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Acquisition of BlockChyp brings new technology and industry expertise to Stax, furthering its evolution as a leading payment processor ORLANDO – October 1, 2024 – Stax , a leading payment technology provider, today announced its acquisition of BlockChyp , further expanding the company’s end-to-end processing capabilities.
The average churn rate for the software industry as a whole is 14%. As a SaaS business leader, reducing software user churn is an important part of maintaining your customer base and increasing revenue. TL;DR The average software industry churn rate is 14%, but SaaS companies should aim for under 2%.
When can revenue NOT be counted as revenue? The concept of unearned revenue can easily trip up SaaS companies that offer subscription services and products on a recurring basis. Unlike when selling ordinary products, you cannot recognize the revenue earned from a subscription all at once.
“In an era where technology shapes the future of payments, Stax’s vision to revolutionize embedded payments aligns perfectly with my passion for risk prevention,” said Neiconi. Stax helps drive incremental revenue through frictionless, secure, and reliable payment processing and recurring billing solutions.
Experienced payments and sales executive joins Stax leadership team to drive accelerated growth for Stax Connect and embedded payments. Stax Payments , Inc., As head of ISV Business Development at Stax, Krahl will drive market penetration into key Stax industries such as field services, healthcare, and professional services.
Stax Payments , a leading payment technology provider, has appointed Mark Sundt as Chief Technology Officer. As CTO, Sundt will accelerate the delivery of new products, features, and functionality that unlock and drive increased value for Stax customers and partners. To learn more about Stax, visit staxpayments.com.
As industry leaders in billing software, our mission is to help our customers work more efficiently, recover more revenue, and effortlessly collect invoices. Stax Bill simplifies invoice and subscription billing management by automating manual financial processes. said Suneera Madhani, founder and CEO of Stax. “The
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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?
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. But in such a saturated market, selling your EHR software and expanding your user base can be difficult.
On top of being a new pillar of revenue for your business, the PayFac model also gives you more control. Ensure it integrates with accounting software like Xero, QuickBooks, and FreshBooks for streamlined financial tracking and tax reporting. The sub-merchant can begin accepting payments in as soon as 15 minutes from the application.
Selecting the right payment processing software is crucial for any business aiming to streamline transactions and enhance customer experience. Factors to Consider When Choosing Payment Processing Software Below are factors you must consider before choosing a payment processing software platform for your business.
Data cited by Statista shows that the software as service is expected to hit $299 billion by the end of 2025. Part of this can be attributed to the SaaS model’s unique aspect of relying primarily on future revenue. It makes most of its revenue from immediate, one-time purchases, like a bedroom set. Customer lifetime value.
Subscription models offer companies large and small the opportunity to build predictable revenue and high customer lifetime value. This could be a subscription box, a SaaS (Software as a Service) product, or even just a streaming platform like Netflix.
An ISV partner is a software vendor that partners with an ISV and provides additional services or technology. From fostering strategic alliances to unlocking new revenue streams, the choice profoundly impacts a SaaS company’s trajectory. Its purpose? To foster symbiotic relationships that drive mutual growth.
Systems used for this include payment gateways , subscription billing software, and eCommerce platforms with built-in payments. For example, if you offer a SaaS product for inventory management, the system integrates payments to help your users accept payment directly on the software.
Software companies are always on the lookout for new ways to build a better product offerings for their customers. This is especially true now more than ever before as Software-as-a-Service (SaaS) solutions continue to be amongst the fastest-growing segment within the tech world. What is Payment Monetization?
Instead of pouring resources solely into acquiring new customers, smart SaaS businesses focus on increasing revenue from existing customers by guiding them to higher tiers, unlocking premium features, and expanding their usage. Lets say your customer has been using your billing software to send out invoices.
We caught up with payment experts from Forrester and Stax to help you navigate these evolving times and achieve success with embedded payments. The right payment partner can offer the latest payment technology, support infrastructure, reliability, and revenue growth. The demand for embedded payments is huge.
Luckily, you may not need to spend much on new hardware, software, and other setup expenses if you already own the required infrastructure in your existing business. You also need to weigh the cost implications of implementing a new payment system. Your provider should help with this.
That’s where Stax comes in. Protect All Systems Against Malware and Regularly Update Anti-virus Software or Programs This requirement focuses on deploying anti-virus software on all systems commonly affected by malicious software. Stax is a Level 1 PCI Service Provider. So how can your business stay PCI compliant?
Businesses can take steps to minimize these charges in order to maximize their revenue. They consist of the hardware and software components required to process an in-person payment. Top Merchant Processing Companies Merchant processing companies provide businesses with the equipment and software required to accept electronic payments.
