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Software tailored to your industry? TL;DR Vertical software solutions are those that are hyperfocused on addressing the pain points or specific needs of small and medium businesses (SMBs) in certain industries or niches. Vertical SaaS is industry-specific software designed to meet the unique needs of a particular niche or market.
Encryption – Encryption converts plain text into coded characters that can only be decoded by authorized users. Tokenization – Tokenization replaces customer data with a unique identifier, referred to as a token. Payment processors that comply with this regulation protect businesses from data breaches and credit card fraud.
For companies looking to scale, Independent Software Vendors (ISV) are a crucial tool that provides specialized software solutions that integrate seamlessly with existing business tools. As anISV, Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses.
Mobile payments will typically involve one of several technologies, including Near Field Communication (NFC), QR codes, or SMS messaging. Mobile payment systems refer to the technologies and infrastructure that enable businesses to accept payments via mobile devices—whether in-store, online, or in-app.
Stax Stripe Square PayPal Banks Contract Required No No No No Yes Early Termination Fees No No No No Yes Card Present Processing Pricing $99/month + 8¢ per transaction + interchange 2.9% + 30¢ per transaction (includes interchange) 2.6% + 10¢ per transaction (includes interchange) 2.7% With Stax, your payment processing statement is simple.
Complete the bank’s vetting process Once a bank agrees to sponsor you, they’ll conduct a thorough review, which may include: Auditing your business plan and operations Reviewing compliance and risk management procedures Conducting interviews or site visits Verifying your ability to support merchants and manage payment risk 4.
Thats why weve compiled this guide to help you understand how POS systems work, the key features to look for, and how to choose and implement the right software for your retail store. TL;DR A point-of-sale (POS) system is a combination of software and hardware used by businesses to facilitate in-store sales.
Credit card processing refers to the series of steps involved in facilitating transactions made using credit cards. Both dipping and tapping require an EMV chip card that generates a unique one-time code for every transaction. Learn More What is Credit Card Payment Processing? That adds an extra layer of security. Flat rate pricing.
There are many processors out there that claim to save you money, and in this post we’ll take a look at two of them: Riverside Payments and Stax. Riverside Pricing Riverside doesn’t share their pricing publically, and there looks to be a lot of inconsistency when reviewing their complaints registered through the Better Business Bureau.
TL;DR Unearned Revenue refers to funds received for goods or services that haven’t been fully delivered. This is important for subscription businesses due to recurring advance payments. Common subscription types include software as a service (SaaS) subscriptions, streaming services, and subscription boxes of physical goods.
To ensure the interchange fees you pay are reasonable and competitive, it’s essential to regularly review and negotiate your fee structure with your payment processor. To access full Discover interchange rates , you need to use a verification code provided by your acquirer. Regulated: 0.05% + $0.21 Regulated: 0.05% + $0.21
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. When the code is scanned by a merchant, the payment is completed.
When looking for a payment gateway, make sure it easily integrates with your payment processor, offers transparent pricing, allows you to white-label the payment experience, and has great customer reviews. It’s also the software in your POS system or card readers that processes the customer’s payment data in a brick-and-mortar setting.
Field service management software is a system that helps a company monitor and coordinate their employees’ activities off the company’s premises. The software allows managers to view and modify work schedules, orders, inventory, invoices, customer account records, and other records in the database.
Software-as-a-service (SaaS) businesses need to constantly evolve their offerings to stay fresh and relevant. How do you add payment processing capabilities to your software? 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.
Offering payment processing services is a move that makes sense for a lot of SaaS companies, particularly if your software helps your customers run their business. 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.
A merchant account refers to a business bank account that allows businesses to accept electronic payments for goods and services. Once funds are verified, the card issuing bank will issue an approval code for the acquiring bank to transfer funds to the business’s merchant account. Request Quote What Is a Merchant Account?
If the details are verified and there are enough funds in the customer’s account, the issuing bank will send an authorization code to the card company through the payment processor. This authorization code is forwarded to the card company and then to the acquiring bank. Easy switch between POS and mobile payments using the Stax app.
Level Up Your Terminal with Stax Card Readers What is a Credit Card Terminal? Virtual terminals Virtual terminals are software-based interfaces that allow merchants to process payments via a computer or tablet. RELATED: Will a Stax Wireless Card Reader Improve Your Business?
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?
Due to its simple yet effective way of making mobile payments , this method is one that is rapidly growing. There are many options available that plug into existing smartphones and tablets , such as the Swipe Simple B250 Reader available from Stax , to solve this problem effectively. That’s where you can turn to mobile payment systems.
Business to business payments, therefore, refer to the payment processes and activities between two businesses. Cross-border B2B payments can be complicated due to currency conversions, regulatory compliance, and varying banking systems. Many CRMs or accounting software like Salesforce and Netsuite can integrate with payment gateways.
The significance of EMV cards EMV cards use a microchip that generates a code for each transaction, which is transmitted instead of the card number as the transaction processes. Many businesses and respected institutions have immediately been taken down for days, weeks or longer due to cyber attacks designed to exploit their vulnerabilities.
