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.

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.

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.

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.