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In the vast world of business, there are a plethora of specialized positions that play a vital role in how businesses operate, but remain largely unknown. One such role in the merchant services industry — that is both crucial and often misunderstood — is a merchant services agent or payment processing agent.
Nexio, a leading provider of end-to-end payment and commerce solutions for over 5,000 merchants, announced that Roy Banks has been chosen to lead the company as its new Chief Executive Officer. Banks has served on the Board of Directors of Nexio since 2018.
It can be difficult to understand exactly what this solution is and why so many software companies are adopting integrated payment models. In this blog post we’ll break down everything you need to know about integrated payments so that you can make an informed decision on whether they are right for your business.
This informative guide takes an in-depth look at effective tips for mitigating the risks associated with accepting debit and credit payments. Our aim is to help organizations optimize their approach to transactions in order to maximize security levels while minimizing financial loss.
To optimize payment operations, manage costs effectively, and maximize your bottom line, it’s crucial to understand the cost of payment processing. One important concept in understanding how fees are charged by card issuers and financial institutions is basis points.
Payment processing plays a vital role in today’s digital economy. As a merchant in the modern marketplace, it’s essential to understand the different financial services you have access to. Being informed about banks, payment providers and card networks is vital to make sure your business runs smoothly and efficiently.
Small business owners to high-level executives know the importance of having a reliable payment solution that accepts a variety of payment methods. Credit cards and digital wallets have become the norm, but there is another method that should not be overlooked: ACH payments.
For ambitious business owners and executives, building a comprehensive payment strategy is essential to maintaining steady growth and achieving success. However, having an effective payments program isn’t solely about what measures you take today, it is just as much about preparing for the future.
In the business world, there’s nothing more certain than change. Today’s payment strategies must reflect and plan for these transformations. Whether you lead a small business or helm a global enterprise, it is essential to prepare your finances and operations for potential disruption by building redundancies into your payment strategy.
With the accelerating speed of today’s digital transformation, achieving an optimally efficient payment strategy is essential for every business. The key to unlocking this efficiency lies in leadership that embraces a future-conscious approach and understands that optimization plays an integral part in the success of their overall strategy.
In an increasingly complex world of commerce, having a cohesive payment strategy can be the difference between success and failure. But creating a sustainable strategy isn’t just about finding the right payment methods; it’s also maintaining control over your entire payment ecosystem.
The financial technology industry is quickly evolving, making it increasingly important that businesses stay on top of new trends and advances in order to remain competitive. In this blog post, we will discuss the often under appreciated component of a future-conscious payment strategy: adaptability.
Ensuring your business is prepared for the future should always be a top priority. This means having multiple layers of defense in place to protect against economic disruption. One critical — but often overlooked — component of any organization’s overall payment strategy is decline recovery.
In the face of a quickly evolving landscape of cyber threats and data breaches, everyone from small business owners to high-level executives need to be proactive about payment security. It’s not just about compliance; it’s about proactively fighting fraud, safeguarding your business and customers, and fortifying your credibility.
The modern era of e-commerce has provided merchants with the opportunity to reach customers all over the world. Yet, as with every golden opportunity, there are also new, emerging challenges. Developing a comprehensive payment strategy has never been more crucial.
In today’s rapidly changing business landscape, payment processing has become a crucial factor in shaping the success of a business. A well-planned payment strategy can be the key to creating a smooth purchasing experience for customers, while also boosting a company’s bottom line.
It’s no secret that having a reliable, integrated payments strategy is essential to any SaaS business. Registering as a payment facilitator (PayFac) or independent sales organization (ISO) have become popular options for SaaS companies looking for a comprehensive payment strategy.
In this blog post, we’ll take a deep dive into the economic factors that must be considered when registering as a PayFac, including upfront investment costs and long-term financial implications. We’ll also discuss alternative strategies that can yield similar economic benefits.
Whether you are a small business owner or a high-level executive, understanding what the 3D Secure (3DS) protocol does is fundamental to your success. In this article, we will take you through these essential elements: who should use 3DS, what it does, where it applies, when and why you need it, and how best to implement 3DS protocols for maximum protection.
From Integration to Expansion: The Benefits of Registering as a Full-Service Provider for SaaS Embedded Payments
As the payment processing landscape continues to evolve, software companies are increasingly looking to incorporate payment solutions into their offerings. One potential route for software companies is registering as a Full Service Provider (FSP).
