Overview
MX Merchant is a cloud-based payment processing platform operated by Priority Payment Systems, LLC, a wholly owned subsidiary of Priority Technology Holdings, Inc. (NASDAQ: PRTH). Priority was founded in 2005 and is headquartered in Alpharetta, Georgia. The MX Merchant suite gives merchants a dashboard for card-present and card-not-present processing, recurring billing, invoicing, and reporting, and is distributed to merchants through Priority's network of independent sales organizations, financial institutions, and software partners.
Product Suite
The MX product line includes MX Merchant (the core processing dashboard), MX Connect (a partner-facing merchant boarding tool), and additional modules such as MX Insights for reporting, MX Storefront for online payments, MX Retail for point-of-sale, MX Invoice for invoicing and recurring billing, and MX B2B for level II and level III enhanced data processing on business and government cards. Priority Payment Systems is a registered ISO and MSP of Wells Fargo Bank N.A., Synovus Bank, Axiom Bank N.A., and PB&T Bank.
Pricing
Processing Rates
MX Merchant accounts are typically sold on an interchange-plus pricing model, where the merchant pays the underlying card-network interchange fee plus a markup negotiated with the reseller or ISO that boards the account. Because accounts are sold through a partner network, the specific markup, monthly fees, and any per-transaction fees vary by reseller and are set in the merchant agreement rather than published on the MX Merchant website. Priority markets the program as having no long-term contracts and no early termination or account closure fees, though merchants should confirm those terms in their own signed agreement.
Software Add-Ons
On top of the underlying card processing costs, the MX Merchant dashboard charges separate monthly fees for certain software modules. Reports from user reviews and expert content indicate that the invoicing and recurring billing module is offered at roughly ten dollars per month, and the MX B2B module for enhanced-data processing is offered at roughly twenty dollars per month. Hardware, gateway, PCI compliance, statement, and chargeback fees may also apply depending on the reseller agreement.
Reported Merchant Experience
User reviews and expert content report that merchants who switch to MX Merchant from flat-rate processors often see lower effective rates on qualifying transactions, while some merchants report that statements can be difficult to interpret and that updates to deposit account information have been slow to take effect. Because pricing is reseller-specific, merchants should obtain a written rate quote and a sample statement before signing.
Contact
Ownership/Leadership: Thomas C. Priore, Executive Chairman and Chief Executive Officer of Priority Technology Holdings, Inc.
Address: 2001 Westside Parkway, Suite 200, Alpharetta, GA 30004
Phone: (844) 647-3616
Website:mxmerchant.com
Merchant Reports
Write a review →So far MX Merchant has lived up to my expectations.