Payment Depot Review
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. 
- Date Established
- 2013
- Location
- Orange, CA
Pros
- Transparent membership pricing
- True month-to-month billing
- No application or setup fees
- Free gateway & virtual terminal
- Next-day funding available
- Good customer support
- Very few public complaints
Cons
- US-based merchants only
- Not suited for high-risk merchants
Overview
If you like shopping at wholesalers like Costco, you’ll love Payment Depot‘s membership fee pricing.
Unlike most payment processors that charge you highly marked-up percentages on your sales, a Payment Depot membership has no percentage-based markups whatsoever. Aside from the wholesale costs that go to the credit card networks and banks (not to Payment Depot), you just pay a fixed, predictable monthly fee for access to the credit card processing networks alongside a small $0.05 – $0.15 fee on each transaction. No more haggling about rates with salespeople or worrying that you’re not getting the lowest rates possible. Your membership fee covers it. Processing rates simply don’t get lower than the wholesale interchange and assessments fees.
Aside from the value provided, Payment Depot’s reputation for open, honest sales practices and excellent customer support put it ahead of many of its competitors using this relatively new pricing model.
So, how does it work? Most providers offering interchange-plus pricing will charge “interchange + markup” rates, with the markup including both a small percentage of the sale and a per-transaction fee. You’ll also incur several monthly and annual fees for individual services, such as PCI compliance and account statements. In contrast, Payment Depot’s model combines all your monthly fees into a single monthly membership ranging from $49 to $199 per month, depending on which plan you choose. You’ll also pay lower processing rates, with the elimination of the percentage markup. Your rates will be the interchange rate, plus a per-transaction fee that varies between $0.15 and $0.05 per transaction, depending on your pricing plan.
Will this kind of pricing save you money? As usual, it depends on several factors. You’ll be paying Payment Depot’s membership fee every month whether you use your account or not, so it doesn’t make sense for seasonal merchants or businesses that only occasionally process credit card transactions. For a very small business, the membership fee alone might exceed what you’d pay for processing under a more conventional pricing plan. Larger businesses, however, will in most cases see significant savings over traditional interchange-plus pricing with Payment Depot.
That membership fee doesn’t just cover your run-of-the-mill account fees, however. It also includes an extra amount designed to partially make up for the lack of a percentage markup on your transactions. You’ll have to take a close look at your average ticket size and how many transactions you typically process each month to determine if this pricing model will save you money. Merchants who frequently process larger tickets will save the most money.
Payment Depot uses First Data and TSYS Merchant Solutions as backend processors, which means you’ll have access to the powerful equipment and services of one of these larger companies. You’ll also get much lower processing rates than you would usually obtain by signing up with First Data or TSYS directly, especially for smaller businesses that don’t have much negotiating power when dealing with the larger processors. Customer service for your account is also handled directly by Payment Depot, which will in most cases mean you’ll have a much more pleasant and personal experience if you need to call for help.
Payment Depot accounts are month-to-month, but you can also save money on your membership fees by paying them annually instead of monthly. Annual memberships are protected with a 90-day satisfaction guarantee, so merchants who are not satisfied with their service within the first 90 days will be refunded their membership fees (not interchange fees or transaction fees, of course). This is a fair, reasonable offer, and should give you some peace of mind.
Overall, we’re sufficiently impressed with Payment Depot to award them a perfect 5 out of 5 stars. The simple, affordable pricing structure is a breath of fresh air in an industry that too often features confusing rates, hidden fees, and poor customer service. Most mid- to large-sized businesses should be able to save a significant amount of money over going with a more traditional processor. There are a few caveats, however. Payment Depot is only available in the United States, so international users won’t be able to take advantage of what they have to offer. The company also doesn’t approve high-risk merchant accounts, so if you’re in this category, you’ll have to look elsewhere. Our article, The Best High-Risk Merchant Account Providers, is a good place to start.
Or Call Now: 877-978-3539
Table of Contents
Products & Services
Payment Depot has all the bases covered when it comes to features your business will need to accept credit cards. Here’s an overview of their primary offerings:
- Merchant Accounts: Payment Depot is not a direct processor. Rather, they partner with First Data and TSYS – two of the largest credit card processors in the country – to provide processing services. Payment Depot will set up and manage your account, but you may need to deal directly with your backend processor on occasion. Unless you’re using the Clover POS line (which requires a First Data account), you’ll most likely be placed on the TSYS platform.
- Payment Gateway: For ecommerce merchants, Payment Depot can integrate a payment gateway into your website. Authorize.Net (see our review) is the most popular option, but other gateways are also available. Gateway fees appear to be included as part of your monthly membership fee, but you’ll want to confirm this when you review your agreement.
- Virtual Terminal: All of Payment Depot’s pricing plans include a free virtual terminal that allows you to use your existing computer as a credit card terminal. You can key in transactions or swipe them using an optional USB-connected card reader.
- Point-Of-Sale (POS) Systems: As a First Data reseller, Payment Depot offers this processor’s popular line of Clover POS systems (read our review). Prices for this equipment are a welcome addition to the website since our last update.
- Credit Card Terminals: Payment Depot promotes the Verifone Vx520 terminal, which supports chip card transactions as well as NFC-based payment methods such as Apple Pay and Android Pay. You can buy your terminal outright for $299, while a terminal is included for free at higher membership levels. You could probably grab the Vx520 for less than $300 if you shop around online, but buying directly from Payment Depot means your equipment is covered by a full warranty for as long as you keep your account open. If you already have a compatible terminal, Payment Depot can reprogram it for free. The company also lists several other models that are available for direct sale on their website, including the First Data FD130 and the Poynt Smart Terminal, among others.
- Mobile Payments: Although not currently promoted on the website, Payment Depot has partnered with Swipe Simple to offer its mobile app and card readers. The app is available for both iOS and Android and works on both smartphones and tablets. Check out our Payment Depot Mobile review for more information about the app, as well as exclusive rates for Merchant Maverick readers.
- Next-Day Funding: Technically this is available, because as long as you batch out by 5 PM Central time, you will receive funds the next day. This can be problematic for west coast businesses, however, so Payment Depot’s funding is also described on the site as “24-48 hour funding.” Regardless, once you establish your own daily batch schedule, you will receive deposits daily.
Payment Depot also offers eCheck (ACH) processing, online shopping cart integration, and developer tools for web designers. They don’t disclose much information about these products on their website, so ask your sales representative about them if you’ll need them for your business.
The company earns an “excellent” rating for this category. While most of their products and services are provided through third-party partnerships, the quality of what they have to offer is very high.
Fees & Rates
Payment Depot offers four standardized membership pricing plans that are designed to meet the needs of most merchants. Standardized plans offer several advantages, including eliminating the need to negotiate the rates and terms of your contract, as well as providing very clear transparency about what you’ll be paying in fees every month. Here are the current details of each plan:
Basic Membership
This is Payment Depot’s entry-level offering and is designed to meet the needs of small or start-up businesses. Here’s what you get:
- $49 monthly fee
- Interchange + 0% + $0.15 per transaction
- $25,000 monthly maximum processing volume
- Virtual terminal and payment gateway included
Most Popular Membership
Designed for mid-sized merchants, this plan offers lower processing rates in exchange for a higher membership fee.
- $79 monthly fee
- Interchange + 0% + $0.10 per transaction
- $75,000 monthly maximum processing volume
- Virtual terminal and a payment gateway included
- Countertop terminal or mobile card reader included
- Data breach protection included
- Premium/prioritized customer support included
Best Value Membership
This membership plan is ideal for a larger, more-established omnichannel business. It comes with the following standard features:
- $99 monthly fee
- Interchange + 0% + $0.07 per transaction
- $200,000 monthly maximum processing volume
- Virtual terminal and a payment gateway included
- Countertop terminal or mobile card reader included
- Data breach protection included
- Premium/prioritized customer support included
Premier Membership
Designed for very large businesses, this pricing plan includes all the bells and whistles you could need and offers the lowest processing rates.
- $199 monthly fee
- Interchange + 0% plus $0.05 per transaction
- Unlimited maximum processing volume
- Virtual terminal and a payment gateway included
- Countertop terminal or mobile card reader included
- PIN pad included
- Data breach protection included
- Premium/prioritized customer support included
- Free terminal upgrade every two years
If you prefer to pay your membership fees annually instead of monthly, you can save close to two months’ worth of subscription fees over the course of a year, while also taking advantage of the 90-day risk-free trial. Talk to Payment Depot about these pricing specifics, since the annual payments are no longer listed on the site.
Excerpt of pricing page.
Custom Plans
While Payment Depot’s standardized plans eliminate the need for negotiating for most merchants, you can still ask for a customized solution if none of the offered plans meet the unique needs of your business. Customized plans are a good way to go if you have hardware or software needs that aren’t covered by any of the standard plans. It’s also possible that your particular combination of average ticket size, number of transactions per month, and total processing volume would be better served by some sort of hybrid plan.
Choosing The Best Plan With Payment Depot
While the best plan for your business must fall within the advertised monthly maximum processing limits, there are other considerations as well. To determine the true “best value” membership level for your business, you must also examine the interplay of the average number of transactions you typically process each month, as well as your average transaction size. Basically, ignore the names of the plans (they’re just for marketing purposes) and do the math for your own business instead.
While the various membership levels and calculations may seem a little daunting at first, the good news is that if your business outgrows your current plan, Payment Depot makes it easy to upgrade to the next-highest plan. Still, bear in mind that within each membership level, the more you process, the more cost-effective the plan becomes. Of course, with a monthly membership that you pay regardless of how much you process, it’s also clear that Payment Depot’s pricing is not designed for seasonal or micro-merchants. These businesses are better served by a specialized third-party processor like Square (see our review). With the elimination of Payment Depot’s $29/month plan, this has become increasingly true.
However, if you just need a functional mobile processing app and a mobile card reader, check out the Payment Depot Mobile plan with the Swipe Simple app. The plan is tailored at low-volume merchants with a small monthly fee and flat-rate processing. You’ll need to use the links on our site to be able to sign up for this special rate.
Other Fees
Payment Depot’s standardized subscription plans cover all the miscellaneous fees that most providers charge you separately for, making your monthly costs much more predictable. Here’s a list of fees you won’t be charged by Payment Depot:
PCI Compliance feesStatement feesIRS reporting feesApplication & setup feesEarly termination feesJunk/hidden fees
You’ll still encounter some occasional fees that are charged by your processor and passed on to you at cost. These include any chargeback fees, as well as all credit card network fees and assessments that are passed through along with your interchange fees. Consult your merchant agreement for details on these and other fees. You should also note that Payment Depot will charge you a monthly PCI non-compliance fee of $19.99 if you don’t keep your account in compliance. The existence of this penalty fee (but not the amount) is disclosed on their website.
Payment Depot earns an “excellent” rating in this category. Not only are their fees and rates fully disclosed, but they’re also reasonable and very competitive. The company claims that merchants save an average of $400 with their pricing, and we’re inclined to believe that this is not an exaggeration.
