Stax Payments Review (Formerly Fattmerchant) Stax Review with Rates, Fees & Complaints

Stax Payments, formerly Stax by Fattmerchant, is a U.S. merchant services provider based in Orlando, Florida that has been operating since 2014. The company offers merchant services through fixed monthly subscriptions and 0% interchange fee markups, and serves more than 12,000 small businesses, large companies and software platforms. Membership or subscription pricing is a deviation or variation of interchange-plus pricing, and the big difference is the markup percentage is 0%. Today, Stax Payments has powered more than $9 billion in transactions.

Pros of Stax Payments include an easy-to-use dashboard, transparent pricing, lower transaction fees and all-in-one invoicing and billing software, which make the company a great option for larger businesses, subscription-based retailers and businesses that process recurring payments. However, Stax’s relatively longer application and setup process and monthly subscription fees, as well as less robust software, may be an issue for some businesses.

What is Stax?

Formerly known as Sunshine Payment Services, followed by Stax by Fattmerchant, Stax Payments offers subscription-based merchant services that allow businesses to process payments from anywhere, in any way (on the phone, in-person, online, etc.) in one single platform. Stax claims to be the only payment processor to offer an omni-channel solution for merchants, and the company’s software platform also provides data analytics and the ability to integrate with other business tools such QuickBooks.

Stax Payments is not a direct processor and is a partner/reseller of Worldpay (formerly known as NPC/Vantiv). The company is one of few merchant service providers who offer their services for a single, all-inclusive monthly fee. Stax Payments has recently undergone some changes, including modifications to its pricing structure, as well as expanding outside of the U.S. The company claims to save merchants an average of 40% on their overall processing costs.

Stax by Fattmerchant: What Products and Services Does Stax Offer?

Stax Payments offers an integrated, all-in-one payment processing platform which includes the following products and services.

Payment Processing Services

Stax offers a number of payment processing products and services, including:

• Merchant Accounts: Stax Payments provides full-service merchant accounts with a unique merchant ID number for each business.
• Integrations: Stax offers numerous third-party integrations, so merchants can integrate Stax’s payment processing into other solutions, including POS systems, and use Stax terminals to accept in-person payments.
• Countertop Terminals: Stax Payments sells countertop terminals outright, rather than leasing them. Brick-and-mortar merchants who require a countertop payment device can choose between several Dejavoo terminals (along with the PAX A920). For merchants who already have a terminal, Stax by Fattmerchant will reprogram it to work with its system for free. Merchants can also add a protection plan to get more comprehensive support for their terminals.
• Virtual Terminal: The virtual terminal is the ideal choice for merchants who mainly take phone orders and key in payments through a computer. Stax’s virtual terminal also allows access to a inventory management, invoicing, and a customer database. The virtual terminal can also connect to Stax’s credit card readers, allowing merchants to take advantage of in-person rates.
• Shopping Cart: More advanced than the virtual terminal’s website payment feature, the Stax Payments shopping cart is designed for eCommerce businesses who sell online. The Stax Shopping Cart allows merchants to customize the look of their shopping cart, as well as keep customers on their site throughout the checkout process.
• Mobile Processing: The Stax Pay mobile app, which is available for both iOS and Android, allows merchants to process payments through a mobile POS device. MPOS options include the BBPOS Chipper BT and Chipper 2X BT mobile card reader, both of which connect via Bluetooth and support EMV payments (the 2X model also supports Apple Pay), and the Dejavoo Z1 and Z9 readers. The mobile plan also includes access to other aspects of the Stax platform, such as invoicing and inventory.
• Developer Tools: The Stax Payments API allows for easy integration for developers or businesses that want to use Stax for processing but have their own custom software. Stax provides a JavaScript library for web payments and a mobile SDK for iOS and Android. For merchants who would prefer to integrate with terminals rather than going mobile, Stax offers an API for Dejavoo terminals. The invoice function will also direct customers to a Stax-hosted site so merchants can skip handling their customers’ card data altogether.

