Payment institutions and electronic money institutions have achieved important things recently in terms of the share they have gained in the market and the momentum they have brought to the industry.
So what are the payment institutions around the world? Shall we take a look?
You can find the list prepared on this subject at the link below.
https://www.mastercard.us/content/mccom/en-us/merchants/start-accepting/payment-facilitators.html/#
The payment facilitator concept
A payment facilitator (PayFac), as mentioned in the list, is an organization that enables card acceptance by gathering sub-merchants under a single structure. Instead of signing a contract directly with a bank, the sub-merchant works with the PayFac.
This model lets small businesses get started quickly; however, risk and compliance responsibility is largely concentrated in the PayFac.
Since the list reflects the scheme's own records, it may not cover all payment institutions worldwide. Lists published by local competent authorities should also be reviewed.
