The Payments Association

FEBRUARY 10, 2025

Andrew Doukanaris Ambassador, The Payments Association While vIBANs have positive use cases, challenges exist in limited monitoring of the end user, alignment with the PSPs risk appetite, and the lack of a consistent framework to mitigate financial crime and regulatory risks. Common standards would bring consistency and confidence.

IBAN 88

IBAN AML Master Account Due Diligence 88

PYMNTS

FEBRUARY 15, 2017

14) reports, Saxo is rolling out its Banking Circle Virtual IBAN solution, a way for the financial services within Saxo’s Banking Circle to provide virtual IBANs (International Bank Account Numbers) to their own clients. Saxo’s clients set up a master account linked to the Banking Circle platform, then issue a master IBAN.

IBAN 40

IBAN Global Payments Cross-Border Cross-Border Payments 40

Exact Payments

NOVEMBER 8, 2023

By choosing to become a PayFac, SaaS companies and ISVs can enjoy incredible revenue-earning opportunities and greater control over the end-user experience. Improved merchant experience As PayFacs, software companies can embed custom payment features and checkout flows that vastly improve the overall end-user experience.

Facilitators 52

Facilitators ISVS ISOs Payment APIs and Integration 52

Exact Payments

OCTOBER 30, 2023

Differentiator 1: Payment Aggregation The most crucial distinguishing factor of PayFacs is that they operate as merchants themselves and register for processing accounts directly with an acquiring bank. They are then able to onboard and aggregate sub-merchant accounts under their master account.

Facilitators 52

Facilitators Processors Payment APIs and Integration ISOs 52