Stax, an all-in-one payment technology provider, has acquired CardX, an automated surcharging platform. This is Stax’s third acquisition in 2021 which compounds onto its existing 996 percent growth rate over the past 3 years.
The deal will allow Stax to offer its merchant customers an easy way to accept credit cards at 0 percent cost. The business combination will avoid the compliance risks and operational headaches that merchants deal with, in connection with surcharging.
The acquisition will add CardX’s 2,600 active customers that represent $1 billion in processing volume to Stax’s network of 22,000 business and $23 billion in transactions across the globe. CardX will operate as a stand alone brand alongside that Stax platform.
“As surcharging becomes the market norm in the U.S., it’s important that merchants choose a partner that enables them to succeed across compliance, ease of use and the cardholder experience,” said Jonathan Razi, CEO of CardX.