Revenue stack is Payments + Sales Tax / VAT / GST Calculation, Collection, Filing, Remittance + Subscription Management & Invoicing + Fraud Prevention.

Let me start by saying that everything is doable given enough time and money. But the question remains - can you instead use your precious resources on making your product relevant & unique, attract more customers and improve customer satisfaction? In conclusion, there is an opportunity cost to every initiative and you have to judge whether an initiative will distract you from your main mission.

Developing and implementing the payment, sales tax, subscription and fraud prevention engine sounds theoretically simple but it has several apps within each app of the system. These apps interact with each other as per defined workflows while being flexible to handle several use cases. Just to name a few,

  1. There is integration with various credit / debit cards, ensuring 3DS is enabled for EU customers, integration with each individual wallet payment method, ensuring you only display the payment methods which are supported in the particular country.

  2. There is localization & formatting of prices and currency for each country, there is the need to use the right exchange rate from the fx spread that changes every second.

  3. Additionally, you have to issue invoices compliant with local laws of the shoppers country.

  4. You have to ensure the email notifications don't end in customers junk mail.

  5. You have to be PCI compliant and stay updated with the changing tax laws, then register, calculate, collect, file, remit those taxes, be prepared for audits and store invoices for 10 years.

  6. You need to ensure that all the webhooks are setup correctly so that there is no duplication of data that may be a result of inadvertent repeated webhooks.

  7. You need to build a realtime fraud detection and prevention engine to avoid high costs related to chargebacks.

  8. You have to setup administrative process to handle chargebacks.

You have to do all of these, and many more nuanced tasks while generating high conversion and customer satisfaction.

There are countless more nuances that would nullify any savings that come from building your own payment, sales tax / VAT / GST, subscription and fraud prevention stack.

Transaction Cloud was specially built for selling SaaS and digital products globally. Due to our innovative Singularity Integration architecture a SaaS vendor can go live with our platform within a week. If you are looking for a simple, efficient, transparent and robust solution to be compliant, to save your development resources and to increase your conversion rate then, please contact us now.