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How to Choose Between EFT vs ACH: A Comprehensive Guide

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Security and compliance ACH provides extra protection against fraud for high-value transactions because they pass through the ACH automated clearing house and NACHA regulations. You want to simplify payroll processing and government deposits. Make the most out of your payment method with Stax. per payment batch.

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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

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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?

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

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To choose the right payment processing solution for your business, you need to evaluate your business needs, evaluate security and compliance standards, and evaluate different payment processors based on pricing, features, customer support, and scalability. This is where Stax comes in.

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How to Maintain Anti-Money Laundering Compliance as a PayFac

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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.

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What is a Payment Management System?

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Look for a PMS that can serve as an all-in-one platform for payment processing, integrates with other technologies, offers appropriate POS equipment, and prioritizes security compliance. Secure payment comes standard: Make sure your PMS meets Payment Card Industry compliance standards—this is a non-negotiable.

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

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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. Keep 100% of your revenue in full compliance.

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5 Benefits of ACH Payments Over Check Payments

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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. The ACH network is governed by a variety of regulatory bodies. in payment volume growth in Q4 2021. NACHA’s core mandate is to ensure the security of ACH transactions.