CardX is based out of Chicago, Illinois, at 401 N Michigan Ave #1610, Chicago, Illinois 60611. It opened it’s doors in 2013 and does not list it’s acquiring bank on their website. Jonathan Razi is the CEO of CardX. Upon reviewing their website and business, it does not document whether it is an ISO/MSP. The biggest draw for CardX is it’s advertised zero fees (surcharge) pricing model, which is aimed towards institutions and merchants to reduce net fees for payment processing. It promotes a “zero net fee” perk.
|Swipe Rate||1% + $0.25|
|Early Termination Fee||Variable|
|Contract Terms||No Contract Required|
Upon reviewing CardX’s website, it claims that merchants keep 100% of every credit card sale, and you pay for only transactions run through a debit card. In addition to the competitive zero fees (surcharge) pricing model, their business is fully compliant with all rules and has you covered. In their pricing structure, merchant’s customers are charged a surcharge on credit card transactions. This surcharge is said to help offset the merchant’s payment processing costs. This can result in almost free credit card processing but does introduce some drawbacks.
Potential liability may include customers resenting fees added to their credit card purchases. Under legal ramifications, CardX is unable to add surcharges on debit cards. Merchants can expect to pay 1% plus $0.25 on qualified swiped debit transactions and 3.38% on commercial debit card transactions. There is also a $35 monthly fee for a countertop card reader.
With that being said, there are no red flags that pop up with this pricing structure. One key factor to note is that the standard contract length and early termination fees are unknown. With this information, this pricing structure still makes CardX competitive amongst competitors within its industry. An in-depth review of its BBB profile shows an overall positive reputation with 0 customer complaints.
CardX Pros & Cons
Great Customer Support
The pricing model isn't available in all states
Credit card processing fees
CardX Products & Services
CardX offers various products and services to help fit any business need.
Hardware & Software
- POS System: Offers a custom terminal with an EMV Quick Chip and the CardX application pre-installed.
- Online: CardX provides a Lightbox, allowing merchants’ customers to pay directly on the merchant’s website without being redirected.
- Terminal Sales: CardX offers a countertop terminal at $35 monthly with no long-term commitment or lease. The terminal can be returned at any time without paying a penalty.
Supported Payment Types / Services
- Debit and Credit Cards
CardX Advertising & Sales
Upon review of the CardX website, it appears to market its services using in-house staff. It does not provide any information regarding independent sales agents. There are no complaints or reviews that outline the use of such agents or deceptive advertising strategies. No complaints have been cited on the BBB website.
Truth in Marketing
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||Yes|
|Public Pricing Available||Yes|
CardX Pricing, Rates & Fees
CardX does list some prices on their website to use their technology and card acceptance pricing for basic businesses. It uses a zero fee (surcharge) pricing model.
For card acceptance pricing, merchants pass on the credit card fee to their customers at 3.5%. However, when the customer is billed, it shows one single line. Qualified debit transaction rates are 1% plus $.25. Commercial debit card rates are 3.38%. It also charges $35 monthly for a countertop card reader that can be returned at any time without a fee. Monthly statement fees, early termination fees, and PCI compliance fees are variable.
For education institutions and government businesses, the pricing model looks somewhat different. The institution can expect to pay $0 monthly for both the virtual terminal and lightbox for technology pricing. For card acceptance pricing, CardX outlines that the institution can pick the types of fees it pays. The service fee ranges from 0.75%-3.99% with a $1.99 minimum based on the type of card.
Pricing At A Glance
|Pricing Model||Flat Rate|
|Swiped Rate||1% + $0.25|
|Mobile Payment Rate|
|Virtual Terminal Rate||3.38%|
|Payment Gateway Fee||$0|
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||$35/mo|
|Address Verification Service (AVS)|
|Account Setup Fee||$0|
|Gateway Setup Fee||$0|
CardX Contract & Terms
The company offers the following as a standard contract:
- Contract Length: Undisclosed
- Early Termination Fee: Variable
CardX Setup & Support
CardX does not have any complaints regarding the merchant’s customer service and has zero customer complaints with the BBB. It’s customer service track record appears to be clean so far.
- Provides setup and assistance via phone and email.
- The website offers demos for regular businesses and also for educational and government institutions.
CardX Complaints, Ratings & Reviews
CardX opened a profile with the Better Business Bureau in April of 2018. It currently sports an A+ rating with the BBB and is not an accredited business. There are 0 customer reviews and 0 customer complaints, which prevents it from being scored on the website. No issues relating to advertising, sales, product, and service problems, or any complaints have been identified.
|Total Online Reviews||50+|
|Total Online Complaints||<10|