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The most common challenges associated with vertical SaaS are competing for adoption against popular legacy or traditional SaaS solutions, a smaller lead pool that may soon exhaust, and managing the expectations of consumer-like SMB customers. What is Vertical SaaS? While enterprise software grew at 11.1% in 2023 with a projected CAGR of 9.6%
Reporting and analytics – Provide insights into customer behavior, sales trends, and payment type preferences. Features like same-day or next-day deposits can make a major difference when it comes to managing payroll, inventory, and day-to-day expenses. Note: some models are far more transparent than others, so choose wisely!
Adam Gray , Chief Transformation Officer at Stax, recently sat down with Hal Levey of PYMNTS to discuss emerging trends in payment processing and vertical integration. As the industry advances, Stax is positioned at the forefront, paving the way for a smarter, more efficient future in payment processing.
The main difference between Quicken and QuickBooks is that Quicken is primarily a personal finance management software while QuickBooks is a full-featured small business accounting software. Users can view banking information, track monthly bills, track investments, manage credit card accounts, and much more.
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. If youre using a payments platform like Stax, you can watch these metrics there – particularly if you integrate it with your customer relationship management platform.
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. Payouts and reporting: Ensuring funds reach the merchants bank account and offering tools to track and manage transactions. Pro tip: Stax Connect ticks all these boxes and more.
Whether you’re running a small eCommerce shop or managing a high-risk industry venture, understanding merchant underwriting can help you navigate the approval process and maintain a strong partnership with your payment service provider. Managing false positives: Another challenge? Contact us today. Request a Quote
Also, look for a system with automated chargeback management and dispute resolution to minimize revenue loss. Average Order Value (AOV) – Identify customer preferences and trends to improve upsell strategies. You can schedule monthly security audits and payment reports to identify fraud trends and optimize performance.
As anISV, Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses. Companies can integrate specialized features, such as: CRM and ERP systems to streamline customer and business management. Payment gateways for seamless online transactions. Whats the value of an API?
It adapts as you grow, offering the tools you need to manage payments, support new business models, and ensure secure, efficient payment processing. Healthcare practices expanding locations or services From dental clinics to virtual care, providers need to securely manage patient data while processing payments across multiple channels.
High Level of Control: Companies manage all aspects of customer interactions, ensuring a seamless and branded support experience. Strategic Resource Allocation: Internal teams handle high-priority or complex issues, while routine queries are managed by external providers.
Work with a Payment Processor that Offers Credit Card Chargeback Protection Some payment processing platforms (including Stax) offer features that help businesses avoid chargebacks. It’s your job to effectively manage expectations and ensure that customers get what they paid for.
All of these steps are made easy by a surcharge-compliant credit card processor like CardX by Stax. Reporting and analytics: Look for providers that offer robust reporting, analytics, and integration tools for valuable insights into transaction volumes, revenue trends, and customer behaviors.
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. Initiating, receiving, and tracking payments at scale will become a breeze—freeing up time for sales and client management. This is because custom code requires extensive management.
Theyre more than just business toolsthey help you manage inventory, track sales, streamline customer interactions, and even get valuable business insights. The business can ring up orders, process sales, generate invoices, manage inventory, monitor buying trends, and collect marketing data. Today, POS systems have evolved.
The payment provider is responsible for hosting and managing the gateway. These systems offer easy integration with eCommerce platforms and inventory management systems. The provider should have subscription management tools that allow for upgrades, downgrades, and cancellations.
TL;DR An ISO (Independent Sales Organization) is a third-party company authorized to manage merchant accounts and provide payment processing services on behalf of acquiring banks. Ask about support hours, service-level agreements (SLAs), and whether you’ll get a dedicated account manager or have to go through a call center.
If you use multi-channel payments, then integrated payment solutions also help you manage your transactions from different avenues. Stax is one example of a provider that implements subscription pricing. At Stax, we offer an array of credit card payment processing services to help you take your business to the next level.
For example, Stax Pay charges a fixed monthly membership fee which might not be the best option for very small businesses with low transaction volumes, but could be extraordinarily cost-effective for businesses that process more than $5000 per month. It also lets you accept and process in-person, online, mobile, and recurring payments.
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
However, setting up and managing a payment system can be complex and overwhelming. In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. Let’s dive deeper into risk management practices for PayFacs.
For consumers, digital receipts and transaction histories are easily accessible online, reducing clutter and simplifying budget management. Solutions providers like Stax integrate with a range of solutions to enable merchants to go mobile. Cryptocurrency is a decentralized currency that is not managed by any financial institution.
