Payment Depot
3/5 stars
A merchant services provider that offers payment processing solutions with a subscription-based pricing model to provide more transparency into processing fees.
Pros
- Flat monthly rate could mean savings on transactions.
- Transparent pricing – no need for a magnifying glass to read the fine print
Cons
- Might not suit very low-volume businesses
- Some reports of unreliable customer service
The Bottom Line
Payment Depot offers a competitive edge for SMBs with high transaction volumes.
This page may contain affiliate links. Our assessments are grounded solely in the product’s merits and performance.
Plans & Pricing
Variable
Starts at$49/per month
- Membership costs vary, starting at $49/month
- Costs depend on volume of transactions and features selected
Continue on American Express website
Pricing information is retrieved from publicly accessible pricing materials. The actual cost may vary based on specific plans chosen. Always check directly with the seller for the final quote.
Pricing information last updated March 7, 2024.
Product Review
Key Features:
- Transparent Pricing: No hidden fees jumping out at you like a jack-in-the-box. You see what you get, and what you get looks pretty good.
- Membership-Based Model: Think of it as a club where, instead of paying per swipe or transaction, you pay a flat monthly fee. It’s like a buffet, but for payment processing.
- Equipment Options: Whether you’re a fan of traditional terminals or have a soft spot for fancy POS systems, they’ve got you covered. It’s like choosing your weapon in a duel, but instead of a duel, it’s business.
- 24/7 Support: Ever wished for a genie to help you out at 3 AM? Well, Payment Depot might just be your genie, ready to assist round the clock.
Payment Depot is utilized by merchants to process credit card payments both in-person and online, charging a flat monthly fee instead of marking up network-set interchange fees, thereby offering a straightforward and potentially cost-effective payment processing solution.
What sets Payment Depot apart from its competitors is its membership-based pricing model, which eliminates the interchange markup on transactions. This model can lead to significant savings for businesses with high sales volumes. Payment Depot offers a wide range of compatible hardware and 24/7 customer support, making it an appealing choice for small to medium-sized businesses (SMBs) that process a large number of transactions
Best for: High-Volume SMBs Seeking Cost-Effective Payment Processing
Payment Depot is best suited for small to medium-sized businesses, particularly those with high sales volumes who can benefit most from its pricing model. It’s an excellent choice for retail, restaurant, and professional services, including B2B operations. However, businesses with low or irregular sales volumes might not find the monthly fee structure as beneficial. High-risk industries should also look elsewhere, as Payment Depot may not support these types of businesses
Why We Love It:
- Membership-Based Pricing: Payment Depot’s model offers clear, straightforward pricing without interchange markups.
- Hardware Compatibility: Supports a wide array of terminals and POS systems, including mobile and countertop options from leading brands.
- No Long-Term Contracts: Provides flexibility with month-to-month subscriptions and no early termination fees.
- 24/7 Support: Offers around-the-clock customer support, ensuring assistance whenever needed.
- Free Virtual Terminal: All plans include a free virtual terminal, allowing for manual credit card entries and phone payments
Payment Depot
A merchant services provider that offers payment processing solutions with a subscription-based pricing model to provide more transparency into processing fees.
Variable
Membership costs start at $49/month and vary depending on volume of transactions and features.
Continue on Payment Depot website
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