Acquisition of BlockChyp brings new technology and industry expertise to Stax, furthering its evolution as a leading payment processor
ORLANDO – October 1, 2024 – Stax, a leading payment technology provider, today announced its acquisition of BlockChyp, further expanding the company’s end-to-end processing capabilities. The addition of BlockChyp marks a significant, strategic expansion of Stax’s growing technology stack to drive increased value for partners and merchants and accelerate growth. The BlockChyp acquisition is the most recent of numerous strategic moves by Stax over its 10-year history including its acquisitions of CardX, Fusebill, and Payment Depot in 2021 and Atlantic-Pacific Processing Systems in 2023.
“As Stax continues to offer the best embedded payment solutions to unlock partner and merchant success, we remain steadfast in our commitment to investing in innovative technology and industry expertise,” said Paulette Rowe, CEO of Stax. “The addition of the BlockChyp team brings deep experience in retail payments and leading payments technology. I have seen remarkable growth and innovation from the team during my time as CEO of Stax, and this acquisition serves as an accelerator for Stax’s future as a differentiated, verticalized payments partner serving a broader customer base.”
BlockChyp’s technology, which features a leading payments gateway, simplified APIs, and streamlined customer onboarding experiences, will add further differentiation to the Stax solution helping to reduce friction and deliver an enhanced experience for Stax partners and customers. This acquisition perfectly complements the work that Stax has done in the ISV space, and accelerates Stax’s position as a leading, multi-channel provider of embedded payments solutions.
“The payments industry continues to see incredible growth, but with it comes an increasingly saturated and difficult space to navigate as a merchant,” added Jon Decker, CEO and co-founder of BlockChyp, who joins Stax’s executive team. “This acquisition by Stax opens access for our customers to be served by an incredibly experienced team and allows us to continue to develop innovative payment solutions for our partners and customers. Joining Stax and combining our technologies and expertise will deliver powerful and innovative payments solutions.”
Boston-based payments and fintech investment bank Wellesley Hills Financial served as BlockChyp’s exclusive financial advisor in the transaction.
For more information about Stax, visit staxpayments.com.
About Stax
Stax Payments is a leading, high-growth payments technology provider that helps software companies, resellers, and SMBs realize the value of integrated payments for their business. Stax helps drive incremental revenue through frictionless, secure, and reliable payment processing and recurring billing solutions. From robust reporting to easily reconciled payments, Stax offers a full suite of adaptable tools and payment features to build the right solution at any scale, unlocking partner and customer success. Since 2014, Stax has grown to process over $30 billion in payments and serve more than 30,000 businesses and software platforms across the U.S. and Canada.
