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How to Maintain Anti-Money Laundering Compliance as a PayFac

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The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. In this article, we’ll discuss everything you need to know about ensuring AML compliance as a payment facilitator (or PayFac). Non-compliance can have major implications.

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ISVs vs SaaS: What’s the Difference?

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Examples of popular SaaS apps include Shopify, an eCommerce platform, Dropbox, a cloud storage service, and Stax Bill, an automated payment processing system. Consider Stax’s partner program. ISVs that integrate their solutions with Stax Connect gain access to the platform’s global reach, co-selling opportunities, and support.

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Everything You Need to Know About Secure Payment Processing Systems

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Compliance with these standards ensures that merchants and payment processors implement robust security measures to safeguard financial data. Compliance with PCI DSS is mandatory for businesses that handle credit card transactions. We use a host of security measures to prevent fraud and ensure PCI compliance across all of our products.

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Mobile Credit Card Processing Explained: What Business Owners Need to Know

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Whether it’s a photographer booking a photoshoot, a consultant delivering a presentation, or a hairstylist providing services at a client’s home, the ability to accept credit card payments on a mobile device streamlines the transaction process and fosters professionalism.

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Visa Interchange Rates 2024: What You Need to Know

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Compliance and Regulation: Changes in regulations or compliance requirements can also influence interchange rates. Consider consulting with financial advisors, payment processing experts, or industry specialists who can offer personalized guidance on optimizing payment strategies. in-person, online).

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

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Cost recovery, industry standards, regulatory compliance, and consumer sensitivity are key factors to consider when calculating surcharges. Companies, particularly those in the healthcare, transportation, and food industries, levy surcharges to meet these compliance standards. Regulatory Compliance. Minimum usage surcharge.

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

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Secure Transactions: Online terminals incorporate security protocols like SSL encryption, tokenization, and Payment Card Industry Data Security Standards (PCI DSS) compliance. Service providers Service-oriented businesses, be they spas or consultancy agencies, find a valuable solution in online terminals.