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But launching your eCommerce store is just half the equationaccepting payments efficiently and effectively is a whole different ball game. On the surface, it seems effortless, with customers only taking a few seconds to initiate and complete payments. The eCommerce paymentsolution infrastructure involves several key players.
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Software tailored to your industry? Unlike horizontal SaaS solutions that serve a broad range of businesses, vertical SaaS solutions are designed with deep knowledge of specific markets—making them more intuitive, efficient, and impactful. these software companies are able to develop deep expertise in those niches.
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The desire for frictionless payments skyrocketed contactless transactions to 8.1 The system generates a one-time encrypted code for each transaction, preventing fraudsters from stealing payment data. This is why 90% of shoppers still prefer contactless payments post-pandemic. billion during the COVID-19 pandemic.
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And yet, accepting non-cash forms of payments is more or less required to operate a modern business, at least in the U.S. Credit, debit, and digital payments have far and away become the most popular payment method. Cash has dropped to less than 20% of all US payments in recent years.
There is no such thing as a “free” payment processor, but there is a solution that can help to alleviate the financial burden: surcharging. Unfortunately, they’re unavoidable, and most companies can’t afford to refuse credit card payments. Unfortunately, these fees are unavoidable.
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Stax Connect’s recent webinar, featuring CardX Founder Jonathan Razi , offered ISVs insight into this intricate challenge, providing expert guidance on surcharging compliance and a glimpse into the future of payment processing. Razi emphasized, “You need to have signage at the point of entry and at the point of sale.”
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