Stax by Fattmerchant, which claims to be the industry’s “only” complete “all-in-one” solution for managing “everything” in the payments ecosystem, has announced the addition of credit card surcharging to its “feature-rich” technology.
As mentioned in a released shared with CI:
“With prices of processing fees continuing to rise, it is more critical than ever for companies to consider additional ways to cut down on the costs associated with the growing need to accept every payment type.”
The credit card surcharging landscape might be challenging to navigate for software and brick-and-mortar companies, according to Suneera Madhani, founder and CEO at Stax.
Suneera added that their surcharge capability aims to offer a more transparent, compliant, and “easily enabled” solution as businesses “look for answers to the increased processing fees brought on by major credit card companies.”
Stax’s surcharge capabilities aim to offer merchants with the ability “to process credit cards at a reduced cost to themselves,” the announcement explained. Credit card processing fees are “passed directly to the customer at the time of payment, allowing merchants greater flexibility in how customers can pay based on their preferences,” the release noted.
Stax’s platform has been designed to simplify the complete surcharging experience while enabling merchants to have easy access to the information they require “to maintain compliance and increase business performance.” This feature reportedly includes automated credit card type detection, data and reporting dashboard, transparency for clients, “100% compliance,” dedicated support from the Stax team of “experts,” and “top-level security.”
As mentioned in the update, Stax Connect is a “fully managed” payments facilitation ecosystem that “allows independent software vendors (ISVs) to monetize and own the payments experience while transforming their platform’s infrastructure capabilities.”
Stax’s team of integration specialists are able to “seamlessly” enable surcharging capabilities through the Stax Connect API, which “gives the ISV’s users the ability to eliminate the need to pay fees from processing credit card payments and increase revenue by cutting costs.”
Steven Madow, Head of Partner Product at Stax, stated:
“Our APIs have been designed with ease of implementation in mind to handle card detection and surcharge calculation all while keeping you and your merchants out of PCI compliance scope.”
Stax’s small-to-medium-sized businesses or SMBs who currently use Stax Pay will be able to “implement surcharging to expand the forms of payment they accept by reducing credit card processing fees,” the announcement confirmed.
They may increase profit by lowering overall costs with the use of the Stax API. The new capability “adds to the feature-rich technology, including invoicing, swiped payments, mobile payments, keyed payments, and more, all displayed on one easy-to-navigate dashboard.”
As noted in the release, Stax claims to be one of America’s “fastest-growing” Fintechs that aims to “empower more than 22,000 small businesses, large businesses, and software platforms through the industry’s only all-in-one payments API.”
Stax’ platform offers businesses and SaaS platforms the ability “to manage their payment ecosystem, analyze data, and simplify their customer experience through fully integrated solutions.”
With access to everything they require to transact in a seamless manner, the “one-stop tool” enables firms to “move faster, think smarter, and make better business decisions through the power of payments.”
Stax has reportedly powered over $10 billion in transactions and “expanded globally to international markets outside of the US.”