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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? So, how do you bridge this gap?
In this article, we’ll break down what a SaaS platform is, highlight real-world examples, and explore key strategies to succeed in the fast-moving software-as-a-service industry. Pricing is a living strategytest, iterate, and align it with your customer’s success.
In an interview with Karen Webster , CEO of PYMNTS , Paulette Rowe , CEO of Stax, pulled back the curtain on the critical strategies and innovations driving the next wave of payment partnerships. Another crucial area where Stax provides expertise is go-to-market and pricingstrategies.
But how you earn depends on the providers pricing model and revenue-sharing structure. Can you set custom pricing for your merchants? The right partner will give you the flexibility to build a monetization strategy that aligns with your business goals. Pro tip: Stax Connect ticks all these boxes and more. Learn more.
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
Increase customer acquisition: To do this , focus on enhancing your lead generation and conversion strategies to bring in more customers. Upselling is when you offer customers a higher-priced product or service, while cross-selling is for an additional product or service. Here are some of the key ways you can scale your MRR.
Three-tiered pricing (or tiered pricing) is a popular strategy several payment processing companies use—not to be confused with the tiered pricing models (volume-based pricing, usage-based pricing, feature-based pricing, subscription-based pricing, etc.)
While interchange fees are non-negotiable, knowing the factors that govern them and how they are calculated, can help you employ suitable strategies to offset these costs. Payment processors usually tack on additional fees on top of interchange to compensate for their services (based on their pricing model ). per transaction.
Fee structures matter; understand the differences between interchange plus, flat rate, tiered, and subscription pricing to find the most transparent and cost-effective option. But the right solution offers far more than transaction supportit can elevate your business strategy. Talk to sales What Are Credit Card Merchant Services?
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?
While interchange fees are unavoidable, there are strategies to help minimize their impact, including choosing a cost-effective payment processor, implementing surcharging, and more. One such strategy includes implementing credit card surcharging to offset the cost of interchange fees. Request Quote What Are Interchange Fees?
Transaction fees and pricing models All payment service providers charge a fee for their services. And different providers adopt different pricing models, so you want to find a provider that matches your budget. Also, some providers lock premium features in high-end pricing tiers. Qualified payments have the lowest rates.
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.
There are various lead generation strategies, such as free trials, gated content (like whitepapers locked behind a form), or events such as webinars. Are you offering demos, trials, or dynamic pricingstrategies for premium functionalities? As a SaaS company, the best lead generation asset is your product itself.
In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy.
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. Ray Lau , VP of Marketing at Stax remarked, “Compliance in this space is so complicated.
To choose the right solution, you need to look at various factors when evaluating potential providers, including supported payment types, transaction fees and pricing structures, payout speed, and PCI DSS compliance. Whats your model, your strategy? Stax, for example, supports multiple modes of payment. Who are your customers?
The phrase “dynamic pricing” often sparks heated debates in eCommerce and retail, and it’s not hard to see why. If you’ve ever booked a hotel, ordered an Uber, or shopped on Amazon, you’ve experienced the effects of dynamic pricing in real-time. Prices may shift down or up at a moment’s notice.
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.
Having a strategy to monetize payments gives SaaS companies an additional revenue stream while enhancing the customer experience and reducing customer churn. You also should evaluate your pricingstrategies, some of which include value-based pricing and cost-plus pricing. Enter payment monetization.
In short, theyre the cornerstone of an integrated commerce strategy. But searching for a POS system for your retail business can feel like unraveling a complex web of features, pricing structures, and other considerations. Seasonal businesses might benefit from systems with flexible subscription plans or per-transaction pricing.
We caught up with payment experts from Forrester and Stax to help you navigate these evolving times and achieve success with embedded payments. They’re willing to take things slower, mature their business strategies, and focus on reducing debt overhangs. Watch the discussion below or check out some of its highlights in this article.
These programs enable SaaS or cloud solutions companies to expand their reach, enhance their offerings, and accelerate their market penetration or go-to-market strategy. Examine their program pricing and revenue-sharing models to gauge cost implications on your business.
