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Payment Depot

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Payment Depot Credit Card Processor Review

Payment DepotPayment Depot


Month to month payments
No setup or application fees
A+ BBB accredited company
Excellent 24/7 customer support


Not suitable for high risk businesses

Quick Stats

Customer Support
Fair and transparent rate structure
Not Available
$79 per month
Strong uptime record
Not Available
Transaction speed
24 Hours

Payment Depot is a US-based company that aims to help businesses find more budget-friendly and simple payment processing options. The business started in 201‪3 and served a wide range of industries.

The company earned its place on the best credit card processors list by offering a handful of features and efficient payment processing solutions. However, making up your mind on a provider that serves your business can be overwhelming. Our part is to let you know more about Payment Depot's credit card processor and decide whether or not it's the right choice for you.

Brief of Payment Depot Top Perks

In a nutshell, here's what to expect with Payment Depot:
1. No setup or application fees
2. Month to month payment
3. Excellent 24/7 customer support
4. Transparent pricing policy
5. A+ BBB accredited company
6. 90 days money-back guarantee

Get Started With Payment Depot!

Payment Depot credit card processor accepts major debit and credit cards for almost every business type. The services include Clover POS system, EMV card processor, eCommerce solutions, mobile apps, and business funding.

If your business falls under any of these categories, we suggest reading through our Payment Depot credit card processor review:

  • Hair and beauty salons: Payment Depot helps give your customers a smooth experience while lowering expenses at the same time. The company doesn't cut out of your sales. Instead, it charges you a flat fee every month.
  • Healthcare: The healthcare section requires special features that help dentists, doctors, and nurses reduce expenses. Using a credit card processor with a flat monthly fee saves much while processing payments.
  • Pet groomers: Pet grooming is growing fast lately, and with more people getting pets every day, we expect this industry to continue growing. This fact requires better ways to process payments and encourages more people to use these services by offering smooth and simple technology. According to Payment Depot's official website, the service can save businesses an average of $400 per month.
  • B2B businesses: Every B2B business seeks a credit card processor with lower processing rates to save on payment processing. Payment Depot uses a gateway called PayTrace. This gateway can automatically fill out the transaction data, so you can benefit from the lower rates that come with data of levels II and III.
  • Retail: Credit card processors are convenient, but this convenience comes with a price, and if you use a traditional merchant services provider, you can expect to pay more the higher your processing volume gets.
  • Restaurants and bars: Payment Depot offers cost-effective credit card processing for restaurants and bars. On the website, the company states that restaurants can save up to 40% when using Payment Depot.

Payment Depot Credit Card Processor Features

Payment Depot offers jam-packed credit card processing solutions with the ability to customize your plan to what your business needs. Here is what you'll get with Payment Depot plans: 

Merchant account

Payment Depot partners with Fiserv and TSYS, two of the best credit card processors on the market. Payment Depot does the heavy lifting for you; it sets up and manages your merchant account. 


Point of sale system (POS)

Payment Depot's credit card process offers Clover POS systems, including Clover Mini LTE, Clover Station, and Clover Station Pro. For merchants onboarded with TSYS, the company provides the Vital Select POS system.


Mobile payment

Payment Depot provides a mobile app compatible with Android and iOS, and the application is offered by the third-party SwipSimple app that works on smartphones and tablets. 


Business funding

Payment Depot users can make use of its business funding option that can go up to $500,000 and for competitive rates for as long as 18 months. However, business owners must have at least a 500 credit score.

Payment Depot Pricing

Many payment processors mark up the interchange fees, but Payment Depot works differently; it charges membership fees that range from $79 to $199 a month and a fixed 7 to 15 cents per transaction.

Payment Depot can be a much more affordable option for medium to large businesses with high-volume transactions. However, small companies are recommended to do some math, discuss the estimated cost with one of the company's agents, and find out whether or not Payment Depot is a more cost-effective option for them too.

Payment Depot doesn't charge account or set up fees on any of its plans. It also offers free PCI compliance, which other credit card processor providers usually charge. It's easy to try the service without worrying about long commitments since there are no contract or cancellation fees.

Payment Depot Credit Card Processor Plans


Not many credit card processor providers disclose the plans and pricing on the website to let people know how much it might cost. On the other hand, Payment Depot is appreciated for its transparency regarding both solutions and cost. It hides nothing from its potential customers and makes it all clear from the get-go.

When you visit the website, you'll find three different plans presented by the company: Starter Membership, Most Popular Membership, and Enterprise Membership. Here are the current details of each plan:

Get Started With Payment Depot!

Starter Membership

The Starter plan is designed for small and mid-sized businesses and is available for $79 per month. It comes with a 50,000 maximum monthly processing limit. If you run a small business, this plan offers a basic terminal or mobile card reader, a virtual terminal, and access to the Authorize.Net gateway for no additional charge. 

  • $79 monthly fee
  • Interchange + 0% + $0.15 per transaction
  • $50,000 monthly maximum processing volume

Most Popular Membership

This plan is ideal for larger enterprises with more transactions to process. It's available for $99 per month and allows businesses to process up to $150,000 transactions. In short, this plan comes with the following:

  • $99 monthly fee
  • Interchange + 0% + $0.10 per transaction
  • $150,000 monthly maximum processing volume
  • Data breach protection included


Enterprise Membership

Enterprise Membership is suitable for large businesses, and it allows $300,000 and more of transactions with the lowest processing rates among all the three plans.

  • $199 monthly fee
  • Dedicated account manager
  • Breach protection
  • $300,000 and more of transactions


Payment Depot Ease of Use

The solutions presented by the service are integrated with a variety of hardware and software platforms, such as Clover, Authorize.Net, and SwipeSimple. Additionally, some plans come with free hardware, which is an added value that small businesses can make use of.

Pricing is straightforward and easy to understand, and for smoother payment processing, you can use mobile card readers and accept payments from mobile wallets, such as Apple Pay and Google Pay.

The company has excellent customer support options, including phone support, email, and a handful of blogs on almost every issue you have in mind. You can also visit the company's social media accounts on Facebook, LinkedIn, and Twitter.

Get Started With Payment Depot!


Payment Depot is different from the majority of other payment processing services by offering fixed monthly membership, making it a more affordable option for businesses of all different sizes. If you run a small business, we suggest weighing your options and making sure that Payment Depot is worth trying since the fixed membership can be more cost-effective for mid-sized to large companies than small businesses.



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