A delightful guide; Is your payment processing partner going to last?

Payments are the lifeblood of your business. And in the world of payment processing, trust is paramount. It is crucial to partner with payment processors or payment gateways that are registered Payment Facilitators (PayFacs).

In this delightful guide, we'll explore why registered PayFacs are the only safe, reliable and cost-effective choice for your payment processing needs.

We'll break down what PayFacs are in simple terms, highlight Mamo 's exclusive partnership with Checkout.com as their only PayFac in the MENA region, and shed light on the risks and costs associated with dealing with unregistered payment processors.

It's time to prioritize security, compliance, reliability and the long-term success of your business!

The Trust factor: Understanding PayFacs

PayFacs are like middlemen between small businesses and companies like Visa and Mastercard. Think of them as helpful intermediaries that make it easier for businesses to accept payments.

They simplify the process by grouping many businesses together under one account, which makes it quicker and simpler for businesses to get set up to accept payments. They take care of all the technical stuff. Like making sure the payments go through the right channels and managing fraud risk.

PayFacs make it convenient for businesses to accept payments and handle the complexities of dealing with financial institutions and payment firms, so businesses can focus on what they do best — sell!

Unlock cost savings and competitive edge: The power of dynamic pricing with registered PayFacs

Dynamic pricing is a game-changer in the realm of PayFacs, revolutionizing the way payment processing is handled.

With dynamic pricing, registered PayFacs have greater pricing flexibility based on the specific industries those businesses belong to. This customization allows for more accurate pricing, cheaper billing, and higher payment success rates. It simultaneously ensures efficient processing and compliance with scheme (Visa and Mastercard) regulations.

One significant advantage of working with registered PayFacs is the ability to leverage preferred pricing tied to special business categories. These special categories can unlock cost savings and benefits tailored to specific industries or business types?—?effectively, lower transaction fees.

Unfortunately, businesses that choose unregistered payment processors miss out on this opportunity! The message is simple, partner with registered PayFacs for a competitive edge and cost savings in payment processing.

If you are a business, consider working with a registered PayFac that offers dynamic, industry-specific, pricing. This will save you money, improve your cash flow and give you an edge. Your business deserves it.

?? Pro tip: Ask your payment provider which merchant category you are currently classified under with them. If they don’t know what you’re talking about or the category doesn’t closely match the industry your business is in, you are likely paying too much in transaction fees. Switch to a registered PayFac partner.

The Mamo Difference: The Only Registered PayFac in MENA

In the vast MENA region, one name stands out as the epitome of trust and reliability — Mamo . Through its partnership with Checkout.com, Mamo has achieved the coveted status of being the only fintech PayFac in the region registered through Checkout.com.

This partnership ensures that your business is in the hands of industry leaders who prioritize security, compliance, and excellence in payment processing.

?? Pro tip: To verify if a company is a registered PayFac, you can consult the public records available on the Visa (here) and Mastercard (here) websites, where you can search for the company's name or look for their listing in the registered PayFac directory.

Existential Threats: The Perils of Dealing with Unregistered Processors

The UAE has intensified efforts to combat financial crime and money laundering through strengthened regulations, increased oversight, and enhanced cooperation with international bodies.

This commitment ensures a secure and transparent financial system, promoting global trust and confidence.

Schemes like Visa and Mastercard are also cracking down on unregistered payment processors, reinforcing the need to partner exclusively with registered PayFacs that prioritize secure and compliant payment processing.?

Operating outside the regulatory framework, unregistered processors face existential threats. They lack necessary licenses and compliance measures to protect your business and customer data.

How long can this last?

Beware of their initial allure, as these processors come with hidden costs and operational risks.

Schemes and regulatory bodies can and will clamp down on them anytime, leaving businesses vulnerable and seeking alternative providers.

Security and Compliance: The Cornerstones of Trust

By choosing a registered PayFac like Mamo , you can rest assured that your business is in safe hands.

Trustworthy PayFacs operate within a regulated framework, adhering to strict anti-money laundering (AML) and know-your-customer (KYC) regulations.

This ensures that your transactions are processed securely, protecting your business and your customers' sensitive information.

Prioritize Your Business's Future: Choose a Registered PayFac

When it comes to payment processing, it's crucial to think long-term. Invest in the success and stability of your business.

The peace of mind that comes from knowing you're operating within the bounds of the law, protected from potential shutdowns or legal issues, is priceless.

Focus on growing your business with confidence and leave the worries of payment processing in capable hands.