Stax Payments Leads The Way In Payment Technology
10 Tech Leaders: Stax Payments
About half of Stax’s workforce makes its home in Orlando.
Photos courtesy Stax
With the swipe or tap of your bank card, your purchase is complete. As far as you’re concerned. But that swipe or tap sets off an astonishing process that operates at the speed of light, ensuring the merchant collects payment, your account is credited and every party receives detailed proof of the transaction.
That computing genius must come from somewhere, and that somewhere is the world of fintech—the companies that work behind the scenes to make everyone’s lives easier as more businesses embrace moving money electronically.
Orlando-based Stax Payments has been described as a disrupter in the fintech industry since its formation in 2014, when it was founded by Sal Rehmetullah and Suneera Madhani.
The payments technology company employs more than 300 people nationwide, about half of whom work in Orlando, who partner with software companies, sales organizations and small- and medium-sized businesses to create vertically tailored payment processing and recurring billing solutions.
“We help power commerce. We are part of the infrastructure,” says chief marketing officer Jenn Reichenbacher.
Stax is a force in the fintech industry. The company is led by CEO Paulette Rowe.
About $30 billion in transactions have been processed by Stax systems through more than 30,000 businesses and software platforms in its first 10 years.
“We work with small businesses to enable payment acceptance; we work with software developers to embed payments into their business solutions with a primary focus on field services, healthcare and professional services, and we have a robust billing and recurring payments solution,” she explains.
From the start, Stax intended to be a high-value innovator and it did so with a user interface that is easy to navigate, and which provides incremental functionality that helps small businesses drive incremental efficiencies and growth, she says.
Headed up by CEO Paulette Rowe, who joined the company in August 2023, Stax is continuing to grow through acquisitions, such as its purchase of Atlantic-Pacific Processing Systems, and the payment technology solutions that will make Stax an end-to-end payment processor.
“As Stax enters its second decade, we are proud to be one of Orlando’s most successful fintech companies,” Rowe says.
“We have been able to pull from a wide variety of local talent, from software to hospitality. It is this diversity that has helped to take Stax from a start-up to the unicorn disruptor it is today,” she adds.
