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How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

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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Top 10 Compliance Tips for Startups

Scytale

Have you ever felt overwhelmed by the compliance requirements of running a startup? As a startup founder trying to build your new organization from the ground up there’s a ton to do – And one of the commitments is keeping security compliance regulations and industry standards, and all that red tape! You’re not alone.

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Recurring Payments: Definition and Implementation Best Practices

Stax

That’s why businesses are constantly seeking innovative ways to streamline operations and enhance customer experiences. TL;DR Recurring payments refer to a financial arrangement where a customer authorizes a business to charge their account at regular intervals for products or services. faster than companies in the S&P 500.

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Payment Security: Everything You Need to Know About Secure Payments

Stax

Ultimately, PCI DSS compliance helps prevent fraudulent transactions, mitigates data breaches, cultivates customer trust and protects your business. Innovations in social engineering scams, sometimes conducted through social media, and phishing emails are designed to get the user to divulge sensitive information.

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What is a Surcharge Fee? How it Helps Consumers and Businesses

Stax

Credit card surcharging is subject to regulations and compliance requirements that vary by region and country. Credit card surcharge fees refer to the practice of adding an additional charge at checkout when a customer pays with a credit card. Learn More What is Credit Card Surcharging?

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What Are Some Common Mistakes to Avoid When Selecting a Billing Solution?

Blulogix

Mistake #5: Failing to Consider Regulatory Compliance Billing processes must adhere to tax regulations and reporting requirements. Failing to consider regulatory compliance can result in costly penalties and legal issues. How to Avoid It: Choose a billing solution like BluIQ that includes regulatory compliance features.

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Recurring Billing: Definition, How it Works, and Best Practices

Stax

As the business landscape continues its unstoppable evolution, the necessity for operational efficiency and innovation becomes even more pronounced. Legal and payment compliance Adhering to compliance standards, including those set by the Payment Card Industry Data Security Standard (PCI DSS), is essential.