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It can also make it easier to manage compliance, automate reporting, and scale operations. Pro tip: Stax Connect ticks all these boxes and more. From seamless API integrations to flexible revenue-sharing models, Stax Connect empowers ISVs to launch, scale, and monetize embedded payments. Learn more.
TL;DR PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust. What is PCI Compliance? That’s where Stax comes in. Why Is PCI Compliance So Important? PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust.
The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. Key steps include application review, risk assessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?
There are many processors out there that claim to save you money, and in this post we’ll take a look at two of them: Riverside Payments and Stax. This makes it hard to verify any of their claims and leaves us to deduce information solely through their complaints. Read on to discover how these solutions stack up against each other.
Fast deposits, flexible checkout options, and transaction insights can improve cash flow, raise conversions, and inform smarter decisions. These insights can inform smarter decisions around staffing, promotions, and inventory. With built-in reporting, the best merchant services platforms go beyond processing payments.
While credit card transactions might seem instantaneous, multiple players work behind the scenes to transfer information and funds, ensuring the payment is processed smoothly. Look out for hidden fees like PCI compliance, early termination, and chargeback fees. Compare the total cost and not just the processor’s advertised rates.
It validates the customers payment information and pays the funds to the acquiring bank. Theyre easy to integrate and set up, with the host taking care of data security measures, including PCI compliance and fraud protection. On top of PCI compliance, you might have to pay extra for SSL (Secure Sockets Layer) certification.
In this article, we’ll explore the significance of billing platforms in contemporary business, delve into the features that set Stax Bill apart, and guide you through the process of selecting the right billing solution for your unique needs. said Suneera Madhani, founder and CEO of Stax. “The
Some nationwide rules that apply to surcharging are: the surcharge rate is capped at 4% (3% for Visa) of the total transaction, businesses mustn’t use surcharging to earn a profit, surcharging doesn’t apply to debit cards, customers need to be informed of the program, and the surcharge has to be listed clearly in the receipt.
As more consumers gravitate online, they risk putting more sensitive authentication data and financial information on the internet. This is why PCI DSS compliance is critical. In this article, we’ll discuss why your business needs to ensure PCI compliance and what the 12 PCI DSS v4.0 security requirements are.
EFT is the umbrella term for all electronic transactions that transfer funds digitally between bank accounts using only bank account information. Security and compliance ACH provides extra protection against fraud for high-value transactions because they pass through the ACH automated clearing house and NACHA regulations.
Research shows that 55% of customers will abandon their cart if they have to re-enter checkout information like credit card details, negatively affecting your business conversion rate. Click to Pay completely removes the need to enter credit card information during online purchases, making it more convenient and faster than manual card entry.
To choose the right payment processing solution for your business, you need to evaluate your business needs, evaluate security and compliance standards, and evaluate different payment processors based on pricing, features, customer support, and scalability. This is where Stax comes in.
Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. for transactions also requires this compliance.
Stay informed about any updates or changes in interchange fee schedules to ensure you’re paying the most optimal rates for your business. Some others, including Stax, offer subscription-style processing that gives you access to the lowest rates of interchange. Stax’ subscription pricing starts at just $99 per month.
These longer-term subscriptions provide businesses with a stable source of unearned revenue that helps them to make more informed financial decisions. Non-compliance with accounting standards such as IFRS or GAAP can result in significant financial penalties—not to mention a loss of trust with customers and stakeholders.
To keep the system of securing financial information and cardholder information safe, a multi-pronged approach to payment processing data security is imperative. Encryption SaaS Payment Tokenization Requirements Benefits of Payment Tokenization SaaS Payment Vulnerabilities Using Stax Connect and Payment Tokenization Lets get started.
To ensure that an ISV partner program is right for you, consider their program structure and offerings, integration capabilities, support and resources, security and compliance, and costs and financial incentives. Confirm adherence to industry standards and regulations, such as GDPR or HIPAA , ensuring compliance with legal requirements.
In June 2019, Fidelity National Information Services ( FIS ) acquired Worldpay in a massive $35 billion deal, making it the largest financial technology merger at the time. Stax and Worldpay: A Powerful Partnership Stax is one of the largest Independent Sales Organizations (ISOs) partnered with Worldpay.
TL;DR A payment gateway is a solution that securely reads and transfers a customer’s payment information to a merchant’s bank account—both for online and in-person transactions. Benefits of using a payment gateway include a simplified purchasing experience for customers, increased operational efficiency, and PCI compliance.
TL;DR Key features your charity payment solution should cover include PCI compliance and security, streamlined integrations, a great user experience, reporting and analytics, and customization and flexibility. At Stax Connect, we work with a subscription-based mode l with a 0% markup on direct-cost interchange.
PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks. Let’s dive deeper into risk management practices for PayFacs.
