THE RISK FACTOR: What to consider when becoming a PayFac

For all the buzz around payment facilitation (PayFac) sparked by the success of the likes of PayPal, Square, and Shopify, software companies looking to go that route must first understand the risks involved in becoming a payments company. Up-front investments, potential for fraud, and ensuring compliance with an ever-growing list of regulations can keep executives up at night for fear of being on the next evening’s six o’clock news program.

This paper dives into the various pitfalls that must be navigated by organizations that want to monetize payments as part of their offerings, including operational, transactional, and reputational risks, data security challenges, PCI, and the European GDPR regulations that must be followed, and demonstrates how Worldpay from FIS can provide access to platforms that make monetizing your business and strengthening your product easier, no matter where you are in your payments journey.