Do you own your own online business? If yes, you need to arrange a deal with PayFac. PayFacs, or Payment Facilitators, are third-party services that merchants use to accept payments from customers on the Internet. Consumers rarely attend high streets and town centers when they are searching for products and services nowadays. Most, in fact, turn straight to the internet. If businesses are not able to facilitate online payments, they will lose out on a lot of business. This post's intention is to now explain how PayFac services benefit businesses, having explained what they are.