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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 you’re looking to integrate a complete payments ecosystem within your vertical SaaS platforms—quickly and inexpensively—look no further than Stax Connect. What is Vertical SaaS?
Even if you believe your technology is easy to set up and use, it may not be for the average person. Your software has bugs Product bugs and software issues are bound to happen when youre using any kind of technology platform. Contact sales 2. Bad software user experience User experience is everything when it comes to SaaS platforms.
Key steps include application review, risk assessment, credit checks, and compliance verification. This process involves reviewing the businesss structure, financial health, industry type, and compliance with regulations. Keep in mind: Modern underwriting increasingly leverages technology to streamline processes and improve accuracy.
Card networks must maintain them properly and pay for fraud prevention tech (data encryption, tokenization, real-time tracking, etc.). To improve the payment experience for consumers, card networks must innovate and incorporate the latest technologies. Swipe fees fund these initiatives and cover the maintenance costs. per transaction.
Seamless integration with your existing tech stack: you must ensure that the providers payment gateway will easily integrate with your existing eCommerce CMS (Content Management System), website CMS, or SaaS platform. Your testing should check for security compliance, technical performance, and mobile responsiveness.
Always review pricing models, monthly fees, per-transaction markups, hidden fees, and contract terms before making a decision. The credit card payment processor often provides the equipment and technology that allow businesses to process such payments. 3.5%) due to online fraud concerns. eCommerce rates are higher (1.8-3.5%)
Payment processor – Handles the technical aspects of the payment. Integration capabilities Since you probably have other tools in your tech stack, you dont want to keep switching tabs or windows to reconcile invoices or transfer data. On top of that, regularly review your systems transaction logs and reconcile transactions.
A payment processing system is a technology that facilitates the secure transfer of funds from a customer to a merchant. Modern digital payment processing systems Modern digital payment processing systems leverage cloud-based technology, APIs, and digital wallets to quickly and securely process transactions.
As anISV, Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses. Companies that adopt ISV solutions see higher customer retention and satisfaction due to smoother interactions and more personalized service. What is an API? Whats the value of an API?
This can result in: Slower development times due to trial-and-error implementation. Mobile-specific UI/UX challenges Even when the technical backend is solid, mobile-specific integration issues can derail the user experience. Switching service providers as your business scales can present frustrating technical challenges.
Expertise Required: Companies need in-house knowledge of payments technology, compliance, and troubleshooting. How to mitigate this risk: Before committing to a provider, carefully review contract terms to ensure flexibility. Stax is an example of a payments processor provider offering personalized customer support to SaaS companies.
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. Request a Quote
Assessment fees Assessment fees are charges imposed by the card networks (Visa, Mastercard, American Express, Discover) to support their operations, including marketing, network maintenance, and the development of new technologies. Take the time to review your monthly statements. To that end, here are our top picks.
They typically assist with technology needs and customer service as well, acting as an intermediary to the card associations and banks. Step 4: The credit card processing companies send the payment to the business’s bank through a certified merchant services provider such as Stax. With Stax, your payment processing statement is simple.
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. You will also need to manually handle ACH returns or rejections due to issues like incorrect account information, closed accounts, or insufficient funds. Contact us to learn more.
TL;DR Online payments rely on API or hosted gateways with encryption and fraud detection, while in-store transactions require POS hardware with EMV chip technology and NFC capabilities. For enhanced security, it uses EMV (Europay, Mastercard, and Visa) chip technology and contactless payments, like Apple Pay and Google Pay.
When choosing an ISO, look beyond pricing—evaluate their technology stack, customer support, contract terms, industry expertise, and reputation. This allows them to offer true value in places like technologies, rates, and customer support, where banks are unable to. Look for reviews, case studies, or testimonials from real customers.
Involve your technical team. Their expertise is invaluable for assessing the technical compatibility of the payment processor with your systems, especially if custom integrations or API usage is required. Check for Tech Stack Compatibility Compatibility is key when integrating a payment processor into your business systems.
Theyre comprehensive business management solutions that enhance efficiency, improve customer experience, and help businesses harness the power of technology for success. Also, check for user online reviews to gauge customer satisfaction when it comes to the vendors reliability, uptime, and overall operational efficiency.