Contract Length & Early Termination Fee
One of the most attractive features of Payment Depot’s service is that all accounts are set up with true month-to-month billing. Payment Depot doesn’t enforce its backend processors’ boilerplate Terms and Conditions, which typically stipulate long-term contracts and early termination fees. You also won’t have to worry about automatic renewal clauses, which make it difficult to close your account before it’s renewed for a new term.
Your relationship with the company will still be covered by a merchant agreement, however, so be sure to thoroughly review any terms and conditions that come along with your application. Generally speaking, Payment Depot does not require advance notice to cancel an account. If you have already run transactions during the month you’d like to cancel, Payment Depot will immediately process the cancellation, but then schedule the actual closure to happen at the end of the month so that the current month’s fees can be collected.
While providing month-to-month billing is a growing trend within the processing industry, Payment Depot does offer an option to pay annually and save on membership fees. This is also where the 90-Day Satisfaction Guarantee comes into play. If you have paid an annual membership but aren’t satisfied and decide to cancel, simply let them know and return any provided equipment. You’ll receive a full refund of any membership fees you’ve already paid, or a prorated refund if you cancel after 90 days. Naturally, you won’t receive a refund of any processing charges you paid during this time – just membership fees. You will pay a 20% restocking fee for any equipment you return.
Payment Depot earns an “excellent” rating in this category because they offer true month-to-month billing with no early termination fees to all merchants. It doesn’t get any better than that!
Payment Depot links to this guarantee on its homepage.
Sales & Advertising Transparency
Payment Depot’s website is quite professional-looking and easy to navigate. Because the company uses standardized membership pricing plans, they’re able to fully disclose what your costs will be with each plan. Most providers don’t even include pricing information on their websites, partly because it will vary from one merchant to the next, but also because they don’t want you to know how expensive it will really be until after you’ve signed your contract. Membership pricing makes it easy to offer full pricing disclosures because everyone pays the same amount under each plan.
At the same time, transparency suffers a little bit because this type of bundled pricing obscures how much you’re paying for individual services. For example, Payment Depot doesn’t charge a discrete PCI compliance fee, but you can bet that at least a small part of your membership fee is going toward services such as security scans that help to keep your account compliant.
I’d also be happier if Payment Depot would provide a copy of its current merchant agreement on the website. While the company isn’t trying to hide anything here deliberately, this would allow prospective merchants to learn more about ancillary fees (such as chargebacks) that they might be liable for in addition to the membership fees. While your membership fee and processing charges will usually be your only expenses, there are always going to be extra fees every once in a while.
Additionally, I’m not a huge fan of some of Payment Depot’s marketing. Charts and graphics on the website tend to be vague and over-simplified. Other marketing materials give the impression that you’ll only be charged “wholesale rates” and “no markup,” and that Payment Depot somehow cuts out all the middlemen. In reality, you do pay Payment Depot (which is a middleman, along with First Data or TSYS) a markup over wholesale processing rates. The markup is merely in the form of the membership fee and transaction fee, instead of the traditional percentage markup of a normal interchange-plus plan. Ultimately, I wish Payment Depot would come up with a better way to explain their inherently transparent pricing structure.
You technically don’t “only pay wholesale” — Payment Depot’s markup just doesn’t come as a percentage. Instead, the markup is included as a membership fee and per-transaction fee.
Dealing with sales representatives is often one of the most unpleasant parts of setting up a merchant account, mostly due to the need to negotiate your rates and terms, and also because many providers use independent sales agents to sell their accounts. You won’t have these problems with Payment Depot. With standardized membership plans, there’s no need to negotiate unless you really need a custom plan. Your rates and terms are already spelled out. All you have to do is select the plan that’s best for your business, and the company provides enough information on the website for you to do that before you ever talk to a sales agent. Also, the company uses in-house agents, so you won’t be subjected to the high-pressure sales tactics that independent agents frequently employ.
Although there are a few minor improvements we’d like to see in Payment Depot’s marketing efforts, the company receives an “excellent” rating in this category because their pricing is standardized and fully disclosed on their website.
Customer Service & Technical Support
Payment Depot offers 24/7 customer service by both telephone and email. Note that you’re more likely to reach a full-time company employee if you call during business hours, which are 7 AM to 5 PM Pacific Time, Monday-Friday. Some technical support issues will be initially covered by the processors (First Data or TSYS) outside of these hours, but Payment Depot also designates an employee to monitor all after-hours support requests 24/7.
One improvement we’d like to see is an online knowledgebase for customers with information on how to solve common problems. Payment Depot doesn’t offer this option at the moment, although there is a basic FAQ on the website.
Payment Depot earns praise for its customer support from many of the merchants who offered testimonials, which is a good sign. An even better sign is the general lack of criticism on this issue among the few complaints against the company that we were able to locate. Poor customer service is a common problem among merchant account providers, and the absence of complaints about this issue is a good indication that the company is doing a good job in this area.
The company earns an “excellent” rating in this category for providing a full range of customer service options, and for their reputation for high-quality support among merchants who’ve commented on the issue.
User Reviews
Unlike most merchant services providers, Payment Depot has a significant amount of positive feedback and very few complaints from merchants. Usually, it’s the other way around. It’s good to see that so many merchants took the time to post positive comments about the company.
Negative Reviews & Complaints
Payment Depot has been accredited by the BBB since 2015 and currently has an A+ rating. The company has had only one complaint within the last three years. Two negative reviews (out of a total of four) have also been filed by customers. There are a small handful of complaints on Trustpilot and Yelp, but most are a few years old. Overall, the total complaint volume is remarkably low.
Reading through the reviews, I don’t see any disturbing patterns or indications of systemic problems. If there is a common thread, it’s that most of the issues were ultimately the responsibility of the backend processor (usually First Data.) In some cases, Payment Depot’s model simply wasn’t a good fit because the business was too high-risk or too small. The great news is that Payment Depot responds in detail to every complaint, admitting mistakes when they happen and issuing refunds where appropriate. We were particularly impressed to see personal responses to some complaints from Payment Depot’s COO.
At this time, we’re satisfied that Payment Depot is providing great service to customers and taking appropriate action to help the small number of merchants who haven’t had a good experience with the company.
Positive Reviews & Testimonials
Payment Depot has four video testimonials posted on its website as well as on its YouTube channel. All of them are very professional-looking and compelling. The company also invites its users to leave reviews on Trustpilot, and even posts some of those reviews right on its homepage. At the time of writing this, 83% of the 270 reviewers on TrustPilot have awarded the company a 5-star rating — a very good batting average. The positive reviews mostly tout the money merchants have saved through the company’s subscription-based pricing and the excellent customer service they’ve received.
If you’ve had any personal experience with Payment Depot, please feel free to leave a comment. We’re always looking for feedback from our readers about the companies we review.
Payment Depot earns an “excellent” in this category due to their very low complaint volume and the sizable number of positive testimonials that merchants have submitted on their behalf.
Final Verdict
There are plenty of good reasons to recommend Payment Depot. Month-to-month billing, predictable monthly costs, and excellent customer support are all positive features that make them stand out from most of their competitors. However, it’s their membership-based pricing that’s going to be the most important factor for most merchants in deciding whether to use them or a different company. Will you save money with this type of pricing? If the answer is yes, then they’re an excellent choice. If you have a stable processing history and know how much you process each month and what your average ticket size is, you can make a reasonably accurate estimate of what your costs will be under one of the company’s membership plans. If you’re just starting out or your costs vary widely each month, it will be harder to make an accurate comparison.
Our analysis of Payment Depot’s membership plans suggests that businesses that are well-established and have a processing volume of at least $10,000 per month will save the most money. Below that amount, you might actually end up paying more than you would with Square (see our review) or a similar provider. Be aware, however, that you won’t get a full-service merchant account with Square or any of the other payment service providers (PSPs), and your account might be frozen or terminated without notice at any time. If your business is small, but seeing steady growth, Payment Depot may be a better choice in the long run. Remember that it’s very easy to upgrade to a different membership plan if your business outgrows the processing limits of your current plan.
Overall, Payment Depot continues to score a very impressive 5 out of 5 stars. We’re very happy with their responsive customer service, and their membership pricing plans will lead to savings in processing costs for the majority of merchants who sign up for them. It’s also easy to cancel if you sign up and later realize that their pricing model doesn’t work for your business. If none of the company’s standardized pricing plans will work for you, be sure to ask for custom pricing. You might be able to negotiate a combination of prices and features that fit better with the needs of your business than their standard plans. Lastly, high-risk merchants are out of luck, as Payment Depot doesn’t support these types of businesses. If you’re in this category, take a look at our article The Best High-Risk Merchant Account Providers for some suggestions.
Or Call Now: 877-978-3539
Frank Kehl
Frank Kehl has been writing about merchant services, payment gateways, and international money transfer services since 2015. He has a Bachelor of Science degree from Penn State and a Juris Doctorate from the Ventura College of Law. After a long and enjoyable career of traveling around the world as an Air Force navigator, he’s comfortably settled down in the wine country town of Paso Robles in California’s scenic Central Coast region. He enjoys reading, photography, hiking, and numerous other outdoor pursuits.
Latest posts by Frank Kehl (see all)
- Should You Implement A COVID Surcharge? 4 Ways To Manage Your Profitability During The Pandemic - June 2, 2020
- How To Read, Understand, & Successfully Negotiate A Merchant Agreement For Your Small Business - March 3, 2020
- How To Detect (And Prevent) Online Credit Card Fraud — And Why You Need A Solid Strategy To Manage Fraud For Your eCommerce Business To Succeed - November 18, 2019
- Don’t Fall Into The Trap Of Leasing Credit Card Machines & Terminals: 4 Smart Alternatives For Getting Payment Processing Hardware - October 21, 2019
- The Complete Guide To Online Credit Card Processing With A Payment Gateway - October 16, 2019
Read Next
Organization Name: Luigi's Ice Cream
Payment Depot, as this article stated, is a middle-man. A 3rd party selling merchant services on behalf of a processor. Just a life lesson: If you’re looking for the cheapest anything possible, cut out the middle-man.I made the mistake of going with Payment Depot and ended up with a 4.0% effective rate!! That’s with me paying their most expensive $999 annual plan!I’d be happy to share more of my personal experiences and can be reached at my personal email: LBVZWNYM@GMAIL.COMThank you and best of luck!
we are a small appraisal company. Owner wants me to look into adding the use of credit cards. I have only had maybe 10 or less a year that ask to use one. i have been reading up on your website, and great info by the way. I also read the many, many bad experiences with Square & Paypal so I would not use them. what would be some other options? Thanks.
Hi Sue,
I’d need more specifics on your processing volume to make a recommendation, but I bet our Credit Card Processor Filtering Tool will be able to get you pointed in the right direction!
