PayFac Account definition

PayFac Account means Your account held by We for the purpose of holding the Proceeds;
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PayFac Account means Your account held by We for the purpose of holding the Proceeds; Payment Facilitation Also called “PayFac”, payment facilitation is a service provided by Access Paysuite, where we take care of the technical setup and management for merchants and sub-merchants. We handle everything from underwriting and onboarding to enabling the infrastructure needed to process payments and ensure funds are received safely and swiftly on your behalf.
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Related to PayFac Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.