In tap-to-pay transactions, EMV combines with another technology called NFC (near-field communications) that makes it possible for the card terminal to read credit card information from contactless cards. Stax is one example of a provider that implements subscription pricing. Reach out to Stax for a consultation today.
Cryptocurrencies Cryptocurrencies like Bitcoin, Ethereum, and Tether use decentralized blockchain technology and cryptography to ensure fast and secure transactions. You must review the payment methods available on the providers platform and ensure all the preferred payment methods of your target customers are included.
Review factors like fees, contract terms, supported payment methods, and business fit—especially if you’re high-volume, high-risk, or multi-location. Step 2: Create a shortlist of reputable providers Search for well-reviewed credit card processing companies with a strong track record in your industry. and online payments.
Stax, Payment Depot, and CardX are three of the very best providers in the industry. These processes are facilitated by a network of financial institutions and technologies that work together to ensure the seamless and secure transfer of data and funds. You are likely better off opting for a third-party platform.
billion lost to fraud in 2024 alone Mobile and contactless payments Mobile and contactless payments are powered by NFC (Near-field communication) technology. This explains why cryptocurrency payments are still not widely utilized by the general populace and are mostly limited to tech-savvy customers.
The main differences between Mastercard and Visa cards are not due to the card companies themselves, but the financial institutions that issue the cards and set the interest rates and fees. As commerce evolves, Visa and Mastercard are doubling down on technology to make payments smarter and more seamless. There are currently 3.9
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
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?
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.
Thorough duediligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough duediligence, technology, and adherence to regulatory guidelines in your risk management strategy. The duediligence doesn’t stop at onboarding.
Partner programs typically include technical integration, co-selling opportunities, and revenue-sharing models. They often focus on vertical markets or specific use cases, whereas general software developers may work on a broader range of technical projects, including websites, custom apps, or internal tools. What is an ISV Partner?
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. Through OptBlue, your payment technology provider will determine how much you pay for AmEx and bundle it in with the ability to accept more popular card types.
KYC’s three main components are the customer identification program (CIP), which was imposed by the USA Patriot Act in 2011; customer duediligence (CDD); and regular monitoring of the customer’s account and activities, which is also called enhanced duediligence (EDD). In the U.S.,
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. Stax can save you from that headache with less room for error.
Best practices for ensuring AML compliance as a PayFac include continuously updating your AML policies, utilizing advanced technologies for monitoring, periodic internal reviews and audits, and engaging with AML experts and consultants. Reviewing and continuously updating your AML policies is therefore necessary.
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. Popular payment gateways include Authorize.net, Stax, Stripe, Adyen, and Square. What Exactly Is a Payment Gateway?
An ISV partner is a software vendor that partners with an ISV and provides additional services or technology. It expands the core functionality of a software solution through access to complementary technologies and resources, fueling product enhancements and differentiation.
Make sure you consult key stakeholders, read independent customer reviews, and try out the payments solution before committing to an integrated payments solution. However, it can be harder for nonprofits to understand due to the level of detail from combining interchange rates and card network assessments. Just how it should be.
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?
Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer duediligence, and adherence to card regulations. Most PayFacs have technology in place to prevent these breaches.
Thanks to the advancements in payment technology, the answers are not difficult to find. TL;DR Mobile payments have evolved significantly over the past 20 years, with current tech enabling payments through watches or phones. Due to its simple yet effective way of making mobile payments , this method is one that is rapidly growing.
That’s where Stax comes in. Logs should be retained for a minimum period and should be regularly reviewed to identify and respond to suspicious activities or potential breaches. Stax is a Level 1 PCI Service Provider. Level 1 is the highest level of PCI compliance, and protecting sensitive data is a top priority at Stax.
This is especially common for high-risk accounts, as more vetting and duediligence are typically required. High-Risk Merchant Accounts Process payments for high-risk industries Online gambling, pharmaceuticals, insurance, subscription businesses Specialized approval process, secure transactions Higher fees, additional duediligence.
Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. EMV chip card technology had a good two decades or so, beginning in the mid-’90s. NFC technology is in the midst of an evolution. Contactless payments became a must-have during COVID.
The first step is to find a partner that can provide the right payment technologies and services to your customers. 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. How exactly can you get your users started with payments?
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