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Stax by Fattmerchant Review: Fees, Comparisons, Complaints & Lawsuits

  • November 10, 2021
  • By Payments Industry Analyst, Phillip Parker
  • 4 User Reviews
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Rating

 3/5
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Website
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(866) 397-9826

Most Recent Comment

  • Adam: says:
    January 3, 2022
    "AMEN to lowering the rating. The lack of ability to provide detailed statements is what initially prompted us to discover thousands in addit..." Read More
See All User Comments

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Rating:
 3/5

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(866) 397-9826

Most Recent Comment

  • Adam: says:
    January 3, 2022
    "AMEN to lowering the rating. The lack of ability to provide detailed statements is what initially prompted us to discover thousands in addit..." Read More
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CRITICAL UPDATE:

We have recently lowered Stax by Fattmerchant’s rating due to the company refusing to provide its customers with detailed account statements regarding individual transactions and the associated Interchange fees. Fattmerchant claims to pass along base Interchange fees with no markup; however, refusing to provide detailed statements makes it impossible to verify that the company is doing this accurately or honestly. We cannot recommend Fattmerchant until the company provides this transparency to its customers in widespread and easily accessible format.

A Pioneer of Subscription-Style Pricing

Headquartered in Orlando, Florida, Stax by Fattmerchant is a subscription-style merchant account provider that was established in 2013 but began operations in early 2014. The company was previously known as “Sunshine Payment Services” and is a reseller of NPC/Vantiv (now Worldpay).

Stax by Fattmerchant Payment Processing

Like Payment Depot or Transparent Merchant Services, Stax by Fattmerchant specializes in charging merchants a flat monthly fee and a fixed per-transaction fee with no percentage-based rates. Fattmerchant offers merchant accounts via mobile phone payment processing as well as a robust virtual terminal for e-commerce merchants. The Stax mobile app is available on iOS with a just-released Android app. It can be used as a standalone solution or as part of an integrated omnichannel platform that includes both card-present and card-not-present processing. Additionally, all transactions, drafts, catalog items, and inventory updates made in the mobile app are synced in real-time across all devices, including Stax by Fattmerchant’s virtual terminal.

A Powerful Competitor to Stripe

Stax by Fattmerchant’s e-commerce solution offers many of the same features as the popular payment aggregator Stripe but with several notable improvements. While both services offer an API for developers, a month-to-month contract, and integrated mobile payment options, only Stax provides a lower per-transaction fee, a customer support phone line, next-day funding, and QuickBooks integration. Stax’s linked mobile solution supports invoicing, manually keyed-in transactions, saved payment methods, and camera-scanned cards. Merchants are also able to add on a Bluetooth reader or terminal if they choose to accept card-present transactions.

Stax by Fattmerchant Location & Ownership

Fattmerchant is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio. Fattmerchant is located at 618 E South St Suite 510, Orlando, FL 32801. Suneera Madhani is the founder and CEO of Fattmerchant.

Video Summary

https://www.cardpaymentoptions.com/wp-content/uploads/2021/11/Stax_by_Fattmerchant_Review.mp4

Stax by Fattmerchant Review Table of Contents

  • Costs & Contract: Offers a month-to-month contract through Vantiv/Worldpay with no early termination fee and…
  • Complaints & Service: Has received fewer than 10 public complaints regarding…
  • BBB Rating: Has an “A+” rating with the Better Business Bureau and has received 29 complaints and 29 reviews in regards to its…
  • Sales & Marketing: Does not appear to hire independent sales agents and has not received any complaints about its…
Stax by Fattmerchant payment processing
Stax by Fattmerchant is an affordable alternative to services like Stripe

Should You Trust Stax by Fattmerchant?

Lawsuits, Reviews & Complaints

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Complaint Summary

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Few Overall Complaints

We can find only a few negative Fattmerchant reviews, and there is no indication that the company is a scam or a ripoff. The available complaints seem to refer most often to bad sales experiences or undesirable pricing, but there is no consistent theme to the company’s negative reviews.

Email Invoicing Service

Stax by Fattmerchant’s virtual terminal lets you send one-time email invoices, schedule invoices to be sent ahead of time, or set custom payment due dates to keep money coming in on schedule.

Fattmerchant Lawsuits

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

Stax by FattMerchant Customer Service Options

Stax by Fattmerchant provides phone and email contact information on its website, and a company representative has informed us that the company also offers its own in-house after-hours support. This gives it an advantage over companies like Square or Stripe when it comes to serving mobile businesses and e-commerce merchants.

We have located one Stax by Fattmerchant customer service number:

1.855.979.1080 – Toll Free General Customer Service

Stax does not offer a dedicated email support address, however it does offer live chat support through its website and a customer service request form.

Fattmerchant hasn’t been in the industry for very long, so it may start accumulating complaints over time. However, its customer support option, legal history, and relatively clean complaint record over its first few years in business is impressive enough to warrant an “A” in this category.

Is the BBB Rating for Stax by Fattmerchant Accurate?

