article thumbnail

Payment Security: Everything You Need to Know About Secure Payments

Stax

In 2023, the cost of fraud to online businesses was $48 billion globally, according to Mastercard. Taking precautions to implement security measures such as secure firewalls and cybersecurity training helps to protect cardholder data and other sensitive information. Fraud and chargebacks also cause significant losses for businesses.

article thumbnail

ISVs vs SaaS: What’s the Difference?

Stax

While they operate under different business models, ISVs and SaaS share similarities in software development, cross-platform accessibility, and industry reach. ISVs, or Independent Software Vendors, are businesses that develop and distribute software products to end-users. Learn More What are ISVs?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Recurring Payments: Definition and Implementation Best Practices

Stax

That’s why businesses are constantly seeking innovative ways to streamline operations and enhance customer experiences. Industry data shows that subscription-based businesses are growing 3.7x So, let’s dive into the realm of recurring payments and how they can benefit your business. faster than companies in the S&P 500.

article thumbnail

Understanding Risk Management Strategies as a PayFac

Stax

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. Even the organizational shake-up that comes with the decision to become a PayFac may disrupt your core business.

article thumbnail

Ultimate Guide to Surcharges: What is a Surcharge and How Does It Work

Stax

This is how surcharges have become a staple solution, and they’ve helped businesses stay afloat in the sea of overheads. Surcharges are diverse in form and purpose to serve businesses across sectors. Businesses initially collect surcharges to recover additional costs incurred during transactions. Every transaction has a cost.

article thumbnail

Understanding Payment Processing Compliance When Implementing Credit Card Surcharging

Stax

Is your business experiencing an increase in complaints from customers about hidden fees or unexpected charges? Implementing surcharging involves analyzing pricing strategy impact, communicating policies effectively to customers, and reviewing technical considerations, including cybersecurity measures. No surprise there.