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Neiconi brings more than 15 years of experience in risk and fraud management leadership to his new role, with a deep background in developing fraud risk solutions, risk data collection and analysis, and compliance. Most recently, Neiconi was the Head of Fraud & Risk North America for Adyen. and Canada.
TL;DR PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust. What is PCI Compliance? That’s where Stax comes in. Why Is PCI Compliance So Important? PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust.
Theyre easy to integrate and set up, with the host taking care of data security measures, including PCI compliance and fraud protection. On top of PCI compliance, you might have to pay extra for SSL (Secure Sockets Layer) certification. Just like self-hosted gateways, merchants using API-based solutions are responsible for security.
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?
The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. Key steps include application review, risk assessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?
This is why PCI DSS compliance is critical. Compliance with PCI Data Security Standard regulations prevents shortcomings and vulnerabilities in payment processing, thereby reducing the risk of fraud, identity theft, and cyberattacks. Stax is 100% PCI compliant, which makes it the perfect solution for all your payment processing needs.
As of writing this article, those states and territories are: Massachusetts Connecticut Puerto Rico Note that surcharging laws change quite frequently so you should stay up-to-date on the latest developments. This is where partnering with a payment processing provider like CardX by Stax can be especially useful. Request a Quote
The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. In this article, we’ll discuss everything you need to know about ensuring AML compliance as a payment facilitator (or PayFac). Non-compliance can have major implications.
Your provider will offer a set of APIs (Application Programming Interfaces) your developers can use to integrate the Click to Pay systems with your website CMS, eCommerce platform, or SaaS platform. Your testing should check for security compliance, technical performance, and mobile responsiveness. Learn More What is Click to Pay?
To ensure that an ISV partner program is right for you, consider their program structure and offerings, integration capabilities, support and resources, security and compliance, and costs and financial incentives. Confirm adherence to industry standards and regulations, such as GDPR or HIPAA , ensuring compliance with legal requirements.
Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. for transactions also requires this compliance.
Stax and Worldpay: A Powerful Partnership Stax is one of the largest Independent Sales Organizations (ISOs) partnered with Worldpay. Through this partnership, Stax provides businesses with cutting-edge payment technology , cost-saving solutions, and dedicated customer support.
Security and compliance: Make sure they meet the latest security standards and regulations to protect you and your customers’ sensitive data. As you’re handling cardholder data, your provider will need to ensure PCI compliance to minimize the risk of fraud and data breaches. Stax has options, no matter what you need.
PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks. Let’s dive deeper into risk management practices for PayFacs.
TL;DR ISVs develop and distribute software products independently and often collaborate with hardware manufacturers and platform providers. While they operate under different business models, ISVs and SaaS share similarities in software development, cross-platform accessibility, and industry reach. Learn More What are ISVs?
Stax Connect is an all-in-one payment ecosystem with integrated software solutions to help your SaaS company increase revenue, all through one API. Stax Connect provides a comprehensive, scalable payment infrastructure, empowering you to offer seamless payment services while confidently growing your SaaS business.
Vertical SaaS solutions are tailored for specific industries, addressing niche needs with in-depth customization and compliance with industry standards. Where vertical SaaS targets specific industries with purpose-built tools, horizontal SaaS companies develop more generic solutions that are relevant to many different types of businesses.
Integrating the EHR software with payment processing tools like Stax Connect also helps create an all-in-one platform that simplifies workflow management at hospitals and other medical practices. Using this information in your product development will help you create software that addresses customer requirements and has a high demand.
Moreover, companies need to follow data privacy and compliance requirements to stay in business. Besides the enhanced data security, other benefits include reduced risk of breaches, easier regulatory compliance, and compatibility with legacy systems.
Compliance with these standards ensures that merchants and payment processors implement robust security measures to safeguard financial data. Compliance with PCI DSS is mandatory for businesses that handle credit card transactions. We use a host of security measures to prevent fraud and ensure PCI compliance across all of our products.
Ultimately, PCI DSS compliance helps prevent fraudulent transactions, mitigates data breaches, cultivates customer trust and protects your business. Stax delivers an all-in-one payments platform that is secure, stable and customizable—and did we mention affordable? At Stax, we help businesses keep up with all things payment security.
Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. They must also ensure that sub-merchants are compliant with the regulations set by card companies, e.g. PCI compliance.
Credit card surcharging is subject to regulations and compliance requirements that vary by region and country. 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.
It’s hosted on the cloud and software providers are responsible for software development, maintenance, and releasing updates. Automatic updates and maintenance SaaS software is maintained by the service provider that developed and is hosting the software on a cloud. This is where Stax Connect came in.