It helps to streamline and automate the entire sales cycle, increasing efficiency and spurring higher revenues. TL;DR Quote to Cash (Q2C) is a process that covers all the steps involved in initiating and completing a sale from configuring quotes for potential customers to collecting and recording the revenue from the finalized sale.
Software-as-a-service (SaaS) businesses need to constantly evolve their offerings to stay fresh and relevant. How do you add payment processing capabilities to your software? 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.
Offering payment processing services is a move that makes sense for a lot of SaaS companies, particularly if your software helps your customers run their business. For example, if you have a project management app, then you can add payment features that allow people to use your software to take payments from their clients.
The writing on the wall is clear—businesses need to start accepting digital payments and software providers need to start offering payment services one way or another. TL;DR An independent software vendor (ISV) develops and sells software applications independently of hardware manufacturers. What Is an ISV vs PayFac?
Finance reports : [emphasis added]: “In the 2023 third quarter, Shopify’s subscription solutions revenue was $486 million, or 29% of the total $1.7 Monthly recurring revenue was $141 million. In the third quarter, Shopify took in revenue of $1.2 billion from its merchant solutions segment.
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TL;DR A payment facilitator (PayFac) is essentially a SaaS vendor or software provider that enables its users (businesses) to accept online payments from their customers through the platform itself. If you’re on a tight budget, partnering with an ACH PayFac that operates on a custom revenue-sharing model would be the best option.
Essentially, it’s a piece of software that creates a secure tunnel for customers to connect with and transfer funds to merchants in online transactions. It’s also the software in your POS system or card readers that processes the customer’s payment data in a brick-and-mortar setting. What Is a Payment Gateway Account?
Thankfully, with mobile payments from Stax , you can quickly accept and process payments from your customers. Learn all about mobile payments and why you may want to consider joining the Stax family to streamline payments and boost your small business’ productivity. This will directly lead to an increase in sales volume and revenues.
For example, if you’re an invoicing software provider that lets SMBs manage their billing, then it makes sense to add payment processing tools to your platform. Doing so not only streamlines the payment process for your merchants but also opens up a new revenue stream for your company through transaction fees or value-added services.
In this guide we will discuss the following: What is Payment Tokenization How Payment Tokenization Works Payment Tokenization vs. Encryption SaaS Payment Tokenization Requirements Benefits of Payment Tokenization SaaS Payment Vulnerabilities Using Stax Connect and Payment Tokenization Lets get started. What Is Payment Tokenization?
FastSpring: Subscription Management, Payment Processing, and Much More for SaaS and Software Companies FastSpring helps SaaS companies (and companies selling digital goods and one-time downloads) manage the entire payment lifecycle, from subscription management to remitting end-of-year taxes. Chargebacks.
These tools allow you to do the above and more, benefitting your company by providing affordable and scalable software solutions to common time-consuming financial operations. SaaSOptics is the bridge between a company’s CRM and general ledger that prevents revenue from falling through the cracks. If not, read on. SaaSOptics.
While Chargebee lets you automate many mundane accounting tasks and integrate with account software, you still have to track and record every transaction, refund, etc. Most Chargebee alternatives are either subscription billing software or payment gateways. All revenue is yours, but FastSpring is the liable party for the sale.
The commerce landscape—whether it’s retail, services or software—is moving faster than ever. Recurring payments provide greater predictability for cash flow and allow businesses to plan for future revenue more accurately. Recurring payments play a major role in ensuring a steady and predictable recurring revenue stream for businesses.
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It’s important to note that a PayFac may have its own in-house payment processing and even payment gateway software platforms for their partners to use. And while some businesses might find this frustrating, others might be relieved not to string together a payment processing software stack themselves.
So, of course when it came to revenue-driving activities, Ford knew that success in marketing—and business—wasn’t about how much your marketing spend is, but how efficiently you spend it. For modern Software as a Service (SaaS) companies, the automobile is replaced by primarily digital and cloud-based solutions and software.
Here are Stax’ Top Credit Card Processing Tips. A large part of that was simply lost customer revenue. Part of this includes performing regular maintenance on your hardware- and software, and ensuring that your settings are configured for reduced friction. Request a custom quote to see how Stax Pay can work for you.
Integration with your accounting software, CRM, or inventory system saves you time and effort when analyzing financial performance. Point-of-sale (POS) systems are the all-in-one systems you see at retail stores, handling in-person transactions and often integrating with inventory management software. What Are the Benefits of a PMS?
There’s no denying that it’s an ideal strategy to help maximize your revenue and improve your cash flow, as you’ll be able to save upwards of thousands of dollars via processing fees each year. However, with non-cash payments constantly on the rise, most businesses will lose out on revenue if they only take cash.
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