Understanding Underwriting Models Across PSPs, PayFacs, and Acquirers
The merchant landscape is more diverse than ever, and so are the risks. While Payment Service Providers (PSPs), Payment Facilitators (PayFacs), and Acquirers all share the goal of enabling commerce, their approaches to risk assessment vary significantly based on their regulatory exposure and place in the payment flow. This guide breaks down the core differences in underwriting models, exploring how each entity balances automated speed with manual due diligence to manage fraud, credit, and compliance risks.
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