Stax By Fattmerchant Review 2022 – Top 10 Credit Card Processors
Subscription-based pricing and a zero percent charge on exchange rates are hallmarks of Stax, previously Fattmerchant. When looking for the best credit card processor, it might not be easy to maintain a record of all the different costs. As a result, some companies opt for a pricing strategy that includes it all in a single price. Fattmerchant’s Stax delivers this in a simple and faster way.
Stax fattmerchant is reliable service provider. The company's clear and public business plan is a refreshing break in addition to its unique membership price scheme. It's a big relief to understand a company that values its consumers and provides a flexible and reasonably priced service like this. We hope that the company's growth and other similar service providers will lead to long-term reforms in the processing sector as a whole. Is it going to happen? The best guess is that everything has already started to change.
However, no service provider can claim to be faultless. When determining of Stax is a suitable fit for your organization, you will need to perform some arithmetic and analyze features. Overall, the platform provides enough incentives to make the service valuable, particularly when paired with the reliability of a full-service merchant account, comprising credit card terminal sales, consolidated invoicing, data analytics, and stock control.
- Interchange Rate with No Markup
- A price increase on the interchange interest imposed by credit card companies isn't included in the provider's pricing, unlike other payment processors. As a result, the service charges a one-time transaction fee and a monthly subscription fee. For some enterprises, this price structure could be a suitable option. Stax's pricing is competitive with other valuation methods when a business's monthly savings from lesser merge rates negates the monthly membership cost of the service.
- Customizable add-ons.
- Add-on features from fattmerchant allow you to personalize your package further. With the one-click shopping cart option, you can easily set up a digital shop or utilize another tool to sell gift cards. Personalization options are offered for receipts, invoices, and payments. Surcharging and reduced interchange costs for card-not-present transactions will help you minimize the expense of payment processing.
- Better Customer Care Services
- The company's custom
- There is No pricing Information Available.
- Stax claims to value openness, yet the only price information it provides is for monthly subscriptions. In addition to processing fees and cancellation fees, several payment processors give more specific price quotes. It would be nice to know the overall cost of the provider's products when evaluating it with other payment providers, such as PayPal.
- It Does Not Favor Small Businesses
- But not all organizations can benefit from the service provider's subscription-based pricing system with cheap transaction rates. If your monthly sales processing volume is lower, your savings may not be sufficient to make up for the membership charge. Since its hefty monthly membership fees are not economically efficient for enterprises with minimal transaction volumes, the company defines a modest monthly transaction volume at $5,000.
Established in 2014, Stax by Fattmerchant is an Orlando, Florida-based payment processing firm. Because of the subscription-based pricing model, it’s simple to see the amount you will be spending monthly. Payment processing prices are kept low for wholesalers, so businesses can pick the degree of back-end feature they want from the different monthly plan options. Subscription-based pricing necessitates a credit card processor that can handle high volumes of credit card transactions while maintaining a simple user experience.
Through a mix of in-house and third-party services, Stax fattmerchant serves many businesses. A complete merchant account and 24/7 customer assistance are included in membership-based pricing options.
Let us start with an overview of the basic offerings before delving further into some of the platform’s unique features.
- Merchant Accounts
Unlike other payment service providers, fatt merchant gives complete merchant accounts with a specific merchant ID number for each firm. Rather than serving as a payment gateway, Worldpay handles all of the actual transaction processing for the business.
Regarding third-party connections, the service providers are not as prominently featured as other payment processors. You may, however, utilize its terminals to collect payments in-person and connect Stax’s payment processing with other options, such as point-of-sale systems.
- Virtual Terminal
Are you paying for most of your purchases by a computer? Then the company’s virtual terminal can save you a bundle. You will have entry to a client list and billing and stock control tools. Similarly, its credit card readers may be connected to the virtual terminal, allowing you to use in-person prices. The Growth plan of the service provider contains a very simple capability for accepting website transactions if you do not want a full shopping cart.
- Counter Top Terminals
Retailers looking for a new countertop payment device may choose from a variety of Dejavoo terminals and the PAX A920 offered by the provider. There are no additional fees if you have an existing terminal compatible with the system. Adding a security package will provide you access to more services for your terminals. The option is good. If you don’t want to worry about connecting your terminal with your POS system, this is the best alternative.
- Shopping Cart
This is the place for you if you’re looking for an easy-to-use online payment processor. Online retailers may use the company’s shopping cart, which is fully customizable. Additionally, you will have complete control over the design and layout of the shopping cart, ensuring that your clients stay on your site throughout the transaction. The virtual terminal has an online payment capability but is more powerful.