For software companies looking to take their payments infrastructure to the next level, becoming a payment facilitator (PayFac) is an attractive option, but it doesn’t come without its challenges. It’s important for SaaS executives to fully understand what they’re getting into before proceeding down this path.
For many businesses, accepting credit cards is essential for providing a seamless customer experience. However, credit card processing fees can cut into a merchant’s bottom line. One way to offset these costs is through credit card surcharging.
The payment processing landscape continues to evolve, and software companies are constantly looking for new ways to enhance their customers’ experiences and streamline transactions. One option gaining traction is registering as a retail independent sales organization (ISO).
From small operations to multinational corporations, payment reconciliation is an incredibly important step in the overall payment processing landscape. In this blog post we’ll provide you with an overview of what payment reconciliation entails so that you can ensure a successful process for each transaction moving forward.
The payment processing landscape is constantly evolving, prompting software companies to seek innovative ways to stay ahead of the curve and optimize their revenue streams. One such opportunity lies in registering as a wholesale ISO (Independent Sales Organization).
Embedded payments have become the norm as customers demand seamless transactions within software. However, deciding which embedded payment model to choose can either limit or enhance your growth. This is where registering as an Independent Sales Organization (ISO) comes into play.
Direct sales organizations often face unique payment challenges when it comes to accepting and processing customer payments. It can be difficult to find a reliable and revenue-effective way of collecting customer payments, especially when customers are spread across multiple countries.
The world of global commerce is growing at an astounding rate, with new markets opening up around the world. Having the option to offer products and services in multiple countries is an essential part of scaling up operations.
In today’s competitive business landscape, software companies are constantly seeking new ways to generate new lines of revenue and increase company value. One such opportunity that has gained traction in recent years is the integration of embedded payment services within software applications.
Without visibility into all aspects of your financial processing activities, you risk losing out on valuable insights and opportunities for growth. In this article we will discuss how to harness the power of data and analytics to drive revenue, optimize your payment services, and make informed strategic decisions.
When it comes to expanding your business on a global scale, one of the most important considerations is your payment strategy. You may have been using a multi-currency processing (MCP) system to handle payments from different countries. However, as your business continues to expand, you may find it more beneficial to switch to a like-for-like settlement system.
Payment processing declines are a frustrating and costly aspect of running a business, particularly if you operate both domestically and internationally. Minimizing the impact of declines on your business requires understanding why declines happen, interpreting decline reason codes, and implementing strategies and tools to prevent them.
Control and portability are often overlooked but extremely vital components of an integrated payments strategy. In this article, we’ll explore how to maintain flexibility, adapt to change, and scale your payment services for long-term success.
Navigating the complexities of international payment processing is a challenge faced by merchants worldwide. Common obstacles include currency conversion fees, fluctuating exchange rates, and extended settlement periods. Setting up a successful like-for-like settlement system can be one of the most powerful tools to combat these challenges.
Expanding your business across borders can provide countless opportunities for growth. However, international transactions come with their own set of challenges, especially when it comes to foreign exchange (FX) and cross-border fees.
Too many companies overlook the importance speed to market and customer onboarding play in their payments strategy. In this blog post we will provide you with actionable tips on leveraging faster onboarding times, accelerated go-to-market speeds, lower transaction costs, and better customer experience outcomes.
The Power of International Merchant of Records and Payment Facilitators for Streamlined Global Payment Solutions
There is no doubt that navigating foreign markets can be complicated. Payment solutions need to be tailored for customers around the world and accommodate local regulations, taxes, and more. The good news is that there are solutions available to help ease these issues.
Visa CE 3.0 rules will be effective from April 15, 2023. It can be challenging to understand and prepare for these changes, but merchants can take advantage of this opportunity to improve operational efficiency, lower chargeback rates, and increase revenue.
Revenue and profitability, coupled with operational efficiency, are the cornerstones of a successful payment strategy. The additional key to success is conversion and lifetime value (LTV). With these elements working together, you can create a seamless payment solution that keeps customers coming back again and again.
With so much of day-to-day operations conducted digitally, payment fraud and chargebacks are a real threat to businesses that accept payments from customers. 3D Secure (3DS) technologies offer a powerful tool for protecting against fraudsters attempting to exploit vulnerable elements of the online checkout process.
The most successful businesses are built on two pillars: great products and sound operations. Yet while creating groundbreaking products and services is acknowledged as crucial to success, operational efficiency and streamlining processes often fall by the wayside in lieu of short-term gains. Integrated payments is no exception.