I’m opening an art studio for kids. My research shows my average transactions and prices per month as such:
20 transactions @ $140 = $2800
100 transactions @ $10 = $1000
5 transactions @ $20 = $100
15 transactions @ $40 = $600
Totaling 140 transactions equaling $4500
What would be the best CC payment system. I plan on taking payments online (maybe recurring) and at the studio via a mobile CC reader.
All this info is overwhelming, thanks in advance!
This comment refers to an earlier version of this review and may be outdated.
Hi, Leith!
Thanks for your question. We don’t believe that Payment Depot is the best choice for your business, given your relatively low monthly processing volume. You might want take a look at Square, which you’ll find has predictable flat rates. Best of luck!
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred Credit Card Processors 🏆
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
No early termination fee
Pricing model
Rate matching / Negotiable
Visit Site
Visit Site
Visit Site
Visit Site
*All of our preferred processors use fully transparent Interchange-plus pricing.
We've done in-depth research on each and confidently recommend them.
Organization Name: Heidi's Farmstand and Bakery
I used payment depot for my 2017 season. I was satisfied with them as a payment processor. It was a cut rate processor, and everything about it felt like it (Service hours etc). However, they are are cheap processor and did everything I needed. However, when I moved to Square it was definitely a step in a better direction for my business. With all the fees that showed up on the bill from Payment depot they were very close to the same price as square (2.75%).
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Coffee Holding Company
Payment Depot made the transition from our initial processor easy and painless. The estimates they provided were both significantly better than our previous processor and ended up being very accurate to the eventual new charges.
Our salesperson John B. made everything simple and is always quick to respond. I would not hesitate to recommend this company to anyone looking to save money on CC processing.
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Good Skin Again
After having spent hours reading information on Merchant Maverick, I’m feeling less confident than when I started (maybe just less blissful in my ignorance.) I have an skin-care business with one location. I average about 55 credit card transactions a month, all in-person, that average $185. I do not have an on-line store. Only on very rare occasion do I have a card-not-present transaction. I know all my clients. I don’t need gift cards, for my processing system to mesh with bookkeeping software, or anything fancy. I do need one that works off WiFi but that hopefully has come back-up system when WiFi is down. I want a monthly statement as well as regular and reliable deposits.
I am NOT AT ALL TECH-SAVVY, and want to cry when I have to talk to technical support with my present company (which is all too often these days). I have read mostly good things about Payment Depot except the one review by the person who spoke of the difficulty of completing the PCI compliance process, and who described himself as tech-savvy, worried me.
I need simple, simple, simple, and for my next processing company to a better deal than Heartland. Is Payment Depot the answer?
This comment refers to an earlier version of this review and may be outdated.
Hello, Marylou. Sorry Merchant Maverick has burst your ignorant-bliss-bubble 🙂 but you’re absolutely doing the right thing to conduct thorough research, and you will benefit in the long run!
I did look back at the complaint about the PCI self-assessment from 2.5 years ago for Payment Depot. We don’t know exactly how complicated this merchant’s particular situation was in terms of PCI compliance, which can make a big difference in what’s required. If you are concerned about this aspect, I’d suggest speaking to Payment Depot directly before you sign up. Explain your business and your concerns, and have them walk you through the exact process beforehand, outlining exactly what assistance you will receive. We have found that overall, Payment Depot’s customer service and tech support is above average. Most merchant accounts will require some sort of self-assessment for PCI compliance. The difference is in how complicated the business is, and how much handholding you’ll receive in the process.
Not do confuse you with more information, but take a look at our review of Payment Depot Mobile as well. If you go that route, the standard membership pricing is likely more cost effective than the flat rate processing option for your volume, but you can run those numbers yourself.
If your highest priority is utter simplicity, you can also take a look at Square. There are trade-offs in using a third-party processor like Square vs. a dedicated merchant account like Payment Depot, however. Check out our Square review for more info on that!
Good luck!
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Payment Depot
Hello MaryLou, since you have a single retail location, PCI shouldn’t be an issue. We have plenty of in house technicians that are available to walk you through it if needed. Hope that helps you in making a decision.
James Britton
(714)922-9984
Manager | Payment Depot
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Tradebuilder Corp.
Don’t deal with this company. Sales Team will open your A/c. After the Transactions run, the money will remain show as Settled in Authorize.net and after that the table tennis match with begin where you will wonder where did the money go. You follow-up (They would not call you since they don’t care that they promised next day funding) and the technical team will say that the Account was incorrectly set up. Sales Team will make you fill another form to set up but still no word on the Amount that is lying in the limbo. When you follow-up with the Agent, they say “Call the Bank”, “we don’t know what is happening” and you insist to speak to a Manager. The Manager says that the Account was set up incorrectly and the changes will be made but the Risk Department will call you. No call back again. You need to follow-up because you don’t have any other work. Keep following up for your own money as many times as you can. The best part is that you still do not see a Credit in your Bank A/c and it is not 8th day. I am still following up. I am closing my Account as soon as I get a credit for this Amount.
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Payment Depot
Mr. Joshi, I apologize for the troubles you’ve had but it’s completely out of our hands at this point. The bank has held your funds for irregular activity and for services not allowed by us or ANY traditional processor. These activities would be considered high risk and your best bet would be to find a High Risk processor to support your business. It’s unfortunate that this wasn’t disclosed on the application and my Sales Team didn’t catch it. I appreciate the opportunity to serve your business and as you know, we went above and beyond getting you set up with 2 separate processing banks and both banks came back with the same results. I appreciate your time and good luck to you in the future.
James Britton
Manager | Payment Depot
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
I was one of those very happy customers. Great agreement very straight forward. I was so happy I renewed my contract in March of 2018. BIG MISTAKE! Those friendly local people that I talked to before are replaced with a receptionist who puts in a request that goes to who knows where. If you are a business you very likely don’t just do business 9 – 5 Pacific Time. If you need to run cards and they lock you out for needing to change your password (time expired) They make you call in to do this by the way. There is no technical support available anymore. You get to talk to a person with a very foreign accent. Who tells you the tech will get back to you and they don’t. And the other day I called midmorning about a customer’s card not going through. Luckily we figured out he had not authorized a new card he got. Lucky, because tech support did not call back for two days! This was not Payment Depot’s old service, it was great. Not sure what changed but run don’t walk to another processor. So sorry I paid my yearly dues. Either they sold the business or outsourced. You can believe the old reviews because they were correct, but they no longer are.
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Payment Depot
Hello Sue, this is concerning. We haven’t outsourced anything. In fact we have doubled down on our tech support (all located in the US) to ensure we can support our merchant’s needs 24/7. Please reach out to me at your earliest convenience and i will make it up to you. Since we don’t have any long term contracts or cancellation fees of any kind, our priority is to earn your business each and every month and we will work diligently to earn your business for another year. We truly appreciate the opportunity to serve your business. I look forward to speaking with you to make this right.
James Britton
Manager | Payment Depot
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
Organization Name: Hobby Works (R)
I consider switching our stores over to Payment Depot one of the best business decisions I’ve ever made. We discovered them when a fellow retailer asked me to investigate them for him, because the terms he was quoted seemed too good to be true. They DID seem too good to be true. But I called them anyway, and was convinced to change over ONE of my stores (honestly, I still thought that what they were telling me was too good to be true, so I only changed one over). The following month when I got my statement – I couldn’t get them on the phone fast enough! We changed all of the others over within days. The savings were that good. It’s not only about money though. Their service has been terrific. You get to email or talk to real people, who know how the system works. There has never been a problem that they haven’t solved faster, or friendlier than I’ve come to expect from other payment processors. The fact that these guys are so good, just highlights how very badly independent retailers are treated by merchant companies.After twenty five years in retail running multiple units, I cannot say enough good things about Payment Depot. Seriously, If you fit their criteria and do a decent volume in processing, you need to call them right now. Every day you don’t, you are losing money.Simple.
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred Point of Sale Software 🏆
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Best For
Monthly Fee
Free trial
Visit Site
Visit Site
Visit Site
Visit Site
We've done in-depth testing of each and confidently recommend them.
I am really surprised the level of ignorance in the negative reviews. Payment Depot is one of the few ones doing clean business even they are working with very dark company “First Data”. I am very picky and hard to swallow guy and sales person took her time and answer all my questions. The offer was hard to believe at the beginning because they are almost more clear than Square. I had problem with payment depot about some fees but they went extra mile for me and even refunded the fees i bet first data wouldn’t:). I got couple of companies to take my service and when i sent my current statement, they said “touche”. Payment Depot is really legit and very good on Customer service. However, i am considering to leave them. Simply because i own a franchise with 35 location not every one wants to use them due to fact that POS system is not attached to their system. I wish they would have something like clover and we can use merchant service and POS system together. Anyway, i recommend anybody to read this to use Payment Depot(best value) or Square(even expensive) . Other than that , i always had problem in my business life.
This comment refers to an earlier version of this review and may be outdated.
I’m ecstatic to see an alternative to the processor I currently use. I think I’d fall into the second pricing tier, but I do have seasonal sales that deviate from the average. My big fear in switching is the BEATING I’m going to get in cancellation fees from my current processor. Ughhhhh!
This comment refers to an earlier version of this review and may be outdated.
Janice, give me a call sometime and we can discuss further. Thanks for looking into us!
James Britton
Sales Manager | payment Depot
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
I was just shopping around for a new processor since I had Elavon for 9 years, I thought it’s time to look around…
I was shocked when a very nice lady from this company told me I cannot get their service because I am not an American Citizen. I am Japanese married to American citizen, and I am not ready to denounce my Japanese citizenship…. but she told me to call back I decided to become an American citizen… (in very nice way… she is very compassionate and sweet)
It was my first time that I was denyied any business because of my immigration status. I thought it is discrimination, but I guess it is not….Any company have right to refuse service….
I understand it’s not even the compay’s fault, since it soumded like the first data is the one who is contolling this matter. I called first data and was told, they can sell me the service, so they have different policy towards their direct customers.
Anyway, it is sad that I cannot even try the Payment Depot and I hope someday, they realize it’s a bad policy…. Again, the person I talked to was really nice so I would think you get good customer service, if you were to try them…
This comment refers to an earlier version of this review and may be outdated.
Hello Natsuko, I am aware of this situation and really wish were able to serve your business. If it was up to me we would already have you signed up. Unfortunately we are at the mercy of the processing banks. Good luck to you in the future! We appreciate the opportunity to earn your business
James Britton
Sales Manager | payment Depot
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
Interchange plus 0%, plus a transaction fee is still Interchange Plus.
If you have a casual diner with a $17 average ticket at .25cents/txn, that is 1.47% (divide the transaction fee by the average ticket. In a small ticket enviroment, say coffee shop with a $7 ticket, that is 3.57% over interchange. Most processors can charge a straight transaction fee or a discount rate, the problem is that most reps don’t get to know your business to understand what are your processing needs. They are too busy trying to figure out how much margin is on the table, rather than seeing if it’s a right fit to provide a win/win solution. I am also in the business, but I like reading the responses here from the Payment Depot staff. Regardless though, this is still Interchange Plus.
