Payment Depot Logo
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LAST UPDATED: June 27th, 2019

Payment Depot was created as a result of frustration caused by the traditional credit card processing providers. Instead of finding ways to hide fees or charge varying amounts for transactions, Payment Depot started a membership-based product that allows for pricing transparency. Those who decide to enroll in the Payment Depot platform will have the ability to access direct base rates rather than pay percentage markups and associated fees. Members can rest assured knowing they pay wholesale with accepted credit cards.

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The Good

  • Services and Memberships
  • No Extra Fees
  • No Contracts

Services and Memberships

Payment Depot strives to provide a service that will save business owners money and eliminate unnecessary fees. Members, on average, see a savings of around $400. These savings are designed to more than cover membership fees and end up being far less expensive than providers that do not have membership payment plans. There are four different plans available to choose from. Each business is different, so the variety allows business owners to find the right platform for their model. There is also an option to customize a membership if desired. The four arranged packages are broken down as follows:

Basic Membership:

  • $0.15 per transaction + interchange
  • $49/month in membership costs
  • Process up to $25k each month

Most Popular Membership:

  • $0.10 per transaction + interchange
  • $79/month in membership costs
  • Process up to $75k each month

Best Value Membership:

  • $0.07 per transaction + interchange
  • $99/month in membership costs
  • Process up to $200k each month

Premiere Membership:

  • $0.05 per transaction + interchange
  • $199/month in membership costs
  • Unlimited processing volume
  • Dedicated account representative

Members do not need to worry about processing more than their specific plan authorizes. In the event that this happens, a member's plan will automatically be upgraded to the appropriate plan based on the sales volume during the renewal process.

No Extra Fees

Payment Depot memberships keeps businesses from being nickel and dimed by credit card processors. After deciding on which membership platform that best suits the company needs, members will not have to worry about the following fees:

  • Extra account fees
  • Statement fees
  • Surcharges
  • PCI fees
  • Service fees

No Contracts

Even though Payment Depot is a membership-based service, there are no contracts associated with their product. Members can upgrade or cancel their service at any time without paying a cancellation fee or any having to pay any other sort of penalty.


The Bad

  • United States only
  • Limited industries

United States Only

Since Payment Depot is relatively new to the merchant service game, they are only able to assist individuals and companies who operate in the United States. There are no international platforms or plans available through Payment Depot at this time. At this time, Payment Depot does not offer free equipment with all of their membership plans. Payment Depot can reprogram existing terminals free of charge, but the only other equipment options members have include:

  1. Reprogram of existing terminal (for free)
  2. Utilize Payment Depot free key entry virtual terminal
  3. Purchase new equipment at low wholesale cost

Limited Industries

There are also industries/business types that Payment Depot does not accept. Payment Depot has disclosed that due to the "high risk status" of some industries, they prohibit conducting merchant accounting services for the following: accounts receivable and billing, adult oriented, advanced payments older than a year, airlines, online or non face to face alcohol sales, non financial institution cash advance, cash gifting, chain letters, check cashing establishments, collection agencies or assets recoveries, identity theft services, credit repair, cruise lines, currency exchange, debt consolidation, drug paraphernalia, extended warranty companies, online firearm or weapon sales including ammunition, online gambling, get rich quick schemes, golf clubs, healthcare plans, loan modification, lotteries or raffles, medical marijuana, lifetime membership clubs, money transfer services, online pharmacy, designer name products replicas, special incentives or rebates, lifetime subscriptions service, or online tobacco sales.


The Bottom Line

Payment Depot is a highly flexible service that allows for integration and growth without having to worry about a number of fees or penalties. There are no contracts or hidden fees to worry about. Business owners will simply pick a membership platform, get approved, and then start generating revenue. To get started with Payment Depot, business owners will need to do the following:

  • Fill out online application
  • Get approved by a bank (to protect against fraud)
  • Approval process usually takes about 24 hours
  • Contact with Payment Depot representative

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