Remove Data Security Remove Software & Service Providers Remove Transactions
article thumbnail

ISV vs PayFac: The Similarities and Differences Between Independent Software Vendors and Payment Facilitators

Stax

FIS Global reports that in Norway, Sweden, and other Scandinavian countries, more than 90% of transactions processed at point-of-sale (POS) in 2023 were cashless. Further, Statista projects that the value of global digital transactions will exceed $11 trillion in 2024.

article thumbnail

What Is an ACH Payment Facilitator?

Stax

Clearly, ACH transactions are one of the fastest-growing modes of electronic payments in the world. TL;DR A payment facilitator (PayFac) is essentially a SaaS vendor or software provider that enables its users (businesses) to accept online payments from their customers through the platform itself.

ACH
article thumbnail

How to Choose the Best Bookkeeping App for Your Business

Stax

Keeping a meticulous record of all your financial transactions gives you a good picture of the state and health of your small business and makes life easier come tax time. However, recording your daily financial transactions manually can be a very tedious and mistake-prone process. Let’s dive in.