BlockChyp

BlockChyp provides a payment processing platform primarily for independent software vendors (ISVs) and small to medium-sized businesses, with a focus on retail verticals like grocery stores, hardware stores, and specialty shops. The company's business model is centered on offering a semi-integrated payment system that allows third-party software, such as point-of-sale (POS) systems, to easily connect with card-present payment terminals. This is designed to significantly reduce integration time for software partners from months to a couple of days and merchant setup time from hours to under five minutes. Revenue is generated through payment processing fees, with a stated commitment to transparent pricing and statements without hidden charges.

Founded in 2018 by CEO Jon Decker and CTO Jeffrey Payne, the company emerged from their shared frustration with the payment industry's outdated technology and opaque business practices while working together at a point-of-sale software company. Leveraging their backgrounds as SaaS and POS engineers, they built the BlockChyp platform from the ground up. The venture began to take shape after a meeting in Miami, leading to a year of development before the first terminal went live in April 2019 at a pet store in California. A key milestone was achieved when the company was ranked as the 63rd largest payment processor in the U.S. by the Nilson Report in 2023. In a significant development, BlockChyp was acquired by Stax Payments on October 1, 2024, with Decker joining the Stax executive team.

The platform is engineered for developers, providing SDKs and REST APIs to interact with hardware, making the integration process similar to using a web service. BlockChyp's terminals support a comprehensive range of payment methods, including EMV chip and PIN, contactless (NFC), mobile payments, and traditional magnetic stripes for all major US card brands. The system also handles EBT, HSA, and FSA cards, and supports Level 2 and 3 processing. A distinct feature is its omnichannel capability, which allows payment methods tokenized on a physical terminal to be used for recurring online transactions without bringing the merchant into PCI scope. The company also offers advanced developer tools, including unlimited test accounts and specialized test cards for simulating various transaction scenarios.

Keywords: payment processing, integrated payments, point-of-sale integration, developer API, semi-integrated payments, merchant services, payment gateway, omnichannel payments, retail payment solutions, POS software, card-present transactions, payment terminals, EBT processing, payment tokenization, fintech, Stax Payments, Jon Decker, Jeffrey Payne, payment technology