Stax Payments appoints Mark Sundt as Chief Technology Officer

Sundt brings more than 30 years of digital payments and fintech knowledge to the company
BusinessWireFebruary 20, 20244 min

Stax Payments, a leading payment technology provider, has appointed Mark Sundt as Chief Technology Officer. As CTO, Sundt will accelerate the delivery of new products, features, and functionality that unlock and drive increased value for Stax customers and partners.

Sundt brings more than 30 years of expertise as a technology leader to his new role, with a deep background in payments and transforming businesses with groundbreaking technology solutions. Early in his career, he worked at Microsoft, advancing in technical and leadership roles over 17 years. As CTO of Clearent by Xplor, he helped grow its transaction processing from $2 billion to over $20 billion annually.

Most recently, Sundt worked at IBM helping financial service customers build roadmaps for adopting Large Language Models (LLMs) and generative AI through his Design Thinking workshops. He plans to bring his expertise to Stax customers, helping them leverage generative AI to enhance user experience while implementing the newest technologies such as conversational AI.

“What really drew me to Stax was its mission to enable businesses to scale and grow through the power of embedded payments, and upholding this value will be a key part of my role,” said Sundt. “I look forward to my journey at Stax, simplifying complex problems with great people as we delight our customers with solutions that deliver that fastest path to revenue with embedded payments.

Sundt will assume responsibility for all technology and engineering operations at Stax. One of his priorities will be to use generative AI to transform internal productivity and the depth at which Stax will be able to interact with its customers and partners.

“Mark’s proven track record of driving technological advancements aligns perfectly with Stax’s commitment to innovation,” said Paulette Rowe, CEO at Stax. “With Mark on board, we will further our payment capabilities and achieve new successes in the evolving tech landscape while simplifying and enhancing our customers’ payments journey.”

These leadership changes follow a number of new executives joining Stax’s team, including Rowe as CEO, as well as Stax’s acquisition of Atlantic-Pacific Processing Systems.

Sundt succeeds Chris Staymates, who will return to his role as Stax’s Chief Innovation Officer and continue as an Executive Leadership Team member. He will be responsible for the development and deployment of new products that help partners and merchants deliver a more frictionless and engaging payment experience.

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