The company reached the milestone with the launch of Stax Processing, ushering in “a new era for the company, defined by greater autonomy, adaptability and innovation,” the release said.
The technology behind Stax Processing was built and managed in-house, ensuring full ownership and control of the payments experience, according to the release.
“By removing longstanding industry barriers, Stax has reduced reliance on third parties and gained the ability to adapt rapidly to technological and market shifts, giving independent software vendors (ISVs) and merchants the flexibility to deliver smarter, faster solutions for their customers,” the release said.
The company called the achievement the capstone of a multiyear effort to “vertically integrate the entire payments lifecycle,” achieved via acquisitions and technology unification, per the release.
“With Stax Processing, we’ve brought to life our vision of delivering end-to-end payment experiences on our own platform,” Stax CEO Paulette Rowe said in the release. “This launch represents a pivotal moment for our company, giving customers the visibility, flexibility and control they need to deliver seamless transactions, strengthen customer relationships, and unlock new revenue opportunities.”
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Meanwhile, Rowe discussed several topics with PYMNTS in an August interview, including embedded payments.
By the end of this decade, embedded payments will evolve from infrastructure or add-on revenue into a crucial operational feature, Rowe said. The transition will see payments woven into software platforms.
“There’s so much for software companies to get their arms around because everything’s becoming so much more vertically tailored,” she said. “…Partnering with payment providers,” including Stax, “will be the most successful model for SaaS companies” as they embrace new payments use cases, listening to client feedback while anticipating the needs and opportunities that those customers might not yet entirely articulate or even predict.
Rowe also discussed the company’s artificial intelligence integration, highlighted by “Benji,” an AI agent deployed in customer support that now handles nearly 70% of customer queries and can communicate in 17 languages.
