Stax by Fattmerchant is a payment solutions and technology provider for merchants and ISVs and has seen tremendous growth for the past 6 years due to their unique positioning.
For the past year they have been working with NMI on further enhancing their offerings for their large merchant portfolio by unifying multiple points of commerce.
Since their founding six years ago, Stax brought on board many merchants and ISVs. They were looking for a trusted integration partner to support their growing merchant portfolio with streamlined onboarding and an easy to integrate technology stack to manage both online and in-store transactions.
“A part of the challenge (of picking the right partner),” said Jacques Fu, CTO and co-founder of Stax by Fattmerchant, "was that a lot of technology that’s out there works great on a merchant level but doesn’t necessarily allow for a large portfolio of different businesses.”
"A lot of technology that’s out there works great on a merchant level but doesn’t necessarily allow for a large portfolio of different businesses."
How NMI Helped
Stax evaluated potential partners by several criteria and NMI met each one of these requirements. NMI is the trusted partner who provides a modularized omnichannel solution, which is robust and scalable, with a large number of pre-existing shopping cart integrations and EMV certified hardware for in-store transactions.
Stax was excited to take advantage of the streamlined merchant onboarding, as well as the ease of managing their merchant accounts and transaction visibility to reduce support time and improve merchant satisfaction and loyalty.
The integration with NMI took about a week and was very straightforward. It gave them the ability to manage many different configurations with a lot more control and handle a large portfolio of merchants. And the benefits are demonstrated by 100-300% monthly increase of new merchants while keeping attrition at 0 on the NMI gateway over the last 12 months following the integration.
“Increasing the number of integrated shopping carts in the ecommerce space turned out to be a real differentiator for us,” said Jacques. For their ISV partners they were able to incorporate the modules into the infrastructure so it gave them more options and ultimately helped their development teams.
As a result of a streamlined onboarding, they saw a reduction in the onboarding times that went from 72 business hours to less than 24, which has ultimately contributed to their low attrition number. “Overall the internal operations are extremely happy,’’ said Jacques, “and for our internal team to call out a solution that we’re using as something that they love and love working with on the day-to-day basis – it’s a huge win.”
NMI is a leading global full commerce enablement platform, processing more than $195 billion in payments annually. We enable payments for over 3,300 partners and over 267,000 merchants around the world and across the entire commerce ecosystem: online, in-app, mobile, in-store, unattended and whatever’s next. We’re constantly innovating in order to power the next era of payments, building in the latest technology so ISVs, ISOs, Banks and Fintech Innovators can focus on what they do best. NMI has offices in the US and UK and serves global customers.
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