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

Stax

To address evolving customer demands and accept electronic payments, you need a payment processing system. A good system plays a vital role in managing cash flow, alleviating fraud risk, and enhancing customer satisfaction. This article dives into what a payment processing system is, how it works, and its benefits.

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7 Steps To Help EHR Software Providers Grow Their Userbase and Revenue

Stax

Electronic health records, or EHR software, are a staple in modern healthcare organizations. More than 96% of hospitals use some form of EHR system to maintain records, which is good because it shows clear demand for the software. You also need to know what the current EHR systems lack to identify market gaps.

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Demystifying Credit Card Interchange Fees: What You Need to Know [2024 Rates and Updates]

Stax

To ensure the interchange fees you pay are reasonable and competitive, it’s essential to regularly review and negotiate your fee structure with your payment processor. Some others, including Stax, offer subscription-style processing that gives you access to the lowest rates of interchange.

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ISVs vs SaaS: What’s the Difference?

Stax

Some well-known examples are Adobe, a design and creator platform, Autodesk, a leading construction management system; and Meditech, a healthcare information systems solution. Deployment & Hosting Deploy software on-premises requiring compatibility with different operating systems. Consider Stax’s partner program.

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What is an ISV Partner? Here’s Everything You Need to Know About Independent Software Vendors

Stax

From healthcare to construction to finance, every industry is powered by digital solutions tailored to their unique needs. Think: cloud platforms and operating systems like Microsoft, Amazon Web Services (AWS), the Salesforce ecosystem, or a payment platform. What is an ISV Partner? Pro tip: plan ahead.

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Would My Business Benefit From Using A Contactless Virtual Terminal?

Stax

And while solutions like POS systems are perfect for in-person payments, what about when you need to offer remote billing or refunds, or if you need to process a customer’s credit card over the phone? A contactless virtual terminal can also serve as a backup to your point of sale (POS) system.

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Days Sales Outstanding Formula: What is DSO and How Do You Calculate It?

Stax

Customer payment behaviors How quickly or slowly your customers make payments has a direct impact on DSO, as timely payments by the due date keep DSO low. When interest rates are high, companies may have a less liquidity due to paying bigger loans or having difficulty securing lending, which has a knock-on effect on vendors.