VP, Head of PayFac Greater San Jose, CA Area

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Job Title

VP, Head of PayFac

The Vice President, Head of PayFac-as-a-Service leads the strategy, product, and commercialization of Fiserv’s Payment Facilitator-as-a-Service offering within Merchant Solutions. PayFac-as-a-Service gives clients a modular partnership path to payment facilitation enabling embedded payment capabilities and participation in the flow of funds without building the full Payment Facilitator operating model. This leader is accountable for defining how capabilities are delivered across the acquiring value chain while ensuring that registered-party accountability, network obligations, and Fiserv risk appetite remain uncompromised.

Reporting to the SVP, Global Product Strategy, the Vice President owns the PayFac-as-a-Service productnvision, the operating-model spectrum (Full-Service, Managed, and Fiserv-led PayFac), the delegation and risk framework, and the commercial packaging and pricing model. The role partners closely with Risk,

Compliance, Legal, Technology, Sales, and Product Marketing to bring configurable, network-compliant payment facilitation propositions to market — balancing operational flexibility for clients with disciplined control and oversight.

Guiding principle: PayFac-as-a-Service changes how capabilities are delivered, not who remains accountable. Operational activities may be shared or delegated, but accountability remains anchored to the registered parties across the entire value chain.

What you will do:

PayFac-as-a-Service Product Strategy & Proposition

Own global end-to-end PayFac-as-a-Service product strategy and multi-year roadmap, defining the target client segments, use cases, and value propositions for embedded payment facilitation.

Define the core capability proposition — which capabilities form the baseline offering and which services are optional modules across onboarding, risk, compliance, processing, funding, reporting, and servicing.

Translate market demand and client needs into a defined product and capability catalogue, differentiating Fiserv’s PayFac proposition in a competitive commerce and payments landscape.

Champion PayFac-as-a-Service as a partnership path for clients seeking payment capabilities without building the full operating stack, focused on proposition, distribution, and merchant experience.

Operating-Model Spectrum & Delegation Design

Own the PayFac-as-a-Service operating-model spectrum, enabling clients to choose how much operational capability to retain versus consume from Fiserv — from Full-Service PayFac (client-led execution) to Managed PayFac (configured responsibility) to Fiserv-led PayFac-as-a-Service (service-led execution).

Define the delegation and qualification model — which low- and medium-risk activities qualified clients may execute, and the eligibility and delegation rules that govern them.

Establish the responsibility model across the acquiring value chain, classifying activities as client-owned, delegable/shared, or Fiserv-retained across Strategy & Go-to-Market, Onboarding & Underwriting, Fulfilment/Processing & Funding, Risk & Compliance, Merchant Servicing, and Reporting & Governance.

Ensure final allocation remains client-specific and validated against legal role, Service Provider registration, funds flow, control design, and Fiserv risk appetite.

Risk, Compliance & Registered-Party Accountability

Own the PayFac-as-a-Service delegation risk framework, assessing delegability using six factors together: funds exposure, decision authority, regulatory & network impact, registration dependency, data & system access, and oversight feasibility.

Define retained authority and risk appetite — the decisions and functions Fiserv retains, including final merchant approval and exceptions, funds access and payout control, settlement accountability, MATCH decisions, network reporting submission, and PF sponsorship authority.

Ensure high-risk capabilities (AML/sanctions decisions, underwriting authority, settlement) are retained or tightly controlled, while low- and medium-risk activities are delegated with appropriate qualification, monitoring, evidence, and escalation controls.

Guarantee that registered-party accountability and oversight remain continuous across the full value chain, regardless of who executes each activity, and that delegable activities retain qualification, evidence, monitoring, escalation, and intervention rights.

Partner with Risk, Compliance, and Legal to secure required approvals and maintain alignment with Mastercard, Visa, and other network rules that establish the accountability boundaries.

Onboarding, Underwriting & Servicing Operations

Define the global product requirements for merchant onboarding, KYC/KYB, underwriting analysis, and merchant activation, balancing client-led workflow with Fiserv decision authority and controls.

Oversee the design of fraud monitoring, portfolio monitoring, disputes and chargebacks, and merchant servicing capabilities within a shared-execution model with defined thresholds and intervention rights.

