Payfacs & Marketplaces

The flexible account hierarchy also permits the user to create the structure required to process payments for Payment Facilitators, even though there is no separate entity for this. This can be achieved by creating a collection of merchants and/or merchant acceptors. The card scheme-defined PayFac ID can be set in acquirerOrPayFacBusinessId. The (sub-) merchants are identified by the mid and/or the subMerchantId.

In this model, the Payment Facilitator will be onboarded on the platform at the Merchant level. The sub-merchants will be onboarded at the Merchant Acceptor level, and the acquirerOrPayFacId and the subMerchantId are to be set on the Acceptor.

Additionally, the sub-merchant name needs to be set in the doingBusinessAsName according to the format PayFac*submerchantName as defined by the card network. This is the value that will be displayed on the shopper's statement. This can also be achieved by using the dynamicDescriptor.merchantName when submitting a charge.

Marketplaces are companies that brings multiple buyers and sellers together through an e-commerce platform and processes payments on behalf of them. Visa has a specific Marketplace program and requires acquirers register the marketplace with Visa before processing transactions. Silverflow supports the processing of marketplace transactions with the below requirements.

Marketplace ID

In order to process marketplace transactions, a Visa provided Marketplace ID needs to be onboarded to Silverflow. This can be done using the acceptor.marketplaceId field while creating a new acceptor or updating an existing acceptor. Unlike in the PayFac model, clients need not onboard every marketplace seller as an independent merchant or acceptor, except if required for reporting foreign retailer volume as below. Please consult your Visa representative on specific coding requirements for the Merchant name, location, and MCC.

Foreign Retailer Indicator

Visa mandates that acquirers of marketplaces must report to Visa transactions with a marketplace seller based in a different country than the marketplace. While acquirers can choose to report these numbers through the GOC quarterly reporting, Visa is incentivizing acquirers to do this in an automated manner using the the foreign retailer indicator. Clients that need to report foreign retailer volume can do so using the acceptor.foreignRetailer field while creating a new acceptor or updating an existing acceptor. Clients can either use a single acceptor with the foreignRetailer = true for all foreign retailer transactions or create individual acceptors for each foreign retailer.

Ramp Providers are companies that provide payment services to convert transactions from a fiat currency to a non-fiat currency or vice versa. Visa has a specific Ramp Provider program and requires acquirers register the marketplace with Visa before processing transactions. Silverflow supports the processing of marketplace transactions with the below requirements.

Ramp Provider ID

In order to process ramp provider transactions, a Visa provided Ramp Provider ID needs to be onboarded to Silverflow. This can be done using the acceptor.rampProviderId field while creating a new acceptor or updating an existing acceptor. Please consult your Visa representative on specific coding requirements for the Merchant name, location, and MCC.

Foreign Retailer Indicator

Visa mandates that acquirers of ramp providers must report to Visa transactions with a conversion affiliate based in a different country than the marketplace. Clients that need to report foreign retailer volume can do so using the acceptor.foreignRetailer field while creating a new acceptor or updating an existing acceptor. Clients can either use a single acceptor with the foreignRetailer = true for all foreign retailer transactions or create individual acceptors for each foreign retailer.