This comment refers to an earlier version of this review and may be outdated.
Hello Carlos, we at Payment Depot believe in establishing long term relationships and are willing to customize our plans to meet each one of our merchant’s needs. We would never set up a merchant with high volume transactions at .25 per Feel free to call or email with any questions
James Britton
Sales Manager | payment Depot
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
Payment depot looked like a great option to me as I was looking at starting my own practice(physician). But after talking to some one at Payment Depot, I found out that I am not eligible as I am Permanent Resident(green card) and not a citizen. First Data which is the solution provider to Payment Depot requires that atleast one owner be a US citizen. Maybe in the future !
This comment refers to an earlier version of this review and may be outdated.
Hi Tom,
Thank you for the very informative posts. I have been doing a lot of research for a Merchant Services company that would fit our needs and not have us get thrown under the bus with outrageous fees and such. We are gonna be a new company, technically wine bar. I wonder if you have any recommendations on where to get a list of what Payment Depot considers “High Risk vs Low Risk?” I guess it would be First Data’s list as they approve or deny applications. Any help would be great. We are expecting to do anywhere from 500-800 cc transactions per month to start.
Thank you,
Tracy
This comment refers to an earlier version of this review and may be outdated.
Hi Tracy,
You can find a list of Payment Depot’s accepted and prohibited industries here.
This comment refers to an earlier version of this review and may be outdated.
Learn More About Our Preferred Lenders
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Why won’t any of these credit card processing companies services the US territories?
This comment refers to an earlier version of this review and may be outdated.
Payment Depot, resellers for First Data, wanted a $10,000 risk deposit from our company, which was ridiculous. And they wouldn’t specify why. Truthfully, I think that the person who processed our application to First Data messed up the application. Our average sale is about $50 and our average month is $33,000. We have very few chargebacks and we have been with e-online data (now EVO) since about 2009 and never missed a payment. I rate Payment Depot LOW. One star.
This comment refers to an earlier version of this review and may be outdated.
Hello Beth, thanks for your input. We have no say in what merchants First Data approves, declines, or requests reserves from. We submitted the application exactly how you completed it. Its unfortunate that First Data deemed your business high risk as we would have loved to work with you. Good luck in the future
James Britton |
Payment Depot | Sales Manager
(714) 922-9984
This comment refers to an earlier version of this review and may be outdated.
Hi Beth,
I reviewed the whole case as well and I apologize that we were not able to get your account approved. Like James mentioned, we process through First Data and they have the final say in approvals and declines. They did tell us that based on the type of business, they were going to require a reserve account. Our internal processor, John relayed the requirements to you and also suggested that you NOT take the deal. In our experience it is almost always a bad deal when an account is forced to have a reserve. We actually thought that we were doing the right thing by suggesting that you NOT use us if First Data was going to require a reserve account. I can certainly understand your frustration, however I believe that we acted in an honorable and transparent way by telling you that a reserve account is a bad idea and even apologized to you for the fact that First Data was requiring that of you. I obviously don’t want bad reviews online, but I believe that we handled the situation in a professional manner and we will continue to look out for merchants whether they use us or not. Again, we do wish you the best of luck in your business and I really do wish that we could have worked with you.
Randy Hayashi
COO
This comment refers to an earlier version of this review and may be outdated.
I have the worst experience applying for an account with them. After I submitted the application I had to wait for about 2 weeks till they requested for a bunch of documents saying that after submitting those documents I will get approved. I submitted the documents and heard nothing from them until 3 days later, ANOTHER credit card processing company called me saying that my application with Payment Depot got denied and that was why they called to offer their service. So Payment Depot NEVER informed me about my application status but they sell my contact information to another company without my consent. I will never do any business with Payment Depot and I hope other people will never deal with them
This comment refers to an earlier version of this review and may be outdated.
Hello, thanks for your feedback. Here at Payment Depot we strive to have best in class customer service and we can’t improve without hearing from merchants. With that said, I don’t really think your review is fair. In this industry certain businesses have higher risk than others and unfortunately your business model falls under that “High Risk” category. You submitted your application on a Thursday afternoon and we sent you the email requesting additional information for approval on the following Tuesday morning. That is less than 3 full business days, much less than the two weeks you suggested in your complaint. Additionally, this was the second time you had attempted to apply with us. The first time you were declined as well due to the nature of business but we honored your wishes and attempted to apply with the bank again on your behalf. In regards to us selling off your information, that is absolutely false. My sales representative went out of her way to find a High Risk Processor that could work with your business. She isn’t required to do this but it’s the extra effort our employees do to help merchants out. It’s unfortunate the Bank declined your application because we would have loved to serve your business unfortunately, we couldn’t and I wish you and your business all the luck in the future. Feel free to call or email if you would like to discuss further.
James Britton
Sales Manager | Payment Depot
(714) 922-9984
This comment refers to an earlier version of this review and may be outdated.
I have the same issue, that I end up using the company that I never sign up for, even now payment depot still keep lie to me everytime when I called them they always tell me that I’m using payment depot but when I call the clover customer service they told me that I didn’t set up with payment depot but I setup with bestmerchant rate, I don’t know what to do, I using them for couple day for my restaurant business and I still not see the money deposit to my account, and if I call payment depot I know they will just keep lie to me again. Because I called them for more than five time and they kept told me that I using payment depot even I know I’m not using them, they think that I’m stupid and can just keep lie to me everytime. I trust payment depot that’s why I’m signing up with them for my restaurant business, but they sell my information to another company And charge me for the annual fee plus the mobile clover for almost a thousand, and now I know that I will end up with pay a lot for the credit card rate even they told me I will pay only five cent plus interchange rate, I want to ask them why they not telling me the truth so I can just cancel and get my money back and apply for the new merchant company that I want to use instead of them judging me to use the company they want and kept lie to me. They provide me the website to look at my report but I can’t even see the report the end of the day I don’t know where is my money goes I hope this money will deposited to my account soon so I can cancel and get my money back and hope I can return mobile clover because they are expensive. I feel really bad for trusting the wrong company with never honor to the customer but just scam people;(
This comment refers to an earlier version of this review and may be outdated.
Panu, You are processing with Payment Depot and as far as we can see on our end, you are receiving your funds without any issues. We have not sold your information to any other organization and are your only merchant processor. I will reach out to you and clarify any misconceptions. Thanks for being a memeber with the Payment Depot
James Britton
Sales Manager | Payment Depot
(714) 922-9984
This comment refers to an earlier version of this review and may be outdated.
This website is a fabulous resource for those of us who know little. Based on comments & responses, I have deducted that Payment Depot only operates in the U.S.? If I am a wrong, please let me know as I was all ready to sign up but am a Canadian Merchant.
This comment refers to an earlier version of this review and may be outdated.
Hi Tammy,
Unfortunately Payment Deopt only operates in the US. I would recommend checking out Helcim, they are a great alternative!
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred eCommerce Platforms 🏆
Start Free
Read Review
Start Trial
Read Review
Start Trial
Read Review
Start Trial
Read Review
Price
Free Trial
Ease Of Use
Start Free
Start Trial
Start Trial
Start Trial
We've done in-depth research on each and confidently recommend them.
We are about to open a coffee pastry shop and expect $50.000 of sales per month with a $10 average ticket. Because of the low ticket average is Payment Depot a good solution for us?
Thanks
This comment refers to an earlier version of this review and may be outdated.
Hello Jean,
It’s possible that we are the right fit. Just depends on a few things. We definitely would need to have a conversation over the phone and go over the numbers. Normally for coffee shops you need a very low per transaction rate and a complete understanding of pin debit vs. signature debit. Feel free to call me to discuss, as always we have no contracts or cancellation fees and offer a 90 day risk free trial.
James Britton
Payment Depot | Sales Manager
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
So, this is Interchange plus pricing with the extra fees bundled into a monthly “subscription fee”. How is that different than straight Interchange Plus pricing? Also, on their website they show that they go directly to Visa and MasterCard cutting out the sales person and processor but they also disclose that they are an ISO of Wells Fargo…..so there is a processor. That’s very misleading and doesn’t appear accurate. My current monthly fee is only $5.00 and PCI is only $65 a year, RAAP is $0.00 so to pay $49 a month would be a substantial monthly increase, right? Pricing is IC plus .06% and $.05 transaction fee on about $40,000 per month. Average ticket of $10. That $.15 transaction fee would add about $300 to my monthly fees! What am I missing?
This comment refers to an earlier version of this review and may be outdated.
Hello Mary Beth,
This is a great question. We always tailor our membership plans to each merchant. Payment Depot obviously wouldn’t be the correct fit if we charged you the $.15 per transaction. We would set you up on a custom plan that would work best for your business and ultimately, save you money. Since we dont have any contracts or cancelation fees we only sign up merchants that will save money and/or looking for best in class customer service. Feel free to call or email me for that custom plan.
James Britton
Sales Manager | Payment Depot
(714) 922-9984
james@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
I was in the process of switching from my current processor to Payment Depot based on your glowing review and my quote from a salesman named Nick Hogue . He confirmed the pricing you show in your review of $599 per year membership fee, interchange + Zero, and 5 cents per transaction for merchant doing more than $100K per month, no other fees of any kind, plus a free stand alone dial-up terminal for when the internet is down. It seems Nick no longer works there, and his replacement Rebecca says they’ve raised their price to 10 cents per transaction and no longer provide a terminal. I’m not sure I trust a company that changes their pricing from month to month and does not stick to their original quotes.
This comment refers to an earlier version of this review and may be outdated.
Hello David, I apologize we didn’t meet your expectations but we don’t change our plans month to month. We strive to be as transparent as possible and all of our membership plans are posted on our website. Even though we don’t give away free terminals, we do have interchange +0% pricing which usually means we’re going to save you more in the long run than a $200 piece of equipment. I would love the opportunity to earn your business, feel free to call me directly at (714) 922-9984
James Britton
Sales Manager | Payment Depot
This comment refers to an earlier version of this review and may be outdated.
This is one of the least biased and accurate reviews I’ve seen from Merchant Maverick. It may have been mentioned in a previous review/post that I have not seen but I was glad to see in this one that it was clearly stated that interchange pass through has the potential to be less expensive than Payment Depot. The key word there is potential. If you can find an ISO that offers interchange plus 20 basis points and 10 cents (or less), it beats Payment Depot pricing all day long but the merchant must understand what the miscellaneous fees are going to be, and that’s where the less than knowledgeable sales rep (or shady rep) can really do a disservice to a merchant. Those fees have to be kept low ($20 or less per month) on a terminal, anything higher and Payment Depot is probably going to be a better option, or at least about the same price and easier for a merchant to understand. Payment Depot’s first 3 tiers equate to about 25 basis points and about a 10 – 15 cent transaction fee, which is not a bad deal at all for most merchants, but high volume merchants would be better served with a lower cost interchange pass through deal.
