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Recurring Payments: Definition and Implementation Best Practices

Stax

We can see this trend in action in the realm of payment processing with the advent of recurring payments, also known as automatic payments. Industry data shows that subscription-based businesses are growing 3.7x So, let’s dive into the realm of recurring payments and how they can benefit your business.

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Empowering Your Business with Stax Bill: A Comprehensive Guide to Billing Platforms

Stax

As industry leaders in billing software, our mission is to help our customers work more efficiently, recover more revenue, and effortlessly collect invoices. TL;DR A billing platform is a comprehensive system facilitating subscription management, recurring billing, revenue recognition, payment gateways, analytics, and dunning processes.

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Subscription Billing for Businesses: Everything You Need to Know

Stax

Long before the digital age, newspaper and magazine companies have been using the subscription model to create and retain a consistent readership for their publications. This business model has now been adapted very well in the internet age, especially in the SaaS (Software-as-a-Service) and eCommerce industries.

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How to Find the Best SaaS Billing Platform: A Complete Guide

Stax

Here’s an interesting stat: 70% of businesses consider subscription and membership models indispensable for future commercial growth and expansion. However, only 10% of them currently employ these models. Software-as-a-service (SaaS) businesses need to constantly evolve their offerings to stay fresh and relevant.

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What is Subscription Management Software?

Stax

Subscription models offer companies large and small the opportunity to build predictable revenue and high customer lifetime value. But managing subscriptions effectively and freeing up time and resources for expansion is no picnic.

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What Is an ACH Payment Facilitator?

Stax

ACH transactions are one of the fastest-growing modes of electronic payments in the world due to the convenience they offer, low processing costs, and enhanced security. This makes ACH PayFacs a desirable option for small businesses or start-ups. This is because of their unmatched ability to sync payments with these platforms.

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What is a Payment Service Provider (PSP) and How Do They Work?

Stax

The question is: how do payment service providers work and how can you choose the right one for your business? PSPs offer joint merchant accounts and flat-rate processing fees that make them ideal solutions for small businesses that only process payments occasionally. Read on to find out.