September, 2020DynaPay obtains a Payment Facilitator status from Visa and Mastercard
We are pleased to announce that DynaPay has been awarded Payment Facilitator (PayFac) status by both Mastercard and Visa. This represents another major milestone in the growth of the company and opens up a whole new world of opportunity for us and our partners and merchant clients.
Payment Facilitators, commonly known as PayFacs, secure a direct relationship with banks, following lengthy contract discussion and onboarding stages, which allows them in turn to onboard new merchants as sub-merchants for payment processing quickly. With this speedy onboarding, including much more straightforward integration options for clients, we can now offer new merchant clients a fast-track to live card payment operations and with the addition of the much more simple pricing structures which PayFac status enables, means that clients have a transparent view of fees and don’t need to worry about hidden fees and other charges.