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Introducing: Stax Connect Plus, the program designed to provide partners with unparalleled access to a dedicated team of payment experts, offering a comprehensive range of resources and support to enhance their success. What is Payments Adoption and how does it relate to your SaaS business?
Built-in security Leading SaaS providers invest heavily in security infrastructurefar beyond what most businesses could implement on their own. SaaS companies that invest in onboarding, customer education, and proactive support tend to see higher engagement and lower churn. No more manual downloads or downtime.
Comparison of both platforms will use the following criteria: Features Ease of use Integrations Mobile app Customer support Pricing User reviews Scalability Security Learn More What is The Major Difference Between Quicken and QuickBooks? Learn More Stax offers the lowest cost of accepting credit cards among all merchant account providers.
It shows that you’re invested in solving real customer pain points and evolving your product to meet their needs. But how you earn depends on the providers pricing model and revenue-sharing structure. Can you set custom pricing for your merchants? Pro tip: Stax Connect ticks all these boxes and more. Learn more.
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?
Payment processors usually tack on additional fees on top of interchange to compensate for their services (based on their pricing model ). Payment processors set their own pricing models, which determine how interchange fees are passed on to merchants. Even for low-risk cards (e.g., per transaction. Contact us
In a recent interview with Austin Prey from PYMNTS , Adam Gray , Chief Transformation Officer at Stax, shared his perspective on the challenges and opportunities facing independent software vendors (ISVs) as they integrate payment solutions to meet the diverse needs of their merchant customers. Contact sales
If you wish to become a PayFac, note that it has high initial setup costs since you must invest in infrastructure, security, and compliance. Investing in a payment processor that supports a wide range of payment options helps you access a wider pool of clients with differing payment preferences.
Small businesses can go cashless without a hefty investment or lengthy setup using QR codes. Invest in NFC or RFID-enabled payment readers that support contactless credit cards, mobile wallets, and wearables. Invest in up-to-date, PCI-compliant solutions. Changes every transaction to specify the payment amount and details.
Some factors to consider when selecting a payment processor and payment gateway include: favorable pricing, integrations with your existing solutions, supported payment methods, and more. Go with a provider that offers favorable pricing and rates Another key factor to look into is pricing.
Revenue recognition for subscription businesses follows the principles outlined in ASC 606, involving steps such as identifying contracts, allocating transaction prices, and recognizing revenue over time. They must comply with all applicable laws and regulations surrounding pricing, cancellation policies, and refunds.
By investing in secure payment gateways, fraud detection systems, and robust transaction processing protocols, you can lower the risk of chargebacks and avoid unnecessary fees. This way, you can accept AmEx customers (who historically have higher ticket prices) without breaking the bank. How Do Credit Card Interchange Fees Work?
Some merchant service providers may ask you for a higher setup fee for your credit card readers while others may offer their equipment at a lower price. It also helps to understand the pricing structure of different payment processors. It also helps to understand the pricing structure of different payment processors.
But searching for a POS system for your retail business can feel like unraveling a complex web of features, pricing structures, and other considerations. Look for POS software that supports quick product scanning, instant price calculations, and minimal steps for payment completion. Doesnt require an upfront investment.
To help raise awareness and attract potential customers, you could offer demos and free trials, offer a lower-tier recruitment solution for free while still promoting your paid products, or adopt dynamic pricing strategies. Are you offering demos, trials, or dynamic pricing strategies for premium functionalities?
Cost and Resource Intensive: This model requires dedicated staff, ongoing training, and investment in support infrastructure. Additional service fees Many outsourcing providers offer tiered pricing structures that may not always be transparent. It is also important to consider the potential impact on user experience and satisfaction.
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. Avoid getting into contracts with hidden fees.
And if you eagerly adopt a new payment solution that your business doesnt need, then you may be stuck with a clunky checkout process and wasted investment funds. You should also monitor transaction data to evaluate the success of your investment in a new payment system. Your provider should help with this. Request a Quote
This could mean building an app that runs on Azure, integrating payments through Stax Connect , or creating an add-on for Oracles software suite. For example, Stax Connect not only supports a variety of payment methods including EMV, contactless, mobile wallets, etc., However, this can often get quite complicated.
Learn More Understanding the Quote to Cash Process Step Description Tools/Software Quoting Sales reps generate quotes, including pricing, scope, discounts, and add-ons. QTC software for accurate pricing Contracting Crafting proposals, negotiating terms, and finalizing contracts after quote acceptance. Risk of errors due to complexity.
Thankfully, with mobile payments from Stax , you can quickly accept and process payments from your customers. Learn all about mobile payments and why you may want to consider joining the Stax family to streamline payments and boost your small business’ productivity. Stax can save you from that headache with less room for error.
Owning a business can take quite the investment. Thankfully, we’re here to break down how you can save when investing in a credit card machine. Thankfully, your small business can find alternatives to renting or buying equipment at full price. Not to mention, some credit card machines can be shockingly expensive.
