First Data, a global commerce-enabling technology provider, has launched the First Data Global PFAC solution, which offers 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 authorize transactions in more than 150 currencies worldwide, and settle in 17 currencies.
The Global PFAC solution is structured into two programmes to help payment facilitators manage the payment needs of their customer base. For payment facilitators seeking to serve smaller customers, 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.
First Data’s Global PFAC offers benefits like integration and boarding for payment facilitators’ clients, payment options, security and fraud detection solutions, underwriting services, reporting, periodic reviews of transactional rates and pricing, currency conversion and a range of payment methods, allowing consumers to shop and pay in the currency and method of their choice.
Global PFAC enhances First Data’s ecommerce portfolio, which includes solutions for businesses of all sizes. Earlier in 2017, First Data announced the acquisition of Acculynk, a tech company with 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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