Security and compliance: Make sure they meet the latest security standards and regulations to protect you and your customers’ sensitive data. As you’re handling cardholder data, your provider will need to ensure PCI compliance to minimize the risk of fraud and data breaches. Stax has options, no matter what you need.
Whichever route you take, remember to run A/B testing so you can make data-informed decisions in order to fully engage your SaaS operations. Stax Connect is an all-in-one payment ecosystem with integrated software solutions to help your SaaS company increase revenue, all through one API. Having the right tech partners also helps.
The merchant sends this payment information to the acquiring bank, i.e., the bank where the merchant wants to receive the payment. The bank forwards this information to the relevant credit card company. This information transfer is facilitated through a payment processor.
Stax, for example, charges 0% markups on top of interchange, giving you the lowest percentage per transaction rate. For example, Stax charges a flat monthly membership in exchange for a 0% markup rate, a transaction cost of just a few cents, and no ancillary fees.
Non-compliance can lead to hefty penalties and even suspension of their merchant accounts. Merchants should be aware of Visa’s surcharging rules as non-compliance can lead to fines ranging from $50,000 to $1 million. All this can be challenging, so it’s best to partner with a surcharging expert like CardX by Stax.
As the world increasingly moves online, it is essential to safeguard the information being stored and transferred over networks. Moreover, companies need to follow data privacy and compliance requirements to stay in business. The good news is that with a solution like Stax Connect, this need not be difficult or complicated.
Data protection and security are crucial not just for safeguarding customer information, but for protecting business owners as well. A secure payment system pertains to payment processing solutions and information technology that help protect people’s financial and personal data from fraud and unauthorized activities.
ACH payments use the same information as a paper check , but with additional benefits which have been diverting users away from traditional check writing. Setting up ACH payments is easy with a great merchant account service like Stax. Learn More ACH Payment Versus Check Payments: What’s The Difference?
There are many benefits of recurring payments, such as providing a seamless and automated billing process and allowing customers to place orders easily on a recurring basis without having to update their payment information. How Do Recurring Payments Work? Plus, there’s the fact that customers appreciate the convenience of recurring payments.
Taking precautions to implement security measures such as secure firewalls and cybersecurity training helps to protect cardholder data and other sensitive information. It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place.
Check your state laws for up-to-date information. Non-compliance with these regulations can lead to enforcement actions from federal regulatory agencies. Surcharge disclosure requirements Legal requirements mandate businesses to inform customers of the surcharge before payment. Keep 100% of your revenue in full compliance.
Some well-known examples are Adobe, a design and creator platform, Autodesk, a leading construction management system; and Meditech, a healthcare information systems solution. Examples of popular SaaS apps include Shopify, an eCommerce platform, Dropbox, a cloud storage service, and Stax Bill, an automated payment processing system.
The payment gateway acts as a virtual bridge, securely transmitting payment information between the merchant, customer, and acquiring bank. Most simply, a payment gateway is the interface a company uses to collect payment information and transmit that information to the financial institutions and processors involved in the transaction.
Look for a PMS that can serve as an all-in-one platform for payment processing, integrates with other technologies, offers appropriate POS equipment, and prioritizes security compliance. Your PMS is a central hub to manage payment requests and store banking information (like your routing and bank account number for ACH payments ).
Advanced encryption techniques are used to protect sensitive data during transmission, ensuring that personal and financial information remains confidential. Compliance requires implementing robust security measures, such as encryption and authentication protocols, regularly auditing processes, and staying updated on regulatory changes.
The great thing about an ACH PayFac solution like Stax Connect is that SaaS companies or ISVs can embed ACH payments in their software easily and own (also, white label) the payment experience. Provides compliance and security advantages ACH payments are one of the most secure payment options your customers can have.
Integrating the EHR software with payment processing tools like Stax Connect also helps create an all-in-one platform that simplifies workflow management at hospitals and other medical practices. Using this information in your product development will help you create software that addresses customer requirements and has a high demand.
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. They must also ensure that sub-merchants are compliant with the regulations set by card companies, e.g. PCI compliance.
Is your company taking advantage of CFO tools like automated invoicing, database management, and automatic tax-compliance updates? By keeping track of all information about potential customers as well as current customers, these CFO tools have the potential to improve your business’s relationships and catalyze growth. If not, read on.
Credit card surcharging is subject to regulations and compliance requirements that vary by region and country. Service providers such as CardX by Stax help companies offset some of these fees in a compliant and seamless way. Learn More What is Credit Card Surcharging? What is a Credit Card Surcharge Fee?
Understanding interchange fees enables merchants to effectively manage processing costs, negotiate better rates, make informed decisions about card acceptance, and ensure compliance with payment industry standards. Surcharging ensures cost recovery but requires compliance with regulations and customer education for long-term success.
If you’re not sure where to start, keep reading to find out the benefits of implementing surcharging, how to ensure legal compliance, and how you can use technology for smooth sailing in the surcharging landscape. If you’re working with a payment processing provider like Stax , they can take care of much of the following.
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