Better Business Bureau Profile

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BBB Summary

Product & Service Complaints 9
Billing & Collection Complaints 12
Advertising & Sales Complaints 5
Guarantee & Warranty Complaints 0
Delivery Complaints 0

High Resolution Rate for Complaints

Stax by Fattmerchant currently has an “A+” rating with the Better Business Bureau and has been accredited with the BBB since 2020. The company has received 29 complaints in the last 36 months. 9 of the complaints were due to a problem with a product or service, 12 were billing or collections issues, and 5 were due to advertising or sales problems. 22 of these 29 complaints were resolved by the company to the satisfaction of the merchant. The remaining 7 were resolved to the dissatisfaction of the merchant or received no final response.

What Merchants Say

In addition to those 29 complaints, Stax by Fattmerchant has also received 29 informal reviews, although it should be noted that these informal reviews are not subject to authentication by the BBB. Of the 29 informal reviews 17 were negative in tone while 12 were positive. This is a major uptick in negative reviews from the 3 at the time of our last review, but it appears that the company does respond professionally to most reviews. The most recent negative review mentions missing funds and poor customer service:

If you care about your money then do not use this company under any circumstance. They have horrible customer support and will steal money right out of your account. I wish I read these reviews before I started using them. Don’t risk it. This company should be put out of business for fraud.

Merchants in this situation should familiarize themselves with how to cancel their account without paying any fees.

A Well-Deserved “A”

Given the high resolution rate of Stax by Fattmerchant, we agree with the BBB’s rating at this time.

How Expensive is Stax by Fattmerchant?

Rates, Fees, and Contract Terms

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Cost Summary

Countertop Interchange + $0.06 - $0.08 Per Transaction
Virtual Terminal Interchange + $0.15 Per Transaction
Mobile Interchange + $0.12 - $0.15 Per Transaction
Shopping Cart Interchange + $0.12 - $0.15 Per Transaction
API Interchange + $0.12 - $0.15 Per Transaction
Third-Party Integrations $0.06 - $0.08 Per Transaction
Early Termination Fee $0
Standard Plan $99 Per Month
Enterprise Plan $199 Per Month
PCI Compliance Fee $0
ACH $0.25 - $1.50 Per Transaction

Month-to-Month, No Termination Fee

The standard Stax by Fattmerchant merchant agreement is a three-year agreement through Vantiv with automatic renewal for two-year terms and a liquidated damages early termination fee. A company representative has informed us that the company’s early termination fee is actually $0, and that this is specified on the company’s merchant application. The Fattmerchant website also states that the company provides a month-to-month contract with no cancellation penalty. Due to the punitive terms in the company’s boilerplate contract, merchants should ensure that their supplementary documentation lists an early termination fee of $0 or otherwise negates the language of the NPC contract. The Fattmerchant website also states that the company does not charge statement fees, PCI compliance fees, annual fees, batch fees, or monthly minimum fees.

Subscription-Style Pricing

Stax by Fattmerchant offers two pricing plans: a $99 per month standard plan for businesses that process less than $1 million annually and a $199+ per month enterprise plan for businesses that process more than $1 million annually. The standard plan does not charge a percentage-based markup above interchange, but it does charge either $0.08 per transaction (for countertop, virtual terminal, and third-party integration sales environments) or $0.15 per transaction (for online shopping cart, mobile, or API-based sales environments). This plan includes analytics and 24/7 technical support with no statement fees, annual fees, batch fees, or long-term contracts.

Lacks Interchange Pass-Through Transparency

Although Stax by Fattmerchant claims to pass along the base Interchange fees without any markup, the company provides no transparency regarding the fees associated with each transaction in its merchant account statements to it business owner customers. In fact, this reviewer recently reviewed a merchant account statement which appeared to be experiencing much higher than average Interchange rates. Upon requesting detailed statements for each transaction and associated Interchange fee, Fattmerchant refused to provide such information. Such a refusal raises a red flag that the company may be padding fees on top of Interchange without disclosing it to its customers. If Fattmerchant is truly basing along base Interchange rates, it should have no issue providing detailed transaction information to it’s customers.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Stax by Fattmerchant also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. The company charges its monthly plan fees of $99 for its Standard Plan and $199 for its Enterprise Plan. Additionally, both plans charge merchants a rate of interchange plus $0.15.

ACH Payments

You can accept direct bank-to-bank payments through Stax by Fattmerchant for a flat rate of either $0.25 per transaction (standard) or $1.50 per transaction (expedited). This pricing and service is included with all Fattmerchant accounts.

Enterprise-Level Options

The $199+ per month plan also does not charge a percentage-based markup above interchange, but its per-transaction rates are either $0.06 per transaction (for countertop and third-party integration sales environments), $0.12 per transaction (for online shopping cart, mobile, or API-based sales environments), and $0.15 per transaction for virtual terminal. It includes the same features as the $99 tier plus risk monitoring, a dedicated account manager, integrated analytics reporting, and chargeback assistance. The Stax by Fattmerchant pricing page notes that its enterprise plans “start at” $199 per month, so it’s possible that merchants processing well over $1 million per year will be quoted higher monthly fees.

Does Stax by Fattmerchant Use Deceptive Marketing?

