Stax

DECEMBER 20, 2023

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.

Payment Services 167

Payment Services Merchant Services Payment Methods Payment Solutions 167

Stax

MAY 7, 2024

Credit card merchant fees are split between multiple key players- merchants, credit card networks, banks, and processors. Interchange fees are set by credit card issuers, such as Bank of America, Citi, or Chase, and are adjusted every year in April and October. Payment processors who’ve popularized this model include PayPal and Square.

Merchant Services 88

Merchant Services Payment Services Payment Methods Accept Credit Card Payments 88

Stax

NOVEMBER 6, 2023

Thanks to these modern payment solutions, credit card, and debit card users can now complete their purchases without swiping or inserting their cards at the point of sale (POS) terminals. With the promise of increased sales and a better reputation, it seems like it is par for the course to adopt a mobile payments solution.

Payment Methods 88

Payment Methods Payment Services Mobile Payments Merchant Services 88

Stax

APRIL 18, 2024

For a merchant to accept credit cards, they need to pay both credit card processing fees to the banks involved and for the soft and hardware required to process cards. Acquiring Bank (Merchant Bank): The financial institution that establishes and maintains the merchant’s account, enabling them to accept credit card payments.

Merchant Services 88

Merchant Services Payment Services Payment Methods Payment Solutions 88

Stax

NOVEMBER 13, 2023

In 2015, many merchants switched to NFC-enabled terminals; by 2019, most banks were issuing contactless cards. Visa, Mastercard, and the customer’s bank) for authorization. NFC even enables smart packaging to provide customers with product and usage information at the point of sale.

Merchant Services 88

Merchant Services Payment Methods Payment Services Payment Solutions 88

Stax

MARCH 14, 2024

Generally, but not always, B2B transactions tend to occur less frequently but at far higher amounts, involving extended sales cycles, negotiations, contracts, and on-going relationships between the two businesses. Cross-border B2B payments can be complicated due to currency conversions, regulatory compliance, and varying banking systems.

Payment Services 88

Payment Services Merchant Services Payment Methods Payments 88

Stax

FEBRUARY 28, 2024

But if you’re a B2B solution, there’s a high likelihood that businesses will be interested in being able to accept customer payments, rather than just sending them a PayPal link or to a generic payment gateway. The exact process varies depending on the software you use, but Stax Bill features a user-friendly interface for such adjustments.

Payments 88

Payments SaaS Payments Payment Services Merchant Services 88