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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?
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.
In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.
This helps them to cover operating expenses and invest in initiatives that help to grow their business, such as promotions, marketing strategies, and customer experience strategies. This may result in delays in refunding that money—especially if it has a big impact on working capital.
There are various lead generation strategies, such as free trials, gated content (like whitepapers locked behind a form), or events such as webinars. Are you offering demos, trials, or dynamic pricing strategies for premium functionalities? As a SaaS company, the best lead generation asset is your product itself.
While interchange fees are unavoidable, there are strategies to help minimize their impact, including choosing a cost-effective payment processor, implementing surcharging, and more. One such strategy includes implementing credit card surcharging to offset the cost of interchange fees. Request Quote What Are Interchange Fees?
These programs enable SaaS or cloud solutions companies to expand their reach, enhance their offerings, and accelerate their market penetration or go-to-market strategy. Security and compliance Your ISV partner program should prioritize stringent data protection measures to safeguard sensitive information.
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.
Non-compliance can lead to hefty penalties and even suspension of their merchant accounts. Merchants should be aware of Visa’s surcharging rules as non-compliance can lead to fines ranging from $50,000 to $1 million. All this can be challenging, so it’s best to partner with a surcharging expert like CardX by Stax.
Examples of popular SaaS apps include Shopify, an eCommerce platform, Dropbox, a cloud storage service, and Stax Bill, an automated payment processing system. Consider Stax’s partner program. ISVs that integrate their solutions with Stax Connect gain access to the platform’s global reach, co-selling opportunities, and support.
Here’s a step-by-step strategy you can use to boost sales for your EHR tools: TL;DR Electronic health records, or EHR, is a software used to maintain patient records across multiple facilities. However, the right strategy and tips can help expand an EHR software’s user base.
Hybrid models Hybrid models combine elements of fixed and variable recurring payments, offering businesses the flexibility to adapt their billing strategies based on the nature of their products or services. Businesses need strategies in place to retain customers and prevent revenue loss due to subscription cancellations. Get in touch!
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. To find out whether Stax Connect may be the right partner for you, contact us today.
Non-compliance with these regulations can lead to enforcement actions from federal regulatory agencies. Track these changes and maintain thorough and up-to-date documentation of your compliance to avoid penalties. CardX simplifies this process by integrating compliance features into your POS systems. Request a free demo today.
Understanding interchange fees enables merchants to effectively manage processing costs, negotiate better rates, make informed decisions about card acceptance, and ensure compliance with payment industry standards. Surcharging ensures cost recovery but requires compliance with regulations and customer education for long-term success.
If you’re not sure where to start, keep reading to find out the benefits of implementing surcharging, how to ensure legal compliance, and how you can use technology for smooth sailing in the surcharging landscape. How Does Surcharging Compare to Other Fee Management Strategies? along with our thoughts on how effective they might be.
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. With proper integration, they can minimize billing errors, enable adaptive pricing strategies, and provide real-time insights to enhance overall efficiency. Real-time insights.
This article explores the legal landscape surrounding surcharges, shedding light on the intricacies of state and federal laws and strategies for small businesses to manage processing costs. CardX by Stax helps businesses optimize costs and ensure compliance with surcharge laws. Get in touch!
Vertical SaaS solutions are tailored for specific industries, addressing niche needs with in-depth customization and compliance with industry standards. This set of SaaS tools gives HubSpot a simple but powerful value proposition; it’s the engine for your entire inbound marketing strategy. Contact us to learn more about Stax Connect.
Is your company taking advantage of CFO tools like automated invoicing, database management, and automatic tax-compliance updates? Stax prides itself on being more than just an invoicing platform. Sales Tax and Compliance Tools. If not, read on. Finance and Billing Tools.
While you can’t avoid the rate hikes, there are strategies and resources available to help merchants mitigate the impact. Compliance and Regulation: Changes in regulations or compliance requirements can also influence interchange rates. Improve your customer retention strategies.
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.,
Without strategies in place, disbursements can chip away at your hard-earned bottom line. Cost recovery, industry standards, regulatory compliance, and consumer sensitivity are key factors to consider when calculating surcharges. Regulatory Compliance. Identify peak demand periods first before implementing a pricing strategy.
