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Join the Payments-Led Growth Movement Sign up to keep up-to-date with the latest trends in payments, vertical SaaS, and technology from industry experts. Functionality Vertical solutions are built with industry-specific workflows and compliance needs in mind. What is Vertical SaaS?
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.
Seamless integration with your existing tech stack: you must ensure that the providers payment gateway will easily integrate with your existing eCommerce CMS (Content Management System), website CMS, or SaaS platform. Your testing should check for security compliance, technical performance, and mobile responsiveness.
Payment processor – Handles the technical aspects of the payment. 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.
Always review pricing models, monthly fees, per-transaction markups, hidden fees, and contract terms before making a decision. The credit card payment processor often provides the equipment and technology that allow businesses to process such payments. 3.5%) due to online fraud concerns. eCommerce rates are higher (1.8-3.5%)
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. Faster resolution speed reduces revenue loss due to fraudulent claims.
As anISV, Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses. Companies that adopt ISV solutions see higher customer retention and satisfaction due to smoother interactions and more personalized service. How does an ISV integration work? What is an API?
In addition to the usual concerns around security and compliance, there’s also the issue of user experience. This can result in: Slower development times due to trial-and-error implementation. Switching service providers as your business scales can present frustrating technical challenges.
An outsourced integrated payments support team could also assist business software users with their unique issues or questions about security and compliance. Outsourcing payment support can save costs, provide 24/7 assistance, and ensure compliance expertise.
Assessment fees Assessment fees are charges imposed by the card networks (Visa, Mastercard, American Express, Discover) to support their operations, including marketing, network maintenance, and the development of new technologies. Take the time to review your monthly statements. CardX is specifically designed for this.
Fees include (but aren’t limited to) transaction fees, interchange rates, PCI compliance, and more. They typically assist with technology needs and customer service as well, acting as an intermediary to the card associations and banks. With Stax, your payment processing statement is simple. Step 3: The card is authorized.
Join the Payments-Led Growth Movement Sign up to keep up-to-date with the latest trends in payments, vertical SaaS, and technology from industry experts. You will also need to manually handle ACH returns or rejections due to issues like incorrect account information, closed accounts, or insufficient funds. Contact us to learn more.
TL;DR Online payments rely on API or hosted gateways with encryption and fraud detection, while in-store transactions require POS hardware with EMV chip technology and NFC capabilities. For enhanced security, it uses EMV (Europay, Mastercard, and Visa) chip technology and contactless payments, like Apple Pay and Google Pay.
Becoming a registered ISO requires sponsorship from a bank and registration with card networks, plus meeting rigorous compliance, financial, and operational standards. When choosing an ISO, look beyond pricing—evaluate their technology stack, customer support, contract terms, industry expertise, and reputation.
Key features to look for in a POS system include sales processing, inventory management, customer relationship management (CRM), reporting, multi-location & omnichannel selling, and security & compliance. To ensure efficient, cost-effective payment processing you should partner with a trusted payment processor like Stax.
Keep an eye out for hidden fees that may not be immediately apparent, like setup fees, monthly maintenance fees, PCI compliance fees, or chargeback fees. Involve your technical team. Check for Tech Stack Compatibility Compatibility is key when integrating a payment processor into your business systems.
Review factors like fees, contract terms, supported payment methods, and business fit—especially if you’re high-volume, high-risk, or multi-location. Step 2: Create a shortlist of reputable providers Search for well-reviewed credit card processing companies with a strong track record in your industry. and online payments.
In tap-to-pay transactions, EMV combines with another technology called NFC (near-field communications) that makes it possible for the card terminal to read credit card information from contactless cards. Stax is one example of a provider that implements subscription pricing. That adds an extra layer of security.
Cryptocurrencies Cryptocurrencies like Bitcoin, Ethereum, and Tether use decentralized blockchain technology and cryptography to ensure fast and secure transactions. You must review the payment methods available on the providers platform and ensure all the preferred payment methods of your target customers are included.