Metrics like churn rate, average order entry time, RFP win rate, % of orders delivered in time & in full, revenue, MOM profit margins, and more will help you develop a clear picture of how well your new QTC system is performing. Stax Bill) Order Management Fulfillment of orders according to agreed terms.
In this guide, we’re going to cover what companies need to consider when choosing a SaaS billing platform—and how Stax Connect makes this process simple. For best practices, integrate it with your other systems, offer flexible plans for optimized cash flow, and ensure data security compliance to industry standards. Real-time insights.
TL;DR An independent software vendor (ISV) develops and sells software applications independently of hardware manufacturers. In the ISO model, an ISV partners with a third party that handles merchant account setup, payment processing, risk, and compliance.
As your MoR, we take on transaction liability for you which means we take the lead on compliance, audits, chargebacks, and more. Our developers are also available to help you build the perfect solution and answer any questions. Stax Bill offers simple automation for recurring billing and invoicing. Fraud detection. Chargebacks.
But the benefits made known during that time were more aligned with the original reason for its development. Full-service POS and credit card payment providers Full-service providers like Stax offer complete POS solutions and backend payment processing, which are essential to accepting contactless payments. No contact, no germs.
Some challenges and considerations of embedded finance and fintech involve regulatory and compliance issues, data privacy and security, and stiff competition. They can offer new products without spending years and a lot of money on research, development, and launching. It integrates fintech solutions to enable billing capabilities.
However, you’ll still be responsible for paying taxes, processing chargebacks, and for things like legal compliance, dunning, and more. If something goes wrong with taxes, local compliance, chargebacks, accounts not balancing, etc., Personalized Developer Support. Comply with local laws and regulations. Process chargebacks.
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. R&D is the process of idea development.
Secure Transactions: Online terminals incorporate security protocols like SSL encryption, tokenization, and Payment Card Industry Data Security Standards (PCI DSS) compliance. If you need a customized integration, you may have to collaborate with the provider’s technical support team or engage a professional developer.
It improves cash flow with faster payment processing Instead of the traditional time-wasting process of manually reconciling receipts, your platform will automatically organize payment transaction data and even help with compliance-related tasks, all of which will shorten the period your users will receive the funds in their merchant accounts.
Streamlined compliance and security: Need to keep your legal ducks in a row? Many CRMs include features to assist with regulatory compliance and secure data handling, simplifying these complex aspects. Plan implementation Develop a clear implementation timeline, including milestones and deadlines.
As anISV, Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses. An ISV partnership refers to a relationship between a company and an independent software vendor that develops applications running on a particular platform or ecosystem. How does an ISV integration work?
Stax CTO, Mark Sundt , recently sat down with John Gaffney from PYMNTS for an eye-opening conversation about the exciting future of AI and how it’s poised to revolutionize the business world. What is Multi-Party Computation , MPC One of the most exciting developments discussed was the Multi-Party Computation (MPC) model.
Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions. Security and compliance Receiving online payments makes your business an easy target for fraudsters and cybercriminals. Stax offers transparent monthly pricing plans for both emerging and established businesses.
At Stax, we describe that journey in three key phases: build, launch, and grow. This recent Stax Connect webinar brings together payment leaders and experts to discuss how vertical SaaS companies can successfully build, launch, and grow their payment initiatives. They should help you unpack your strategy and guide your developers.”
Fees include (but aren’t limited to) transaction fees, interchange rates, PCI compliance, and more. Step 4: The credit card processing companies send the payment to the business’s bank through a certified merchant services provider such as Stax. With Stax, your payment processing statement is simple.
An outsourced integrated payments support team could also assist business software users with their unique issues or questions about security and compliance. Outsourcing payment support can save costs, provide 24/7 assistance, and ensure compliance expertise.
For example, Stax Pay charges a fixed monthly membership fee which might not be the best option for very small businesses with low transaction volumes, but could be extraordinarily cost-effective for businesses that process more than $5000 per month. It also lets you accept and process in-person, online, mobile, and recurring payments.
As an independent software vendor (ISV) or eCommerce platform, these statistics mean that you should focus on function when developing products for your clients. Plug-and-play solutions are suitable for growing software businesses with limited development resources. This is where Stax Connect comes in.
Keep an eye out for hidden fees that may not be immediately apparent, like setup fees, monthly maintenance fees, PCI compliance fees, or chargeback fees. Beyond compliance, look for processors that offer advanced security features like tokenization and encryption, which add layers of protection to payment information.
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