3 ms·
> If you're making your own PayFac, you're suddenly responsible for getting and securely storing that information and handing it up to your sponsoring Acquirer.
by NoahZuniga 1y ago
> If you're making your own PayFac, you're suddenly responsible for getting and securely storing that information and handing it up to your sponsoring Acquirer. You're also responsible for verifying it, ...
My understanding is that steam already has to do this? Like when I buy a game on steam it goes to steam, who then redistributes the funds to themselves, developer and tax man. Since they are holding the money, are they not defacto already a Payment Facilitator?
- Crackula 1y agoafaik games are not considered money. and steam points are not considered money either. only withdrawable credits (casinos/online payment apps) are considered as money
- Shank 1y agoSteam pays developers their cut from sales, which is probably what they’re referring to.
- NoahZuniga 1y agoYes, steam isn't holding the customers money, but the developers money.
- ta12653421 1y agoMost of the companies store tokens for CC numbers etc., apart from not beeing allowed to store the number itself, it doesnt bring any good to you since every hacker will be pleased to stop by; If someone is stealing the tokens, they can't use it for much.