Established in 1998, PayPal has become synonymous with digital payments.. In just over two decades, the company has become integral to payment transfers and online transactions all over the world. This also includes a heavy focus on payment processing services, where the company offers its solutions to retailers and businesses across various sectors.
PayPal offers a variety of other payment processing solutions through several of its subsidiaries.
Through Venmo, it delivers quick and painless mobile payment transfers to individuals.
Via Xoom, it offers a highly accessible way of sending international remittances across the world, and with Honey, it integrates discount coupon offerings to boost retail transactions.
This ease of use also applies to several other divisions that PayPal operates under its brand.
PayPal’s solutions include almost everything you need for credit card and debit card processing when it comes to merchant services. The company covers a holistic set of payment services to support your payment needs, from hardware to software.
Due to PayPal’s overall brand recognition and its expansive network, going with the company’s solutions seems like an excellent choice for many corporations and businesses. This especially holds for small businesses, which find PayPal’s easy integration and swift setup as massive advantages for their operations.
However, even with the air of accessibility around them, PayPal’s services often come at a higher price point than many other specialized merchant services providers such as Stax.
To see how PayPal’s services hold up against the Stax platform, here’s a detailed comparison of both companies and their offered solutions.
Where Do PayPal Merchant Services Stand In Comparison to Stax?
Under the banner of PayPal Commerce, PayPal’s merchant services are distributed across different divisions. This allows you to pick and choose the solutions that you need for an ideal payment support infrastructure.
With this in mind, it’s essential to give these categories a closer look to determine how they fare against Stax.
Point of Sale Terminals
A point of sale (POS) device or setup is essential for accepting credit card and debit card payments at your business. In the form of countertop devices and handheld equipment, these solutions allow you to swipe or read payment cards to process required transactions.
Unlike many other merchant services, PayPal doesn’t directly provide traditional point of sale (POS) equipment to its clients. If you sign-up with PayPal, you need to choose your POS equipment through one of its brand partners. These include but are not limited to Vend, Lavu, Talech, and Brightpearl.
Some of these POS vendors specialize in specific categories. For instance, Lavu is more focused on the restaurant industry, while Brightpearl excels in retail settings. This gives you specified options to select a vendor that’s suitable for your sector.
But this also makes the process a bit more complicated. While setting up the equipment with your PayPal account is quick and easy, finding the right POS device across different vendors can be a little stressful. This makes PayPal merchant services set up a bit more complex to handle than it should be in the first place.
Apart from the POS equipment setup’s differing costs, you also need to pay a fee of 2.9% + $0.30 per transaction. This fee is lowered down to 2.2% + $0.30 per transaction for charities, but it otherwise stays the same for businesses.
In comparison, Stax provides you with an easier selection process for your POS equipment. Whether you are selecting an all-in-one solution or a wireless device, you can easily compare and choose between readily available hardware in one place. This provides you with the utmost flexibility while ensuring that you can make your selection in a stress-free way.
The overall transaction fee structure for Stax also comes at a lower price point. This lets you use highly secure and easy-to-use POS solutions at affordable prices.
Card Readers to Take Wireless Payments
While PayPal doesn’t offer traditional POS equipment under its own branding, it does provide card readers by the name of PayPal Here.
These card readers are available on various devices and allow you to accept magnetic stripe and EMV chip payment cards. Some of the models also will enable you to accept tap-to-pay transactions through Apple Pay, Samsung Pay, and Google Pay.
These PayPal Here models include:
- Chip and Swipe Reader
- Chip and Tap Reader
- Chip and Tap Bundle
- Chip Card Reader
- Mobile Card Reader
While the chip, swipe, and tap readers allow you to accept payments as wireless POS equipment, the mobile card reader attaches to your smartphone to power itself and process payments.
These card readers each come with a one-time upfront fee before you are able to use them. They also charge you a certain fee per transaction for accepting payments. The initial one-time charges depend upon the equipment. Whereas, the transaction fee stands at 2.7% for swiping a card, or 3.5% + $0.15 for keying-in or scanning transactions.
In comparison, the Stax range of POS equipment also includes wireless POS devices. By using this equipment, you can accept credit card and debit card payments anywhere you want. These devices can also be paired with your phone to accept payments in a convenient and budget-friendly way.