We’re seeing a similar trend in the legal industry, where law firms rely on case management systems to run their businesses. With management systems’ continual growth and improvement, it’s no wonder software sales are at an all-time high. This trusty software manages the busy work often assigned to multiple employees.
SMB owners wear many hats, managing everything from staff to sales. Adding to the already tough job of managing a small or medium business is the complex task of understanding how payment processing works, including managing the fees, equipment, accounts payable and more. Learn More What is a Payment Management System?
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. Stax Connect is an all-in-one payment ecosystem with integrated software solutions to help your SaaS company increase revenue, all through one API.
As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed.
We caught up with payment experts from Forrester and Stax to help you navigate these evolving times and achieve success with embedded payments. Here’s what Lily has to say about this trend. “We’ve Fred Nelson, VP of Sales Enablement at Stax provides a succinct definition of embedded payments. What are embedded payments?
This is where field service management (FSM) come in. Field service management software is a system that helps a company monitor and coordinate their employees’ activities off the company’s premises. We’ve compiled these success tips to help your company manage your field services through FSM software.
But managing subscriptions effectively and freeing up time and resources for expansion is no picnic. A robust subscription management platform is essential to reducing admin and ensuring positive customer experiences that keep churn rates low.
This also means an increasing demand for easier to manage, more unified one-stop-shop experiences for business ownersand a growing opportunity for SaaS companies to further diversify their offerings. This includes underwriting, risk management, and settlement experiences, which have been traditionally managed by third parties.
This global reach and expertise position Worldpay to effectively help larger businesses manage their payment processing. Additionally, the Global Payments Report has been a valuable resource in analyzing market trends and consumer choices, further solidifying Worldpay’s position in the industry.
In this guide, we’re going to cover what companies need to consider when choosing a SaaS billing platform—and how Stax Connect makes this process simple. TL;DR A SaaS billing platform is a digital solution that allows SaaS companies to process payments and manage the overall transaction lifecycle. What is a SaaS Billing Platform?
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?
By using a charity payment solutions provider offering real-time analytics, users can track donation trends, manage your CRM, and make smarter, data-driven decisions to boost donations and improve the charity’s reputation. At Stax Connect, we work with a subscription-based mode l with a 0% markup on direct-cost interchange.
Unlike payments facilitated by card networks like Visa or Mastercard, ACH payments are managed by a body called the National Automated Clearing House Association (NACHA). If you’re running a high-risk business, make sure you have a PayFac with strong security features and a fraud management system.
Because the transaction takes place through a payment gateway that utilizes data encryption or tokenization to secure sensitive information during transmission, accepting payments using a virtual terminal from Stax (which is PCI compliant) is secure. What Are the Benefits of Using Stax Contactless Solutions?
Compatibility and integration Your new payment provider must integrate seamlessly with the hardware and business management software tools you currently use to run your business. You may be better off with a platform-agnostic payment processing software like Stax Payments, which works with a number of leading solutions.
For example, if you have a project management app, then you can add payment features that allow people to use your software to take payments from their clients. How a PayFac like Stax can help A business can choose to open a merchant account on their own but the process can be laborious and time-consuming.
We can see this trend in action in the realm of payment processing with the advent of recurring payments, also known as automatic payments. Challenges in Recurring Payments One of the significant challenges in recurring payments is managing customer churn. Industry data shows that subscription-based businesses are growing 3.7x
In fact, last year, we discussed the top seven payment trends to keep an eye on, all of which are examples of EFT payments and remain trending now. For businesses, EFT payments streamline the accounts receivable and payable processes, making it easier to manage transactions and reconcile accounts. Are EFT Payments Safe?
DSO is influenced by a range of factors, including a company’s credit policy, customer purchasing patterns, and invoice management. Implementing stricter credit policies, automated invoicing, and better customer relationship management lead to more efficient account receivables management and improved DSO.
With the right recurring and subscription billing solution, you can manage payments more effectively, resulting in dependable revenue and a smoother experience for customers. According to a report published in 2023 by the subscription management platform Zuora , the subscription economy grew by 12% in 2022 compared to 10.6%
They cover the costs of managing the network, ensuring security, and facilitating the transfer of funds between banks. Risk management is an ongoing concern for networks setting interchange rates. Stay informed through industry publications that discuss changes in interchange rates, regulations, and trends affecting payment processing.
TL;DR PSPs help businesses accept credit cards, digital wallets, ACH transfers, recurring payments, and other types of mobile payments, while also providing POS systems and the integrated software required for managing business financial operations. Robust tools for dispute and chargeback management are also desirable.
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