One last thing that it seems a lot of merchants don’t quite grasp is that Payment Depot is not a processor, they are an ISO using First Data as their processor. There’s absolutely nothing wrong with this. You can’t perform a credit card transaction without a processor and very few processors have any sort of direct sales that are accessible by smaller merchants. The role of boarding and supporting these merchants is filled by thousands of ISO’s across the world, that’s why getting a merchant processing account can sometimes feel like the wild west with tons of contradicting information. So in many respects Payment Depot is a good choice, they are not ripping anyone off. Personally I just don’t like the fact that they have some blatant lies on their website, like claiming to “cut out” the processor and the middle man, when in fact they are the middleman. I don’t see a need for this deception when they are already being fair and decent with the merchant with regards to their pricing.
This comment refers to an earlier version of this review and may be outdated.
We’ve been a Payment Depot customer for about 6 months, and so far our experience has been largely positive.
Last month, our blended rate (the cost of our subscription for the month, plus fees) was 2.28%. Not bad, and their customer service has been good.
My only complaint is that Payment Depot (and First Bank) is one of the few processors that requires PCI-validation from small merchants like us. Most processors take the bourdon of PCI-compliance on themselves, upstream from smaller merchants. First Bank requires PCI validation from small merchants, or else charges a $19.95/mo fee.
I’m a fairly technical person, but the PCI compliance process is nuts. It requires extraordinary and unncessary measures such as creating a completely separate network just for your credit card transactions.
So, either plan to invest an extraordinary amount of time and effort in fulfilling the requirements of PCI-validation, or add $240/yr to your Payment Depot quote.
This comment refers to an earlier version of this review and may be outdated.
Hello Andrew, thanks for your feedback! We are proud to have you as a member. If you ever need to discuss your PCI issues, call me directly and I will transfer you with one of our in-house technicians. We aim to have the best customer service in the business and feed back is appreciated! As always, you can call me directly at (714) 922-9984
James Britton
Sales Manager | Payment Depot
This comment refers to an earlier version of this review and may be outdated.
Tom I spoke with you a few years ago when starting my business. I ended up with Infotouch POS that was embedded with Mercury as the CC processor. I actually had good fees and service with them but then the Infotouch people had a falling out with Mercury and switched to a unknown company TTSI. I was “promised” my fees would match but they have been higher and continue to grow. Average month is just under 80K in credit/debit card charges. Recent example December 2015 was our best month ever with $104,495 in credit/debit charges and fees were $2,683 which to me are high. Maybe someone from payment depot can weigh in as well. Thanks!
This comment refers to an earlier version of this review and may be outdated.
Hello Greg, I would love the opportunity to earn your business! We wont promise you anything except a 100% money-back guarantee if you aren’t completely satisfied with us. We have no contracts or cancellation fees of any kind. Feel free to call me directly if you’d like to see if we could serve your needs.
James Britton
Sales Manager | Payment Depot
(714) 922-9984
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred Credit Card Processors 🏆
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
No early termination fee
Pricing model
Rate matching / Negotiable
Visit Site
Visit Site
Visit Site
Visit Site
*All of our preferred processors use fully transparent Interchange-plus pricing.
We've done in-depth research on each and confidently recommend them.
I am a current client of less than a year. I did have an issue when first setup. Talk about customer support, the CEO called me to discuss the issue. My customers complement the terminal and comment on how fast it processes chips. They expect a 15 second delay, which we don’t see. I would recommend them for their support, but you would need to do an apples to apples comparison to know if it is right for you. I had to wait a month to make certain I was getting the savings I expected. The banking industry does not make it easy to compare until you see the actual bottom line. I am signed up for the $40,000 a month service and am happy. The Clover Mini is the best.
This comment refers to an earlier version of this review and may be outdated.
Hello Mike,
This is James Britton, Sales Manager at the Payment Depot. Thank you so much for the kind words. If you ever have any issues, feel free to call me directly at (714) 922-9984. Since you’ve signed up, the delivery and set up times on the Clover Mini has greatly improved as you were one of the first members to order it at the time. Once again, we very happy to have you as a member and never hesitate to contact us if you have any questions.
Respectfully,
James
This comment refers to an earlier version of this review and may be outdated.
unless I am misunderstanding the review, it seems their rates have changed. according to this https://paymentdepot.com/how-it-works/#section-pricing you get charged anywhere from 25 cents to 10 cents in addition to interchange fees. You also still have the monthly $29-$99/mo membership fee. From the review here it seemed that you only had a membership fee + the interchange rates.
This comment refers to an earlier version of this review and may be outdated.
Hi Clint,
They have no percentage markup, but do have a per transaction fee and a monthly fee. So if the interchange is 1.5% + $0.10 and you’re on the basic plan, you pay 1.5% + $0.35. For small transactions, this might not work out well for the merchant. But for mid- to large-sized transaction, the percentage makes a big difference.
In the review we say “0% + $0.XX over interchange” to describe this pricing.
This comment refers to an earlier version of this review and may be outdated.
Hey Tom!
I feel like I know you having read so many of your reviews!
Anyways, I am currently with Helcim (who are great) but i am constantly approached by other companies. What i have learned, via others experiences and my own, is if the company has independent sales reps they are probably really shady.
Most companies tell me i can save anywhere between $50-$140 (depending on the company) most of these companies i have been able to give me lower rates but charge me all that “saved” money in their miscellaneous fees.
I was curious of which company you think is better for a business like mine Helcim or Payment Depot? ($1300 avg/mo.) or any other suggestion you may have for me to research.
Keep it rockin, Tom!!
This comment refers to an earlier version of this review and may be outdated.
Hi Tracy,
I’m glad our reviews have helped you! I have found the same thing regarding processing companies that use independent agents. Sure, some of the independent agents are knowledgeable and fair – but many of the companies lack the oversight needed to ensure consistency and professionalism. That’s why we love services like Payment Depot (and our other favorites). They publish standardized pricing, so everyone is on the same page. Businesses that process large volumes each month can get rates lower than the advertised rates, but for small to average sized merchants – what you see if what you get, and that’s a good thing.
For your business, all of these options will likely cost about the same. The margins are so small at ~$1300 per month, it really won’t make a difference given the fact you already have a great interchange-plus plan with Helcim. I’d say if you’re satisfied with Helcim’s service, stick with it. Their rates are about as low as you’ll find anywhere else, and they do a REALLY good job of keeping added fees to a minimum. You’re next best option is probably Payline Data, because they have a low-volume plan. But really, we’re talking about a maximum potential savings of under $5 per month in all likelihood.
Thanks for reading!
This comment refers to an earlier version of this review and may be outdated.
i signed up with payment depot last month and just received my statement. I’m extremely happy and am saving a ton of money now. Thanks payment depot!
This comment refers to an earlier version of this review and may be outdated.
Hello Rob,
James here from the Payment Depot. Thanks for the review! We really appreciate you and are happy to have you as a member. If you ever have any issues, please call me directly at (714) 922-9984
James Britton | Sales Manager
Payment Depot
Jbritton@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
Tom,
First I want to thank you for your comprehensive and extremely informative site. I am presently using Transfirst and NOT happy. My bottom line cost monthly for my online store has been between 4.5% to 5.5% of the total $ transactions for the month (usually around $5-$6K)(have about a half a page of itemized charges). I have noticed on this site they have a Max of $10K processing for the month, what happens if you exceed that in a single month. Do they stop processing you after $10K or do they automatically bump you up to the next level forever? I could process that amount but must have a paypal button on my site, cause a lot of clients like it. So, theoretically I could easily go over the $10K if my paypal button went down, as I do about half for each.
This comment refers to an earlier version of this review and may be outdated.
Jeff,
Sorry that we missed this and never commented back. Our pricing has changed and the Basic plan now goes up to $20k. We are not sticklers on the max volumes. If you were to go over $20k by a few thousand dollars each month it would not be an issue. If you go way over it as an average for the year we would call you before your renewal and suggest moving to the next plan. These are the easiest calls we have to make because after a year of processing, if our members are saving money and processing twice as much as they expected, they are happy to move to the next plan.
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred Point of Sale Software 🏆
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Best For
Monthly Fee
Free trial
Visit Site
Visit Site
Visit Site
Visit Site
We've done in-depth testing of each and confidently recommend them.
Hello Tom,
Thank you for your comparison and reviews. They are great help of someone who is getting new in business and for anyone that has been in the industry.
I am buying two business with one being small convenience and one liquor store. I feel the small store maybe less credit card but the liquor store will have good amount of credit card sale. Does any merchant services provide rate on combining both store sales. I want to stay with one merchant services but i feel like i am not saving by going with one based on top 4. What you recommend i go with and it is best choice? I am thinking of also banking with Bank of america for business banking and one of the store has clover.
This comment refers to an earlier version of this review and may be outdated.
Hi Ketan,
You’ll need two different merchant accounts because the businesses are different. Each has a different risk profile, and thus will need to be approved separately. Although it would likely make your life easier to get both accounts from the same provider, and you might be able to leverage some savings by bringing them two accounts. I can’t say which choice would be best based on the information you’ve provided. Check out our merchant account finder. It will help you find the best account for your businesses.
Hope this helps!
This comment refers to an earlier version of this review and may be outdated.
Hi Ketan,
this is Valerie from Payment Depot. As Tom mentioned, you will need two separate merchant accounts for the two businesses, however at Payment Depot we work really hard to make sure we are providing great service at a great price to our members.
If you’d like to email me at valerie@paymentdepot.com I can get a free, no commitment quote started for you. That way, you can get an idea about our pricing, tailored to your business needs.
Thanks,
Valerie
This comment refers to an earlier version of this review and may be outdated.
I am just starting to look into taking credit cards for our business in the water treatment industry. I would need a mobile terminal or some way to connect to our tablet or phone both android based. I was starting to look at Square and First Data independent out of Virginia but found this. I was quoted 3.25% & $.25 just for the transaction. Any information would help.
This comment refers to an earlier version of this review and may be outdated.
Hi Earl,
That’s awfully expensive. Try our merchant account finder. The majority of the merchant account providers we’ve reviewed include mobile capabilities as part of their basic package, and the rates will be far less than 3.25%. For more info about fee, check out this infographic.
This comment refers to an earlier version of this review and may be outdated.
Hi Earl,
this is Valerie from Payment Depot. I would love to get more information for you on how Payment Depot can benefit your business. We do credit card processing differently than most other companies in this industry. We charge an annual membership fee and then give you the wholesale processing rates, which means you only pay what you have to. No markup on rates, ever.
You can reach me at valerie@paymentdepot.com to get more information about our service tailored to the intricacies of your company.
Like Tom said, 3.25% is very expensive, so no matter which company you go with make sure the rates are not that high.
Feel free to contact me with any questions,
Valerie
This comment refers to an earlier version of this review and may be outdated.
I’m opening a new fast food restaurant. At this point i don’t know how much transaction i will be making. First i was thinking to get a Square but i found out about clover. Is clover a better choice than square for a fast food type restaurant?
This comment refers to an earlier version of this review and may be outdated.
