Merchant Accounts for Psychologists

5 Best Merchant Accounts for Psychologists

Psychologists and psychiatrists looking to improve patient satisfaction and convenience may consider offering various payment options, such as cash, checks, credit cards, debit cards, prepaid cards, and ACH transfers. Additionally, implementing business management tools such as accounting software integration and online invoicing can streamline operations.

However, it can be challenging to identify the best credit card processors for mental health professionals due to the numerous options available, some of which may come with costly equipment leases, long-term contracts, and high transaction fees. To help you make an informed decision, we have compiled a list of the best merchant accounts for psychologists.

Best Merchant Accounts for Psychologists

  • Stax
  • PaymentCloud
  • Payment Depot
  • Host Merchant Services
  • Leaders Merchant Services
5 Best Merchant Accounts for Psychologists


Psychologists who need a payment processing solution that is both HIPAA-compliant and comprehensive may want to consider Stax. In addition to offering a variety of software tools, Stax charges flat fees on top of standard interchange rates, potentially saving users up to 40% on transaction costs.

The Pro plan allows psychologists to create digital invoices that can be paid in whole or installments. The ultimate plan even allows for creating recurring invoices and payment plans for repeat clients.

Stax also offers point-of-sale solutions that can be used with free terminals, smartphones, or tablets to accept card payments, ACH transfers, and even PayPal.


PaymentCloud is a provider that caters to businesses of all risk levels and offers a variety of products and services to meet the needs of its customers. These include mobile phone swipers, point-of-sale solutions, a virtual terminal, an online payment gateway, merchant cash advances, and EMV-compatible terminals.

This wide range of offerings makes it easy for merchants, including psychologists, to accept payments in person and online, making it convenient for patients to pay from the comfort of their homes.

One of the standout features of PaymentCloud is its dedication to customer service. When you sign up as a new merchant, you’ll be assigned a dedicated account representative who will work with you to customize your pricing based on your processing history and business type. This personalized approach to pricing ensures that you’re getting the best deal possible and helps PaymentCloud stand out from its competitors.

In addition to its excellent customer service, PaymentCloud has also built a good reputation in the industry. We couldn’t find any negative complaints about the company on consumer forums, which is always a good sign. Overall, PaymentCloud is a reliable and trustworthy merchant account provider that is well-suited for businesses of all risk levels.

Payment Depot

Payment Depot is an excellent choice for therapy practices with a low-volume, high-cost revenue model. It offers significant savings over other processors with interchange pricing models. In addition to having a lower subscription than its parent company, Stax, Payment Depot also offers a 0% interchange fee. It even has a lower annual processing limit than other processors, making it an exception to the rule that interchange-plus pricing is the best value for these practices.

One of Payment Depot’s standout features is its value-added benefits. For example, it has HIPAA-compliant software, which many competitors do not offer. This additional support can be constructive for psychologists.

In addition to its impressive value-added benefits, Payment Depot has a strong security history, having never experienced a data breach. It is compliant with GDPR; it follows the best data practices to make sure that your client’s data and payment are safe and secure.

Host Merchant Services

This company is a merchant account provider based in Newark, Delaware, well-suited for psychology practitioners. The company offers many products and services, including online marketing tools, point-of-sale solutions, a virtual terminal, a payment gateway, integration with third-party software, mobile credit card processing, and merchant cash advances.

Host Merchant Services is particularly well-suited for e-commerce businesses and even provides an email address and a free website to new merchants who need them. If you are a psychologist looking to accept payments both in person and online at an affordable price, Host Merchant Services may be a good fit for you.

They received overwhelmingly positive comments on public forums, with many reviewers praising the company’s excellent customer service. In addition to offering pricing with no early fees, Host Merchant Services also provides a transparent pricing model, allowing users to cancel their service without penalty.

This combination of excellent customer service and transparent pricing makes Host Merchant Services a top choice for psychology practitioners and other small business owners.

Leaders Merchant Services

If you’re looking to expand the therapy practice and need a reliable merchant account provider, Leaders Merchant Services (LMS) is an excellent choice to consider. LMS offers affordable per-transaction rates and allows you to apply, which are collateral-free loans that are paid back in commission on future sales. These flexible financing options can be beneficial for starting new therapy practices.

It’s worth noting that LMS is not HIPAA-certified, but this doesn’t mean it can’t still be a good fit for your practice. While LMS doesn’t offer its software, it does integrate with third-party software that is not HIPAA-certified. Since LMS charges more to use the integrated software, you aren’t forced to pay for something you can’t use.

One way to overcome this limitation is to take advantage of LMS’s status as a certified Clover reseller. Clovers are fully HIPAA-compliant, which means you can see the HIPAA features you need for your practice. While using this software does come with a monthly fee, it may be worth more to ensure that you’re able to meet the regulatory requirements of your practice.

Overall, LMS is a reliable and flexible merchant account provider that can be a good fit for therapy practices that need to accept payments in person and online.

What to Look for When Choosing a Merchant Account for Psychologists

Payment Processing Fees

One of the most important factors to consider when choosing a merchant account is payment processing fees. These fees can include a percentage of the sale (known as a transaction fee) and a flat fee per transaction. It’s essential to compare the fees of different merchant account providers and choose one that offers competitive rates.

Payment Security

Another crucial factor to consider is payment security. You want to ensure that the merchant account provider you choose offers a secure payment method to protect your and your client’s sensitive information. Look for features such as encryption, fraud detection, and PCI compliance.

Customer Service and Support

You should also consider the level of customer service and support the merchant account provider offers. Make sure they offer prompt and helpful assistance if you have any questions or issues.

Integration with Practice Management Software

Lastly, consider if the merchant account provider offers easy integration with your practice management software. This can save you time and make managing your practice’s finances easier.


Finding the correct merchant account provider for your psychology practice is crucial to ensure that you can accept payments conveniently and securely. Several factors to consider when evaluating different merchant account providers, including the types of payment methods they support, the fees they charge, and the level of customer service and support they offer.

Ultimately, the best merchant accounts for psychologists will depend on your specific needs and preferences. By carefully evaluating the options available and choosing a provider that aligns with your business goals, you can ensure that you have a reliable and secure way to accept patient payments.

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