Axe Payments Review

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.