Stax Pay Software Suite

The Stax Pay integrated payments platform, formerly known as Omni Fattmerchant, centralizes all of merchants’ transactional information, among other features. Below are features included in the platform (at no additional charge):

• Web Portal: The Stax Pay centralized web portal gives users all of the information about all of the Stax services they are currently using, all in one place. According to customer reviews, the dashboard is simple and easy to use.
• Inventory Management: Stax Payments offers a functional inventory management system with inventory tracking and a centralized catalog. Though it lacks barcode or SKU support, Stax inventory management offers merchants the following features and capabilities:

Item categories

• Mark item as service
• Low-stock alerts
• Set discounts
• Manage tax rates
• Attach image files

• Invoicing: Stax Payments allows merchants to send invoices from the mobile app or the virtual terminal. The Stax invoicing feature syncs with your customer database and item catalog to fill in key details. Users can also set recurring invoices and view all of their scheduled invoices at once.
• Customer Database: With Stax Pay, merchants have access to their customer database, which allows them to keep track of important details such as purchase histories, invoices billed to the customer, preferred payment methods and any other data. Merchants are also able to store cards on file so they don’t have to ask for customers’ card information every time they make a purchase.
• Reporting: Stax Payments also offers basic reporting features included with the Stax Pay software suite, at no extra charge. Stax reports allow users to view all the data from multiple sales channels within one report. Users will have access to reports on financial data, item sales and category, and projected inventory, among others. For more advanced reporting, merchants will need to pay for a more expensive subscription plan or add the advanced reporting add-on to their existing plan (for an additional $20 per month).

In addition to the company’s core products and services, Stax Payments offers a variety of add-on services and software packages for an additional cost, including digital gift card sales and issuance tools, online stores with one-click shopping carts, integration with QuickBooks and more.

The Best Stax Payments Processing Equipment?

Stax Payments supports numerous hardware options to allow merchants to accept in-person payments, including mobile card readers and countertop terminals. Stax also allows integrations with a variety of POS systems such as ShopKeep, Vend, Revel and more, at no additional cost. According to the company, Stax Payments supports more than 90% of third-party systems. While merchants are not able to integrate their own hosted website with Stax Payments, the payments solution can be integrated with several e-commerce platforms.

A positive of Stax Payments is that terminals are included in their subscription plan at no additional charge, so merchants do not need to purchase or lease a terminal to get started. Protections plans are available for each device, ranging from $9 to $29 per month. Protection plans for terminals will cover any replacements and upgrades needed.

Not all hardware options and POS integrations are readily available on the Stax Payments website, so merchants may need to contact the company for more details on equipment.

Payment: How Much Does Stax Charge? Any Extra Fees?

Stax Payments offers three all-in-one software packages:

Growth Plan

• Starting At: $99/month
• Free Terminal or Mobile Reader
• ACH Processing
• Free Surcharging Capabilities
• Dashboards & Analytics (Lite)
• Quick Payment /Backup Processing

Pro Plan

• Starting At: $159/month
• Digital Invoicing
• Text2Pay Mobile Payments
• Website-Hosted Payment Links
• Securely Stored Customer Credit Cards on File
• Accounting Reconciliation Lite Sync (includes QuickBooks® Online)
• API Key Integration Capabilities
• Enhanced Dashboards & Reporting

Ultimate Plan

• Starting At: $199/month
• Recurring Invoices & Scheduled Payments
• Automatic Updates for Stored Credit Cards
• One-Click Shopping Cart Setup with Catalog Management
• Advanced Dashboards & Reporting
• Data Exports (i.e. transactions, customers)
• Dedicated Account Manager

Each subscription includes:

• First $500,000 in annual processing*
• 0% Markup on direct-cost interchange
• 24/7 Support and online knowledge base

Merchants who need to process more than $500,000 annually must contact Stax Payments to get a custom quote from the company.

