The Payments Association

FEBRUARY 10, 2025

The compliance challenges of virtual IBANs, focusing on AML obligations and regulatory gaps. However, their rapid adoption has raised concerns about regulatory oversight, particularly concerning anti-money laundering (AML) compliance. Why is it important?

IBAN 88

IBAN AML Master Account Due Diligence 88

Exact Payments

NOVEMBER 8, 2023

With the ability to more easily customize their product for specific industries or use cases, they can more effectively expand their target market. Additionally, PayFacs can offer merchants a much simpler account onboarding process. The other path to PayFac is to buy a PayFac-as-a-Service, or PFaaS, solution.

Facilitators 52

Facilitators ISVS ISOs Payment APIs and Integration 52

PYMNTS

MARCH 14, 2019

And while Google and Facebook can act as the auto-repositories for all passwords —solving part of the problem — it does create the small issue that if someone should gain access to or control of those master accounts, they have “the keys to the kingdom,” according to Maloney. The Evolution of Authentication.

Authentication 59

Authentication Master Account Push-to-Card Use Case 59