Overview

Businesses need a credit card processing platform as they grow, but for many starting entrepreneurs, this might not be their first priority. Businesses can easily accept cash and check payments, but what happens when the first customer with a credit card appears at your location? Stax by Fattmerchant is a platform for credit card processing that charges fixed monthly fees instead of a percentage of the transaction.

What is Stax by Fattmerchant?

Stax is known for its subscription-based model with no interchange rate markup. Businesses that process at least $5,000 in credit card sales every month will find Stax advantageous. Stax was founded in 2014 and is based in Florida. Small and medium-sized businesses can save up to 40% on credit card processing fees with Stax’s flat-rate subscription.

Stax Features

0% Interchange Rate Markup

Stax does not charge a markup on the interchange rate set by credit card companies, unlike many payment processing providers. They instead charge a monthly fee that will cover costs as well as the processing fee. This kind of pricing structure is advantageous for many businesses. It is especially beneficial if savings on the interchange rate can offset the monthly subscription fee.

Simpler Customer Invoicing

Stax helps growing businesses with their easy-to-use but powerful tools for billing and invoicing. You can send customized invoices through text or email, track payments, and schedule recurring billing. You can also send digital payment reminders to get payments faster. Invoice status is available on mobile or desktop to help you determine which payments are still pending.

Mobile Solutions

With Stax’s powerful mobile solutions, you can accept payment from any location. It offers convenience for collecting swiped, tapped, or keyed payments. You can also turn your tablet or phone into a mobile POS instantly.

E-commerce

Payment tools and solutions help businesses grow their online presence. You can expand the shopping capabilities by giving customers access to more payment methods. Stax also makes it easy to add a well-designed checkout page through their developer tools. The one-click shopping cart allows you to create an online cart by adding products and service items.

Track Analytics

Gain insights with convenient access to data required to keep the business growing. You can compare sales trends and monitor inventory in a single platform. Payments, purchases, and catalogs can be synced seamlessly between QuickBooks and Stax to give you an accurate view of your business finances.

Plans and Pricing

Stax charges a monthly fee starting at $99 for businesses with annual revenue of up to $250,000. The monthly cost of the subscription will depend on the annual income. Businesses earning $250,00, to $500,000 will pay $199 a month. For businesses that process over $500,000 per year, Stax will offer a customized quote that suits their specific needs. The subscription fee is based on processing volume and does not include cents per transaction.

In addition to the monthly subscription fee, businesses would also need to pay processing fees.

• In-person transaction: interchange rate + 8 cents

• Manually keyed-in transaction: interchange rate + 15 cents

Stax implements separate payment structures for keyed and swipe/chip transactions. The rationale behind this lies in their higher monthly rate for certain transaction types. However, if your monthly credit card transaction fees exceed $100, this elevated rate may become advantageous and cost-effective for you.

Growth Plan: $99 a month

• Free mobile reader or terminal

• Dashboard and analytics

• Next-day funding

• ACH transaction processing

• Tools & support for PCI compliance

Pro Plan: $159 a month

All features in the Growth Plan

• Digital invoicing

• Payment links for websites

• Securely save customer’s credit card details

• Integrate with software such as QuickBooks for accounting

• Enhanced reporting and dashboard

• Text2Pay mobile payment

• API key integration

Ultimate Plan: $199 a month

• Data exporting

• Advanced reporting and dashboard

• Automatic stored credit card updates

• Setup shopping cart with one click + catalog management

Stax Set Up

To sign up for a Stax account, you simply need to fill out a concise online form. Following your submission, the company carefully reviews your application to ensure that all your documents are in order and that your business meets the necessary compliance standards. This diligent evaluation guarantees that your account is set up correctly and in accordance with all applicable requirements.

After receiving approval for your Stax account, you will be promptly contacted by your designated payment consultant, who will then introduce you to your account manager. The account manager will guide you through the onboarding process where you will receive a detailed introduction to the features and functionalities that are most relevant and beneficial for your specific business. You can access the account within 5 minutes of finalizing the registration.

Customer services

Stax stands out by providing personalized and individualized support to its clients. When customers sign up, Stax takes the initiative to engage in direct phone conversations with them. The advantage of having in-house customer support ensures that they possess the expertise needed to offer effective assistance, especially in resolving any technical challenges that may arise during your interactions with the platform.

Stax’s Account Support Team is available to assist customers during the weekdays, from Monday through Friday, operating from 9 am EST to 5 pm EST.

• Phone: (855) 550-3288

• Email: support@staxpayments.com

Bottom Line

Stax’s flat subscription model is most suitable for businesses that generate a specific minimum revenue per year. According to a Stax, this revenue threshold is typically around $5,000 per month. For businesses that surpass this amount in monthly earnings, opting for the fixed monthly fee under Stax’s subscription model can result in cost savings for the company.

If your company’s monthly revenue has not yet reached the threshold, it might be more cost-efficient to consider an alternative such as PayPal. PayPal typically charges a percentage fee for each transaction, which can be more suitable for businesses with lower transaction volumes.