Stax payment processing saves merchants from having to pay many of the incidental fees typically charged by payment processors, such as batch fees, gateway fees, monthly minimum fees, early termination fees and PCI compliance fees, as all of these are included in the Stax subscription. However, the company does not disclose its per-transaction fees on its website, which amount to:

• $0.08 + interchange fee per transaction for swiped/dipped/tapped transactions
• $0.15 + interchange fee per transaction for keyed-in transactions

It’s important to get a custom quote from the company in order to decide if Stax Payments is the best deal for your business, as it will really depend on the exact features you require and how much volume your business processes.

Agents

Stax Payments does not hire independent sales agents.

Doing Business: Contract Terms

One benefit of Stax Payments is that the company does not require annual or multi-year contracts. All Stax Payments accounts show billing on a month-to-month basis, with no early termination fee. However, merchants will need to give thirty days’ notice if they want to close their merchant account. Terms and Conditions are also published on the Stax Payments website for full transparency.

Stax Customer Support

Stax Payments handles all of their customer support in-house, and their technical support is available for free 24/7 via an email ticketing system to answer any questions merchants might have about their software or other issues. Customers can also call Stax for direct support from a customer support representative.

Subscribers to the Ultimate plan also receive a dedicated account manager for even more personalized customer support. Additionally, the Stax Payments website has a live chat tool, as well as numerous support articles to search for a quick solution.

Stax Payments Review: Testimonials

Overall, the majority of Stax Payments’ online customer reviews are positive. The company has a 4.3 Trustpilot rating – which is considered Excellent – based on over 500 verified customer reviews. Stax Payments also has a 95% CSAT score and an A+ rating on Better Business Bureau (BBB), showing consistently high customer satisfaction. Lastly, the company has a 73 NPS score – well above the average industry score of -12.

Below are some testimonials found on Trustpilot and G2:

• Kyle M., Marketing Associate: “Life-Saver For Our Business. Fattmerchant has been nothing short of spectacular for our business. We were originally turned on to them by connecting through our software partners. Fattmerchant had recently begun processing payments for them, and they came highly recommended for our us. The consultation process was very friendly and straightforward, and then we were able to setup and implement their payment processing extremely quickly. Now, we have access to tons more data in addition to being able to scale so much faster than I had ever expected. They totally blew me away.

Unfortunately, there’s almost too many options for payment processing companies out there and the differences between each are so complex. We probably would have never known about Stax by Fattmerchant if we hadn’t been connected through a partner. Thankfully, we got lucky.

If your company relies on an external software service, consider talking with them about which company they utilize for payment processing. Chances are you’ll be able to cut through the fat and find something that’ll work best for your business. We can now accept more payments, access more data about our customers and business, we’re saving money on each transaction and we can get that money in our bank account faster than before. 10/10, would definitely recommend.”

• Sasha M., Independent Sales Representative: “GREAT for any business that accepts CC for payment!!! This credit card processor charges a flat fee based on your annual sales (which can be fluctuated monthly, if your job is seasonal) and you only pay the actual credit card company fees. No % upcharge like many other companies. No problems. So far, the set up is easy. We will be utilizing for payments once our business opens but very excited to save on so many fees initially charged by many cc processing companies.”
• Small Construction Business: “User Friendly. This platform is pretty great. We are able to quickly charge, log, and create invoices on the spot very easily. Like a one stop shop. If you are looking for a great way to simplify your payments on the go…try Fattmerchant. I do not have enough experience yet to talk about savings, but the platform is amazing.”
• Katie S., Small Business Owner: “Excellent Flat Rate Processing. Fatt Merchant offers a simple, low, flat rate monthly fee for our merchant processing, rather than hidden fees that are impossible to determine, but MUCH higher. Their system is easy to use, and they couldn’t be more helpful on the phone. But overall, the cost-savings are the best part! If you are a law firm, you may have to walk Fatt Merchant through your need to separate trust and operating accounts. They can do it, but many other companies clearly don’t have this need.”
• Tyler: “Stax is the best solution for small business! We are a small business that was looking to simply our processing solutions, and Stax was by far the best option, and thus far, they have proved that. Gone are the days of a distant, hard to reach person for questions and infinite wait times to speak to a real person. We love Stax, and can’t wait to launch our upcoming systems with them!”
• Alex: “Seamless transition and excellent experience. The transition to Fattmerchant from my previous processor was seamless. They had me up and running with a new machine in less then a week and processing the same day it was received. The online portal is intuitive and packed with features like invoicing that you would normally have to pay for. On top of the cost savings, I couldn’t be happier with the customer service and overall experience of switching to Fattmerchant.”

