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Recurring Payments: Definition and Implementation Best Practices

Stax

We can see this trend in action in the realm of payment processing with the advent of recurring payments, also known as automatic payments. Industry data shows that subscription-based businesses are growing 3.7x So, let’s dive into the realm of recurring payments and how they can benefit your business.

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How to Find the Best SaaS Billing Platform: A Complete Guide

Stax

Here’s an interesting stat: 70% of businesses consider subscription and membership models indispensable for future commercial growth and expansion. They must engineer a well-rounded solution that makes handling subscriptions a breeze (and yes, it is as hard as it sounds). However, only 10% of them currently employ these models.

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Demystifying Credit Card Interchange Fees: What You Need to Know [2024 Rates and Updates]

Stax

Set rate processing Subscription rate processing TL;DR Interchange fees are not collected by your payment processor or bank; they go directly to the card-issuing banks. One such strategy includes implementing credit card surcharging to offset the cost of interchange fees. Request Quote What Are Interchange Fees?

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Mobile Credit Card Processing Explained: What Business Owners Need to Know

Stax

Mobile credit card processing enables them to collect same-day payments on the spot, eliminating the hassle of invoicing or waiting for checks. This not only improves cash flow but also enhances customer satisfaction by offering convenient payment options. And with that, you’re up and running. This doesn’t have to be the case.

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Merchant Credit Card Fee Guide 2024: How Much Does It Cost to Process Credit Cards?

Stax

Payment processors who’ve popularized this model include PayPal and Square. Instead, it’s based on a subscription structure where merchants pay an annual or monthly fee plus the specific interchange rates at the time of the transaction. This makes it a popular choice for small businesses looking to set up credit card payments.

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8 Best Chargebee Alternatives and Competitors (And How They’re Different)

FastSpring

Chargebee is a robust subscription management platform. However, there are certain aspects of collecting recurring payments that you would still be responsible for when using Chargebee, such as: Connecting to payment gateways manually. Zoho Subscriptions. Remitting taxes at the end of the year.

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Xero vs QuickBooks Online: Which Accounting Software is Best for Your Business?

Stax

The former will deal with purchase orders and ringing up sales at the register, while the latter will need capabilities related to invoicing and managing client records. If you’re self-employed and don’t need to send more than 20 invoices a year, $9 per month is a great value. Both solutions have this feature.