Ensure reconciliation inputs, operational reporting, and network-reporting submission are governed with clear ownership and validation.

Commercial Model, Packaging & Pricing

Define the commercial model — what is included in platform pricing and which services, modules, or controls are priced separately (platform fees, managed services, oversight).

Own the service packaging and pricing strategy, informed by the product strategy and delegation model, to align value delivered with client operating-model choice.

Structure client-tailored offerings (Fiserv-led, Shared Service, Full-Service) matched to each client’s capability, controls, and risk profile.

Partner with Product Marketing to define positioning, launch readiness, portfolio narratives, and commercial enablement for the PayFac-as-a-Service proposition.

Go-To-Market & Cross-Functional Execution

Lead the PayFac-as-a-Service go-to-market strategy with Sales and Partnerships, translating Fiserv strategy into compelling client propositions and proposal strategies.

Align Product, Technology, Risk, Compliance, Legal, Finance, and Operations around common priorities and measurable business outcomes.

Lead the PayFac-as-a-Service operating rhythm — QBRs, MBRs, operating reviews, and roadmap reviews — ensuring decisions, owners, and follow-through are clear.

Drive executive communications and stakeholder alignment on PayFac-as-a-Service strategy, progress, and risk posture.

Governance, Performance & Contracting

Establish the oversight and contracting model — the evidence, reporting, audit, intervention, and remediation rights required for a governed operating and contracting framework.

Define and monitor PayFac-as-a-Service KPIs, onboarding and portfolio performance, risk indicators, and commercial outcomes.

Drive accountability for execution against strategic objectives, network obligations, and portfolio commitments.

Leadership Responsibilities

Build and lead a high-performing PayFac-as-a-Service global organization spanning product, delegation & risk design, onboarding/underwriting, and commercial enablement.

Develop talent and future leaders through coaching, mentoring, and career development.

Create a collaborative operating model across product, technology, risk, compliance, legal, sales, and operations teams.

Influence senior executives and stakeholders without direct authority to achieve enterprise outcomes.

What you need to have:

14+ years of experience in payments, merchant acquiring, payment facilitation, fintech, financial services, or related fields.

8+ years of progressive leadership experience managing global teams and enterprise-scale initiatives.

Deep, demonstrable expertise in the Payment Facilitator / PayFac model, merchant acquiring, and the acquiring value chain (onboarding, underwriting, risk, compliance, processing, funding, settlement, servicing). Strong working knowledge of network rules and regulatory frameworks — Mastercard/Visa Service Provider registration, AML/sanctions, KYC/KYB, MATCH, and chargeback/dispute regimes.

Proven experience designing delegation, risk, and control frameworks that balance operational flexibility with registered-party accountability.

Experience defining commercial packaging, pricing, and go-to-market models for platform or managed-services offerings.

Demonstrated success influencing executive leadership and driving cross-functional alignment nacross Product, Risk, Compliance, and Legal.

Strong analytical, strategic planning, and executive communication skills; advanced PowerPoint and Excel.

Bachelor’s degree required.

What is nice to have:

MBA or advanced degree.

Direct experience standing up or scaling a PayFac / PayFac-as-a-Service or embedded-payments business.

Familiarity with Fiserv acquiring platforms, Commerce Hub, and merchant onboarding/risk systems.

Experience preparing Board, Investor Relations, or executive-level strategic and risk materials.

Knowledge of AI-driven onboarding/risk tooling and modern product development practices.

Salary Range

$220,000.00 - $330,000.00

These pay ranges apply to employees in Sunnyvale, California. Pay ranges for employees in other states may differ.

It is unlawful to discriminate against a prospective employee due to the individual's status as a veteran.

For incentive eligible associates, the successful candidate is eligible for an annual incentive opportunity which may be delivered as a mix of cash bonus and equity awards in the Company’s sole discretion.

Thank you for considering employment with Fiserv. Please:

Apply using your legal name

Complete the step-by-step profile and attach your resume (either is acceptable, both are preferable).

Our commitment to Equal Opportunity:

Fiserv is proud to be an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, gender, gender identity, sexual orientation, age, disability, protected veteran status, or any other category protected by law.

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