As of 2019, there are more than 1,300 independent sales organizations registered with Visa that sell credit card processing services to business owners. With over a thousand options to choose from, how do you know which is the best merchant services company for your business and overall customer experience?
Choosing the right payment processor is vital to the success of your business.
With that said we want to help cut through the jargon and make your decision simple. In order to do so, we’ve compared Stax’ products and services with that of one of our most well-known industry competitors, Stripe.
Both Stax and Stripe offer a variety of capabilities to better serve your payment processing needs, but which one is the better fit for your business? Let’s break down the dollars and cents when it comes to Stax fees vs. Stripe fees.
What Stripe Has to Offer
Launched in 2011, Stripe offers a software platform best suited for running an internet-based business. While the company boasts billions of dollars a year in transactions, its primary focus is businesses that transact online or via mobile app.
Stripe pricing offers a pay-as-you-go model which includes a 2.9% flat rate, and a 30 cent transaction fee per swipe in their basic package. There are several other Stripe payment fees that come into play when you add various add-ons and other services. This only applies to basic transactions using a debit or credit card. If your customers choose to pay using anything else there are additional fees that could cost you. For instance, Stripe ACH fees for checks can accrue fees up to $7 per payment.
While most of their basic merchant services are similar to Stax, their additional Stripe fees make them a more expensive option. So, the question is, how much does Stripe cost per month? Below you’ll find Stax pricing vs. Stripe pricing along with some other industry competitors listed for comparison. This scenario simulates what a typical business might end up paying in processing fees in a month for each company.
| Stax | Stripe | Square | PayPal | Banks |
|---|---|---|---|---|
| $359 | $480 | $405 | $405 to $547 | $570 |
Here’s a quick summary of Stripe processing fees:
The Pros
- Quick payment processing
- Fraud and security protection tools
- Online and mobile dashboard
The Cons
- No Chargeback assistance
- Primarily email customer service
- Same day funding is NOT available
- 2.9% flat rate + 30 cents per transaction (Typically 40% more expensive than subscription-based processors)
- Additional charges and Stripe fees added
- Developer work is needed for the integration in most cases
As you can see, Stripe processing fees cost you over $120 more per month than if you processed with Stax.
The Way Payment Processing Should Be: Simple
Ranked as one of the best merchant services companies nationally, Stax is a subscription-based, integrated payment provider with total transparency built into its model. All businesses have access to direct cost payment processing with 0% markups, no contracts, and no hidden fees.
Stax treats our members like family. Whenever you call in with a question, issue, or just to chat – a real person answers the phone every time (no automated calls). This is the perk of working with a more customer-centric company.
With Stax, someone is ready to help answer the phone every time. We eat, sleep, and breathe payments – so rest easy knowing that you’re getting the kind of white-glove customer service you deserve.
Stax is Committed to Never Profiting Off Your Company’s Success
Here’s a quick summary of Stax’ processing fees and why we are the best payment solutions provider for your business:
- No contract
- 0% markup
- No hidden fees
- Quick setup
- Recurring billing
- Easy to read statements
- Live, U.S.-based customer service
- Flat monthly subscription (save up to 40% versus traditional processors)
- Next day funding for approved businesses
- POS, eCommerce, mobile, and virtual terminal solutions
- Can integrate with most already established POS systems
Each business is unique, and it pays to understand exactly what will work best for you as you explore your options. At Stax, we provide easy-to-use yet highly effective payment solutions to businesses of all sizes.
To learn more about our top-ranked merchant services and how they can help grow your business, feel free to reach out to us today. We will be happy to answer any questions you have and help you obtain the right payment processing solution for your needs.
Quick FAQs about Stax and Stripe
Q: What are the key differences between Stax and Stripe?
Stripe is primarily an online payment service that is popular for internet-based businesses, while Stax is a subscription-based, integrated payment provider. The two deliver in-person and online payment methods to both small and large companies but differ in functionality and pricing models.
Q: What is the pricing model for Stripe?
Stripe offers a pay-as-you-go model which includes a 2.9% flat rate and a 30 cent transaction fee per swipe in their basic package. Additional Stripe fees apply for various add-ons and other services. If customers opt to pay using methods other than basic debit or credit card transactions, additional fees may apply, such as Stripe ACH fees for checks which can accrue fees up to $7 per payment.
Q: What is the pricing model for Stax?
Stax adopts a subscription-style pricing structure. All businesses have access to direct cost payment processing with 0% markups, no contracts, and no hidden fees. The company is committed to never profiting off a company’s success and offers a flat monthly subscription that can save businesses up to 40% versus traditional processors.
Q: What additional services does Stax offer?
Stax offers a range of services including quick setup, recurring billing, easy-to-read statements, live, U.S.-based customer service, next-day funding for approved businesses, POS, eCommerce, mobile, and virtual terminal solutions. They can also integrate with most already established POS systems.
Q: What additional services does Stripe offer?
Stripe offers services such as quick payment processing, fraud and security protection tools, and an online and mobile dashboard. However, it lacks chargeback assistance, primarily offers email customer service, and does not provide same-day funding. Additionally, developer work may be needed for integration in most cases.
Q: Why should a business consider Stax over Stripe?
Stax offers more transparency with its subscription-based model, 0% markups, and no hidden fees. They also have live, U.S.-based customer service, whereas Stripe primarily offers email customer service. Additionally, Stax can provide next-day funding for approved businesses, a feature that Stripe does not offer.
Q: How do Stax and Stripe compare in terms of cost per month?
As per a simulated scenario, Stripe processing fees could cost a business over $120 more per month than if it processed with Stax. The cost breakdown is as follows: Stax – $359, Stripe – $480, Square – $405, PayPal – $405 to $547, Banks – $570.
Q: Can Stax integrate with my existing POS system?
Yes, Stax can integrate with most already established POS systems. This allows businesses to continue using the systems they are familiar with while benefiting from Stax’s payment processing services.
Q: Is Stax a good option for businesses of all sizes?
Yes, Stax provides easy-to-use yet highly effective payment solutions to businesses of all sizes. They offer a range of services and support to suit the needs of different businesses.
Q: Where can I find more information about Stax and Stripe’s services?
You can reach out directly to Stax or Stripe for more detailed information about their services. For unbiased reviews and comparisons, numerous online resources and platforms can provide further insights.
