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Payment Depot | Reviews by SmallBizGenius

ByDamjan Jugovic Spajic
February 18,2022
We form affiliate partnerships with some of the companies mentioned in our reviews, which means we may get a small monetary compensation every time you purchase a product using the links on our website. This does not influence the contents of our reviews. Learn more by reading our Affiliate disclosure.

Basic plan costs $49/month + interchange fees and the per-transaction fee of $0.15

pros thumb up Pros
  • 90-day money-back guarantee
  • Transparent and easy-to-understand pricing
  • Subscriber-based pricing and fixed rates
  • 24/7 support on most plans
  • Free equipment
  • Month-to-month billing
cons thumb down Cons
  • Not ideal for businesses with very small transaction volumes

Product Overview

Payment Depot is an increasingly popular credit card processor with a pricing plan that separates it from its competitors. While most credit card processing companies offer tiered or interchange-plus pricing plans, Payment Depot is one of the few providers that offers wholesale membership pricing. As most Payment Depot reviews attest, this greatly reduces processing costs for merchants that process at least several thousand dollars per month. Coupled with dedicated support, clear monthly costs and a money-back guarantee, Payment Depot presents a great solution for merchants of all stripes. However, new and small businesses might find the fees too steep.

Pricing Model

Before we dive into exact pricing details, we have to commend Payment Depo for making their payment structure extremely easy to understand. During our Payment Depot review, it only took us a minute to figure out what our potential monthly costs would be, depending on the amount of credit card transactions processed monthly. Knowing how much a certain service will cost you is crucial for new and old businesses alike. While bigger companies with larger budgets can sometimes handle the costs to be slightly above what they expected, new and smaller businesses usually don’t have that luxury.

Membership Fees vs. Interchange-Plus

Of course, what most Payment Depot credit processing reviews rightfully point out as Payment Depot’s main advantage is its payment model. Most credit card processing companies offer tiered or interchange-plus pricing, while Payment Depot’s pricing relies on membership fees.

Tiered pricing relies on separating each credit card payment into three tiers, based on whether the card was present when the transaction was processed and such. Only the qualified (top tier) payments have an affordable fee and, in reality, most payments won’t fully be considered qualified, costing you a lot of money per transaction. The interchange-plus model, on the other hand, means that the processor charges you a markup percentage on top of the standard interchange rate banks and credit card companies charge per transaction.

The reason there are so many raving reviews of Payment Depot is that this processor offers fixed wholesale transaction rates + a membership fee, without any percentage markups charged. Payment Depot offers four separate plans, with different membership fees. Those with higher fees bring lower transaction rates, higher processing volume limits, and other additional features. Let’s take a closer look.

Pricing Plans

The four available pricing plans over at Payment Depot are: Basic, Most Popular, Best Value, and Premier. All of the Payment Depot pricing plans come with free equipment for credit card processing, free equipment reprograms, and payment gateway. Furthermore, all plans come with rate protection features, chargeback and risk monitoring, and next-day funding – a feature that shortens the wait time for accessing funds received through credit card payments. On top of that, whichever plan you opt for, there is a 90-day money-back guarantee if you find the service unsatisfactory. In case none of these plans suit you, there’s a possibility to get a custom plan tailor-made for your needs by contacting the Payment Depot team.

Basic Plan

This is the cheapest pricing plan available on Payment Depot. It costs $49/month, over which you pay the interchange fees and the per-transaction fee of $0.15. The transaction volume limit for this plan is $25,000. The inclusion of free equipment and a free Payment Depot gateway is invaluable for a plan this cheap. Payment Depot markets the Basic plan as ideal for small businesses. This is true if you process at least $2,500 – $5,000 per month, as lower transaction volumes will lead you to a situation in which the processing service takes up a sizable chunk of your profits.

We’ve calculated the rough estimates of how much each of these pricing plans would cost you, given that you reach the full transaction volume. Do note that these are rough estimates that will most probably look somewhat different for your business in particular and some Payment Depot processing reviews for small business might perform the calculations differently. We took an average interchange rate of 2.2% + $0.15 – these can also vary depending on the card used.

