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The reason is, there doesn’t exist any single standardized system internationally to preside over SaaS sales tax. The SaaS businesses have to navigate through the world of tax compliance themselves. When a company sells products in a certain region, it gets subjected to the sales tax according to the tax regulations of that region.
A MoR also takes the lead on chargebacks, tax audits, legal compliance, and more. Finally, you’ll need to maintain a large team of tax and legal experts to maintain global compliance (because solutions like Stripe don’t help with any legalities). Taking the lead on legal compliance (including audits). A robust payments toolkit.
Business to business organizations provide services or goods to other companies, unlike business to consumer (B2C), which is when businesses transact with consumers (individuals). B2B vs. B2C Payments Despite the fundamental similarity that money is being given from one entity to another, B2B and B2C payments are quite different.
Business to consumer (B2C). Payment Card Industry compliance (PCI). Point-of-sale (POS). The transaction that takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction. Business to business (B2B).
TL;DR Online payments rely on API or hosted gateways with encryption and fraud detection, while in-store transactions require POS hardware with EMV chip technology and NFC capabilities. Once a customer initiates a transaction, their payment details are sent to a B2B, B2C, or C2C payment gateway. Need to integrate payments?
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