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Adam Gray , Chief Transformation Officer at Stax, recently sat down with Hal Levey of PYMNTS to discuss emerging trends in payment processing and vertical integration. They are very good at what they do, Gray said, but they dont want to spend time on technology or payments.
Increase customer acquisition: To do this , focus on enhancing your lead generation and conversion strategies to bring in more customers. The Stax Solution Implementing MRR-based insights doesn’t have to be difficult; in fact, we’ve streamlined the process.At Here are some of the key ways you can scale your MRR.
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?
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. To improve the payment experience for consumers, card networks must innovate and incorporate the latest technologies. Talk to sales What Are Interchange Fees?
But the right solution offers far more than transaction supportit can elevate your business strategy. Support for digital wallets and emerging payment trends doesnt just improve the customer experienceit helps future-proof your business as technology evolves.
Even if you believe your technology is easy to set up and use, it may not be for the average person. Your software has bugs Product bugs and software issues are bound to happen when youre using any kind of technology platform. Contact sales 2. Bad software user experience User experience is everything when it comes to SaaS platforms.
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.
Join the payments-led growth movement Sign up to keep up-to-date with the latest trends in payments, vertical SaaS, and technology from industry experts. There are various lead generation strategies, such as free trials, gated content (like whitepapers locked behind a form), or events such as webinars.
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?
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.
An ISV partner is a software vendor that partners with an ISV and provides additional services or technology. 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.
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. Here’s what Lily has to say about this trend. “We’ve
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. Request a Quote
Keep in mind: Modern underwriting increasingly leverages technology to streamline processes and improve accuracy. 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.
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.
A payment processing system is a technology that facilitates the secure transfer of funds from a customer to a merchant. Modern digital payment processing systems Modern digital payment processing systems leverage cloud-based technology, APIs, and digital wallets to quickly and securely process transactions.
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.
Legal technology handles billables, case management, and document management. You and the software developers on your team should always be on the lookout for bugs and any updates for your legal technology. That is why your software should offer elements and benefits that other technologies lack.
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.
The first step is to find a partner that can provide the right payment technologies and services to your customers. How a PayFac like Stax can help A business can choose to open a merchant account on their own but the process can be laborious and time-consuming. How exactly can you get your users started with payments?
After all, there are many more payment options available than ever before, and each comes with differing costs and technology needs. 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. Get in touch!
Examples of popular SaaS apps include Shopify, an eCommerce platform, Dropbox, a cloud storage service, and Stax Bill, an automated payment processing system. These could include platform providers, hardware manufacturers, technology partners, channel partners, and system integrators. Consider Stax’s partner program.
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.
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!
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.,
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.
They charge a markup on top of interchange and assessment fees, which covers their services, technology, and the convenience of it all. This variety means there are strategies you can use to lower your overall costs associated with credit card transaction processing. Q: Can you decrease credit card interchange fees?
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.
That’s why you need to have a robust marketing strategy. As you interact with other professionals in the FSM industry, you also get to learn about emerging trends and technologies. Payment technologies – Not all payment providers are equal when it comes to the accepted payment technologies.
Cloud hosting and accessibility Cloud-based technology allows both vertical and horizontal SaaS platforms to scale seamlessly and offer users access to their applications via the internet, meaning they can use multiple devices and access data on the go. Contact us to learn more about Stax Connect.
shoppers as customers become more comfortable with the technology.” As stated by countless resources, mobile is the direction the payment technology space is heading. It pays to know exactly how mobile technologies will be impacting your business, or potentially already are. And with that, you’re up and running.
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.
Plus, leasing agreements provide small businesses access to the latest business technology they might not have had access to if they chose a credit card terminal they had to pay in full. Stax Payments’ membership-based pricing saves merchants hundreds of dollars per month. Want to save even more money on payment processing?
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. Prices may shift down or up at a moment’s notice. million price changes every day.
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. Leveraging technology, monitoring chargebacks, and addressing individual business factors help to reduce credit card fees and improve overall profitability.
Poor implementation of self-checkouts can add friction to the customer experience, so it’s important to design a tailored checkout strategy and smooth implementation. Select the Right Solution Consider cost, compatibility with existing systems, scalability, and user-friendliness of the self-checkout technology.
This guide explores the ins and outs of SaaS upselling, from the strategies that work best to the tools and timing that maximize results. Top upsell strategies include offering advanced features, expanding seat count, and introducing payment processing capabilities. What is SaaS Upselling? Consider the following.
While technology is constantly evolving, some of the more common automated KYC approaches in (digital) onboarding involve using AI algorithms, third-party API integrations, and OCR. Wrapping up If you’re searching for a powerful payment service provider that puts compliance front and center, look no further than Stax Connect.
You should start by ensuring your pricing strategy is up to snuff. Optimize Your Pricing Strategy Pricing strategy refers to the approach that businesses use to set the prices of their products or services. Study your competitors to understand their strengths, weaknesses, and strategies. Learn More 1.
Stripe also integrates with business intelligence platforms for advanced analysis, helping businesses optimize financial strategies and drive growth. Its cloud-based architecture supports businesses without requiring large upfront investments in new technology. This robust support system is a significant advantage over Stripe Connect.
They work using NFC and RFID technology. Contactless technology isn’t just fast and convenient, but also provides a secure way to make payments. There are two technologies that make contactless payments possible — Near Field Communication (NFC) and Radio-frequency identification (RFID). How do Contactless Payments Work?
Coordinated sales and marketing: CRM tools help align sales and marketing strategies. A successful CRM implementation is about aligning technology with business goals, and it requires careful planning, execution, and continuous evaluation. This means you can promote seamless lead generation, conversion, and efficient collaboration.
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
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.”
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