Best for
It's appropriate for small and medium sized businesses in the B2B, government, and education sectors.
Specializes in
CardX specializes in online payment integration through customer's websites, virtual terminals, and customized POS terminals.
Pricing Summary
Setup Fee: $0
Monthly Fee: $0
Swipe Rate: 1% + $0.25
Keyed-in Rate: 3.38%
Early Termination Fee : Variable
Contract Terms:
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.
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.
Head Quarters
Chicago, IL
Year Founded
2013
CEO
Jonathan Razi
Employees
50
Merchant Provider Risk Tolerance
Zero setup fee.
No monthly fee.
No contract required.
Low monthly equipment lease amount.
Domestic telephone support during normal business hours.
Variable early termination fee.
The pricing model is not available in all states.
Charges credit card processing fees to customers.
Standard contract length is unknown.
PCI compliance fee varies.
CardX offers various products and services to help fit any business need.
Hardware & Software
Value-Added Services
Supported Payment Types / Services
Discloses All Important Terms
Yes
Public Pricing Available
Yes
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 Model
Flat Rate
Swiped Rate
1% + $0.25
Keyed-in Rate
3.38%
Mobile Payment Rate
Virtual Terminal Rate
3.38%
Monthly Fee
$0
Payment Gateway Fee
$0
Batch Fee
$0
Early Termination Fee
Variable
PCI Compliance Fee
Variable
Equipment Lease Terms
$35/mo
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
$0
Annual Fee
$0
Monthly Minimum
$0
Statement Fee
$0
The company offers the following as a standard contract:
Contract Length
No Contract Required
Early Termination Fee
Variable
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.
BBB
A+(0 complaints)
N/A
N/A
Yelp
N/A
Total Online Reviews
50+
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