Payment Depot Review, Features & Pricing [2023]

Going More In-depth into Payment Depot Processing:

Payment Depot, while not entirely reinventing the wheel, has clearly had its gears cranking at full-force as it’s worked diligently to revolutionize the way payment processors structure their prices.

So what’s the method behind the magic?  While other interchange-plus touting providers will levy fees for “interchange and mark-up” costs, yearly costs, PCI compliance charges, and more, Payment Depot bundles together all of their fees into a subscription cost that ranges from $49-199.  The total amount that you pay depends upon which plan you opt for.

Moreover, Payment Depot’s processing costs tend to outperform the competition’s, with no percentage mark-up being assessed.  Instead, your company will only be expected to pay for the interchange rate accompanied by a predetermined fee per transaction.

Can your company benefit from this pricing model?  The answer depends on a confluence of factors.  Firstly, you have to ask yourself how frequently you’ll be using the account, as you’ll be paying for the subscription regardless of whether you use it or not.  Thus, for merchants that aren’t in business year-round or those who infrequently process credit/debit card transactions, the costs of subscribing might be greater than what they might have been subjected to under conventional pricing plans.

Generally, smaller businesses might find the subscription fee a bit prohibitive, but larger entities, however, will be over the moon at the amount that they’ll save relative to competing for interchange-plus options.

With regards to their backend processing engines, Payment Depot turns to both First Data and TYSY for their reliably robust services.  This is a boon to customers, as it allows them to benefit from the power and speed of both of these companies at far lower prices than if they were to have signed up with them directly.  Smaller companies, especially, will appreciate the increased access to more powerful resources and the leveling of the playing field on which they compete against larger businesses.

Moreover, despite receiving the benefits of using First Data or TYSY, clients can breathe a sigh of relief at the knowledge that all Customer Support will be handled by Payment Depot, which is known for its concierge-like treatment of its user base.

As a result of its position as a reseller of First Data, customers of Payment Depot are able to take advantage of the processor’s integration of Clover POS Systems.  This means that Payment Depot’s users can expect the multidimensional assortment of offerings that have become synonymous with the Clover POS brand, including next day funding, online and mobile payments, e-commerce options, Virtual Terminals, and Payment Gateways and more.

Things to Love About Payment Depot

Though it would be so simple to just say, “Everything,” the most incredible aspects of Payment Depot are not the things they offer, but the headaches from which they free their consumers.  Payment Depot lets merchants wave goodbye (and say, “Good riddance”) to unwelcome elements that were once part and parcel for merchant account providers such as PCI compliance fees, statement fees, IRS reporting charges, and application fees.  Simply stated, Payment Depot is great for all the things they are but incredible for all the things they are not!