Stax, Payment Depot, and CardX are three of the very best providers in the industry. These processes are facilitated by a network of financial institutions and technologies that work together to ensure the seamless and secure transfer of data and funds. You are likely better off opting for a third-party platform.
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
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.
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. Riverside Pricing Riverside doesn’t share their pricing publically, and there looks to be a lot of inconsistency when reviewing their complaints registered through the Better Business Bureau.
To the incredible Stax community: allow us to take a moment to recognize a milestone that we are extraordinarily proud of—our 10th anniversary. Sprinkled throughout this article are quotes from some of Stax’s long-standing employees, because who better to tell the company’s story than the people who help make it happen?
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.
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. The duediligence doesn’t stop at onboarding.
To ensure the interchange fees you pay are reasonable and competitive, it’s essential to regularly review and negotiate your fee structure with your payment processor. Through OptBlue, your payment technology provider will determine how much you pay for AmEx and bundle it in with the ability to accept more popular card types.
This is why PCI DSS compliance is critical. Compliance with PCI Data Security Standard regulations prevents shortcomings and vulnerabilities in payment processing, thereby reducing the risk of fraud, identity theft, and cyberattacks. Stax is 100% PCI compliant, which makes it the perfect solution for all your payment processing needs.
KYC’s three main components are the customer identification program (CIP), which was imposed by the USA Patriot Act in 2011; customer duediligence (CDD); and regular monitoring of the customer’s account and activities, which is also called enhanced duediligence (EDD). In the U.S.,
An ISV partner is a software vendor that partners with an ISV and provides additional services or technology. 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.
Benefits of using a payment gateway include a simplified purchasing experience for customers, increased operational efficiency, and PCI compliance. Popular payment gateways include Authorize.net, Stax, Stripe, Adyen, and Square. What Exactly Is a Payment Gateway? Some of them also offer a merchant account (besides the payment gateway).
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.
In this guide we will discuss the following: What is Payment Tokenization How Payment Tokenization Works Payment Tokenization vs. Encryption SaaS Payment Tokenization Requirements Benefits of Payment Tokenization SaaS Payment Vulnerabilities Using Stax Connect and Payment Tokenization Lets get started. What Is Payment Tokenization?
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.
Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer duediligence, and adherence to card regulations. However, several complex types of risks come along with this. Let’s get started.
By leveraging cutting-edge technology and a deep understanding of the payments landscape, they ensure that clients can navigate the complexities of global payments with ease. Stax and Worldpay: A Powerful Partnership Stax is one of the largest Independent Sales Organizations (ISOs) partnered with Worldpay.
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. What do reviews on 3rd-party sites have to say about this?
Examples of popular SaaS apps include Shopify, an eCommerce platform, Dropbox, a cloud storage service, and Stax Bill, an automated payment processing system. ISVs vs SaaS: An Overview Technically speaking SaaS companies are also ISVs because they develop software. Consider Stax’s partner program.
Understanding the market, providing advanced features, and collaborating with other ventures in the healthcare technology market help boost EHR software sales. One such in-demand feature in healthcare technology is artificial intelligence (AI). However, the right strategy and tips can help expand an EHR software’s user base.
This is especially common for high-risk accounts, as more vetting and duediligence are typically required. Online Merchant Accounts Process payments for online businesses eCommerce websites, marketplaces, mobile apps Secure payments, fraud prevention, payment gateway integration PCI DSS compliance, multi-currency, recurring billing.
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.
ACH transactions are one of the fastest-growing modes of electronic payments in the world due to the convenience they offer, low processing costs, and enhanced security. Provides compliance and security advantages ACH payments are one of the most secure payment options your customers can have.
Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. EMV chip card technology had a good two decades or so, beginning in the mid-’90s. NFC technology is in the midst of an evolution. Contactless payments became a must-have during COVID.
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. Optimize transactions for lower rates Review your card acceptance policies.
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