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. With proper integration, they can minimize billing errors, enable adaptive pricingstrategies, and provide real-time insights to enhance overall efficiency. Real-time insights.
Data analytics: the provider must offer extensive data analysis tools and features to help you track transaction data in real-time, and gain valuable insights that can help you improve customer experience, marketing strategies, and other business offerings. Your provider should help with this. Request a Quote
By addressing the most common reasons for chargebackssuch as unclear pricing, delays, or unresponsive supportmerchants can improve the customer experience and reduce disputes. High chargeback ratios can still harm a merchants reputation with payment processors, making prevention a critical strategy.
This article explores the legal landscape surrounding surcharges, shedding light on the intricacies of state and federal laws and strategies for small businesses to manage processing costs. Best practices include ensuring the limit is reasonable for your price point and clearly listed at checkout. Get in touch!
Here’s a step-by-step strategy you can use to boost sales for your EHR tools: TL;DR Electronic health records, or EHR, is a software used to maintain patient records across multiple facilities. However, the right strategy and tips can help expand an EHR software’s user base. EHR software can be priced in two ways.
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.
It makes it easier for merchants to make the switch to accepting non-cash payment methods like credit cards or contactless payments, which are often seen as more convenient for customers, but can come at a steep price. How Does Surcharging Compare to Other Fee Management Strategies?
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.
Look for transparency in pricing, no hidden fees, and options that suit your specific business needs. Make it a point to choose the right pricing models. Prefer interchange-plus pricing over tiered models for transparency and control over costs; avoid leasing terminals by purchasing affordable ones outright.
This is good news because it means you won’t have to inflate your base prices to cover payment processing fees. It helps businesses maintain their pricing structure while offsetting credit card payment processing expenses. This practice promotes fair and stable pricing and guarantees you retain all your revenue.
Thankfully, your small business can find alternatives to renting or buying equipment at full price. Lease-to-own agreements differ in price, depending on the type of terminal you purchase (wireless are more expensive than older models), the length, and if your business requires a separate receipt printer. Contact us to learn more.
When you’re offering a product or service that renews at regular intervals, having a billing strategy that aligns with this unique offering is vital. Subscription billing not only includes the recurring billing process but also more flexible payment options such as free trial periods, renewals, pricing models, upgrades, downgrades, etc.
This variety means there are strategies you can use to lower your overall costs associated with credit card transaction processing. Be proactive in discussing your processing rates and ask for competitive pricing, especially if you have a high transaction volume. It’s more expensive, at least up front, to the business than surcharging.
In this guide, we compare six Recurly competitors and alternatives according to several categories: Subscription management and recurring billing Checkout Global payment processing Reporting and analytics Pricing Customer reviews We’ll start with a deep dive into FastSpring — our end-to-end payment solution (i.e., Automatic or manual renewal.
Small businesses can thrive on SBS with these 8 tips: (1) Lay the groundwork with past data, (2) enhance digital presence, (3) improve the in-store experience, (4) run marketing campaigns, (5) promote special offers, (6) engage the community, (7) collect feedback, and (8) develop post-event strategies. Small Business Saturday , a.k.a.
While you can’t avoid the rate hikes, there are strategies and resources available to help merchants mitigate the impact. As Senators Marshall and Durbin point out in their press release, merchants typically try to pass at least some of their costs onto the consumer by raising prices. Improve your customer retention strategies.
This is where Stax Connect comes in. With Stax Connect, you can enable sofware users to accept everything from credit and debit card payments to ACH and eChecks. With Stax Connect, you can enable sofware users to accept everything from credit and debit card payments to ACH and eChecks. Q: How much does legal software cost?
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.
Chargify is a powerful B2B SaaS subscription management software that enables you to employ complex pricingstrategies (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.
Look for a payment integration platform that offers multi-currency support and automatically converts currencies to display prices in the customers local currency. This is where Stax Connect comes in. This calls for a payment gateway that makes cross-border sales seamless.
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