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

Stax

Set rate processing Subscription rate processing TL;DR Interchange fees are not collected by your payment processor or bank; they go directly to the card-issuing banks. Interchange fees vary significantly depending on the card issuer, the issuing bank, type of transaction and/or merchant type.

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Recurring Payments: Definition and Implementation Best Practices

Stax

For subscription businesses, the customer’s account should also include options for subscription management where they can adjust the frequency of deliveries, pause or cancel the subscription, update card information or bank account information, and more. Why Accept Recurring Payments? Get in touch!

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How Adopting Mobile Payments Can Help Your Business Grow in 2024

Stax

There are many options available that plug into existing smartphones and tablets , such as the Swipe Simple B250 Reader available from Stax , to solve this problem effectively. Resistance to new technology can be a tough obstacle, so invest in training and make sure your employees are comfortable and well-versed.

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Understanding Risk Management Strategies as a PayFac

Stax

They would then request a chargeback from their bank instead of requesting a refund from the seller—which essentially constitutes friendly fraud. As a PayFac, you have to invest in cutting-edge risk management technology to stay a step ahead of fraudsters. Contact our team today to learn how. <img

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CFO Tools You Should be Using in 2022

SaaSOptics

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.

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What is a Merchant Cash Advance and is MCA Right for You?

Stax

On the flip side, however, traditional bank loans are a more affordable business funding option since there are strict regulations on how much lenders can charge as interest. The lender will take a predetermined percentage of your daily or weekly sales until the advance amount plus factor rate and other charges are fully repaid.

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What is an Online Terminal and Why Do Merchants Need One?

Stax

Key features of online terminals include: Multi-Channel Payment Processing: Online terminals can process payments from various sources, such as credit cards, debit cards, e-wallets, and, in some cases, bank transfers. Training the terminal’s users Invest in solid training for your staff.