Remove Communication Remove Government Remove Stax
article thumbnail

What is a Payment Processing System and How Does It Work?

Stax

The processor facilitates the transaction by communicating with the payment gateway, issuing bank, and acquiring bank. Card networks – The organizations that govern credit and debit card transactions. The payment processor communicates with the issuing bank and card networks to approve or decline the transaction.

article thumbnail

What is the Quote to Cash Process and How Do You Implement It?

Stax

Stax Bill) Order Management Fulfillment of orders according to agreed terms. Luckily, the emergence of robust billing and invoicing software platforms like Stax Bill have made it easy for sales teams to be more thorough and customer-friendly with their quotes. Risk of errors due to complexity. Billing and invoicing software (e.g.,

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Credit Card Surcharges: What Are They, and How Do They Work?

Stax

Surcharge fees vs. other card payment processing fees Misclassifying one type of fee as another can be a costly oversight because each has its own governing rules. You can do so by reading the government website’s surcharging FAQs or contacting your state’s Attorney General’s office. Here’s how it differs from other related charges.

article thumbnail

How to Streamline Your SaaS Clients’ Merchant Underwriting Process—and Improve Adoption Rates

Stax

SaaS companies can avoid having to integrate their software with that of gateways and banks, undergo thorough merchant underwriting, and submit mountains of documents by working with a trusted PayFac like Stax to make their software more comprehensive for their clients. What Is Merchant Underwriting?

article thumbnail

5 Benefits of ACH Payments Over Check Payments

Stax

In fact, NACHA, the nonprofit that governs the ACH payments network reported 6.1% Setting up ACH payments is easy with a great merchant account service like Stax. For any business looking to implement ACH transfers as an accepted form of payment, it’s important to communicate how easy it is to set up.

article thumbnail

What is an EFT Payment? Everything to Know About This Method of Payment

Stax

Key regulations governing EFT payments include the National Automated Clearing House Association (NACHA) rules, which establish guidelines for ACH transfers, and the Payment Card Industry Data Security Standard (PCI DSS), which sets security standards for handling card information. Are EFT Payments Safe?

article thumbnail

Ultimate Guide to Surcharges: What is a Surcharge and How Does It Work

Stax

This surcharge covers costs associated with adopting and maintaining government-mandated sustainable practices. Governments impose regulations to protect the public’s interests and promote fair corporate practices. Put efforts into disclosing surcharge fees and communicating them to consumers. Environmental surcharge.