By leveraging a multi-currency processing (MCP) solution, any business has the chance to open up new markets and tap into greater customer engagement around the world. In this post, we’ll explain why MCP is an invaluable tool for any company that wishes to maximize revenue and expand their global reach.
Businesses face a constant battle against fraudsters who are looking to steal payment information and run up charges on both customer and business accounts. In this blog post, we will discuss the various types of fraud that businesses encounter, as well as ways to prevent fraud from happening in the first place.
For a SaaS organization, the ability to effectively accept payments is essential in order to optimize customer experience and drive revenue growth. And yet without an integrated payment strategy that improves profitability, even the most well-developed payment systems can prove ineffective.
For software company executives, maximizing revenue, profitability, and enterprise value is of utmost importance. A key factor in achieving these goals is having a solid integrated payment strategy in place — one that allows for control, ownership, and leverage over customer relationships and payment service contracts.
There are several critical factors that software executives need to consider when developing a go-to-market strategy for their integrated payment processing services.With a well-executed go-to-market strategy, you can differentiate your company from the competition and drive long-term growth and success.
Choosing the right payment processor for your direct selling organization is an important decision that will affect everything from customer convenience to budgeting processes. With so many options on the market, it can be challenging to determine which payment provider best fits your needs.
Many software companies struggle and fail to recognize the complexity of integrating and selling payment processing services, resulting in wasted money and time, poor conversion rates, and low profitability in payments revenue. They get discouraged and begin to question if it’s all even worth the time and resources expended. The missing piece that’s often overlooked is the go-to-market strategy.
Our comprehensive guide on chargeback cycles assists you in making informed decisions regarding the prevention and reduction of chargebacks. We cover the different steps that take place during a chargeback, such as when money changes hands, actions necessary from your end, and what is happening with cardholders at each stage.
No one likes to face a sudden and unexpected setback, but it provides an opportunity to learn, grow, and be better prepared for the future. In the wake of the SVB crisis, we’d like to explore eight foundational components of a payments strategy that will help you weather any storm.
The financial industry has notoriously low customer service ratings and net promoter scores (NPS). Choosing the wrong payment partner could negatively impact your company’s reputation which could inhibit adoption and increase churn rates of your customers. You should ask your payment provider these five questions to ensure their customer service team is providing the best experience for your customers.
Integrated payments have become increasingly important for software companies that want to provide a seamless user experience, generate additional revenue streams, and maximize their enterprise value. We’ve put together a list of 10 things software companies need to consider to successfully in implement integrated payments.
Integrating payments into your software can feel like taking a treacherous voyage, with no assurance you’ll reach a safe harbor. There’s an overwhelming amount of technologies and options to consider, and it’s difficult to know where to begin. Allow us to become your trusty navigator.
The SaaS community is still reeling after the sudden closure of Silicon Valley Bank. Software and tech companies are now scrambling to reevaluate their business model and cash flow strategies in order for them to survive these unforeseen circumstances. Rather than being an optional extra, integrated payments are now a necessity for software companies looking to succeed in this new financial landscape.
As a business owner, you know it’s important to protect yourself from any potential losses that could occur due to fraud or chargebacks. A merchant account reserve is a great tool because it safeguards both you and your processor from losses, empowering you to confidently conduct transactions.
If you’re a SaaS executive considering integrating payments into your software platform, there are usually two ways to go about it: partner with an integrated payments company or register as a payment facilitator (PayFac). It’s important for any business leader to understand both approaches and what each process entails.
The world of payments is a complex, ever-evolving landscape with a wide array of opportunities for security risks for consumers, businesses, and financial institutions. What’s the best way to combat these security risks? The answer is easy: tokenization.
Payment processing is a crucial component of any business’s operations. It is the backbone of modern commerce and is what enables businesses to function. It’s somewhat ironic that such a critical aspect of daily business is considered an enigma by the business community at large.
As a business accepting credit card payments, understanding the PCI compliance requirements and implementing best practices is vital in order to protect your customers’ sensitive information and maintain industry standards. By abiding by these regulations, merchants are able to provide their customers with security and peace of mind when making transactions through their store.
When it comes to adding payment functionality to your software, it can be easy to get overwhelmed by the different options available. Payment processors, payment gateways, merchant accounts… it can all start to feel like a foreign language. Let’s start with the basics.
The underwriting process seems daunting for many businesses, but it doesn’t have to be. In this post, we’ll break down everything you need to know about applying for a merchant account — from what underwriters look for, to common mistakes that can trip up your application. By the time you’re finished reading, you’ll be ready to take on the underwriting process with confidence.
