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They also invest in their client’s success and help them thrive. In line with that, we’re thrilled to announce that Stax Connect ISVs can now give merchants the ability to accept PayPal, Venmo, and Pay Later (BNPL). Based on an internal PayPal data analysis of Pay Later retailers, October 2020 through August 2023.
Acquisition of BlockChyp brings new technology and industry expertise to Stax, furthering its evolution as a leading payment processor ORLANDO – October 1, 2024 – Stax , a leading payment technology provider, today announced its acquisition of BlockChyp , further expanding the company’s end-to-end processing capabilities.
Experienced payments and sales executive joins Stax leadership team to drive accelerated growth for Stax Connect and embedded payments. Stax Payments , Inc., As head of ISV Business Development at Stax, Krahl will drive market penetration into key Stax industries such as field services, healthcare, and professional services.
In 2023, 27% of all point-of-sale (POS) payments were made using credit cards while 23% were made with debit cards. According to data released by CMSPI , businesses ended up paying more than $220 billion in card processing fees in 2023. Train your employees on processing card payments correctly and invest in the latest card terminals.
To the incredible Stax community: allow us to take a moment to recognize a milestone that we are extraordinarily proud of—our 10th anniversary. Sprinkled throughout this article are quotes from some of Stax’s long-standing employees, because who better to tell the company’s story than the people who help make it happen?
Research shows that 64% of small businesses use accounting software and the market for accounting software solutions is projected to be worth $4.3billion by 2023. Users can view banking information, track monthly bills, track investments, manage credit card accounts, and much more. Quicken Inc.
On top of that, 69% of Americans online in 2023 said they used digital payment methods to make a purchase. Payment processors with integration issues lead to operational inefficiencies and diminish the return on investment. This is where Stax comes in. billion transactions and $9.76 trillion in value.
Thankfully, with mobile payments from Stax , you can quickly accept and process payments from your customers. Learn all about mobile payments and why you may want to consider joining the Stax family to streamline payments and boost your small business’ productivity. Stax can save you from that headache with less room for error.
In Q3 of 2023, the total volume of payouts on ACH networks reached 7.8 The great thing about an ACH PayFac solution like Stax Connect is that SaaS companies or ISVs can embed ACH payments in their software easily and own (also, white label) the payment experience. An example of a payment facilitator is Stax Connect.
The rise in these fees can be attributed to the substantial investment required for the development and maintenance of secure payment processing infrastructure, protection against fraud, and the convenience offered to consumers. Service providers such as CardX by Stax help companies offset some of these fees in a compliant and seamless way.
Alternative Solutions: Introducing CardX by Stax CardX by Stax takes a distinct approach in the world of payment processing by opting to pass on the credit card processing fee directly to the customers (known as surcharging) instead of attempting to decrease or absorb it. As of 2023, the average interchange rate is 0.3%
TL;DR Understanding your target market is the first step to growing your FSM software business FSM software providers need to invest in product development and innovation to stay up-to-date with industry trends, forecast market needs, and respond with innovative solutions. Stax Connect ticks all of these boxes.
Businesses merge their customer offerings with banking, insurance, investment, and loan services via an Application Programming Interface (API) linked to their financial partners. Embedded Investing Embedded investing allows non-investment service businesses to provide investment and trading options on their platforms.
If you buy the costliest POS system in the market with the most dynamic features, but your team finds it hard to adopt, it won’t be worth the investment. For example, you can integrate your POS system with a payment processor like Stax Payments and enjoy fair payment processing rates, third-party app integration, and comprehensive reporting.
In 2023, cash accounted for 12% of POS system transactions and only 1% of all eCommerce transactions in the US. With discounts for cash payments, businesses can retain more of their revenue, thereby bolstering their financial health and creating opportunities for investment, growth, and sustainability in the long term.
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