The industry is ever-changing. Keep up here.
A Payment Facilitator (“PayFac”) is a company that offers an alternative to contracting with a traditional merchant acquirer or Independent Sales Organization (“ISO”) for card payment services by assuming responsibility for the risk, flow of funds, risk monitoring and ongoing support services for the payment acceptance services required to process transactions.
Businesses accepting card payments should prepare for extensive changes in Credit and Debit Card Interchange Rates and Card Network Fees coming in April 2022.
Upcoming interchange rate changes in regards to downgrades require merchants to review their processing costs and determine if network fee increases will impact their operating margins.
Underwriting credit risk involves two distinct activities: gathering data and developing predictive models. The role of gathering data is largely a matter of opportunity—access to the data. The role of developing predictive models, on the other hand, is a technical skill…
Community banks now have the technology to adopt a PFM-based loan origination model to reclaim their role as the primary credit relationship for consumers…
The consumer and small business lending markets are going through radical transformation, and no business model is better positioned to take advantage of these changes than the community bank…
The Office of the Comptroller of the Currency (OCC), a subset of the U.S. Treasury Department, recently announced that it will create a special purpose national bank charter specifically for financial technology (fintech) companies.
