Best for
Standard or low-risk businesses seeking zero-fee credit card processing services.
Specializes in
Axe Payments specializes in zero-fee credit card processing for a variety of different low to standard risk business types.
Pricing Summary
Setup Fee: Undisclosed
Monthly Fee: Undisclosed
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : Variable
Contract Terms:
Axe Payments is a merchant account provider boasting zero-fee credit card processing. As is typical for zero-fee credit card processors, a convenience fee is charged to the customer to cover the costs of the processing.
The POS system that is available from Axe Payments will automatically give customers a 4% discount for using cash or check rather than a card.
Axe Payments has served over 20,000 different businesses ranging from retail, restaurant, entertainment, property management, and more.
Axe Payments is currently headquartered in Nashville, Tennessee.
Axe Payments is a relatively new merchant account provider with a zero-fee business model. With the zero-fee model, Axe Payments claims to save the average business up to 3% or $15,000 a year.
The business saves so much money bypassing the costs of credit card processing onto their customers in the form of a 4% convenience charge for using credit or debit cards. Businesses can offer a cash discount program to their customers so they can avoid the 4% markup.
The zero-fee model can result in credit card processing that is essentially free for the business. This can save businesses a lot of money.
However, it also discourages customers from using credit cards which could reduce sales volume depending on the business model. This may not be a great fit for online businesses where customers cannot readily pay with cash.
Axe Payments claims they have worked with over 20,000 businesses. They offer terminal processing, POS systems, virtual terminals, and payment gateways.
Axe Payments has a very low amount of customer complaints and offers a very affordable merchant account service.
Head Quarters
Lynchburg, Virginia
Year Founded
2018
CEO
Sam Avello
Employees
10
Merchant Provider Risk Tolerance
Hardware and Software
Axe Payments processes credit and debit cards as well as check and gift cards. They offer their own POS system or can integrate with a pre-existing system.
They also offer terminal processing or a virtual terminal.
Value-Added Services
The Axe Payments POS systems comes with features like advanced analytics and reporting. It also includes advanced fraud protection and automated response to charge disputes. This will have the effect of reducing chargebacks.
The POS software automatically incorporates a cash discount to a business’ customers that takes off the 4% upcharge for using credit or debit cards.
Supported Payment Types and Services
Axe Payments processes all major credit and debit cards and checks, including:
Visa
Mastercard
Discover
American Express
The company does charge a 4% convenience fee to the business’ customers when they use a credit card. This 4% fee is waived for customers using cash or check.
Axe Payments can also process online and mobile app payments.
Discloses All Important Terms
No
Public Pricing Available
No
Axe Payments boasts zero-fee credit card processing.
Their swiped and keyed-in rates vary from 1%-4.99%.
To cover the cost of credit card processing, the business’ customers are charged a 4% convenience fee.
There is a $5 monthly fee in addition to the processing fees and the convenience charge.
There is no other information on fees readily available on the website.
Pricing Model
Tiered Pricing
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Undisclosed
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
Variable
PCI Compliance Fee
Variable
Equipment Lease Terms
Variable
Address Verification Service (AVS)
Application Fee
Account Setup Fee
Undisclosed
Gateway Setup Fee
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
$5
Axe Payments offers a zero-fee card processing service with no contracts. An account also comes with a free terminal.
Contract Length
Variable
Early Termination Fee
Variable
Axe Payments offers 24/7 support to businesses that use their POS system or other physical equipment.
They have a phone number, email address, and contact form easily accessible on the website. Their business hours are listed as 9-5.
An application form is available on their website, making applying for an account very simple.
BBB Rating
There is no account for Axe Payments on Better Business Bureau, and no reviews or complaints.
Other Online Reviews
There are very few reviews of Axe Payments, despite them boasting of having worked with over 20,000 different businesses.
They have a rating of 4.5 out of 5 on Glassdoor.
BBB
Does not have BBB profile.
No Reviews
5 Stars. Based on the opinion of 2 people
Yelp
N/A
Total Online Reviews
10+
Total Online Complaints
Lawsuits
None
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks