PayBlox

What is PayBlox

PayBlox is an online marketplace designed to simplify the process of finding a merchant account for businesses. Its main purpose is to connect business owners with various payment processors who then compete to offer the best rates and services. Instead of the business owner searching and applying to multiple providers one by one, PayBlox allows them to submit their information once and receive several offers. The platform is built for all types of businesses, including low-risk, high-risk, retail (brick-and-mortar), and e-commerce companies. Created by a team with long experience in the payments industry, PayBlox aims to bring transparency and efficiency to the selection of credit card processing solutions.

PayBlox Features

PayBlox offers several features to help businesses find the right payment processor:

• Competitive Marketplace: The core of the service is its marketplace model. Payment processors bid against each other for your business, which helps drive down costs and improve terms.
• One-Stop Application: You only need to fill out one simple form with your business details. PayBlox then shares this with multiple relevant providers, saving you time and effort.
• Support for All Business Types: The platform serves a wide range of industries. It can find solutions for standard retail stores as well as for businesses considered high-risk, which often struggle to find processors.
• Transparent Process: PayBlox states that it does not accept paid placements. This means the offers you see are based on what processors think is a good fit for your business, not on who paid more to be featured.
• Merchant Rebate Program: A unique feature is the rebate program. The company gives back 10% of its monthly net revenue to its members, creating a community benefit.
• Fast Offer Turnaround: Businesses can expect to receive multiple offers within 24 hours of submitting their information.
• No Initial Documents Needed: You can get initial quotes and see your potential rates without needing to upload any documents, making the first step very quick.

PayBlox Pricing Plans

PayBlox is a completely free service for businesses. There are no tiers, subscription fees, or hidden charges for using the marketplace to find a merchant account. The company's business model is based on earning a commission from the payment processor that a business ultimately chooses. This means the cost is on the providers, not the business owner looking for a service.

PayBlox Free Plan

The entire PayBlox platform functions as a free plan. There is no premium version or paid upgrade for businesses. All features, including access to the marketplace, receiving multiple offers, and eligibility for the merchant rebate program, are available to every user at no cost.

How to use PayBlox

Getting started with PayBlox is a straightforward process:

1. Provide Business Information: Go to the PayBlox website and fill out the online form. You will need to provide basic details about your business, such as industry, estimated monthly processing volume, and whether you operate online, in-person, or both.
2. Submit Your Request: After entering your information, submit the form. PayBlox then sends your details to its network of payment processors.
3. Receive and Compare Offers: Within 24 hours, you will start receiving competitive offers directly from processors. These offers will detail the proposed rates, fees, and contract terms.
4. Review and Choose: Carefully compare the different offers. Look at the processing rates, monthly fees, equipment costs, and customer support options.
5. Select a Processor: Once you have decided on the best offer for your business, you can proceed with that processor to finalize the setup of your new merchant account.

Pros and Cons of PayBlox

Pros:

• It is completely free for businesses to use.
• Saves significant time by eliminating the need to research and contact multiple processors individually.
• The competitive nature of the marketplace can lead to lower rates and better terms.
• Supports high-risk businesses, which have fewer options elsewhere.
• The merchant rebate program offers a unique financial benefit.
• Transparent model with no paid placements for processors.

Cons:

• You are dealing with a middleman, which some business owners may not prefer.
• The quality and support level of the bidding processors can vary.
• The final offer from a processor may change if the initial information provided was not completely accurate.
• Less direct control over which specific processors you receive offers from.

PayBlox integrations

PayBlox itself does not directly integrate with other software, as it is a marketplace that connects businesses with service providers. However, the merchant account providers that you find through PayBlox offer a wide range of integrations. These processors typically provide solutions that connect with popular platforms such as:

• E-commerce Platforms: Shopify, WooCommerce, BigCommerce, Magento.
• Point of Sale (POS) Systems: Clover, Square, Lightspeed.
• Accounting Software: QuickBooks, Xero.
• Payment Gateways: Authorize.Net, Stripe Gateway.

When you receive offers, you should check with the specific processor about their available integrations to ensure they support the tools your business already uses.

PayBlox Alternatives

1. CardFellow: A direct competitor with a similar marketplace model. CardFellow also lets processors bid for your business and is known for its focus on transparency and providing lifetime rate locks. It is a strong alternative for comparing merchant account offers.
2. Payment Depot: This is a direct merchant account provider, not a marketplace. It operates on a membership model, where you pay a monthly fee to get access to direct interchange-plus pricing. This can be very cost-effective for businesses with high processing volumes.
3. Stax by Fattmerchant: Similar to Payment Depot, Stax uses a subscription-based pricing model. It offers direct interchange rates for a flat monthly fee, which can be more predictable than percentage-based markups. It is a good choice for businesses seeking simple, transparent pricing.
4. National Processing: A traditional merchant services provider that offers competitive rates for various business types, including high-risk industries. Unlike a marketplace, you deal directly with them from the start.

PayBlox API

PayBlox does not offer a public API for developers. The service is designed as a web-based platform for business owners to connect with payment processors. There is no documentation available for API access, as its functionality is not intended for integration into third-party applications.

PayBlox Affiliate program

There is no information publicly available regarding an official affiliate or referral program for PayBlox. Businesses or individuals interested in partnership opportunities are advised to contact the PayBlox support team directly through their website to inquire about any potential partner programs or collaboration possibilities.