Payment Facilitator Requirements: Visa and Mastercard Registration Guide

Registering as a payment facilitator with Visa and Mastercard is a formal, multi-step process with significant documentation, capital, and technology requirements. This guide covers what each card network requires, common rejection reasons, and ongoing obligations once registered.

Visa PayFac Registration: GARS Program

Visa requires PayFac applicants to register under the Global Acquirer Risk Standards (GARS) program. Key requirements include:

• Sponsoring acquirer: You must have a Visa-licensed acquirer willing to sponsor your registration and hold your master merchant account
• Business registration: Legal entity documentation, ownership structure, and principals background checks
• Technology assessment: Documented KYC/KYB onboarding process, transaction monitoring system, and fraud detection capability
• Capital reserves: Evidence of financial stability; typically $1M+ in liquid reserves
• Compliance program: Written AML/KYC policies, OFAC screening procedures, and designated compliance officer
• PCI DSS certification: Current PCI DSS Level 1 or Level 2 compliance certification

Mastercard PayFac Registration Program

Mastercard’s PayFac program has similar requirements but distinct documentation:

• Sponsoring acquirer agreement with a Mastercard Principal member
• Mastercard Payment Facilitator Registration Form submitted through your acquirer
• Sub-merchant monitoring and BRAM (Brand Risk and Acquirer Monitoring) compliance plan
• MATCH (Member Alert to Control High-Risk Merchants) list screening procedures for all sub-merchants
• Chargeback management plan demonstrating you can keep sub-merchant chargeback rates below program thresholds

Common Rejection Reasons

PayFac applications are commonly rejected for inadequate KYC procedures that don’t meet card network standards, insufficient capital reserves, missing or inadequate transaction monitoring documentation, no designated compliance officer, and unresolved PCI DSS findings.

Ongoing Obligations After Registration

Registration isn’t a one-time event. Registered PayFacs must submit quarterly reports to Visa and Mastercard, maintain BRAM compliance with ongoing site monitoring, renew PCI DSS certification annually, and report material changes to their program (ownership, technology, sub-merchant risk profile).

The Easier Path: Use a Registered PayFac

ConvesioPay is already registered and compliant with Visa and Mastercard’s requirements. Merchants and platforms that work with ConvesioPay inherit the benefit of that registration — without the 12–18 month build timeline, capital requirements, or ongoing compliance burden.