If we take that your business will fully utilize the allowed processing volume of $25,000 and that each transaction processed is for $100 amounts we get to $49 (monthly fee) + 250 (number of transactions) x $0.15 (the fixed transaction fee) + the interchange rates 250 (number of transactions) x ($2.2 + $0.15) = $49 + $37.5 + $587.5 = $674

The second pricing plan will cost you $79 per month. This higher membership fee brings several improvements over its Basic plan. First off, the transaction volume is increased considerably – up to $75,000. Also, the fixed transaction fee is reduced from $0.15 to $0.10, which can reduce costs somewhat if you process a high amount of transactions. This package is labeled “Ideal for all Businesses” and most Payment Depot customer reviews tend to agree. The significantly larger transaction volume coupled with lower transaction fees is a no-brainer. Furthermore, there are additional features that the Basic plan lacks. 

The Most Popular plan comes with a free mobile reader and a free standard terminal – great additions to any business that will greatly streamline your payment processing capabilities. There are two additional features that really make paying the additional $30 per month worth it. The first one is data breach protection, an invaluable addition in a time where cybercrime is a very real threat, especially when you’re processing sensitive financial information.

The second feature you get is access to 24/7 premier support. The last thing you want to do is wait for hours on end just to ask for help in the middle of a busy day. Round-the-clock support is definitely a feature not to be glossed over, as representatives will immediately handle any Payment Depot complaints, technical difficulties, or processing problems.

How much would this plan cost you monthly? Using the same formula we relied on above, with adjusted values, and given that you reach the transaction volume limit, we came up with $1,916.5 per month. While this may sound like a lot at first glance, this is a figure you’ll reach assuming your transaction volume is $75,000.

Best Value

As the third pricing plan by cost and size, Best Value is clearly targeted towards larger companies. With the Best Value plan, the subscription price jumps up to $99/mo. As with the previous plan, this increased cost brings a higher allowed transaction volume of $200,000 and only $0.07 charged per transaction. As far as other features go, there’s only one extra feature that the previous plan lacks – a free pin pad. While convenient, the pin pad alone won’t and shouldn’t be the deciding factor when choosing between these different credit card depot plans.

You should consider buying this package only if you find the transaction volume limits on smaller plans too constricting. Otherwise, you’d be leeching money for no reason. If your company does have a high amount of monthly transactions, the Best Value package is a lifesaver, considering the very low fixed transaction rate and $200,000 limit.

If you theoretically had a transaction volume of $200,000 made up of $100 transactions, your monthly cost with this package would be $4,939.


The biggest Payment Depot package is definitely reserved for large and established businesses. The price difference reflects this, as the monthly fee for this package will cost you $199. This is a pretty significant price jump compared to the previous package and begets the question of whether it’s worth it paying the steep fee. Well, as most reviews for Payment Depot will tell you, it really depends on your needs.

The most impressive feature of the Premier package is surely the removal of the transaction volume limit. With this package, your transaction volume is completely unlimited. Furthermore, the fixed transaction rate goes further down – only $0.05 per transaction. Payment Depot will perform free terminal upgrades every two years if you opt for this plan.

The question of whether you should go for this package boils down to whether or not your company has a high volume of transactions that previous plans won’t cover. There’s no doubt that the very low transaction rate is invaluable for businesses that expect a high amount of transactions, as most Payment Depot reviews show.

It’s tough to give a monthly cost estimate for this plan since it has no upper transaction volume limit. However, in order to give some sort of estimate, we took into account a theoretical transaction volume of $500,000. Again, this is a rough estimate based on the assumption you have $500,000 in monthly transactions that are made up of individual $100 ones with an average interchange rate in mind.  Based on these values, your monthly Payment Depot expenses would amount to $12,199.

Setup Process and Ease-of-Use

Payment Depot prides itself in the simplicity of its pricing plans, and the overall setup process. When we take a look at Payment Depot vs Square, one of its main competitors, Payment Depot’s pricing structure and the overall plan is much easier to grasp – users can get a feel of it in minutes. Another advantage Payment Depot has over many of its competitors is that there’s no need to negotiate rates as they’re fixed and not percentage-based. 