How to implement mobile credit card processing Implementing mobile credit card processing involves several key steps, from selecting the right hardware and software to ensuring security and compliance. Be prepared to adapt and evolve your mobile payment strategy as your business grows and customer preferences evolve.
To choose the right KYC provider, some of the factors you should look at are if the provider offers automated KYC processes, integration with existing systems, future-proof scalability, and full compliance with regulatory requirements. While internationally CDD can be seen as a key component of KYC compliance, within the U.S.,
PCI-compliance fees – Businesses running credit card transactions must be compliant with the Payment Card Industry Data Security Standard (PCI DSS). The average PCI compliance fees vary depending on various factors, such as business specifications. Stax is one card payment processor that uses this pricing model.
By understanding how credit card companies charge merchants and how these fees are calculated, businesses can explore optimization strategies to manage and reduce some of these costs. PCI compliance fees. Common types of fees that merchants should be aware of include: interchange fees payment processing fees chargeback fees.
By the end of this guide, you’ll have `a clear overview of its operational framework, strategic benefits, best practices, and advanced strategies to maximize this powerful, rapidly rising payment tool. Contact Stax Payments today to learn more about their recurring billing and payment processing solutions.
You must also ensure compliance with card network regulations. Compliance – Cash discount programs are regulated under various legislations. Your provider should be able to reprogram your payment hardware and software, create a robust cash management strategy, and ensure compliance.
That’s why you need to have a robust marketing strategy. Stax Connect ticks all of these boxes. On top of providing all the tools users need to accept payments, we also ensure security and compliance in all payment transactions. There are various aspects of customer management and CX that FSM software providers can maximize.
cost of processing, merchant service fees, and additional fees like chargeback fees, compliance fees, equipment fees, monthly fees, etc.) TL;DR A cash discount program is a pricing strategy in which businesses offer customers a discount on the posted price of an item if they choose to pay by cash. that cut into profit margins.
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., Maxio advertises their ability to accommodate any go-to-market strategy (i.e., And more…. …
Or maybe you want one with customer management features to help you with personalized marketing strategies. For example, you can integrate your POS system with a payment processor like Stax Payments and enjoy fair payment processing rates, third-party app integration, and comprehensive reporting. How many stores do you have?
Coordinated sales and marketing: CRM tools help align sales and marketing strategies. Streamlined compliance and security: Need to keep your legal ducks in a row? Streamlined compliance and security: Need to keep your legal ducks in a row? Monitor and analyze ROI to understand the value it brings to the organization.
Data analytics: the provider must offer extensive data analysis tools and features to help you track transaction data in real-time, and gain valuable insights that can help you improve customer experience, marketing strategies, and other business offerings. Your provider should help with this.
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. Consumers pay more for the convenience. Interchange fee management.
As your MoR, we take on transaction liability for you which means we take the lead on compliance, audits, chargebacks, and more. Related: Top 10 International Payment Gateways: An In-Depth Guide Plus, we take the lead on: Compliance with card networks and issuing banks. Fraud detection. Chargebacks. You can read those reviews here.
In a recent interview with Austin Prey from PYMNTS , Adam Gray , Chief Transformation Officer at Stax, shared his perspective on the challenges and opportunities facing independent software vendors (ISVs) as they integrate payment solutions to meet the diverse needs of their merchant customers. Contact sales
To choose the right solution, you need to look at various factors when evaluating potential providers, including supported payment types, transaction fees and pricing structures, payout speed, and PCI DSS compliance. Whats your model, your strategy? Stax, for example, supports multiple modes of payment. Who are your customers?
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.”
Also, check for compliance with PCI requirements, which protect cardholder data and implement robust access control measures. This is where Stax Connect comes in. Security considerations Security is vital when dealing with sensitive credit card details. You might have to integrate via API keys or plugins.
High chargeback ratios can still harm a merchants reputation with payment processors, making prevention a critical strategy. Work with a Payment Processor that Offers Credit Card Chargeback Protection Some payment processing platforms (including Stax) offer features that help businesses avoid chargebacks.
Regardless of which software you choose, know that Stax can easily connect with both. Our direct integration with QuickBooks enables you to connect your accounting software with Stax’s payments platform. If you’re using Xero, you can connect Stax through Zapier with just a few clicks. Q: Do I need a CPA if I use QuickBooks?
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