Stax At a Glance
Stax is rated one of our top 10 credit card processing platforms of 2024. This credit card processing platform is best suited for companies that are already up and running and making above $5,000 per month consistently. Unlike other credit card processing platforms, Stax charges a fixed monthly fee instead of a percentage of each transaction.
The price starts at $99 per month for companies with an annual income of up to $250,000. Stax works on a shelf system and the monthly cost is based on your annual income. When your company makes between $250,001 and $500,000, you’ll be paying $199 per month. If you process more than $500,000 per calendar year, you’ll need to contact Stax to receive a customized price quote to match your specific needs. Subscription prices are determined by processing volume and do not include cents per transaction.
When you’re only charging customers through an online shopping cart, you may not need the company’s software. However, if you plan to invoice customers or are charging customers in person, you’ll need the accompanying software to process these payments.
Other Benefits
Stax comes with some optional add-on features. If you use QuickBooks for bookkeeping, you’ll be able to sync your data between platforms automatically. Stax also provides terminal protection, where you can swap out your terminal an unlimited number of times, in case it breaks. You are also able to receive immediate access to funds the same day you were paid, including on holidays and weekends for an additional charge. Stax’s brand customization tool allows you to create custom invoices.
Fine Print
Stax’s fixed monthly cost will be higher than other companies like PayPal and Intuit QuickBooks Payments, but this may work out to be more affordable if you earn above a certain amount. You’ll be able to speak with Stax about how much income your business brings in on an annual basis, to determine if it’s the right choice for your company.
How Stax Stacks Up
| Stax | Square | PayPal | |
|---|---|---|---|
| Keyed transactions | 15 cents per keyed transaction | 3.50% plus 15 cents per transaction | 3.50% plus fixed fee of 15 cents |
| Swipe/Chip Transaction Fee | 8 cents per swipe transaction | 2.6% plus 10 cents per transaction | 2.70% plus fixed fee of 15 cents |
| Invoicing | Yes | Yes | Yes |
| Software Integration | QuickBooks Online | Acuity Scheduling, GoDaddy Websites and Marketing, Wix, WooCommerce, JotForm (and more) | WooCommerce, Magento, Wix, BigCommerce, GoDaddy |
| Customer Service | Live chat, phone service, knowledge base and blog | Live chat, phone service, knowledge base and blog | Live chat, phone service, knowledge base, no blog |
| Learn More | |||
| Read Reviews | — |
You’ll notice that Stax has a different payment structure for keyed and swipe/chip transactions. That’s because they charge a higher monthly rate. If you’re spending more than $100 per month on credit card transaction fees, that rate might start to be worth it.
As far as software integration, you’ll have more options with Square and PayPal. However, QuickBooks is a popular bookkeeping software and, if you use it, it’s helpful to know you’ll be able to sync your data between the two platforms. All three companies have invoicing capabilities.
Customer service at Stax will be more customized than PayPal and Square. The company works with around 12,000 customers, as opposed to PayPal’s 390 million active customers.
Is Stax Right for You or Your Business?
Because Stax uses a flat subscription model, it’s best suited for businesses that are pulling in a certain amount of money per year. That number, according to a Stax representative Forbes Advisor spoke to, hovers around $5,000 per month. If your business is making above $5,000, the fixed monthly fee may save your company money.
In contrast, if your company has not reached that threshold yet, it may be more cost-efficient to choose a company like PayPal, which charges a percentage for every transaction.
Stax offers more customized and individual support to its clients. Unlike the bigger processing platforms like PayPal and Square, Stax speaks to each client over the phone when they sign up. Their customer support is in-house, which means they’ll be better equipped to support you if you run into technical difficulties.
Frequently Asked Questions (FAQs)
What’s Stax’s cancellation policy?
Stax does not ask clients to sign a contract committing them to a certain amount of time. As a customer, you can cancel with a 30-day notice. Some credit card processing platforms require you to sign up long-term and lock you into a contract. Regardless of the company, you’ll want to clarify the company’s policy before putting down your credit card.
Is Stax secure?
Stax comes standard with a number of security protections such as chargeback protection, SSL and PCI compliance features. It’s about even with its competitors when it comes to security.
How much does Stax cost?
Stax starts at $99 per month for businesses that earn up to $500,000. That fee goes up depending on how much you make. For example, if your company is earning between $500,000 and $1 million, the monthly fee goes up to $199 per month. Stax is flexible with customers and takes into account one-time income increases when considering their customers’ monthly rates.
What kind of customer service does Stax provide?
Stax handles its own software and its customer service is in-house. This means they’ll be able to answer questions should you have technical difficulties with the software.
How can I offset credit card processing fees?
There are a few ways to offset credit card processing fees. Increased pricing is one way to increase income to help cover fees. Passing the fee to the customer using a “convenience fee” upcharge is becoming popular now that more credit card processing companies offer this service. Statistics show this works well in retail store settings where merchants can offer a cash discount option at checkout.
Why does my business need credit card processing?
According to a study by the American Bankers Association in May 2021, there were more than 320 million credit card accounts active in the United States in 2020. This means that the vast majority of American adults hold at least one account, if not more. With credit cards being so common, not having the ability to accept them means a huge potential for missed sales opportunities.
