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How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

To choose the right payment method, consider transaction volume, transfer speed, cost, and security. ACH payment is more affordable and can be automated and payee-initiated, making it ideal for recurring transactions and subscription payments. With other EFT methods, only the payer can send payment manually.

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How are Interchange Fees Calculated?

Stax

Apart from keeping complex payment structures running, interchange fees compensate issuing banks for taking on cardholder credit risk, and help card companies fund rewards programs. Interchange fees (or swipe fees) might appear to be just a cost merchants pay to accept card payments. Talk to sales What Are Interchange Fees?

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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?

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

Stax

Acquiring bank – The financial institution that receives payments from the issuing bank on behalf of the merchant. Card networks – The organizations that govern credit and debit card transactions. They set interchange fees and security standards for processing payments. Do you process international payments?

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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.

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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.

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

Stax

Billing and invoicing software (e.g., Stax Bill) Order Management Fulfillment of orders according to agreed terms. QTC software for task allocation and updates Billing Invoice generation post-order completion. Billing and invoicing software Revenue Recognition Recording incoming revenue per accounting standards (IFRS, GAAP).