Following the acquisition of Atlantic-Pacific Processing Systems (APPS), Stax Payments is set to further expand its technology stack, offering its partners and merchants flexible, secure, and customisable options for their payment processing needs through the use of a single platform. In addition, the company aims to deliver an overall improved payment experience for traders, ISV, ISO, and payment facilitators.
The APPS platform will be called Stax Processing and is set to serve as the foundation processing layer in order to optimise fintech offerings for ISVs, ISOs, and small and medium-sized businesses (SMBs). The new, frictionless, end-to-end ecosystem will also include improved multi-channel capabilities and data reporting, as well as additional customisation services. The expansion of Stax’s functionality will start during Q4 2023, with complete integration of the company and other additional planned developments aimed to happen throughout 2024.
Through the acquisition, members of the Atlantic-Pacific Processing Systems leadership team are set to join Stax, with an additional number of nearly 50 new team members of APPS being integrated into its broader team as well.
US-based fintech company Sax Payments had several partnerships and launches in the last couple of months, covering different geographic areas around the world.
In July 2023, Stax Payments announced its collaboration with PayPal in order to provide clients and users with a comprehensive and secure solution focused on online payment acceptance.
According to the press release published at the time, the partnerships gave eligible Stax Payments clients the possibility to accept payments via PayPal, Venmo, as well as PayPal Pay Later options, through the use of the Stax payment platform. In addition to the new suite of payment methods, Stax Payments was given the capability to offer its users nearly instant access to funds, fraud detection services, and seller protection on eligible transactions, together with the built-in compliance standards of PayPal.
By being able to accept PayPal, Venmo, and PayPal Pay Later options, Stax was enabled to offer customers multiple other benefits, such as increased sales, expedited checkout implementation, as well as an overall improved payment experience, by addressing their needs, preferences, and demands. Moreover, the company was set to provide multiple secure and comprehensive payment options, with the possibility for its clients to choose which methods meet its expectations and needs the best.
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