Payment Depot review

Set up card processing quickly with free equipment and a 90-day satisfaction guarantee.

Payment Depot is a one-stop shop for small business owners looking to collect credit card payments efficiently and affordably. Set up and accept retail and e-commerce payments in minutes, with free POS equipment and payments deposited into your business’s checking as soon as the next day.

  • Look to Payment Depot if you process more than $5,000 monthly.
  • Choose another provider if you’re a seasonal or micro merchant.
  • If you’re not satisfied get a full refund of monthly membership fees by canceling services in the first 90 days. And save 20% if you refer friends or business contacts to Payment Depot.
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SolutionsIn-store, Mobile, Online
ProductsPayment processing
Monthly fees start at$79/month + interchange
Processing fees start at$0.15 per transaction
Contract required?No
Processing timeNext day
High-risk merchants accepted?No

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Best of 2021
Finder experts pick Payment Depot as a 2021 best brand for payment processing.

Payment Depot services

Many business owners think of payment processing in the context of POS equipment. Payment Depot is an integrated provider that supports online and in-person payments for small businesses:

  • Payment processing. Accept credit card payments in-person or online.
  • Merchant accounts. Consolidates your credit card sales until they’re transferred to a business account, eliminating the need for a separate third-party merchant account.
  • Shopping cart. Integrates with most website platforms for flexibility in managing and placing online orders.
  • Data breach protection. Never worry about liability from stolen customer data.
  • Merchant cash advances. Offers financing to grow your business through partner Fundomate.


  • Next-day funding for accepted transactions
  • 24-hour customer support
  • 90-day full-refund satisfaction guarantee
  • Free cancellation at any time
  • Wholesale pricing on payment processing

What hardware is available?

Payment Depot sells a number of card readers and POS systems through their site, including Clover, Vital, and Poynt hardware. It can work with most third-party equipment, but it's a good idea to check that your hardware is compatible before signing up. Any compatible hardware can be reprogrammed for free, no matter which plan you buy.

What’s available for free?

Payment Depot offers terminals, mobile card readers and POS equipment for free to new customers. The equipment you get depends on your membership, but you may have the option to upgrade. The standard terminals available for free with the Most Popular, Best Value and Premier plans include:

  • PAX A80. Accepts EMV chip, magnetic strip or contactless payment, with built-in receipt printer and connections to Wi-Fi or wired ethernet.
  • First Data FD130. Built-in chip reader that accepts Apple Pay and credit cards with a Wi-Fi connection.
  • Verifone VX520. No-frills terminal that lacks a touchscreen and other features, but can meet the needs of many small businesses.
  • Dejavoo Z11 Tricomm. Easy-to-use countertop terminal built for small business owners who don’t need a ton of options.

What upgrades can I buy?

While Payment Depot works with most third-party equipment, some hardware is available for purchase directly through its site, including:

  • Point-of-sale solutions
    • Vital Select. Track inventory and order ahead. Vital Select also lets business owners combine or split orders.
    • Clover Station POS. Cloud-based POS with a 14-inch touchscreen tablet, plus a cash drawer and receipt printer.
  • Smart terminals
    • Swipe Simple Terminal. Wi-Fi–capable terminal with inventory tracking and built-in printer. Allows for digital receipts to customers.
    • Clover Flex. Cloud-based terminal for Wi-Fi or broadband that also allows for inventory tracking.
    • Vital Plus. Wi-Fi–capable device with 5-inch touchscreen, built-in receipt printer and built-in barcode scanner.
    • Poynt Smart Terminal. Built-in receipt printer and an extended eight-hour battery life. It can connect via Wi-Fi or 3G cellular network.
    • Clover Mini LTE. Seven-inch touchscreen that accepts Apple Pay and credit cards flexibility by way of downloadable apps through the Clover App Market.

Payment Depot pricing and fees

Payment Depot structures pricing in tiered memberships. All tiers offer next-day funding and pay wholesale rates for processing credit card transactions with the ability to cancel a membership at any time, fee-free.

Monthly cost




Monthly processing volume limit




Transaction fees

$0.10 + interchange

$0.07 + interchange

$0.05 + interchange

Included hardware

Free basic terminal

Free smart terminal or free premium gateway

Free Clover Mini and free premium gateway

Breach protection

Dedicated account manager

Crunching the numbers: When is Payment Depot’s subscription cost worth it?

It can be hard to compare prices when there are so many different ways companies charge for payment processing. To break it down, let’s look at how much a few hypothetical businesses might pay using Payment Depot or Square. We chose Square as a comparison, because they’re a popular option for small businesses with a middle-of-the-road, flat-rate processing fee.

For the sake of this example, we assume each business is processing a mix of credit and debit cards with an average interchange rate of 1.7% and that all payments are either swiped, tapped or dipped — no keyed-in transactions. If a business processed more debit cards than credit cards, the price for Payment Depot would be lower, but the price for Square would be the same.