- Developer Tools
The API makes it simple to integrate for developers or organizations that want to use the service provider for processing but have their own customized credit card processing software requirements. If you do not want to handle your customers’ credit card information, the invoicing feature will redirect them to a Stax-hosted website. The company provides an API for Dejavoo terminals if you connect with terminals instead of mobile.
- Customer Data Base
Information about your customers, such as favorite payment options, shopping habits, invoices sent to the consumer, and any other relevant information, can be stored in a customer database. Likewise, you can keep customers’ credit card details on file so that you do not have to ask for them each time they buy the product.
The alerting facilities are free of charge minimal, but they aren’t the worse tools. Additionally, you will get updates on sales by item and category and a forecast of your inventory. The report provides access to data from many sales channels.
- Sending Invoices
You can use the mobile app or the virtual terminal to do so. Your customer database and product catalog populate key fields in the invoicing function. You can establish recurring invoices, which is convenient, and see them all at a glimpse.
Plans and Pricing
The company’s official website may provide detailed information on the subscription fees and services. Additionally, the monthly membership price charges an extra $0.08 to $0.15 for every transaction, based on your payment mode.
There is no more charge for utilizing an EMV credit card terminal to take cards in person. Accepting credit cards in person with the use of a mobile credit card reader costs no more than interchange plus $0.15 per transaction, whether done online through a shopping cart, API, or virtual terminal.
There are a variety of subscription options available. To receive more software updates and monitoring, you may upgrade to a more costly plan or continue with the more basic one. They include;
It is designed for small enterprises, such as shops that wish to take credit cards that only need one payment method. The growth plan requires a user to pay a monthly fee of $99. It has the following features;
- Dashboards and analytics display gross and net revenues monthly, monitor refunds and generate reports for deposits, balances, and fee notifications.
- Payments accepted through phone or mail may be entered into a virtual terminal for
ACH payment processing.
- Credit card readers for smartphones and tablets that are completely free
With the Pro plan, you’ll have the option of accepting many payment methods along with the ability to keep track of your growth. In addition to account management and invoicing features, Text2Pay and web-hosted payments are included in the package. It goes for $159 monthly, and its other features include;
- The whole Growth plan’s aspects
- Easy-to-use dashboards for viewing and running extra reports on your sales data
- email and text message alternatives for creating invoices
- Checkout using a hosted form
- The fundamentals of customer management
- QuickBooks Online “lite syncs” and other third-party connections are available.
For the ultimate plan, you will pay $199 per month. It consists of the following features;
- features of all other plans are included.
- In-depth dashboards provide access to a wealth of information about your sales.
- Scheduled payments, invoices, and recurring bills may be arranged.
- Shopping carts that may be purchased with a single click
- Tools for catalog management
- Extraction and exportation of data
- For cards on file, an auto-updater
- The ability to work with a personal account manager
You must pay a $25 chargeback fee if a client disputes a transaction and requests a refund. Failure to comply with specified security measures will result in a $54.99 PCI breach fine. If you don’t handle a specific amount each month, you’ll be charged $25.
Even though the organization provides other services, no pricing information can be found on its website. For pricing information, you’ll need to phone the firm and chat with a salesperson.
Customers may buy equipment from this firm for “near to cost,” as it claims. According to our research, the Dejavoo Z8, Z9, and Z11 cost from $100 to $350. The Dejavoo Z8 was Stax’s only credit card terminal up until now, but it will soon provide Clover technology, including POS systems. Clover’s costs have yet to be announced. Third-party POS systems, such as those not made by Clover, are also compatible with the company.
Frequently Asked Questions
What Payment Methods Do I Accept?
Providing different payment options to your clients has been demonstrated to improve revenue. You may grow your company beyond cash transactions by providing consumers with simple payment solutions at checkout. They include;
- Contact payments
- Virtual terminal
- ACH payments
- Contactless payments
- eCommerce Payments
Processing of Credit Cards is it safe?
To handle credit card transactions, businesses need to take safety protocols, whether in person, online, or both. It is possible to handle credit cards safely and securely if the necessary precautions are in place. More than $700 billion are stolen from companies by credit card theft in only one year. It is also possible to lessen the inherent dangers associated with taking credit cards by using the appropriate tools and methods.
Are There Contract Termination Fees if I decide to End my Subscription Early?
