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Stax by Fattmerchant 2023: Reviews & Complaints
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We have recently lowered Stax’s rating due to the company refusing to provide its customers with detailed account statements regarding individual transactions and the associated interchange fees. Stax 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 so accurately. We cannot recommend Stax until the company provides complete transparency to its customers in an easily accessible format.
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.
Subscription-Based Pricing Model
One of the standout aspects of Stax by Fattmerchant is its subscription-based pricing model, which differentiates it from many other providers in the industry. This transparent pricing structure offers businesses a cost-effective alternative to traditional percentage-based fees, resulting in potential savings for merchants processing a high volume of transactions.
Omni Software Platform
The proprietary Omni software platform developed by Stax is another distinguishing feature. This all-in-one platform consolidates payment processing across various channels, providing a unified view of a business’s transactions. The platform’s user-friendly interface and real-time analytics offer a seamless experience that simplifies payment management for merchants.
Integrated Inventory Management
Stax’s integrated inventory management system is a valuable addition to its suite of services. This feature allows businesses to maintain accurate inventory records and streamline their operations. By integrating inventory management directly into the payment processing platform, merchants can optimize their workflow and save time on manual tasks.
Virtual Terminal with Invoice Management
Stax’s virtual terminal goes beyond basic payment processing by incorporating advanced invoice management features. Merchants can create and send customized invoices, track outstanding payments, and even set up automated reminders for customers. This added functionality makes it easier for businesses to manage their invoicing and receivables.
Another unique aspect of Stax by Fattmerchant is its developer-friendly API, which allows for seamless integration with third-party platforms and custom applications. This flexibility makes it easier for businesses to tailor their payment processing solution to their specific needs and integrate it with other systems they may already be using.
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. Businesses are also able to add on a Bluetooth reader or terminal if they choose to accept card-present transactions.
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, while Sal Rehmetullah is also listed as a founder.
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 66 complaints and 41 reviews in regard to its…
- Sales & Marketing: Does not appear to hire independent sales agents and has not received any complaints about its…
Stax by Fattmerchant Customer Reviews
Here's What Their Clients Say
|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. If you have your own Stax by Fattmerchant review to make, please do so in the comments below.
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.
We have not found any outstanding class-action lawsuits or FTC complaints filed against Fattmerchant. Dissatisfied clients 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 Support 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.
Stax by FattMerchant Customer Service Number
- (855) 979-1080 – Toll-Free General Customer Service
Other Support Options
- Live chat
- Customer service form
Fattmerchant hasn’t been in the industry for very long, so it may start accumulating complaints over time. However, its customer support options, legal history, and relatively clean complaint record over its first few years in business are impressive enough to warrant an “A” in this category.
Stax by Fattmerchant Online Ratings
Here's How They Rate Online
Over 60 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 66 complaints in the last 36 months.
What Merchants Say
In addition to those 66 complaints, Stax by Fattmerchant has also received 41 informal reviews, although it should be noted that these informal reviews are not subject to authentication by the BBB. Of the 41 informal reviews 28 were negative in tone while 13 were positive. This is a major uptick in negative reviews from the 3 at the time of a recent review, but it appears that the company does respond professionally to most reviews. The most recent negative review mentions faulty equipment and poor customer service:
We started with Stax payments 2 weeks ago. It has been nothing but trouble from the beginning. The first Dejavoo terminal wouldn’t turn on. The second took transactions but wouldn’t batch (at all). I am still waiting for those funds. The third seemed to work, but when I self batched, no funds have hit my bank in 3 days. Only the portal got funds into my acct. Of course that takes a lot more time and keyed-in expense, I assume. They said that they were working on it (a week ago). But now waiting on those that “batched” this week too. Communication is lacking. I hope I get this resolved before we run out off money? Looks like we will have to put sales through the portal again today, as those are the only funds that get to the bank! We are a small retailer. I’ve lost too much sleep over this!
Clients 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.
Stax by Fattmerchant Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||Interchange +|
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.
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 its customers. In fact, this reviewer recently reviewed a merchant account statement that 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 its rates along base interchange rates, it should have no issue providing detailed transaction information to its 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 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.
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.
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 clients processing well over $1 million per year will be quoted higher monthly fees.
Stax by Fattmerchant Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||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 reviews 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.
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.
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