You should consider factors like integration capabilities, user experience, scalability, and pricing structures, to ensure a seamless and cost-effective payment process. You may be better off with a platform-agnostic payment processing software like Stax Payments, which works with a number of leading solutions.
Examples of popular SaaS apps include Shopify, an eCommerce platform, Dropbox, a cloud storage service, and Stax Bill, an automated payment processing system. How companies price and distribute their solutions affects everything from revenue streams and customer interaction to product development and delivery methods.
Investment in advanced cybersecurity solutions and regular assessments of these solutions are also highly recommended. You may be able to get better pricing, timely support, and enhanced services as a result. Thankfully, partnering with Stax can relieve you from these headaches as we handle risk management on your behalf.
Payment integrations are key, so set your sights on POS systems that can connect with leading credit card solutions like Stax. Clover also provides payment processing services, although its fees are slightly higher than processors like Stax. Make sure to choose solutions that can scale with you.
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. All this without having to invest time and resources in partnering with an acquiring bank or building an elaborate payment infrastructure.
Chargify is a powerful B2B SaaS subscription management software that enables you to employ complex pricing strategies (like prepaid usage or real-time multi-attribute billing), so you can bill exactly the way you want—without the time or financial investment of building out a custom solution.
Be proactive in discussing your processing rates and ask for competitive pricing, especially if you have a high transaction volume. CardX by Stax not only provides the technical infrastructure to implement surcharging but also ensures that businesses stay compliant with local and regional laws, as well as card network regulations.
This commonly takes the form of add-on services or multiple pricing plans that offer flexible features, like additional user seats or more storage space. Because horizontal SaaS products are based around more generic functions, they tend to offer less customization or charge higher prices for customizable features.
The rise in these fees can be attributed to the substantial investment required for the development and maintenance of secure payment processing infrastructure, protection against fraud, and the convenience offered to consumers. Service providers such as CardX by Stax help companies offset some of these fees in a compliant and seamless way.
By analyzing the SaaS Magic Number, SaaS companies can determine how well their revenue-driving investments (in sales, marketing, and customer retention) are translating into actual revenue growth. Focus on lowering marketing costs and optimization before investing more. This is where the SaaS Magic Number becomes particularly handy.
Digital currencies continue to experience extreme price volatility. You will need invoice management software like Stax Bill to be able to add payment links with integrated payment gateways to your email invoices. Stax can help you do just that by enabling you to support the right payment methods. Get in touch to learn more.
TL;DR Understanding your target market is the first step to growing your FSM software business FSM software providers need to invest in product development and innovation to stay up-to-date with industry trends, forecast market needs, and respond with innovative solutions. Stax Connect ticks all of these boxes.
Whether you run a brick and mortar retail business or a multi-location restaurant, you can always find an option for every price point. If you buy the costliest POS system in the market with the most dynamic features, but your team finds it hard to adopt, it won’t be worth the investment. Don’t just consider features and capabilities.
monthly, quarterly, annually) as well as handling numerous pricing models like tiered pricing, usage-based billing, legacy plans, and more. Customizable subscription plans and pricing models SaaS businesses need plenty of flexibility and space to switch gears and adjust subscriptions in response to data.
Businesses merge their customer offerings with banking, insurance, investment, and loan services via an Application Programming Interface (API) linked to their financial partners. Embedded Investing Embedded investing allows non-investment service businesses to provide investment and trading options on their platforms.
Choose the right pricing model A lack of transparency over how processing costs are calculated can cause merchants to spend more than is necessary on processing credit card transactions. Flat-rate pricing and tiered pricing can cause confusion due to a lack of clarity about interchange rates.
You should start by ensuring your pricing strategy is up to snuff. Optimize Your Pricing Strategy Pricing strategy refers to the approach that businesses use to set the prices of their products or services. If you set your prices too low, you might not make enough profit to cover its costs. Learn More 1.
TL;DR A cash discount program is a pricing strategy in which businesses offer customers a discount on the posted price of an item if they choose to pay by cash. In cash discounting, posted prices of all items are card prices (with payment processing fees already built into them).
Assess Your Business Needs Before you start investing in a self-checkout infrastructure, you need to understand what system is going to work best for your storefront and customer shopping habits. It requires a pretty sizable investment in infrastructure before you can benefit from lower labor costs.
Investing in user-friendly software that’s easy to use will maximize user efficiency and boost productivity for your team. You can ask for a demo before investing in the software to gauge its usability and ease of use. Transparency when it comes to pricing should be a non-negotiable.
And dont underestimate the power of your pricing pagemake sure it clearly outlines whats included in each tier so customers can see the value of upgrading. Personalized dashboards or pricing pages – Show a tailored upsell offer based on current usage and goals. Make it a point to spotlight their stories.
Its cloud-based architecture supports businesses without requiring large upfront investments in new technology. While Custom accounts provide unmatched control, they demand a higher investment in development and expertise to manage the complexities of a fully customized setup.
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