Payment Depot Reviews: What Merchants and Experts are Saying

 

If you’ve landed on this post chances are that you’re considering Payment Depot for your credit card processing needs and are looking for social proof and commentary on our services.

We hear you. Which is why in this post, we’ve compiled a handful of notable Payment Depot reviews from industry websites as well as merchants like yourself.

Check them out below to learn what others are saying about Payment Depot.

What experts and industry publications are saying about Payment Depot

Let’s start off by looking at what industry pundits are saying. Here’s a handful of Payment Depot reviews from merchant-centric websites:

Merchant Maverick: “We’re sufficiently impressed with Payment Depot to award them a perfect 5 out of 5 stars.”

Payment Depot is one of Merchant’s Maverick’s most highly recommended payment processors, and for good reason: our transparent pricing and fantastic customer service are hard to beat.

Merchant Maverick has awarded Payment Depot an “Excellent” rating in all categories, including Products & Services, Fees & Rates, Contract Length & Early Termination, Sales & Advertising Transparency, Customer Service, and User Reviews.

In terms of pros and cons, the website states that the only downsides about Payment Depot are the fact that we only cater to US merchants and we’re not suitable for high-risk merchants.

Want to read the rest? Check out Merchant Maverick’s review of Payment Depot.

Fundera: “It’s uncommon to find a payment processor as transparent and affordable as Payment Depot…”

In June 2019, Fundera, site that offers financial resources for small businesses, wrote an unbiased review in which it tackled Payment Depot’s capabilities, integrations, features, pricing, and more.

Fundera outlined some of the advantages of Payment Depot, which include favorable pricing and free credit card terminals. As for cons? According to the site, “it’s hard to find things to complain about with Payment Depot,” save for the POS system pricing. “Really, it’s uncommon to find a payment processor as transparent and affordable as Payment Depot,” Fundera states.

You can read the full review here.

ValuePenguin: “…an excellent high-volume credit card processor for both online and offline businesses.”

Next up is ValuePenguin, which commended Payment Depot for offering low rates without cutting corners.

According to the site:

From a features point-of-view, Payment Depot doesn’t cut corners, despite its low cost. Deposits are fast (usually within 24 to 48 hours), you get a merchant account processed through First Data, and you get a free gateway and virtual terminal. The monthly fee you pay covers everything, so you also don’t have to contend with things like PCI compliance fees or statement/admin fees.

As for the downsides? Value Penguin says that while Payment Depot is an excellent choice for high-volume companies, it’s not the best solution for merchants that are just starting out and those whose monthly processing volume is lower than $2,500.

Want to learn more? Check out their full review.

PCMag: “Payment Depot impresses with a wholesale-style pricing structure…”

PCMag.com also took the time to write a Payment Depot review, in which it walked readers through our start-up costs and set process, as well as Payment Depot’s compatibility, integrations, and payment options.

All in all, PCMag wrote an unbiased piece that called out Payment Depot’s easy to understand fees and money-back guarantee.

The only downside? According to the site, the solution may not be the right fit for startups and smaller businesses.

Read the full review here.

CardPaymentOptions.com: “A Competitive Option for Most Standard-Risk Merchants”

CardPaymentOptions.com gives PaymentDepot a Merchant Account Trust Score of “A”. In addition to discussing our rates and features, the website also looks at Payment Depot’s location and ownership, online reputation, marketing and advertising claims, and more.

CardPaymentOption.com’s review is a great read if you want to learn more about Payment Depot as a company, and if you’re curious about what other merchants are saying about our services.

Read the full review here.

Ecommerce-Platforms.com: “…it truly is one of the most transparent payment processors.”

Another recent review comes from Ecommerce-Platforms.com, which offers a detailed look at Payment Depot’s offerings. The review kicked off by discussing our pricing and fees and whether or not there are hidden charges (spoiler alert: there are NONE.)

Ecommerce-Platforms then went on to talk about Payment Depot’s best features, and it commended our ease of use and transparency. The site also evaluated our customer support and concluded that Payment Depot is a good option for a wide variety of merchants.

Check out the full review here.

Business.com: “…low rates, single membership fee and quick setup make it an excellent processing option for small businesses.”

Business.com also took a look at Payment Depot, and they weren’t disappointed. The website talks about how easy it is to get set up, and then walks readers through the steps and requirements of obtaining and account.

The review also talks about Payment Depot’s innovative pricing structure, which charges merchants a flat membership fee instead of taking a cut of out their sales.

Here’s a snippet from the article:

Payment Depot doesn’t charge many of the other credit card processing fees common in the industry. The only fee it charges is a membership fee, which can be paid monthly or yearly. The yearly cost works out to be significantly lower than paying the membership fee on a monthly basis. There are no separate PCI-compliance or PCI-non-compliance fees and there is no monthly minimum. PCI-compliance fees and statement costs are included as part of the membership fees.

Check out the full review here.

Payment Depot reviews from other merchants

Expert commentaries are useful, but to get the full picture, you also need to hear from other business owners.

Trustpilot review: Switching from Wells Fargo Merchant

 

A recent reviewer on Trustpilot shares their experience of switching from Wells Fargo Merchant to Payment Depot and says that the change enabled them to save a few hundred dollars a month on $30,000 transactions per month.

Our favorite part of the review: “I like Payment Depot’s business model, transparency, and the fact that you don’t have to worry about them sneaking up the percentages on you (which is why we switched away from Wells Fargo).”

Check out the full review here.

Capterra review: Came for the low cost, and stayed because of superb customer service

A merchant on Captera gave Payment Depot a 5-star rating, stating that they not only were our fees lower, but customer service has been outstanding.

According to the merchant:

The cost savings initially attracted me to Payment Depot, however, they have been so easy to work with and had superb customer service. They have even helped guide me in switching over to a new POS system. I couldn’t recommend them more!

Check out the full review here.

Yelp review: “They have kept more money in my pocket.”

In May 2019, a merchant left a glowing Yelp review for Payment Depot. He had been using our solution for 3 months at that point, and he praised Payment Depot’s rates and business practices. He was originally paying 3.55 to 4% with his previous provider, but thanks to Payment Depot, he was able to lower his rates to 1.9% to 2.2%, including all fees.

Read his full review here.

Still need more information about Payment Depot?

If you’re shopping around for a payment processor and want to learn more about Payment Depot, get in touch with us anytime. We’d love to see if we’re a good fit. We can also review your merchant statement or contract for free, to identify opportunities to save.

And if you’re looking for real-time, unbiased Payment Depot reviews, our official reviews page pulls input directly from Trustpilot.