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Payment Depot Review

Overview

Payment Depot offer a very different business model and as a result they do not profit from the rates that they charge, instead they simply charge clients the same fee they have to pay to the credit card brands. Due to this business model, the focus for Payment Depot is really about helping their customers to grow and to make money rather than helping their own profits. For smaller businesses who are looking for a supplier who can help them grow, this partnership could be the perfect option for you.

Payment Depot offers the full spectrum of processing services, including: merchant accounts, online shopping carts (with SSL support), point of sale terminals, real-time processing and recurring billing. Alongside these traditional services, Payment Depot also allows added flexibility to customers by allowing them to cancel at any time with no penalty.

Payment Depot has a great reputation for security and is PCI compliant. For customer service inquiries, the team at Payment Depot are on-hand to provide customer service 24 hours per day, 7 days per week.

Payment Depot Review
CategoriesRating
Features
Fees
Contract Flexibility
Summary
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Services and Features

  • Industries Served: B2B sector, distributors, e-commerce sites, restaurants, service providers and small businesses.
  • Accepted Cards: American Express, Discover, Visa and Mastercard.
  • Payment Solutions: Gateway payments, machine payments, mobile and telephone payments and virtual payment terminals.
  • Contract Type: None.
  • Activation and Setup: No sign-up fees, no contract and no cancellation charges.
  • Administrative Fees: $20 monthly account fee, $20 monthly minimum fee and $20 monthly gateway payment fee for online payments.
  • Transaction Rates & Fees:
  • $0.10 for retail credit transactions
  • $0.25 for retail debit card transactions
  • $0.19 for online transactions
  • Clients pay:
  • 1.54% of the retail credit transaction
  • 1.39% of the debit card transaction
  • 1.8% of the online transaction

You can compare Payment Depot to other leading credit card processing companies by filling in our form.

The Expert Market Verdict

Payment Depot has been marked as a company who listens to the feedback received from customers. Noticeable improvements have been made based on this feedback, which will be extremely reassuring to any new company looking to get their first credit card processing supplier.

With an unconventional payment plan, you pay Payment Depot a flat monthly fee, which means that your costs will be predictable, allowing you to budget effectively. A discount is also available to those who choose to pay their fee annually.

Despite being a relatively young company, Payment Depot processes accounts through First Data who are arguably one of the biggest processors in the industry. Keep in mind that despite this, customer service inquiries will still be dealt with through Payment Depot.