Processors Payments 52

PYMNTS

OCTOBER 3, 2017

Banks, when it comes to small business, just aren’t really paying too much attention to them … from a cost structure standpoint, they just don’t make enough money dealing with them,” he said. But, Okeshola noted, speed is not infinitely useful as a factor in underwriting decisions. “I

FinTech 43

FinTech Small Business Acquirers Addressing 43

PYMNTS

APRIL 23, 2018

Traditional banks are starting to feel the disintermediation pinch by alternative lenders who lack their legacy infrastructure and cost structures and use digital-first, artificial intelligence-powered processes to underwrite risk and extend credit instantly.

Online and Mobile Banking 47

Online and Mobile Banking Consumer Product Point-of-Sale (POS) 47

CB Insights

JUNE 3, 2020

Payments companies focused on the restaurant industry are perhaps most at-risk, with merchant acquiring companies here hit particularly hard. long term: digital will become essential for cost-cutting & as new business models emerge. Instant underwriting and online purchasing capabilities will be more important for consumers.

Online and Mobile Banking 75

Online and Mobile Banking Volume On-Demand Underwriting 75