My rating is based upon what appears to be excellent customer support. I am currently with 2co and after reading this I am convinced I am in the wrong place. I had filled out all of my tax information they wanted (7 times) and they quit paying me because they did not have the information. I thought I was going to have to fly to Cleveland to get it resolved. Their emails must be backlogged for months. Payment Depot is quite a contrast. Their people are here on a review site helping people. I am sold.
This comment refers to an earlier version of this review and may be outdated.
We’re glad to hear you’re excited about Payment Depot! This is Valerie, if you have any questions about our membership or want to get a statement comparison started I would love to help you.
You can reach me at valerie@paymentdepot.com.
This comment refers to an earlier version of this review and may be outdated.
We are a midsize landscaping company using FTS/Card Connect with a virtual terminal to process. We probably run 25-40k a month but it is all keyed entry. We have no “retail” center to swipe cards. It seems like the fees are very high and also difficult to really understand. Would you recommend Payment Depot for us?
This comment refers to an earlier version of this review and may be outdated.
Danielle,
I think Payment Depot would be a great option. As a landscape company I imagine that most of your transactions are large amounts. Payment Depot only charges a per transaction fee and a set monthly fee (plus interchange), so it’s an ideal setup for high volume, high ticket businesses.
This comment refers to an earlier version of this review and may be outdated.
Hi Danielle,
my name is Valerie from Payment Depot. We can provide you with the wholesale cost to process credit cards for your business. If you’d like to get a statement comparison started or if you have any questions, you can email me at valerie@paymentdepot.com.
Thanks,
Valerie
This comment refers to an earlier version of this review and may be outdated.
Learn More About Our Preferred Lenders
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Hi Tom,
Thank you for creating this awesome informative forum. I’ve been shopping around for a merchant service provider and thought I got a good deal through a different vendor until I read your forum. I’ve spent my Sunday reading through most of your blog and have narrowed it down to two different providers but do not know which is the most cost saving. I’m leaning towards Payment Depot but would like to know what your thoughts were. I own an auto repair shop and credit card sales ranges from $25k-$40k a month. Our repair orders ranges from $40-$4000 and we have about 75-100 transactions a month. With the Payment Depot annual fee of $399, it seems like the best deal but what happens if my credit card sales exceed $40k a month? Also, the other provider I was looking into was Helcim. At a lower volume, it would make sense to go with them but considering we are an auto repair shop, our sales volume are typically in the $30-$40k credit card sales. Please help me to find the most cost saving merchant service provider. Thanks in advance, Tom.
This comment refers to an earlier version of this review and may be outdated.
Hi Tina,
I would try Dharma Merchant Services.
This comment refers to an earlier version of this review and may be outdated.
Is this company even still valid?
I go to their website, and just get a blank white page. Not even a 404….
This comment refers to an earlier version of this review and may be outdated.
Hi Dale,
The site must have been experiencing technical difficulties. It seems to be working now. They are still very much in business.
This comment refers to an earlier version of this review and may be outdated.
It must be at my end then. I can’t seem to get anything. Could be because I’m in Thailand at the moment.
This comment refers to an earlier version of this review and may be outdated.
Dale,
Sorry that you are not able to access our website. We have the site blocked outside of the United States. This industry experiences a large amount of fraudulent inquiries from overseas so we decided to limit our website to the United States. I am sorry for the inconvenience, but please feel free to reach out to us at sales@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
We have a small restaurant & have been using First Data via our bank for approx. a year now. They have just raised our rates. Their customer service is excellent & their payments are timely. I will be talking to them Monday about buying a new chip terminal. Can you give me some advise on what to negotiate ?
This comment refers to an earlier version of this review and may be outdated.
Hi Teresa,
this is Valerie from Payment Depot. I noticed that you said your rates were being raised by First Data and wanted to let you know more about our Pricing Structure at Payment Depot.
We charge our merchants a low annual membership fee and then our merchants get the wholesale rates directly from the card brands. This means your rates never increase unless the card brands (Visa, MC, Discover, Amex) decided to raise them. We would love to talk to you about finding a solution for your business and getting you a chip card reader too. Don’t hesitate to contact me at valerie@paymentdepot.com
In terms of negotiating with your current processor, I would say that you should make sure to remind them you have many many options when it comes to payment processing and you may be able to find a better deal somewhere else.
This comment refers to an earlier version of this review and may be outdated.
Hello Tom,
We are clothing manufacturers who would like to know which cc processors you recommend for a strictly e-commerce website? (initially low volume)
We have an established retail store, but this will be totally separate.
Carol
This comment refers to an earlier version of this review and may be outdated.
Hi Carol,
Thanks for writing! For low-volume e-commerce, my first choice is CDGcommerce. The gateway is included for free, and monthly fee is only $15. No monthly minimum, no early termination fee.
I also like Payline Data for low-volume because they have a $5 per month plan, but it might end up being more expensive than CDG in your case when other costs are added in.
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred eCommerce Platforms 🏆
Start Free
Read Review
Start Trial
Read Review
Start Trial
Read Review
Start Trial
Read Review
Price
Free Trial
Ease Of Use
Start Free
Start Trial
Start Trial
Start Trial
We've done in-depth research on each and confidently recommend them.
Tom,
We are considering changing processors, and we’re wondering if you have written anything advising what to watch out for when reading “term & conditions” …
For instance, is it standard for a processor to expect quarterly financial statements on your business?
Carol
This comment refers to an earlier version of this review and may be outdated.
Hi Carol,
That’s not usually an enforced rule, but the processor does usually retain the right to demand such documentation at their own discretion. For a new business without a processing history, or for businesses in certain industries, this sort of documentation might be requested regularly from the outset because there is a increased level of perceived risk from the processor’s standpoint. They use this sort of documentation to make sure the business is legitimate.
We haven’t written extensively on the finer points of processing contracts, mostly because a lot of these points are industry-wide and non-negotiable. Unfortunately the merchant has to sign away a lot of rights in order to open a merchant account. But we do tell merchants to be wary of things like early termination fees, liquidated damages, and auto-renewal clauses, all of which are negotiable contract points. We also encourage merchant to at least familiarize themselves with the contract section regarding reserves, holds, and chargebacks. Although these points are not generally negotiable, they are important to be aware of.
Hope this helps! Good luck.
This comment refers to an earlier version of this review and may be outdated.
I’ve joined Payment Depot for almost a year now. We were able to save a little bit of money compare to our previous merchant. Lately we’ve had issues with cards being declined, payment process duplicates, transaction email notification no longer works. I’ve tried email support a few times for a couple of different things but never a response back. Calling support doesn’t help much either. I’m calling it it quit and back on Merchant Maverick for another merchant provider.
This comment refers to an earlier version of this review and may be outdated.
Hello,
this is Valerie from Payment Depot. I am sorry to hear about the issues you’ve been having with your account and would love to work with you to get these issues resolved.
Has this been happening for the entire year or is it something that has come up recently?
In order to move forward you can send over an email to valerie@paymentdepot.com or reach out to your account manager (the person who you spoke to when you signed up). At Payment Depot we want to make sure our members are taken care of and are satisfied with all aspects of their membership.
Please do not hesitate to contact me!
–Valerie
This comment refers to an earlier version of this review and may be outdated.
This had just came up recently. The issue was resolve several days later. It is happening again today. We were on the phone with support for an hour with no resolution.
This comment refers to an earlier version of this review and may be outdated.
I’m sorry to hear you are having an issue with your account, again. We are doing everything we can in order to resolve the problem and appreciate the time you’ve given to support.
This comment refers to an earlier version of this review and may be outdated.
I am having a tough time getting my high risk account approved.
any suggestions… payline data cant approve a canadian high risk account.
cheers,
Ben
This comment refers to an earlier version of this review and may be outdated.
Hi Ben,
I would try Durango Merchant Services and Instabill.
This comment refers to an earlier version of this review and may be outdated.
I saw lots of people promoting cost plus plan as preferred. Then I realize none of the writers were actually a business owner. Our business averaged 1.4 to 2.0% on exchange fees every months. That is the cost. Our volume is much higher than 400,000 a year. With the monthly fee they charge, it effectively adds 1 whole percent. So the effective rate is 2.4 to 3%. Much higher than spark charges. A real business owner with statement every month will see the payment depot is VERY expensive UNLESS all your customers use debit card.
This comment refers to an earlier version of this review and may be outdated.
Hi Ethan,
The mid-grade monthly plan only costs $33 monthly if paid annually. That’s 0.10% of $33,333 per month ($400K per year), not 1%. Plus $0.15 per transaction. A markup of 0.10% + $0.15 is not bad, especially when there is no added monthly fee (as you know, most processors charge a monthly fee). If processing a traditional rewards credit card, the interchange would be 1.65% + $0.10. No matter who you process with, you must at least pay this much obviously. With Payment Depot, the total cost is only 1.75% + $0.25 in this scenario. With a gateway and virtual terminal. No monthly fees! Most processors will charge at least $7 as an admin fee, plus maybe $10 for the gateway. That’s $17, bare minimum, without PCI fees. This means that PD’s monthly markup is really more like $16, which is 0.048% + $0.15 on the mid-grade plan paid annually given $400K per year. Starting to look pretty good?
If you are paying as low as 1.4% as your effective rate (including all annual and monthly fee, etc.), then please send me the name of your agent. I would love to send him or her a whole lot of business. Otherwise you must be processing a whole lot of large debit transactions, because 1.4% is well below actual cost for literally all credit transactions.
The reality is that even though I and other reviewers are not usually business owners that take credit cards, we in fact review many more processing statements than most business owners do. Cost plus isn’t always the cheapest option, sure, but it often is. And it’s always the easiest to make sure you’re not getting ripped off with. Plus we have to consider that subscription pricing like what PD offers is not exactly the same as cost plus.
So I hope you’ll give Payment Depot a second look. Remember to move the decimal place over! 🙂
Best,
Tom
This comment refers to an earlier version of this review and may be outdated.
Hi Ethan,
I’m glad you wrote in. My name is Valerie and I work at Payment Depot. I see that you have some concerns about whether or not we offer real savings to real business owners. What I can say is that we completely stand behind our service and are an honest group of people looking to give fair prices to business owners. If you can, I encourage you to check out our testimonial section of our website. It features real Payment Depot members and their real savings.
That said, I would love to offer a free, no commitment statement comparison to you. We would compare your current credit card processing statement to what your statement would look like at Payment Depot. I can’t promise we will save you money (though I am very confident), but I can promise we will be 100% honest with you. If we can’t save you money, we will let you know. Email me at valerie@paymentdepot.com if you want to start the statement comparison or if you have any other questions!
This comment refers to an earlier version of this review and may be outdated.
$400/400,000 is 0.1%, not 1%.
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred Credit Card Processors 🏆
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
No early termination fee
Pricing model
Rate matching / Negotiable
Visit Site
Visit Site
Visit Site
Visit Site
*All of our preferred processors use fully transparent Interchange-plus pricing.
