No. You cannot unless you are a certified Payment Facilitator (PayFac) yourself. When you bring your own credit card processor, then you are essentially inserting yourselves in the flow of funds, that is the one thing you are trying to avoid and hence seek sponsorship from a principal license holder so that you can get coverage. You do not want to touch the money. When you bring your own credit card processor, the card processor has a contract with you and would deposit the money into your account, as opposed to the account of the solution provider. This implies you have now access to 3rd party funds and you, yourselves would now need to be licensed. The only way out of this is for the solution provider to have a direct agreement with the card processor (which they do) and they, the solution provider handle and touch the 3rd party funds on behalf of the customers, and not you.
-  Understanding Payment Facilitator (or PayFac).
-  What is a Third Party Payment Processor? How are they different?
This page was last updated on February 16, 2023.