Have you chosen your acquiring partner yet?
a. Yes, I have. We have already agreed upon pricing and risk requirements
b. I am in the process of negotiations with several potential acquiring partners
c. I am going to use the services of my local bank, but I haven’t discussed the details yet
d. Who is an acquiring partner?
Have you chosen a payment gateway that you want to use?
a. Yes, I am planning to license an open-source product and customize it according to my needs
b. I have my own software product, developed in-house, and I am planning to use it
c. I am planning to use a hosted or white-label solution (I know which one)
d. Why would I need a payment gateway?
Do you need a card present (EMV terminal) solution?
a. Potentially, in future, but not at the present phase
b. Yes, I need EMV card present solution in several geographies
c. Yes, I need a terminal solution for a single country
How are you going to perform merchant monitoring?
a. I’ve decided to integrate with a ready-made system (such as Aperia, Identity Mind, etc.)
b. My company has an internal system for these tasks
c. I am planning to perform manual reviewing of the accounts
d. I haven’t thought about it yet
Have you chosen merchant risk scoring/background verification mechanism to use?
a. I am planning to integrate with some ready-made solution (such as Agreement Express or similar products)
b. My company has or will develop an in-house solution based on tools, provided by LexisNexis, TransUnion, etc.
c. I am planning to do manual lookups and verifications of merchants
d. I haven’t thought about it yet
How are you going to migrate your merchants?
a. There is nothing to migrate, I start from scratch
b. No migration is necessary as I am staying with the same platform that I use now
c. I am planning migration in phases based on merchant segments that we service
d. I have not thought through migration plan yet
How are you planning to provide different payment facilitator-specific services, such as on-boarding, funding, chargeback handling, reconciliation, and reporting
a. I am focused primarily on processing and plan to handle other services manually
b. I have a plan for processing and some of the listed services (but some of them will have to be done manually)
c. I don’t know yet
d. I don’t plan to provide PayFac-specific services
Have you gone through PCI audit before?
a. I don’t need it
b. What is PCI?
c. Not yet, but I’ve chosen my assessor already
d. Yes, I have (with someone like Security Metrics, Coalfire etc.)
What tokenization solution are you going to use?
a. I am building an internal vault
b. I am planning to acquire a tokenization appliance
c. I am planning to use processor’s/acquirer’s tokenization service
d. I am planning to remain out of PCI scope
Limited time offer: Receive а free Payment Facilitator consultation from one of our payment experts.
Limited time offer: Receive а free Payment Facilitator consultation from one of our payment experts.
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