Remove compliance Remove Government Remove Payment Features
article thumbnail

Everything You Need to Know About Secure Payment Processing Systems

Stax

Data protection and security are crucial not just for safeguarding customer information, but for protecting business owners as well. Having and maintaining secure payment systems is integral for protecting yourself and your customers. Enter secure payment systems (SPS). What Are Secure Payment Systems?

article thumbnail

5 Benefits of ACH Payments Over Check Payments

Stax

ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. In fact, NACHA, the nonprofit that governs the ACH payments network reported 6.1% in payment volume growth in Q4 2021. The ACH network is governed by a variety of regulatory bodies.

Insiders

Sign Up for our Newsletter

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

article thumbnail

What is a Payment Management System?

Stax

TL;DR Payment Management Systems manage payment processing so you can accept payments, send invoices, track transactions, and view financial data. Government agencies have a payment management system to manage grant award payments, making the search for payment management system information more complicated.

article thumbnail

Everything You Need to Know About Credit Card Processing

Stax

They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor. Fees include (but aren’t limited to) transaction fees, interchange rates, PCI compliance, and more. Simple Flat Rate Subscription Pricing Subscription-based pricing models are very often the best choice for companies.

article thumbnail

Recurring Billing: Definition, How it Works, and Best Practices

Stax

For businesses offering subscriptions, memberships, retainers, and other recurring services, recurring billing is a powerful solution to streamline processes and ultimately enhance revenue generation. Consider this: Consumers are already conditioned to the subscription model. Learn More What is Recurring Billing?

article thumbnail

How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

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.

article thumbnail

Understanding Payment Processing Compliance When Implementing Credit Card Surcharging

Stax

Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. It offers benefits, such as passing interchange fees to users, boosting profit margins, and encouraging alternative payment methods. Utilizing global payment networks (Visa, Mastercard, etc.)