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

Stax

It links the merchants eCommerce store or point of sale (POS) system and the financial networks involved. Heres a step-by-step breakdown of a typical transaction: Customer initiates payment – The customer initiates a payment by entering their payment details online, in a mobile app, or a POS system.

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How are Interchange Fees Calculated?

Stax

In 2023, 27% of all point-of-sale (POS) payments were made using credit cards while 23% were made with debit cards. Think AI-powered anti-fraud measures and contactless payments such advancements are funded by interchange fees. To learn how you can offset your credit card processing costs with Stax, contact us today.

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The Ultimate Guide to Ecommerce Payment Solutions

Stax

On the other hand, brick-and-mortar retail stores may require physical POS solutions. For example, a small online boutique with 100-200 monthly sales could prioritize a payment solution with easy setup, low monthly fees, and pay-as-you-go pricing. AI-driven fraud detection and prevention is becoming the new standard.

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How ISV Partnerships and Integrations Can Drive Business Growth

Stax

As anISV, Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses. For example, in fintech, ISVs provide specialized payment processing solutions that integrate with point-of-sale (POS) systems, enhancing transaction security and efficiency.

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The Most Common Types of Contactless Payment Methods and How They Work

Stax

Use case: Customers can pay by tapping their smart devices into the vendors NFC-enabled POS. Future-proof your payment processes with Stax Future-ready businesses embrace contactless payments to stay competitive. Adapt, scale, and optimize your payment processes with Staxs industry-leading tools and transparent pricing.

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POS Systems For Retail Stores: How They Work And How To Select The Best System For Your Business

Stax

There are a few things a business can do withoutand a retail POS system isnt one of them. Traditionally, POS was just a collection of hardware used to ring up sales, process simple transactions, and print receipts. Today, POS systems have evolved. Talk to sales What is a POS System?

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The Ultimate Guide to Online Payment Processing

Stax

For example, Stax Pay charges a fixed monthly membership fee which might not be the best option for very small businesses with low transaction volumes, but could be extraordinarily cost-effective for businesses that process more than $5000 per month. It also lets you accept and process in-person, online, mobile, and recurring payments.