We've done in-depth research on each and confidently recommend them.
Correct me if I’m wrong but the first two payment plans do not come with a terminal nor any device that allows people to actually swipe cards, in which case a retail merchant is paying on average 0.5%+ more in Interchange rates due to the difference between swipe and key entry (whether it’s debit or credit). This means forfeiting around $100/m for every $20k in sales volume. On top of this the owner must always be around for transaction purposes because he or she owns the phone or IPad that handles purchases. Also, I’m curious as to just how wise transmitting highly sensitive payment information via a smart phone or IPad actually is. It has to be one of the most insecure forms of payment at best.
This comment refers to an earlier version of this review and may be outdated.
Hi Stephen,
The first two plans do not include the cost of the machine, but you certainly can buy one and use it with Payment Depot. They do this in order to keep the price on these plan low, so that those who do not need the machine do not have to buy it just to sign up. EMV-compliant machines start at around $250. Instead of using the traditional countertop machine, you can use a headphone jack swiper (about $50) and process via a smartphone or tablet. The data is encrypted by the reader and never actually enters your phone, so this is a very secure method. Just because the owner owns the device does not mean that he or she can’t allow an employee to operate the device. Business owners should consider purchasing a dedicated device.
The other option is to key in card payments. In general, it is not a good idea to key in card-present transactions. By doing this, as you mentioned, you would miss out on interchange savings and also increase your fraud risk. Keyed entry should be reserved for telephone order, mail orders, and other card-not-present transactions.
Hope this helps!
This comment refers to an earlier version of this review and may be outdated.
Hi Stephen,
my name is Valerie and I work at Payment Depot. Thanks for writing in. You are right that we do not offer free equipment on the first two plans, but this is in an effort to keep costs low for all members, not to force people to pay the higher keyed in fees.
We can reprogram about 90% of terminals out there and we find that many merchants do not need any new equipment. For the merchants who do need new equipment, we offer a variety of terminals at wholesale costs. We’re taking every step we can to help our members save money.
Like Tom mentioned, we do have options for accepting payments with a headphone jack swiper or a virtual terminal and like he mentioned they are secure. I would be happy to answer any more questions. You can reach me at valerie@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
I *really* wanted to like Payment Depot. The signup process was painless, the support is top-notch, and interchange plus zero pricing is very attractive.However, after I went through the whole signup process, I was given First Data’s number for support and found out this is just a First Data reseller. I felt deceived that I was not informed of this up-front.Like many other merchants, I would never in a million years ever do business with First Data again. To quote Merchant Maverick’s review itself, “First Data also has a tendency to hold funds or shut accounts down at the drop of a hat.”.It doesn’t matter how good Payment Depot’s pricing or service is, until they get this corrected and hook up with a reputable processor, they are a completely unacceptable business risk. I’d rather pay higher fees and sleep easier at night than save a few dollars and constantly be wondering when First Data was going to screw me over.
This comment refers to an earlier version of this review and may be outdated.
Hi Ivan,
I certainly appreciate your concern, which is why we made it clear in the review here that Payment Depot uses First Data as their processor. First Data has certainly burned a lot of merchants over the years, as you can see in various complaints on our site and across the web. But Payment Depot does more than just put a new label on a First Data contract. Based on the merchant’s I’ve spoken with who use Payment Depot, this company seems committed to customer satisfaction. By helping merchants to avoid risk and avoid the most costly portions of a standard First Data contract, Payment Depot seems to be performing well in terms of keeping accounts stable and inexpensive, and resolving any complaints that might come up quickly. That’s way more than we can say about First Data and most branded First Data resellers.
The fact is that there are a lot of decent processing providers who use First Data on the back end. When handled correctly, there’s no reason why FD accounts can’t be reliable and cost-effective. But at the same time, I completely understand that merchants who have had a bad experiences do not, under any circumstances, want to give First Data another dime of their money. For this reason, we make sure that it is clear in the review that FD is used as the processor.
Funding holds and account suspensions are always possible no matter who the processor is. Check out this article for some tips on avoiding these issues.
If you’re interested in a different option with similar pricing, check out Transparent Merchant Services. I’m not 100% sure who their processor is, so you should ask that upfront. But they may be worth a shot.
Good luck,
Tom
This comment refers to an earlier version of this review and may be outdated.
Hi Ivan,
My name is Valerie and I work for Payment Depot. I wanted to reach out to you just to say that I’m sorry you felt deceived about us using First Data as our processing bank.
While I understand your hesitation to use Payment Depot because of your previous negative experience with First Data, I have to say I’m bummed. At Payment Depot we believe in our service and are working really hard to make sure our members feel taken care of.
If you reconsider in the future we would love to have you back, but in the meantime I hope you find a processing company that will meet all of your needs.
Please don’t hesitate to contact me with any other questions or comments: valerie@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
I was going to try Payment Depot until I read the words “First Data.” For many merchants, First Data triggers post traumatic stress. Just kidding. Sort of. I’m in the “no way in heck will I ever go near First Data again” group.
This comment refers to an earlier version of this review and may be outdated.
Valerie,I saw Ivan’s comments and immediately understood his frustration, for my experience has been very similar to his. Payment Depot has, in fact, been a dilemma to me: on one hand, first-class customer service. Randy handles my account and I have only positive things to say about him: hard-working, diligent, professional, courteous. He has taken a significant amount of heat from me and has remained professional, although he has gotten close to insinuating that I take my business somewhere else, on one occasion. I am considering his near-suggestion, but have not made up my ind yet.On the other hand, First Data. I can’t say that my experience with FD (and, consequently, with PD) has been bad. It has been CATASTROPHIC. Last year I lost $2K on a chargeback situation because Payment Depot did not provide me enough information so that I could address the situation properly. Randy addressed this by waiving my fees for 48 months, which cut my losses in half. This year, my company was the victim of a fraud case in early March and now, 3 months later, I am still having to dedicate hours to sorting this out, with Randy. It’s a nightmare. Money simply disappears from my account – in large sums ($5K, $10K, $15K), from time-to-time, without any warning. Funds are withheld, from time-to-time, without warning. I have to monitor my bank account daily for new surprises.I keep hearing that “this is First Data’s fault,” but that just doesn’t do it for me anymore. Payment Depot is the company I hired, not FD. I think it is a shame that you, as a company, work hard to provide such high-quality customer service and, at the same time, allow your customers to struggle so much by having FD as your bank. So, yes, this is a very mixed review. My advice to anyone considering Payment Depot: eventually, a chargeback or fraud situation will happen to you. It’s inevitable. When that happens, be ready to dedicate many, many man-hours (and, subsequently, dollars) to working on the issue with PD.
This comment refers to an earlier version of this review and may be outdated.
I’m still trying to decide if making the jump to Payment Depot is a good idea for my restaurant or not. I’m currently using Mercury, without any issues, except their high fees. It’s gonna be a big hassle for me to switch. Your review was very insightful.
This comment refers to an earlier version of this review and may be outdated.
Hello David, thanks for your interest into Payment Depot. Feel free to contact me if you would like to get more information and figure out if we are the right fit. I can provide you with actual statements from other restaurants that use us as well. We have no contracts or cancellation fees of any kind and have a full 90 Day risk free trial.
James Britton
Sales Manager | Payment Depot
(714) 922-9984
jbritton@paymentdepot.com
This comment refers to an earlier version of this review and may be outdated.
Marcelo,
Again I apologize for the situation that you are in. This was a very complicated situation that was compounded by human error at the processing bank as well as the complicated systems of multiple large banks. This is not an excuse, and we have been working hard with First Data to resolve this. I know that I have spent over 30 hours working on this over the last 2 months, and I would do it again for you or any other member at Payment Depot. The initial fraudulent transactions that were caught by you should have been handled promptly by First Data when we alerted them about it the same day it happened. The issue was compounded by a human error at the processing bank which caused this whole string of events. Unfortunately at First Data, Discover and Chase, their systems are extremely automated so even when the proper forms are filed, if there is a chargeback in the system, it could still trigger the issuer to withdraw the funds from your bank account. All of the funds are being pulled by the actual issuer so Payment Depot and First Data have little to no control over what happens. On one occasion we even pre funded the money back to you that was pulled by Chase so that you would not be without the funds until they correctly reversed the chargeback. You have every right to be angry and I am angry about this situation too. You have every right to post this mixed and angry review and I don’t blame you for doing it. The bottom line is that we let you down. Whether it was the fault of the processing bank or not, you signed up with Payment Depot and despite our best efforts, you are still not satisfied so we must take the blame. It is my responsibility to defend my company and while I hate having to post a reply publicly, I don’t have a choice. This was a very unique and isolated incident and one that I have not seen before. I am dedicated to the continued fight of getting everything corrected on your account and making sure that you can just focus on your business again and not banking issues. Marcelo, I hate that this is happening to you and your business. I hate that after two months this is still not resolved. I am sorry and I will continue to work to get this corrected for you. We are sorry for letting you down.
This comment refers to an earlier version of this review and may be outdated.
Check Out Our Preferred Point of Sale Software 🏆
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Visit Site
Read Review
Best For
Monthly Fee
Free trial
Visit Site
Visit Site
Visit Site
Visit Site
We've done in-depth testing of each and confidently recommend them.
I signed up with Payment Depot a little over a month ago to provide credit card processing for my new business. The initial call with sales was excellent and the rep was able to answer all of my questions and had my account established with an Authorize.net gateway. The entire process occurred quickly and painlessly. A+ experience. The downside that I have experienced so far is that my phone, a Samsung Galaxy S5 Active, does not recognize the readers that are supposed to be used with the Authorize.net application. Both readers are made by ID Tech and on the product information page, my phone is listed as supported. The Authorize.net product page takes you to the ID Tech page for product compatibility lists, so according to the documentation, it should work. It doesn’t. This is not necessarily a hit against Payment Depot in my opinion (since the available literature indicates my phone should be supported), but rather a hit against Authorize.net. They do not have any documentation published that indicates their application has a different compatibility list than the reader itself, but rather imply that their app supports all of the devices on the reader’s compatibility list (which it does not). I have made numerous calls to all three companies (Payment Depot, Authorize.net, and ID Tech) in attempts to resolve the problem, but no luck yet. The latest word is that a ticket has been submitted to the tech gurus at Authorize.net to add the Galaxy S5 Active (not to be confused with the standard Galaxy S5…that phone works fine) as a device compatible with their app. In the meantime, I would suggest that Payment Depot (and honestly, any other company that deals with Authorize.net) contact Authorize.net and get a list of devices directly from them that their application supports, since it is apparently different (and FAR shorter) than the list of devices supported by the reader itself. With an accurate list, I have no doubt that Payment Depot could help save people like me a great deal of headaches by telling them upfront which devices will absolutely work with which service(s), and which will not. On the plus side, the customer service people at all three companies were very polite and tried to provide what help they could, even if ultimately they could not resolve my issue. Due to this problem, I cannot yet comment on any other aspect of Payment Depot since I have not yet been able to use the service, but I can give very high marks for their customer service at all levels that I have experienced.