Chargebacks are an unavoidable part of doing business, but they don’t have to be a source of frustration. They happen for a variety of reasons, ranging from fraud prevention to simply buyer’s remorse. Regardless of the cause, businesses must take steps to prevent them and respond appropriately if one does occur.
OREM, UTAH — Nexio, a fintech organization, today announced it is consolidating brands with its parent company, Complete Merchant Solutions (CMS), in order to create a more cohesive payments experience and expand its presence in the industry. The two companies have...
Stripe’s increased transaction rate goes into effect this week. You can be certain other payment processors are watching closely to determine if they too will increase their rates.
Paying your distributors in a timely manner is vital to the success of any direct sales organization. Late or infrequent payments can decrease motivation to sell your products, which can damage your reputation and bottom line.
Embedded payments has become a hot topic in the SaaS world. Many SaaS leaders don’t understand what embedded commerce is, why investors are interested in software companies that are embracing it, or how to create a strategy that generates the results they desire. The...
It is a truth universally acknowledged, that a business with ambitions of a good fortune, must be in want of an optimized payments strategy. The less acknowledged part of this truth is that payments are ever-changing, complex, and fragmented. The faster and larger...
A leader in payment processing, Nexio, today announces that it has partnered with Chargebacks911 – the leading dispute technology specialists. This alliance means that Nexio will now benefit from Chargebacks911’s end-to-end dispute management offering while reaping...
Nexio is excited to announce that the WooCommerce integration for shopping carts is now available! Our ever-evolving platform now has complete integration and support for all our WordPress- and WooCommerce-using merchants. With an existing Nexio account, all the...
The world of payments is full of way too many complicated terms and processes. The tangled web of connections, gateways, facilitators, and fees can leave anyone feeling lost in a sea of jargon. Chargeback management software that fits your needs is critical to...
It’s hard to avoid how integral technology has become to our day-to-day lives. Everything from your smartphone to your light switches and refrigerator could have an embedded microchip to connect the device to the cloud. It’s made life much more accessible when you can...
Offering multi-currency pricing (MCP) solutions for international payments is a great option for your customers to pay for your products in their local currency. In the two options below, the way merchants approach pricing and the technical considerations are quite...
Social shopping is more popular than ever. Within the past year, we see that most of the world has spent more time on social media and making online purchases. The expected projections predict to see growth to $604 billion by 2027 in the US. If your business wants to...
Most of us have at least one social media account, while others have many. Whether you use LinkedIn, Facebook, Twitter, Instagram, Snapchat, TikTok, or more, you have probably started to see opportunities for purchasing a product or service through these platforms. By...
I recently have become quite exhausted by the constant change of direction that we need to adapt to as developers. Responding to change is a critical part of the business. However, developing software and the opportunity cost of building the wrong thing makes it very...
Let’s say you have this really sweet business model where you have accumulated 500 customers that spend $100 a month on a subscription or auto-ship package of goods or services. Not all of those transactions get approved, so perhaps you get $35,000 a month. That’s...
Merchants need payment solutions for the ever-changing regulations in the payment processing industry. Typical payment processing lacks the added tools that savvy merchants need to manage their growth. After seeing clients struggle with these problems, Nexio was...
Nexio uses multiple strategies to prevent fraud, keep customers’ private information secure, and provide a safe checkout method. Check out how this process works for back-office software on this webpage: https://nexiohub.com/howitworks/ 3DS: 3DS is a security tool for...
Most consumers are familiar with the idea of subscription payments. Perhaps you have your own experiences where you have a pest control service that bills you quarterly. Or you pay a monthly fee for your gym membership. Maybe you visit the chiropractor and have a...
Whatever you are selling, you want to sell more and offer more people access to your product or service. Cross-border selling has increased by 25% from 2015 to 2020. Additionally, cross-border e-commerce sellers manage to boost their sales by an average of 10 to 15%....
Behind every payment transaction is a complex process that involves banks, cardholders, merchants, payment service providers, and payment processors. Each step is complicated, involving security and protection of data, processing transaction information, and accepting...
When your electricity goes out, do you have a back-up plan? Do you have a generator or solar panels? How much power will you need? Can you live on just battery-powered devices? As we are focused on the world-wide pandemic of COVID-19, we should also think of the...
Black Friday is over as well as Small Business Saturday and Cyber Monday. But that doesn’t mean that the shopping season is over! According to the National Retail Federation, 61% of shoppers will buy their last gift in the week leading up to December 25th. With the...