GlobalOnePay, a division of Pivotal Payments offering global omni-channel payment processing technologies and merchant services, announced today it has launched its next generation eCommerce Payment Facilitator (Payfac) platform. This innovative, turnkey solution enables payment facilitators, marketplaces, SaaS providers and ISVs to generate revenue by offering global payment processing as an integrated, value-added service.
GlobalOnePay provides the technology, legal framework and bank sponsorship support for merchant aggregators to process transactions under a sub-merchant platform. By provisioning a single, master merchant ID, GlobalOnePay ensures organizations and their clients benefit from an automated, real-time and seamless onboarding experience. The API-driven Payfac platform simplifies merchant account enrolment; in as little as one business day, a sub-merchant can be enrolled, approved, boarded and processing payments.
“GlobalOnePay helps resellers, developers and vertical market software providers build an additional, recurring profit stream, along with boosting client retention and stickiness," said John Hughes, general manager of GlobalOnePay. “Our platform can be used to receive payments in over a hundred currencies and offers the ability for sub-merchants to accept more payment options, including UnionPay credit and PIN debit, from customers worldwide.”
According to research estimates, the Integrated Software Vendor (ISV) and Software as a Service (SaaS) provider markets are set to generate US $4.4 billion in net revenue within five years. This represents an 88% year-over-year growth in Payfac transaction volume, as more organizations seek to tap into the lucrative payments space.
“Today’s Payment Facilitator transaction volume is a fraction of its potential,” continued Hughes. “We’re opening up the addressable payments market in a major way with our program. It’s exciting to have more prospective partners showing interest in integrating with our platform every day.”
An added benefit to partnering with GlobalOnePay is instant access to its suite of merchant solutions. Partners can generate additional revenue by reselling a range of services including credit card auto account updater, multi-currency pricing, tokenization, advanced fraud detection tools and smart transaction routing.
For more information about GlobalOnePay's Payment Facilitator program, visit http://www.globalonepay.com/payfac.