Find answers to your questions
Find what’s most relevant to you and contact us today!
PayFac Partnership
What PayFac models are available?
We currently offer two models:
1. PayFac Partnership – for licensed institutions that onboard merchants, conduct KYC/AML, and manage risk independently.
2. Acquiring as a Service (AqaaS) – for partners that retain the merchant relationship while PAYSTRAX handles onboarding, underwriting, and compliance.
Do we need to be members of Visa or Mastercard?
No, acquiring is processed through PAYSTRAX’s existing card scheme licenses. However, there may be separate Payment Facilitator registration with card schemes required for partners.
What are the requirements if we choose to onboard merchants directly and handle compliance?
Partners must maintain approved onboarding procedures, AML/CTF frameworks, transaction monitoring systems, and chargeback and fraud controls, aligned with PAYSTRAX and card scheme requirements.
Is a financial licence required to become a PAYSTRAX PayFac partner?
Yes, a financial licence is typically required to operate under the PayFac partnership model. Exact requirements may vary depending on the level of control and responsibilities the partner takes on.