Banking News

First Data launches global e-commerce solution for payment facilitators

First Data launches global e-commerce solution for payment facilitators

(19 May 2017 – Global) A myriad of companies across industries have taken on the role of payment facilitators with the continual rise of the “sharing” economy in a bid to build frictionless commerce capabilities for their customers.

To assist in the seamless payment experience, payment service provider, First Data has announced the availability of the First Data Global PFAC solution, which it claims “offers unmatched capabilities and scope for payment facilitators.”

With First Data’s Global PFAC solution, payment facilitators have access to a single integration interface, enabling their merchants to easily authorise transactions in more than 150 currencies worldwide, and settle in 17 currencies.

“Payment facilitators need to be nimble, agile, and have access to proven technology to achieve global scale, especially as eCommerce has opened the door for companies to do business worldwide,” said Shane Fitzpatrick, global head of eCommerce at First Data.

“First Data’s Global PFAC solution empowers merchants to do business wherever they want, whenever they want, while streamlining the administrative burden of enabling payments around the world.”

The Global PFAC solution is structured into two programs to make it easy for payment facilitators to manage the payment needs of their customer base. For payment facilitators seeking to serve smaller customers with a more streamlined approach, the Single MID Program allows them to manage all merchants with one account. The Multi MID Program is designed for payment facilitators who would like to use separate accounts for each customer, as well as access additional First Data products and services.

Global PFAC enhances First Data’s robust eCommerce portfolio, which includes a range of solutions for businesses of all sizes. Earlier this year, First Data announced the acquisition of Acculynk, a technology company with unique debit routing capabilities that help merchants reduce their total cost of payment acceptance. First Data’s eCommerce portfolio is available across the First Data client landscape, from multinational corporations to sole proprietors operating online stores.

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