Payeezy vs. Payment Depot: Features, Pricing, and Merchant Ratings
Choosing the right payment processor for your business is critical. It’s the backbone of your sales. It’s the crux of your customer service operations. And it will power your business through its various stages of growth.
Payeezy and Payment Depot are two popular payment processors you’re bound to come across in your research. Both are reputable and offer a suite of features designed to support SMEs. But, as always, it can be tough to cut through the noise to pinpoint which is best.
To help you make the most informed decision, we break down the features, pricing, and customer ratings of each. With a clear picture of where these two payment solutions shine, you can make the best choice for your business.
About First Data Payeezy
Payeezy is a payment gateway by the credit card processor First Data. The Payeezy Gateway was previously known as Global Gateway E4. Focused on eCommerce merchant services, the Payeezy account offering is designed to enhance your customers’ online shopping experience.
About Payment Depot
Payment Depot is an all-in-one credit card processing company and merchant account provider that’s owned by fellow processing company Stax. As an all-in-one solution, Payment Depot covers merchants’ in-store and online needs.
First Data Payeezy gets its well-rounded features through its partnership with Clover, a popular POS solution. Payeezy clients can build and integrate their website with Clover Online Store through this partnership. This allows for built-in web hosting and shopping cart integrations. It also has credit card payment integration with HMAC for API security.
The core feature of Payeezy itself is the Payeezy Gateway. The gateway can be integrated with more than 70 different shopping carts. Then, through the First Data Account, you can accept a number of different payment forms, such as PayPal, Visa, Mastercard, and American Express debit cards, credit cards, and eChecks.
Payment Depot Features
Payment Depot, at its core, is a payment processing solution. Like Payeezy, it integrates with POS systems. But unlike Payeezy, the range is much broader, including Clover, Poynt, Dejavoo, SwipeSimple, and others.
Focusing on the complete solution, Payment Depot offers sales, customer behavior, payment history analytics, advanced fraud prevention tools, and chargeback protection.
One of Payment Depot’s biggest advantages is its range of integrations. That includes payment gateway integrations with the likes of Authorize.net, USAePay, Stripe, PayPal, and more.
Features Common to Both Payeezy and Payment Depot
The following features are common to both payment processing solutions:
- WooCommerce integration. Both providers integrate with major online shopping carts, including the most popular, WooCommerce.
- PCI compliance. Both businesses are PCI-compliant. They accept online payments, offer plugins, and use API keys for highly secure integrations.
Payeezy vs Payment Depot: Pricing Comparison
Payeezy charges a percentage of your transaction amount plus a flat fee per charge. For its Basic Plan, this is 2.90% + $0.30 per transaction.
Payment Depot is a pioneer of the membership-based pricing structure. With a monthly membership, it then lowers the transaction fees, simply charging the current interchange rates for each transaction.
Payeezy vs Payment Depot: Customer Support
Payeezy offers direct, 24/7 access to a dedicated support team on both phone and email. It also has a support page with FAQs and resources.
Payment Depot also offers 24/7 support via phone, email, or live chat. And it, too, has an online knowledge base where merchants can find all the information they may need before escalating to customer support.
Payeezy Pros and Cons
Payeezy is an eCommerce-focused provider. As such, its online solutions are high-value. The payment gateway is easy to use, with pre-integrated shopping carts and payment gateway options. Its Transarmor Security Suite also provides an extra step to protect card information.
On the downside, it lacks the robust in-person solutions that brick-and-mortar merchants will need. The transaction fees are higher for merchants with high-volume transactions. And its limited integrations and exclusive relationship with Clover limit the flexibility of merchants to choose other POS providers.
Payment Depot Pros and Cons
Payment Depot’s all-in-one solution is a big plus for merchants with comprehensive needs. The number of integrations, whether POS, payment gateway, accounting, or other online sales enhancing features, make it a powerful solution.
Virtual terminals also come as standard with any Payment Depot plan. And finally, its membership pricing means merchants with high-volume sales can save significant fees.
The downside of Payment Depot is that it’s not yet available to merchants outside of the United States.
Payeezy vs Payment Depot: Customer Ratings and Reviews
Due to the name changes from First Data and Global Gateway E4, minimal merchant reviews are available online to get a sense of what Payeezy customers say about the service.
Having been around in its current form for longer, Payment Depot has plenty of online ratings and reviews. On Trustpilot, it has received more than 1240 reviews. The company has a “Great” status, with 88% of its customers giving it 5 stars. The current score is 4/5.
Unsurprisingly, Payment Depot’s customers credit its pricing model as one of their favorite features. After that, their customer service and ease of switching from another provider receive the most praise.
How to Know Which Is Best for Your Business
The decision of which provider to go with depends on your business needs.
Factors for merchants to consider
Only you can know your needs, but there are some items that should be on your list to assess:
- PCI compliance (this securely stores credit card information such as the credit card number, expiration date, and key customer data)
- Checkout options
- API integrations with PHP and other applications
- Payment options
Questions to ask when weighing your decision
When choosing a processor, you should always ask the following questions and compare the answers side-by-side. This ensures that your company is getting the best deal possible.
- What will be the ease of integration?
- What integrations do you need to cater to your business today and five years from now?
- What kind of payment methods do you need to accept? (crypto, gift cards, etc.)
- What kind of transaction volumes do you expect to put through?
If you’re an eCommerce-only business owner, not expecting high-volume transactions, then Payeezy may be a better option for you.
On the other hand, if you’re looking for an all-in-one, feature-rich solution and don’t want to pay more than necessary per transaction, then Payment Depot is clearly the better choice. It has more flexibility and can scale up with you as your business grows. To learn more about how you can save more in credit card processing fees every month, contact Payment Depot today.