Software as a Service (SaaS) has made business software more accessible by offering cloud-based, on-demand access to a range of solutions, from project management and collaboration to sales and marketing. Horizontal SaaS refers to general-purpose software solutions that are applicable across industries and attract a diverse user base.
Assess which products had the highest sales and cross-reference this with your current inventory level to optimize your stock purchases. It could be a physical suggestion box or a digital kiosk where they can leave reviews in exchange for incentives. Specify the customer’s name and reference their specific purchase.
TLDR Chip and PIN vs chip and signature refers to the way the cardholder provides authorization for the purchase. Whether signature or PIN authorized, EMV chip cards are the new global standard for debit and credit cards due to the increased security of EMV technology over the classic magstripe.
If you’re working with a payment processing provider like Stax , they can take care of much of the following. Even if they offer a surcharging service, a review is wise to ensure you’re getting the best solution. If you have to swap, consider a provider like Stax that helps you with the setup and offers flexible solutions.
This business model has now been adapted very well in the internet age, especially in the SaaS (Software-as-a-Service) and eCommerce industries. The customer subscription model grew in popularity partly due to the convenience that it offers to customers. Recurring billing is a perfect fit for subscription businesses.
In this post, we’re going to review ACH and wire transfers, look at their similarities, and then see how they compare against each other. ACH is a digital extension of the paper check and is often referred to as auto-pay, direct debit, and direct deposit. A typical ACH transaction is like a machine with multiple moving cogs.
Payment Application Data Security Standard (PA-DSS): PA-DSS applies to software vendors and developers of payment applications. T he data points most merchants can cut down to are: Payment information such as credit card numbers, expiration dates, and security codes (CVV/CVC) for processing the payment.
The commerce landscape—whether it’s retail, services or software—is moving faster than ever. TL;DR Recurring payments refer to a financial arrangement where a customer authorizes a business to charge their account at regular intervals for products or services. Industry data shows that subscription-based businesses are growing 3.7x
Every POS software provider will boast diverse offerings. Systems that your POS system can integrate with include: Accounting software – Many POS systems today come with basic bookkeeping features. Cost and Budget Considerations Your budget and the cost of the POS software is one of the biggest factors to consider.
Mobile credit card processing refers to the capability of accepting credit card payments using a mobile device equipped with a card reader and specialized software. Choose the Right Hardware and Software Mobile payment processing is entirely dependent on hardware and software, so selecting the right tech stack is crucial for success.
Learn More Understanding Credit Card Processing Fees Credit card processing refers to the transactional processes involved in securing a credit card transfer between a buyer and a seller. For example, the interchange fees for online transactions may be higher due to the higher risk of credit card fraud.
To make that easier for you, some of the most popular brands currently in use are: Clover (by First Data): Clover is a popular brand known for its sleek and user-friendly payment terminals, which integrate with a range of business management tools and software. Square Terminals, while popular, do only work with Square systems.
There’s been a lot of discussion in recent months about the apparent phase-out of QuickBooks Desktop software. Will I still be able to use my existing QuickBooks Desktop software? QuickBooks Desktop is something of a linchpin in the accounting software world, with the first version of the program launching in 1998.
TL;DR Dynamic pricing refers to prices that fluctuate based on factors like demand, supply, customer behavior, and seasonality. Dynamic pricing systems refer to pricing models where the price of goods and services fluctuate based on a range of factors. This is where Stax comes in. Request Quote What is Dynamic Pricing?
Basics of Credit Card Fees Credit card fees refer to a range of charges that are imposed by credit card issuers on cardholders and merchants for completing credit card payments, either online or in person. Rewards cards cost merchants more to process due to the complexity of the program and administering the perks on offer.
Implementing surcharging involves analyzing pricing strategy impact, communicating policies effectively to customers, and reviewing technical considerations, including cybersecurity measures. Follow these tips to stick to federal regulations: Refer to federal regulations when drafting internal policies and procedures. Security audits.
Setting up recurring payments Select a Recurring Billing Software Platform: The solution you choose must support recurring payments and integrate seamlessly with your existing operations. This may come with the billing software platform , or a gateway provider may need to be sought separately.
In this blog post, we’ll review both ACH payments and wire transfers individually, and then see how they stack up against each other to help you choose the suitable payment option for your business. Some people refer to ACH payments as direct debit, direct deposit, or auto-transfer.
It works by sending a one-time code that must be entered during checkout to complete the purchase. More generically, it may be referred to as 2.0 This could be a one-time password, a PIN code, or even facial recognition or other biometric verification. 3D Secure Authentication is known by a few names. those mentioned above.
Optimize Your Pricing Strategy Pricing strategy refers to the approach that businesses use to set the prices of their products or services. While not all businesses can surcharge due to legal restrictions or customer preferences, for some, it can be an effective way to offset processing costs and keep more money in their pockets.
A merchant cash advance (MCA), also referred to as a merchant loan or business cash advance, is a short-term business financing option that allows small business owners to receive cash advances based on future credit or debit card sales. The percentage is referred to as the “retrieval rate” or “holdback rate”.
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