NMI, a leading payments enablement technology provider, has added real-time ACH capabilities and account updater services to its facilitator enablement (FACe) gateway platform.
Ideal for payment professionals turned payment facilitators (PayFacs), FACe provides a comprehensive feature set that can be used to support the needs of small and medium-sized merchants.
“PayFacs using the FACe platform can now offer merchants the same frictionless experience for ACH as they do with credit card processing,” said Nick Starai, vice president of product development for NMI. “And, account updater capabilities significantly reduce authorization declines, as well as the time and cost of manually updating account information,” added Starai. “With FACe, PayFacs can literally turn on credit cards, ACH and account updater for their merchants in a matter of seconds by simply checking a few boxes.”
Combining traditional credit card processing with real-time ACH gives merchants comprehensive payment options with fast, frictionless setup. Account updater is key for recurring billing and subscription service businesses because it ensures cardholder data is up to date, giving merchants a quick and easy way to protect customer relationships and revenues.
The payment facilitation model continues to grow in popularity. FACe was built to meet the platform needs of payment professionals looking to serve small and medium-sized merchants via the PayFac model. Once registered as payment facilitators, payment professionals can simply plug their information into FACe to start boarding merchants immediately.
Contributed | what does this mean?