Stax Payments snaps up BlockChyp for undisclosed sum
Stax Payments has acquired Utah-based payments processor BlockChyp for an undisclosed sum in the latest addition to its growing technology stack.
Stax lands deal for BlockChyp
Founded in 2018, BlockChyp’s payments management platform features “simplified APIs and streamlined customer onboarding experiences”, according to Stax.
In addition, BlockChyp’s technology suite includes a triple encryption system based on blockchain cryptography, secure gift cards, and a customisable payment processing framework.
The buyer states that this acquisition will provide “further differentiation” to its solutions, helping to “reduce friction and deliver an enhanced experience for Stax partners and customers”.
Headquartered in Orlando, Florida, Stax offers a variety of integrated payment solutions, including payment processing and recurring billing services for software companies, resellers and SMEs.
Since its founding in 2014, the company claims to have processed more than $30 billion in payments and served over 30,000 businesses throughout the US and Canada.
The acquisition of BlockChyp is the latest in a series of strategic moves by Stax, including the deals for CardX, Fusebill and Payment Depot, as well as Las Vegas-based payment solutions provider Atlantic-Pacific Processing Systems in October 2023.