Yes and no. It’s free to decline your subscription midway if you take a free terminal and return the hardware, but if you don’t return it, you’ll have to pay $499 – which is more than the equipment’s initial cost. If you refund the equipment or accept a free mobile reader, the cancellation cost is waived.
When Can We Expect to Start Accepting Credit Card Payments?
Setting up a pay-as-you-go account may take as little as a few minutes or as long as two days, based on the scale and nature of your organization. For more big corporations, it is required to spend between 24 and 48 hours essential to set up a merchant services account correctly. If the account needs a physical device, add 2-day delivery to that.
Do I have access to Customer Care Support?
Businesses often encounter this difficulty when attempting to contact customer service about a problem with their payment processing. The loss of a few hours or a day’s income might be catastrophic for a corporation that relies on such revenue-generating. Stax’s goal is to provide the best user experience for every business. Whenever you contact them by phone or email with any questions or concerns, they have a true in-house group of experts ready to help. Businesses can use these resources and tools to better deal with any problems or questions.
What Should I Look for When Choosing a Payment Processor?
There are two main factors to consider;
- A payment processor’s way of connecting with other essential company products should be your first consideration when shopping for a solution. Using a unified payment platform, you should be able to observe and control the wellness of your company while accepting payments more quickly and effectively.
- Another factor to think about is the price. Credit card processing costs vary widely across payment processors. Inquire about the price structure of a payment processing service provider that is simple. As a result, you won’t have to worry about being surprised by unexpected fees or significant changes in your monthly costs.
- Interchange Rate with No Markup
A price increase on the interchange interest imposed by credit card companies isn’t included in the provider’s pricing, unlike other payment processors. As a result, the service charges a one-time transaction fee and a monthly subscription fee. For some enterprises, this price structure could be a suitable option. Stax’s pricing is competitive with other valuation methods when a business’s monthly savings from lesser merge rates negates the monthly membership cost of the service.
- Customizable add-ons.
Add-on features from fattmerchant allow you to personalize your package further. With the one-click shopping cart option, you can easily set up a digital shop or utilize another tool to sell gift cards. Personalization options are offered for receipts, invoices, and payments. Surcharging and reduced interchange costs for card-not-present transactions will help you minimize the expense of payment processing.
- Better Customer Care Services
The company’s customer care may be contacted by live chat, email, or the assistance ticket form on its website. Businesses who subscribe to the Ultimate plan have access to personal account representatives. There is a specific setup manager for new merchants, as well.
- Extra Educational Resources
A searchable knowledge library with articles and step-by-step guidance on product upgrades, refunds, PCI certification, how to utilize different software functions, and technical support difficulties is available on the agency’s webpage. Likewise, the service provider maintains a blog, routinely updated with material regarding payment processing and other issues relevant to small companies.
- There is No pricing Information Available.
Stax claims to value openness, yet the only price information it provides is for monthly subscriptions. In addition to processing fees and cancellation fees, several payment processors give more specific price quotes. It would be nice to know the overall cost of the provider’s products when evaluating it with other payment providers, such as PayPal.
- It Does Not Favor Small Businesses
But not all organizations can benefit from the service provider’s subscription-based pricing system with cheap transaction rates. If your monthly sales processing volume is lower, your savings may not be sufficient to make up for the membership charge. Since its hefty monthly membership fees are not economically efficient for enterprises with minimal transaction volumes, the company defines a modest monthly transaction volume at $5,000.
Is The Company Right for You?
Staxx by fattmerchant is best used as a subscription service by firms that make a set amount each year. According to a Stax official, these costs are roughly $5,000 per month. Your firm may save money if it has an annual revenue of at least $5,000. For smaller businesses, though, a service like PayPal, which costs a percentage of each activity, maybe a better option since it is free to use.
The customers get more tailored service and attention from the company. Unlike larger payment processing companies, the service provider talks to each new customer by phone when they join. In-house customer service means they can help you out more quickly if there are any technical issues.
To take credit card payments, you must subscribe to an account at least two weeks in advance. According to the representatives, the application may be completed online in approximately five minutes. Within two days of receiving it, the firm may examine it and begin setting up your merchant account.
To apply, you will be required to provide a few pieces of basic personal and business details. A voided check and past processing remarks are necessary if you shift from another processor. The company will ship your hardware upon approval, which must arrive within a few days. You can start processing immediately you receive the devices because it is plug and play. It’s worth noting that the company provides committed people to assist new merchants in getting started and answering any questions they may have for the first 90 days.