There are two types of payment facilitators. These facilitators help small merchants to onboard and do payment settlement.
The reason to choose PF by small merchants is acquirers charge more onboarding fees, and merchants have to fulfil many eligibility criteria.So, PF is a mediator for acquirer and merchants.
PFPAY– Payment facilitator onboards small merchants. On behalf of them PF will do on boarding and payment settlement.
PFSUB– The other way PF just do only settlement for merchants. The merchants on boarding is handled by acquirer.