Unlocking eCommerce Growth: Solving the Payment Facilitator Challenge
Connectivity is now the very fabric of modern life—we learn, share, socialise, buy and virtually live online. In this hyperconnected world, eCommerce continues exponential global growth as nearly every aspect of the business world – in every vertical and in every place in the world – becomes increasingly digital. The demand from businesses and the consumers they serve for seamless, simple digital transaction experiences has created a transformative new role in the payments landscape: the payment facilitator.
The payment facilitator model enables organisations – ranging from ISOs and PSPs to software vendors and value-added resellers – to provide a complete and simplified option for onboarding sub-merchants and providing these customers with a seamless, integrated digital payment acceptance platform. Forward-thinking companies with global growth goals are increasingly acting as payment facilitators, building these kinds of frictionless eCommerce capabilities for their sub-merchants. The payment facilitator model not only helps solve the many challenges and pain points traditionally associated with connecting sub-merchants with digital payment capabilities – it enables payment facilitators to capture a burgeoning revenue stream from payment processing volume that is expected to reach $1.16 trillion globally in the next two years.
However, though the payment facilitator role inarguably simplifies many things, businesses working to become payment facilitators and those already operating in this role also face new technological, risk and compliance challenges. They’re struggling to build and integrate the necessary technologies, burdened by regulatory requirements that grow increasingly more complicated, overwhelmed by the complexities of taking on new kinds of payment risk and finding their global scalability impeded by limited currency and payment method acceptance.
Download our exclusive white paper to learn how First Data is solving these challenges by providing a single, global partner for accelerating eCommerce.