Stax Payments Review: Complaints

Negative online reviews for Stax Payments are relatively sparse for the world of payment processing, but several customers have voiced complaints. The company has 11 1-star reviews on Stax Payments’ BBB profile.

The primary issues raised by dissatisfied Stax Payments customers revolve around:

• Hidden fees
• Billing issues
• Withheld funds
• Poor customer service

Here is a couple examples of negative reviews from Trustpilot:

• Suzanne: “Purchased the hands-free terminal which I received but had no Sim card try to get in touch with the customer service and unfortunately after three tries no one has called us back to set up and so we could start using it. Very difficult to get in touch with someone to return emails and phone calls!!!”
• DMF: “Fattmerchant credit card processing is different than explained when I signed up. Like many, I was looking for a better value. It is not possible to pass processing fees to the credit card user. This was “the catch” that drew me to Fattmerchant in the beginning. So, for starters, my fees are still high. Second, we are a small business, open since 1976 and have a stellar credit rating. Fattmerchant denied our request to allow eCheck payments on our website which would have reduced fee costs. When asked about this denial Fattmerchant says this issue has to be discussed with credit reporting agencies by law! In sum, no explanation given.

Stax Payments Review 2021: Conclusion

Stax Payments is a relatively well-reviewed merchant services provider who has a few unique selling points, including being one of the few industry providers to offer subscription-based pricing, which eliminates the percentage markup over interchange. Therefore, pricing is simpler, more stable and more predictable. It also makes a nice change of pace from merchant service providers who charge highly inflated rates and a plethora of different fees.

Pros:

According to a variety of online reviews, the following is a summary of Stax Payments’ biggest pros:

• Stax Pay integrated platform offers centralized, comprehensive payment processing features
• Greater account stability
• Access to numerous add-ons and integrations
• Transparent subscription-based pricing
• No percentage markup for transactions
• Month-to-month billing with no long-term contracts required
• Next-day funding available
• Integration with QuickBooks and more
• Personalized, in-house customer support (dedicated account manager for Ultimate plan holders)

Cons:

The following are some of Stax Payment’s primary cons:

• More expensive for low-volume merchants
• Recent uptick in negative reviews about customer service and billing issues
• Software suite not as robust as certain stand-alone software
• Does not offer some advanced capabilities that dedicated billing services do, such as the ability to require down payments and set up installments
• Not a direct processor – subject to acquiring bank in certain regards
• Longer application and setup process than some providers

It is important to note that Stax Payments provides much better value to larger businesses, as the more you process with Stax, the less you pay in terms of the percentage of your overall card payment volume. Therefore, smaller merchants with less volume may want to look for other service providers more tailored to their business size, such as payment processors that charge more per-transaction but either have lower monthly fees or none at all.

Stax Payments also has a longer application and setup process than some other providers in the industry and requires custom pricing for many businesses, so the company may not be the right choice for new business who want to get up and running as soon as possible.

Lastly, as resellers, Stax Payments is limited in their ability to provide more robust software and advanced payment processing capabilities, or the best possible price to their merchants, since the company does not own the entire process from front to back.

But for businesses with high monthly transaction volumes, Stax Payments can be a great deal, as the monthly subscription fee offers lower per-transaction processing fees.

As with all payment providers, it is important to analyze the costs based on your specific business needs to determine if Stax Payments is right for you.is an