Payment Depot Review

Payment Depot Review 2022

Payment Depot is a merchant services company that uses membership pricing (also known as the subscription price) to assist merchants in saving money on processing costs and reducing the number of fees they have to pay.

Unlike most payment processors, who charge hefty markups on purchases, the Payment Depot membership charges no percentage markups at all. You just pay a set monthly cost to get access to processing networks and banks, plus a small $0.07-$0.15 price for authorization on every transaction, in addition to the wholesale rates paid to banks and credit card issuers (not directly to Payment Depot). There’s no need to haggle with salesmen about processing charges or be concerned about overpaying, because the expense is covered by the membership fee. The cost of processing is comparable to the cost of retail interchange or assessment.


In lieu of marking interchange charges paid by card issuers as some payment processors do, Payment Depot charges a membership fee of $79 to $199 monthly and a cost per transaction that ranges between 7 and 15 cents.

Calculate whether its membership fees are less expensive than your current payment processor’s interchange costs and markups; however, for many medium and higher-volume companies, they are. Additionally, a membership fee will make monthly processing fees more predictable.

Payment Depot doesn’t charge account fees, statements fees, or service charges on any of their plans. The company also provides free PCI compliance, an annual requirement set by credit card companies to ensure that merchants are accountable for the security of the cardholder’s information. Additionally, no cancellation or contract fee makes it simple to test the benefits of membership.

Starter membership

The Starter plan is $79 per month and permits you to make payments using fees for interchange (set through the credit network) and a 15-cent transaction fee. Your processing volume limit is $55,000 per month.

Most popular membership

The Most Popular plan costs $99 per month and reduces the transaction cost by 10 cents. The maximum transaction volume is $150,000 per month. You also get protection against data breaches.

Enterprise membership

The Enterprise plans begin at $199 per month and reduce the transaction cost by 7 percent. The limit for transactions is $300,000 per month, in addition to security against data breaches and an account manager that is specifically assigned to this plan. Customized plans are also available.

Customer Service

Payment Depot provides telephone and email customer service 24 hours a day, seven days a week. It’s crucial to remember that phoning during office hours, which are Monday through Friday from 8 a.m. to 5 p.m. Pacific Time is the most probable way to reach a full-time employee. During non-business hours, technical support concerns may be addressed by the processing firms (Fiserv and TSYS). Payment Depot also assigns an individual to handle any support queries that come in after business hours, 24 hours a day.

An online knowledge base for clients that gives advice on how to fix frequently encountered difficulties is something we’d like to have. Payment Depot does not presently provide this service, although they do have a rudimentary FAQ on their website.

Payment Depot has received favorable feedback for its customer service from a range of businesses that have offered testimonials, which is a good sign. Another encouraging sign is the lack of complaints about this issue among the few complaints we found about the firm. Customer service concerns are the most common complaint about merchant account providers, and the absence of complaints about this issue is a good sign that the company is doing a good job in this area.


  • Transparent membership pricing
  • True month-to-month billing
  • No setup or application fees
  • Free payment gateway with plan
  • Good customer support
  • Very few complaints are made in the public domain.


  • Only accepts merchants from the US.
  • Does not accept high-risk merchants
  • Costly for businesses with low volumes

Final Verdict on Payment Depot

Payment Depot is recommended for a variety of reasons. Month-to-month Payment, regular monthly prices, and consistent customer support are all elements that set the organization apart from its competitors. However, for many retailers, membership-based pricing is the most important factor in deciding whether to use Payment Depot or another company. Is it possible to save money with this type of pricing? If you answered yes, this is a fantastic alternative. If you have a strong processing history and are aware of the number of transactions you do each month, as well as the average ticket size, you may estimate the cost of one of the company’s membership plans. If you’re just starting out or you have a wide range of costs every month, it’ll be more difficult to come up with an exact comparison.

According to our analysis of Payment Depot membership options, businesses with a good reputation and a monthly processing capacity of more than $10,000 would save the most money. If you can’t reach that processing amount each month, you can wind up paying more than if you used Square or a comparable service. You should be aware that you won’t be able to acquire an all-inclusive merchant account with Square or any other payment service providers (PSPs) and that your budget might be blocked or cancelled at any time without warning. Payment Depot may be a viable alternative in the long run if your company is small but developing. When your company’s processing capacity is exceeded, it’s simple to switch to a new membership plan.

Payment Depot receives a positive rating from the team here at Merchant Services Update. We’re impressed with the company’s quick and responsive customer support, as well as its price options, which are guaranteed to save the majority of merchant’s money on processing costs. One cautious note: Payment Depot’s regular price plans have recently changed, making it less tempting to small-volume businesses. Before you can save money over standard service, you must process at least $10,000 per month (and maybe more). Pay attention to the fact that Payment Depot does not accept most high-risk enterprises.