Axe Payments Overview

Axe Payments May Have Overcharged You

If you accepted credit cards through Axe Payments or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

“Zero Processing” Surcharge Model

Axe Payments is a merchant account provider that offers zero fee payment processing. Zero fee processing is an increasingly popular pricing model that charges a merchant’s customers an additional 4% on all purchases at checkout in order to offset the payment processing fees charged to the merchant. Axe Payments also operates a sub-brand called “Quint” that sells merchant accounts with traditional pricing, but this review will focus on Axe Payments. The company relies on Clover and Impress POS as POS solutions.

Axe Payments Location and Ownership

Axe Payments is headquartered at 530-B Harkle Road, Suite 100 Santa Fe, New Mexico 87505. Axe Payments does not disclose the identities of its senior management team, but someone named Sean Sheehan has uploaded the company’s promotional materials to YouTube.

Axe Payments Review Table of Contents

  • Costs & Contract: Axe Payments offers a surcharge-based pricing program designed to offset all credit card processing fees.
  • Complaints & Service: Axe Payments has received fewer than 10 public complaints.
  • BBB Rating: Axe Payments currently does not have a profile with the Better Business Bureau.
  • Sales & Marketing: Axe Payments hires independent sales agents but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Axe Payments
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Products & Services Offered

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce

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Axe Payments Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%
Keyed-In Rate 1.00% - 4.99%
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms Variable

Variable Contract Terms

Axe Payments does not publicly disclose its contract terms, and there is no merchant feedback that explicitly describes the company’s pricing. Quint, its traditional payment processing brand, claims to offer “no contract” with a $5 per month statement fee and a free terminal. In the absence of public documentation, merchants should be sure to carefully review all contract terms before signing up.

Is It Really “Zero Fee”?

Like other zero fee payment processors, Axe Payments charges each merchant’s customers a 4% surcharge to all transactions and then applies the proceeds from the surcharge to the merchant’s credit card processing fees. This is intended to offset all per-transaction, monthly, and incidental fees charged for payment processing. In many cases, it is possible that this does result in effectively free credit card processing for merchants. However, merchants should be sure to consider whether their customers will resent being charged an extra 4% on all credit card transactions.

No Red Flags

The total absence of complaints about the company’s contract terms merits an “A” in this category, but it should be noted that this grade is awarded without any verified knowledge of specific terms. It is possible that Axe Payments’ contract terms are competitive with the cheapest merchant accounts under the zero fee processing plan. If you have any knowledge of the standard Axe Payments contract, please leave that information in the comment section of this review.

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Response from Axe Payments

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Axe Payments Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support No
Most Common Complaint N/A

No Public Complaints

We are currently unable to locate any Axe Payments complaints that accuse the company of being a ripoff or a scam. In fact, the credit card processor is showing no complaints or reviews whatsoever across various consumer protection websites. This seems to indicate that Axe Payments employs a proactive and available customer support team, or that it is simply very new.

Axe Payments Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Axe Payments. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Axe Payments Customer Support Options

The Axe Payments website lists a general phone number and email address for all correspondence, but no dedicated customer support information. We will award Axe Payments an “A” rating in this category, but the company’s customer support options do not qualify it as a top-rated customer service processor.

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Response from Axe Payments

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Axe Payments BBB Rating Summary

No Profile Available

The Better Business Bureau does not maintain a profile for Axe Payments at this time. We therefore will not factor a BBB rating into this review.

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Outside Sales Team

Axe Payments primarily appears to utilize a team of independent sales agents to market its services. The use of independent sales agents is commonly linked to elevated complaint rates, but we are currently unable to locate any Axe Payments complaints that mention unethical conduct by the company’s sales staff. This is likely due to the short amount of time that the company has been in operation.

Axe Payments Savings Calculator

The Axe Payments website currently features a savings calculator that purports to show merchants their “Total Annual Savings” after switching to Axe Payments. In reality, this calculator simply asks for the merchant’s annual sales volume and then states that the merchant will save 2.3% (retail), 2.5% (mobile), 2.7% (e-commerce), or 2.9% (MOTO) of that amount. This calculator is based on the assumption that since Axe Payments’ zero fee processing model does not charge any fees, merchants will save the entirety of their annual credit card processing costs. This calculator should not be taken seriously as a way to evaluate a merchant’s actual savings through Axe Payments.

No Misleading Quotes

Axe Payments does not appear to engage in any deceptive advertising strategies in its official materials. However, if you suspect that Axe Payments is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden charges.

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Response from Axe Payments

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Axe Payments Marketing Example

Axe Payments Logo

Our Opinion of Axe Payments

A Solid Option for Most Standard-Risk Merchants

According to all available information, Axe Payments rates as a dependable merchant services provider. There is not a lot of specific information available about the company’s corporate structure or contract terms at this time, and it is possible that the company’s rating will change once more becomes known. Even when dealing with companies that rate highly by our standards, we urge merchants to thoroughly examine the terms of any contract they are given and to compare its pricing to the top overall providers.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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