Craft fair booth: Processes $5,000 in credit cards monthly
Winner: Square

Coffee shop: Processes $10,000 in credit cards monthly
Winner: Payment Depot

Bistro: Processes $50,000 in credit cards monthly

Winner: Payment Depot

Retail boutique: Processes $100,000 in credit cards monthly
Winner: Payment Depot

Pros and cons


  • Wholesale rates on credit card transactions
  • 90-day satisfaction guarantee
  • Integrated merchant accounts


  • No in-house financing
  • Monthly membership fees in addition to per-transaction charges
  • 24-hour support available for select member tiers only

Payment Depot reviews and complaints

As of January 2021, Reviews of Payment Depot are mostly positive with the rare complaint. The company earns an A+ rating from the Better Business Bureau based on its internal criteria that includes years in business and responsiveness to complaints. What's more, it appears that Payment Depot reps regularly follow up on customer complaints, going out of their way to improve customer experiences.

The company earns a 4.9-star "Excellent" rating on Trustpilot, where you'll find many positive reviews about excellent customer service, quick response rates and pricing transparency that is unusual among credit card processors.

You'll find positive reviews elsewhere online too. Some customers say Payment Depot's pricing structure can be unattractive for new businesses or those with low transaction volumes. However, few customers report poor experiences.

What I thought of Payment Depot's customer service

I called Payment Depot to find out if there are any cancellation fees associated with its service. Its phone number was easy to spot at the top right of its homepage, so I didn't have to waste time hunting down contact information. The rep I connected with was friendly, polite and courteous.

  • Did I get an answer? Yes, the rep said Payment Depot doesn't charge cancellation fees and offered to answer any other questions I had.
  • How long did it take? The call lasted 59 seconds.
  • Was there an automated system? No, I was connected to a live representative within seconds of placing the call.

How do I open an account with Payment Depot?

You must speak to a rep or request a callback online to set up an account with Payment Depot:

  1. Complete the online contact form with your personal and business details, including a phone number and email address for contact. Click Submit.
  2. Speak with a Payment Depot representative to confirm your business details and needs.
  3. Choose your equipment, complete your membership signup and wait for your package to arrive.

What is Payment Depot?

Payment Depot is a merchant services company that’s a registered ISO of Wells Fargo . It specializes in helping small business owners accept credit card transactions using in-store POS solutions or credit card terminals, expanding its services into online shopping and virtual terminal options to engage in e-commerce.

Payment Depot is structured as a membership organization, with tiered fees based on services and features. All members get access wholesale rates for processing credit card transactions, and charges are per transaction rather than a combination of transactions and a percentage of your total sale.

How do I contact Payment Depot support?

Get help in two ways:

Compare other payment processors

Name Product Monthly fees start at Processing fees start at Processing time High-risk merchants accepted?
Chase Merchant Services
Chase Merchant Services
2.6% + 10¢ per swiped credit card
Next day when you deposit into a Chase business checking account
Accept, process and deposit customer payments in your store, online or on-the-go.
$0.08 + interchange per transaction
Next day for qualified businesses
Businesses that process more than $10,000 monthly can save with Stax's interchange+ pricing.
2.6% + 10¢
Next day
Square is a one-stop shop with both e-commerce and in-person solutions.
1.92% + $0.08 per transaction
Two business days
Conveniently packaged into three service tiers for in-person and online sales.
Payline Data
Payline Data
0.2% + interchange + $0.10 per transaction
Next day
Accepts high-risk merchants and offers discounted rates for nonprofits.

Compare up to 4 providers

What other products will I need?

Because Payment Depot is a relatively comprehensive system, you won't need much else to get started:

  • Business checking account. Payment Depot holds receipts, but you need to link an account for transfer of your payments.
  • Inventory management system. You'll need a system to manage inventory and orders, if you don't pick equipment with built-in inventory tracking.
  • Website. A site can advertise your inventory or promote your services for virtual sales beyond your storefront.

Bottom line

Payment Depot is an excellent merchant services provider for small businesses looking for free equipment and whole rates on credit card transactions. If your business maintains consistent transaction volumes, you may be able to save money on credit card processing or expand into e-commerce. Trying out the service is low risk: If you aren’t satisfied within 90 days, you can cancel and get a refund on your membership fees.

Sign up on Payment Depot's website, or compare other payment processors if you're not ready to commit.

Frequently asked questions

Does Payment Depot serve all industries?

No. Payment Depot does not work with high-risk industries that include alcohol sales, airlines, medical marijuana, online pharmacies and online firearms or ammunition retailers. Speak to a Payment Depot representative if you’re not sure whether your business is high risk.

What happens if I choose the wrong Payment Depot plan?

Payment Depot may adjust your plan to a different level at annual review if it finds that you’ve processed more transactions than your plan allows.

Can I use my existing terminal with Payment Depot?

Typically, yes. Payment Depot works with most major terminal equipment, and it helps you program it for free when you sign up.

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