Advertising & Sales Strategy

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Key Points

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

Keeping Sales In-House

Fattmerchant appears to utilize conventional advertising and an in-house sales team to market its services. There is no evidence that Fattmerchant is a typical industry “hiring mill,” and we cannot find any Fattmerchant complaints that accuse the company’s sales reps of unethical conduct. Two complaints from the past few years do mention aggressive telemarketing tactics by Stax sales representatives, but this does not seem to be a widespread issue at the company.

Full Disclosure

Stax by Fattmerchant provides a link to its contract terms on its website, and it lists its full pricing details for anyone to review. There is no indication that these fees are quoted in a misleading way. Fattmerchant’s commitment to transparency is uncommon within the industry and has earned it an “A” in this category, as well as a spot on our top-rated all-purpose processors list.

Does Stax by Fattmerchant Deserve Your Business?

Review Summary & Our Thoughts

High Savings and Quality Service

Stax by Fattmerchant rates as a reliable merchant services provider according to our rating criteria. The company is showing very few complaints and appears to offer competitive, transparent contract terms. Stax by Fattmerchant offers the unique value of being ideal for both newly established businesses and enterprise-level processing alike. Merchants are encouraged to request and review all documentation, even when dealing with top-rated credit card processors.

For more information about Stax by Fattmerchant, call (866) 397-9826 or visit Fattmerchant.com.

5-Star Rated Stax by Fattmerchant Competitors

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About The Author

Phillip Parker is a Payments Industry Analyst and creator of this blog, CardPaymentOptions.com. Phillip is passionate about researching merchant service providers and payment industry trends. He is often quoted as an expert source in national publications such as INC Magazine, The Los Angeles Times, Entrepreneur, and many others.

“I started this blog because I was disgusted by the business practices of the merchant services industry. I wanted to empower business owners by providing insight on how to avoid shady merchant account providers and costly credit card processing mistakes.” 

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What Others Are Saying About Stax by Fattmerchant

Customer & Employee Reviews

4 Responses

  1. Adam says:
    January 4, 2022 at 5:52 am

    AMEN to lowering the rating. The lack of ability to provide detailed statements is what initially prompted us to discover thousands in additional fees we were being charged by FattMerchant/Stax. I couldn’t understand how with our previous provider we got detailed statements of every fee, interchange rate, etc. but with FattMerchant/Stax they simply say they can’t provide this.

    I left a detailed review of our experience here: https://www.trustpilot.com/submitted/review?correlationid=5761d94f-d13b-4b5f-920a-4e729439f56c

    Not sure if outside links are allowed, but I can provide emails, documentation, bills, etc. detailing our unfortunate experience with FattMerchant/Stax. Really disappointing.

    Reply
  2. Cheryl Truong says:
    September 29, 2021 at 9:04 am
    Bonsai

    Beware: We signed up and never received our terminals. However, was being charged monthly fee of $209. We tried to cancel and ask for refund but the refused to refund. Eventually, we got more terminals but we called to return them and was told that I would receive return shipping labels in an email. Never received that either. I thought we could get this resolved but we were ignored and monthly drafts just piled up to upwards of $2900.00. We just had to stop payment on the drafts to our account. Probably going to seek legal advice. Never once used terminal, never once used service, never once received any cancellation notice from them even though I cancelled. I think it is illegal to charge for services/goods never received or used.

    Reply
  3. Fattmerchant aka Stax is Unreliable says:
    August 6, 2021 at 1:42 pm

    Fattmerchant has been really inconsistent and ultimately we chose to leave them for Dharma after several bad customer service experiences. For us Fattmerchant could never manage the most base level customer service actions- like updating a bank account – something that should be super easy was met with inaction, mistakes, and delays so we almost left them a month into signing up but we liked the interface and figured it was a bump. However a year later and we received a threatening letter from WorldPay the merchant services because Fattmerchant failed to update a 3d cart storefront we were setting up and never could once Covid caused layoffs so we cancelled it- but low and behold we found out from a collections person that Fattmerchant had created a completely separate MID for our storefront, failed to update the bank account to it and then when we closed the storefront we never built they forgot to tell World Pay that too so monthly charges accumulated for over a year that we never were told about. World Pay said Fattmerchant had access to the billing breakdowns and could not explain how not even the account manager assigned to us knew anything about charges accumulating. But Fattmerchant blew it and when we found out and reached out- we asked for a supervisor to our account manager to contact us and they never did.

    Our account manager even assured us in writing that upper management was aware and she could not explain why they were not reaching out to resolve this. We had a collections reported to our credit because of the incompetence of Fattmerchant to simply update our account information which they had confirmed in writing repeatedly they had done when they had not.

    I am disgusted with them. They have a good interface but when it counted Fattmerchant was terrible. No one took responsibility. No one helped. And worse, they even tried to suggest it was our fault for “not completing a PCI compliance” but I contacted World Pay and challenged that and they said it had nothing to do with PCI and everything to do with Fattmerchant not updating our account so yeah, in our experience, Fattmerchant aka Stax, sucks.

    Reply
  4. Brad L. says:
    October 21, 2020 at 11:19 am

    This is the first processor where I understand my fees. I also have been paying about half of what I was paying with my previous processor.

    Reply

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