Stax’ solutions also come at more affordable prices, whether you are swiping the card or entering the transaction manually. This allows you to generate more profits through your overall business.
Online Payment Gateway to Accept Payments Over the Web
If your business is based online or provides both on-premises and remote solutions, you can benefit from online payments. PayPal’s online payment gateway helps you accept PayPal and credit card and debit card payments across your website, through an invoice, and recurring transactions.
These payments are powered by highly secure mechanisms that keep your clients’ financial data safe. At the same time, they remain quite easy to set up and use for your employees and clients alike. Whether a client is completing their shopping cart checkout or an employee is sending an invoice, the process remains as simple as possible and lets you accept payments without any complicated procedures to boot.
PayPal’s online payment gateway can be integrated into eCommerce websites and also used as a standalone payment tool. Either way, it helps you accept your payments over the web. The fees for sales within the U.S. remain 2.9% per transaction + a fixed fee depending upon the currency. Whereas, the charges for sales from international clients stand at 4.4% per transaction + fixed fee depending on transaction currency.
When you compare these services with Stax’ online payment gateway, it becomes clear that the same level of solutions and functionality is delivered at far more affordable prices. This brings a certain distinction to Stax’ specialized solutions, especially for businesses and professionals who are looking for pocket-friendly yet secure payment solutions.
Virtual Terminal to Process Transactions Manually
If your business offers its services remotely or performs delivery through phone orders, a virtual terminal stands apart as one of the best ways to accept payments. This specialized software allows you to process transactions through card details instead of physically swiping or scanning the card. PayPal’s virtual terminal carries the same functionality.
PayPal’s virtual terminal accepts all major credit cards and debit cards, which gives you extensive accessibility to process your clients’ payments over the phone. The company ensures that it uses the latest security mechanisms to complete these payments. It also makes the terminal accessible through any browser, which allows you to use the solution from any computer, tablet, or phone.
PayPal’s virtual terminal follows the charges of 2.9% + $0.30 per transaction for payments within the U.S., and 4.4% + fixed fee depending on currency for international payments. This lets you understand exactly what to expect in terms of payment fees and plan your transactions through your virtual terminal. The services also come with a $30 monthly fee.
As compared to these charges, the Stax Platform comes at a lower price point but still offers you the same level of security and ease of use. This makes Stax a better solution if you want to focus on overall costs and pricing.
PayPal is Popular, But Stax is More Affordable
With its massive outreach, PayPal’s popularity remains unmatched by almost every other merchant services provider. Its overall pricing structure is also more transparent than many other counterparts. With that being said, it still lags behind Stax in terms of offering affordable solutions.
If you are looking for a next-generation payment solution that doesn’t weigh down your bank account, researching what is offered by Stax will not disappoint. With the option to select the best solutions that fit your needs, you will get the most out of your choice in payment solution provider.
The Stax Difference
Stax is a payment technology and solutions provider with an all-in-one payments platform and subscription-based pricing. Businesses appreciate Stax because it enables clients to directly connect to interchange costs in transactions for a simple monthly subscription cost.
Stax prides itself on zero hidden fees, zero markups, and full transparent services. But merchants also appreciate the fact that Stax provides data and analysis provisions through their Stax platform.
The all-in-one platform is a game-changer for Stax members because they can access information, make decisions, and improve their business in one hub. Merchant representatives must deal with a wide variety of tasks and simplify parts of the business value chain that can increase the business’s value over time.
From PCI compliance at no extra cost to statements or seamless switching to different providers, you can find why the Stax Platform appeals to merchants’ broad base today.
But Stax has much more to offer to merchants today.
These critical Stax features include:
- Zero contracts. You can cancel and switch whenever you want
- Real-time data visualization
- Legitimate Customer service to answer any questions you may have
- More than 200 software integrations
- Quickbooks integrations
- PCI compliance assistance at no additional cost
- Next day funding for specific criteria meeting businesses
- A broad base of POS integrations
Businesses appreciate the simplicity of Stax and all-around straightforward processing in pricing and business data visualization. The Stax platform, customer service, and transparency genuinely make a difference in the business.
Learn more about Stax’ payment processing and what it has to offer your business today. You may realize substantial savings, gain more business insights, create more value, and grow your business while handling your costs. We are pleased to field your questions and help you improve your business operations today.
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.