Furthermore, by contacting Payment Depot via phone or online form, you can get a quote on how much the service will cost your business. If you contact them via phone, you’ll get two days of service for free as well. Not only will Payment Depot give you a quote, but it will also be able to analyze your statement and tell you if it’s the right option for you, or if you should check out other providers – a great attitude towards customers that Payment Depot reviews attest to.

After you get in touch with them, get a quote, and decide which plan you want to subscribe to, the startup process is extremely quick. The only wait time is the mandatory 24 hours required by banks, during which the company can verify your business as a measure of protection against fraud.

You get the needed equipment for free (and extra pieces like pin readers depending on the plan you choose) and can immediately start accepting credit card payments, as well as mobile ones via AndroidPay and the like. You get access to its virtual terminal as well, which you get into by typing in your Payment Depot login credentials.

Features and Integrations

Nowadays businesses rightfully expect that various services and software integrate with other commonly used tools. Payment Depot states that its service integrates seamlessly with a variety of other popular services. These include various online shopping cart systems like OpenCart and 3dcart as well as accounting software like Intuit Quickbooks. The list of integrations is pretty long but there’s no real way of testing them out without actually opting for the service. In case your business uses any of the aforementioned services and wishes to inquire about integration, feel free to contact Payment Depot’s support staff. Failing that, you can always check user-written Payment Depot merchant reviews to see what kind of experience other businesses have vis-a-vis integration.

Although we’ve already gone through most of the features available with Payment Depot plans, here are the most attractive and valuable ones:



24/7 phone support

For Most Popular plan and above

Free equipment


Money-back guarantee

90 days

Integration with online shopping carts


Next-day funding


Cancellation fee


Mobile readers

For Most Popular plan and above

Contract Length and Termination Conditions

Another sphere in which Payment Depot differs from most of its competitors is its contract terms and length. With Payment Depot billing – and therefore contract renewal – is conducted on a month-to-month basis. This means that you can call Payment Depot to cancel your merchant depot contract at any time, where it’ll usually continue processing until the end of the month so you won’t lose credit card processing capabilities during that time. There are no contract termination fees, and you’ll get your full money back in case you cancel in the first 90 days. Of course, fees paid for transactions during the time you used the service are not refunded – just the membership fees + 20% restocking fee for the equipment you’re obliged to return.

Payment depot merchant services reviews are overwhelmingly positive. This is partly due to the fact that there are automatic renewal clauses. In the same way you are not obliged to go into contractual obligation for extended periods of time. Payment Depot does offer annual billing however, which nets you significant discounts.

BBB Rating

Payment Depot currently has an A+ rating on Better Business Bureau and has been accredited since 2015. While its BBB reviews on Payment Depot are mixed, the negative ones seem to stem from people who had issues with banks – not with Payment Depot directly. There was only one complaint active at the time of writing concerning wrongly given rates, but the issue was resolved and the customer was refunded.

Similar products/software


Overall, Payment Depot presents a great opportunity for businesses looking for credit card processing services. Whether you just started or you’re looking to find cheaper rates, Payment Depot’s fixed rates, easy-to-understand pricing plan, and cheap membership fees are hard to resist. However, as some Payment Depot reviews point out as well, they’re not an optimal provider if your business has a low monthly transaction volume. If that’s the case, the membership and transaction might cost you considerably when compared to how much you’re making. Businesses with very small transaction volumes should look into percentage-based services instead.

What is Payment Depot?

Payment Depot is a credit card processor that offers services through subscription-based pricing and fixed wholesale transaction fees.

What are interchange fees?

Interchange fees are money credit card networks collect from each transaction but are paid out to the bank that issued the card used for payment.

How do small businesses accept credit card payments?

Small businesses accept credit card payments in-person by setting up a POS system and a merchant account, online through internet merchant gateways or via mobile card readers and appropriate smartphone apps.

Who is the cheapest credit card processing company?

While there are many affordable credit card processing companies like Stripe or Square,  most Payment Depot reviews cite this processor as the cheapest because it has fixed monthly fees and transaction rates – without charging a markup percentage.