This comment refers to an earlier version of this review and may be outdated.
Hi Jeff,
this is Valerie from Payment Depot. I’m glad to hear you’ve had a pleasant experience with our sales and customer service departments.
Thanks for the input, we will have to look into getting a device compatibility list from Authorize.net.
If you ever feel like different equipment would benefit you, feel free to give our tech department a call and they can go over the equipment options available to you.
Thanks!
This comment refers to an earlier version of this review and may be outdated.
I am currently talking with Payment depot to set up an account with them for online payments and was told that they use Authorize.net. It was mentioned previously that they do not.
This comment refers to an earlier version of this review and may be outdated.
Hi Simeon,
at Payment Depot, we can set you up with Authorize.net, but we also have another gateway, our free virtual terminal for our members.
Let me know if you have any further questions!
This comment refers to an earlier version of this review and may be outdated.
Liked the article. We are thinking of changing providers as we have FD and even though we did negotiate good pass through rates, they keep creeping up. My question is – Do we need to have any worry that Payment Depot will go out of business and could we be hurt through non payment if they did ? Or does Visa / MC Discover cover this if any problem. They are very new Company and we can;t risk them keeping our charges if something happened to them.
This comment refers to an earlier version of this review and may be outdated.
Hi Jeff,
great question, this topic is definitely something to think about as a business owner!
Payment Depot’s sponsoring bank is Wells Fargo, so in the case that something did happen to us, they handle the risk for your transactions and would make sure you do not lose your money.
I hope I can also give you piece of mind by letting you know that Payment Depot actually stemmed from another company in this industry that was started in 2004. So, everyone in our office has at least ten years of experience in the industry.
Please don’t hesitate to contact me if you need any more information. (valerie@paymentdepot.com)
This comment refers to an earlier version of this review and may be outdated.
First of all, let me just say thank you, thank you, THANK YOU to Merchant Maverick for doing what you do! I’m pretty sure, by now, I’ve read more Tom DeSimone & Dave Eagle words of wisdom to last a lifetime! :)As a small business owner who is launching a retail shop completely on my own, I find myself spending hours and hours on end perusing your site (and loving it). Who knew POS, credit card processing, and inventory options were so meticulous & abundant?! Even I (who have EXTENSIVE experience in retail management) completely underestimated the plethora of detail all these categories entail. The small companies & corporate chains that I’ve opened & managed shops for have always had these systems in place. I never dreamed it would be so complex until starting from scratch myself.Thanks to you, I’m gathering priceless research, doing extensive homework, and putting sales reps through the ringer with questions that I wouldn’t have even thought to ask if not for your detailed, well put-together reviews & thorough analysis. I just wish I would have found you before a VERY BAD mistake I made with a terribly shady credit card processor.Apologies for the digression…I just wanted to chime in with my preliminary experience thus far with Payment Depot. Thanks to your site, I will be moving forward with their Best Value Membership plan for at least one of our businesses in the coming weeks. After an absolute nightmare experience with another company, I honestly would pay a hefty premium for the transparency that Payment Depot provides. I’ll be sure to provide updates on their services once we’re actually up & running.Working with Payment Depot so far in the preliminary process has been a tremendous breath of fresh air. I’m currently working with them on finding the best integration for Inventory & POS as we set up our logistics before company launch. I’m a numbers, projections, and spreadsheet kind of girl. Payment Depot is exactly what I need…don’t sugar coat the fees or lie to me. Tell me exactly how much it will cost so I can budget accordingly. That’s exactly what they provide.I’ll leave a separate review for said nightmare company on their review page within your site, but needless to say it’s been stressful hours & days of my life spread over months now that I’ll never get back. It pretty much couldn’t have been a worse experience: constant misc. fees they won’t stop deducting from my acct under two different companies (some transactions of which they claim they can’t even find), stop payments to multiple sources, hidden fees, straight up lies from their sales rep, unprofessional customer service, an ongoing complaint being mediated by the BBB, recorded conversations and documentation, and now the possibility of taking legal action since the matter is still unresolved. All of this BEFORE I’ve even swiped a single transaction. At this point, it’s more about the constant stress and the moral principal than the outlandish fees they try to sneak by (that they DIRECTLY stated multiple times would not be assessed). If they told me up front that it would cost exactly what they’ve charged, I would have been prepared and able to stomach it. It’s the lies, deceit, unstoppable battle of phone calls, waiting on hold, and barrage of unanswered emails to sort through everything that kills me.After that (as backwards as it sounds), I would welcome paying MORE for a company with absolute transparency…but with Payment Depot I get that already included. After the months of research and bad experiences I’ve collected, I feel like Payment Depot could truly revolutionize the credit card processing industry. Let’s hope they are starting a trend that other companies catch on and follow suit.Thanks again for all of your wonderful guidance across multiple categories. I will be sure to update with reviews of each of the companies we move forward with (all of which, will be decided utilizing the invaluable input of your thorough reviews & user feedback).
This comment refers to an earlier version of this review and may be outdated.
Hi Grace,
this is Valerie from Payment Depot. We are so glad to hear about your experience! Thank you for your review and please do not hesitate to get in touch with us if you ever have any questions about your membership.
This comment refers to an earlier version of this review and may be outdated.
I started up with them anyway. Same business and bank account. Just want to use our website and a terminal. They said I have to swipe through my phone (and are sending me the attachment). Trying to figure out what we’ll do when I’m not there… I’ll update in a month or so once we’ve had a chance to work it out. Definitely would prefer not to key it in, don’t have a computer there full time (use a laptop) so the USB reader isn’t perfect either.
90%+ of our stuff is online though… thanks.
This comment refers to an earlier version of this review and may be outdated.
Not ideal, but maybe consider picking up a used iPod Touch (assuming wifi access is available/reliable) to leave in the business. Payment Depot uses the Roam Pay app to process payments, which works with the iPod touch (3rd generation or higher I believe, but you should confirm this with them). This will probably cost about $70 to $80 on eBay, and won’t require data fees.
Definitely keep us posted.
-Tom
This comment refers to an earlier version of this review and may be outdated.
Hi Pat,
This is Valerie from Payment Depot. I’ve read through your comments here and just wanted to reach out to you to see if you have any further questions about our services and your technology. I can definitely have our tech support customer service reach out to you to continue with this process.
At Payment Depot we strive to provide excellent customer service and make sure you are 100% satisfied. Please let me know if we can provide any support.
Thanks,
Valerie
This comment refers to an earlier version of this review and may be outdated.
Learn More About Our Preferred Lenders
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
Get Started
See Our Review
I’ve been looking into it and here’s a problem that I’m running into. They are telling me that I can’t have a terminal and take internet payments with the same account and that I’d need to have two accounts to do that. I’m having trouble making some sense out of it. The only solution that I’ve been presented with would be to get an account for our online payments and a device to plug into my phone’s headphone jack to swipe cards. That would require me or someone with the app on their phone to be there at all times.
This comment refers to an earlier version of this review and may be outdated.
Hi Pat,
That sounds unusual to me. Are these two outlets part of the same business? Is the money going into the same bank account? If so, a different provider will likely be able to set you up with a single merchant account. But it’s possible there is something about your specific processing needs or business type that makes this not an option.
Would it work for you to process payments in-store with the virtual terminal instead? You can use a USB card reader through a computer instead of phone-based processing. You can also just type in the card info with the virtual terminal, but that is not ideal because it will cost more to process in term of interchange.
You’ll have to do the math for your specific business, but I would 1) Figure out if it’s possible to get by with one account at Payment Depot, 2) If not, figure out what it would end up costing you per month with two accounts, and 3) Get a quote from a different processor to see if someone else would be willing to set you up with just one account, and what that would end up costing you in comparison to your Payment Depot options.
Please let us know how this turns out or if you make any progress.
Good luck,
Tom
This comment refers to an earlier version of this review and may be outdated.
I was just told the same thing and feel that this is really strange. No other company that I have talked to have said that you need two accounts. What did you wind up doing? Were you able to use just one account?
This comment refers to an earlier version of this review and may be outdated.
Tom,
Thanks again for the update to your review. I hesitate to comment again because I don’t want to give the appearance that I am controlling your reviews but I also like to say thanks to Merchants and reviewers who have nice things to say about us. Your review is correct that not every business is a good fit with Payment Depot and all of our sales associates are instructed to direct people towards Square or Paypal if the merchant does very low volume. While we welcome any business that we can get, we also want our customers to actually see savings. There are enough people out there who will save money with us, that we don’t have to sign someone up for a plan that doesn’t suit them. Basically anyone who is doing less than $2500 a month or does lots of very small transactions, we will tell them what to expect with us, but also tell them to look into Square or another alternative that may have a higher rate but no monthly fees. Thanks again for the kind words, we are trying to change the industry and welcome any and all feedback.
This comment refers to an earlier version of this review and may be outdated.
Hi Randy,
Thank you for stopping by and offering some insight. That sounds like a good guideline. If you’re ever in the market for another low-volume/mobile processing partner, we’ve had great experience with Flint, although not as feature-rich as Square or PayPal Here.
I’m glad to receive your comments publicly, and I’m sure that our readers will interpret that as transparency rather than collusion!
Take care,
Tom
This comment refers to an earlier version of this review and may be outdated.
Tom,
Thank you for the favorable review of our company. We take all suggestions to heart and we have made some changes to our website and even added a video http://paymentdepot.com/how-it-works/
to better explain our program. We want to be transparent in an industry that thrives on hidden fees. We believe that we have the cheapest and best processing solution for most businesses. We will even give merchants other options if we don’t think that they will benefit from our membership! I hope you have a chance to review our updated website and watch our new video that explains how it works.
Thanks again
Randy Hayashi
Payment Depot
This comment refers to an earlier version of this review and may be outdated.
Hi Randy,
Thank you for stopping by. I look forward to checking out the new content. Payment Depot is one of the more interesting companies we’ve reviewed this year, and I am sincerely excited to watch your progress and keep our review updated throughout the process. Always appreciate the heads up on new developments! If you ever have the opportunity to point your users to our site, we love to hear merchant feedback on the companies we review.
Tom DeSimone
This comment refers to an earlier version of this review and may be outdated.
Hi Randy,I want to know that you provide any service that we implement in our website and people can pay through your payment depot service. Like any PHP script or library.
This comment refers to an earlier version of this review and may be outdated.
Hi Amit,
Thank you for stopping by. You can check out Payment Depot’s contact page here for the quickest response to general questions. I’m not sure what developer tools are available for their included gateway. For complex payments tasks you might want to upgrade to Authorize.net, integration with which Payment Depot does support. Let us know how it goes!
Best,
Tom
This comment refers to an earlier version of this review and may be outdated.
Hi Amit,
This is Valerie from Payment Depot. I would be happy to have one of our tech support representatives reach out to you and answer any of your questions.
Thanks,
Valerie
This comment refers to an earlier version of this review and may be outdated.