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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?
Understanding the difference helps you pick the best payment strategy. Simplify Your Payment Process with Stax ACH is a more affordable and secure option for making and col lecting recurring non-urgent payments. Make the most out of your payment method with Stax. Your payment strategy doesnt have to be complicated.
While interchange fees are non-negotiable, knowing the factors that govern them and how they are calculated, can help you employ suitable strategies to offset these costs. Stax , for example, charges a monthly membership fee to process transactions regardless of how many transactions you process (within your applicable tier).
In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy.
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.
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.
If youre using a payments platform like Stax, you can watch these metrics there – particularly if you integrate it with your customer relationship management platform. 3 Strategies to Prevent Software Customer Churn With all of that said, lets talk about how you can not just stop, but actually prevent it from happening.
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?
Having a strategy to monetize payments gives SaaS companies an additional revenue stream while enhancing the customer experience and reducing customer churn. You also should evaluate your pricing strategies, some of which include value-based pricing and cost-plus pricing. Enter payment monetization.
In this article, we explore why payments-led growth can be a winning strategy for SaaS and what you can do to capitalize on users’ need for payment processing. Big Time, a platform that helps professional service firms track and manage their projects, uses Stax Connect to power its billing and payment features.
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. This iterative process enables proactive optimization of partnership strategies, ensuring alignment with your evolving business goals and market dynamics.
As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed.
We caught up with payment experts from Forrester and Stax to help you navigate these evolving times and achieve success with embedded payments. They’re willing to take things slower, mature their business strategies, and focus on reducing debt overhangs. Watch the discussion below or check out some of its highlights in this article.
For example, businesses with a history of chargebacks should implement strategies to reduce disputes. Explore how Stax simplifies merchant underwriting and helps your business accept payments seamlessly. Address potential red flags: Proactively resolve issues that could raise concerns during the review process. Contact us today.
The high-level data security strategies and protocols give you a secure environment to receive payments without compromising customer data. This is where Stax comes in. This is particularly important for small businesses operating on tight budgets and cant afford to wait for extended periods for the funds to be processed.
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.
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.
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.
This is where Stax Connect comes in. With Stax Connect, you can enable sofware users to accept everything from credit and debit card payments to ACH and eChecks. With Stax Connect, you can enable sofware users to accept everything from credit and debit card payments to ACH and eChecks.
SaaS companies can avoid having to integrate their software with that of gateways and banks, undergo thorough merchant underwriting, and submit mountains of documents by working with a trusted PayFac like Stax to make their software more comprehensive for their clients. What Is Merchant Underwriting?
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!
All this can be challenging, so it’s best to partner with a surcharging expert like CardX by Stax. It’s best to partner with a payment processor like CardX by Stax that not only helps you handle all the paperwork but also ensures compliance with all regulations. are the most important ones to be mindful of.
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.,
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. How Does Surcharging Compare to Other Fee Management Strategies? What are the Benefits of Using a Surcharging Program for Merchants?
The good news is that with a solution like Stax Connect, this need not be difficult or complicated. The good news is that with a solution like Stax Connect, this need not be difficult or complicated. Stax Connect has the capabilities to help you build a complete payments ecosystem from scratch in just a month’s time.
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!
Small businesses can thrive on SBS with these 8 tips: (1) Lay the groundwork with past data, (2) enhance digital presence, (3) improve the in-store experience, (4) run marketing campaigns, (5) promote special offers, (6) engage the community, (7) collect feedback, and (8) develop post-event strategies. Small Business Saturday , a.k.a.
Stax Payments’ membership-based pricing saves merchants hundreds of dollars per month. To save money on credit card machines, consider these strategies: Compare pricing models of different providers to find competitive rates. Want to save even more money on payment processing? Contact us to learn more.
If you see declining card purchases or increasing complaints, you may need to reevaluate your surcharge strategy. Start Surcharging with CardX by Stax CardX by Stax delivers advanced solutions for surcharge management. Test surcharge policies with a pilot program in select locations or customer groups before a full rollout.
This variety means there are strategies you can use to lower your overall costs associated with credit card transaction processing. This strategy offers transparency and allows businesses to maintain their profit margins while offsetting the cost of processing card payments.
When you’re offering a product or service that renews at regular intervals, having a billing strategy that aligns with this unique offering is vital. Decide on your pricing strategy There are two key parts to setting up recurring billing. However, this probably won’t prove to be an effective strategy in the long run.
In this blog, we’re going to explore the importance of DSO, how to calculate it, and strategies to help improve DSO to create a healthier business. Case in point: Stax Bill , a recurring billing and subscription management platform that automates payments.
Here are Stax’ Top Credit Card Processing Tips. Analyzing this data in the reports your processor provides can help tailor marketing efforts and improve overall business strategies. Many of our tips apply to how Stax works, with no contracts, surcharges, and optimized terminals that pair perfectly with our subscription pricing plans.
TL;DR The SaaS Magic Number is a metric, somewhat similar to ROI, but designed to assess the efficiency and effectiveness of a company’s sales and marketing strategies. The SaaS Magic Number is a metric, related to ROI, but better designed to assess the efficiency and effectiveness of a company’s sales and marketing strategies.
This set of SaaS tools gives HubSpot a simple but powerful value proposition; it’s the engine for your entire inbound marketing strategy. And if you’re planning to offer credit card processing services with your software, be sure to partner with a solid payment facilitator like Stax Connect. Contact us to learn more about Stax Connect.
Chargify is a powerful B2B SaaS subscription management software that enables you to employ complex pricing strategies (like prepaid usage or real-time multi-attribute billing), so you can bill exactly the way you want—without the time or financial investment of building out a custom solution.
While you can’t avoid the rate hikes, there are strategies and resources available to help merchants mitigate the impact. So a few other strategies you can employ to either avoid raising prices completely or raise them a smaller amount are: Train your staff in transaction optimization. Improve your customer retention strategies.
Stax, for instance, offers fully transparent pricing and a wide range of capabilities able to accommodate your business’s needs now and as it grows. Be prepared to adapt and evolve your mobile payment strategy as your business grows and customer preferences evolve. And with that, you’re up and running.
What makes this pricing strategy so appealing to businesses? Together, these strategies have paved the way for more sophisticated and responsive dynamic pricing systems, which use machine learning to make thousands of pricing decisions per minute. This is where Stax comes in. Prices may shift down or up at a moment’s notice.
That’s why you need to have a robust marketing strategy. Stax Connect ticks all of these boxes. They include: Support and training Customer support refers to strategies and systems used by a business to serve its customers the best way. Gathering customer feedback helps you understand how your customers think and act.
Stax is one card payment processor that uses this pricing model. There are some strategies you can use to help you lower your processing fees. If you’ve decided to implement surcharging, partner with a reliable surcharging partner, like CardX by Stax. The benefit of this pricing model is transparency and predictability.
Founder of CardX by Stax, Jonathan Razi , highlights some important points about true cash discount programs and why many of them are non cashcompliant. Thankfully, surcharge processing companies like CardX by Stax can help you understand cash discounting programs and how to implement them.
Without strategies in place, disbursements can chip away at your hard-earned bottom line. Know what works best for your business to optimize your pricing strategy without alienating customers. Identify peak demand periods first before implementing a pricing strategy. Every transaction has a cost. Percentage-Based.
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. This is where CardX by Stax comes in. Consider surcharging Credit card surcharging can help you lower payment processing costs in several ways.
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