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Payment Depot Review

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PROS / If you pay the membership fee annually rather than monthly, you receive a price break.

CONS / This company's website doesn't have live chat.

 VERDICT / Payment Depot has a fast setup process, low rates and a single recurring membership fee, making it one of the best payment gateway providers for small businesses.

As we reviewed payment gateway services, we sought out providers with favorable terms and low rates and that offer an easy application process and high-quality customer service. Payment Depot earns our Top Ten Reviews Silver Award because it possesses these qualities. Payment Depot works with businesses of all sizes; approximately 75 percent of its customers are small or medium businesses, but it also works with large companies such as Subway and Sprint.

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Quick Picks

When selecting a payment gateway service, transparency and consistency in pricing and the fee structure is an important factor to consider. Payment Depot posts its fees, pricing and information about its terms on its website.

When our reviewers contacted Payment Depot, the representatives that talked with us confirmed the information we found on the Payment Depot website and answered our questions in an open, helpful way.

Payment Depot can provide EMV-compliant terminals starting at $200, which is the average cost compared to the processors on our lineup. It's important to have EMV-compliant equipment if you accept credit and debit cards in person. As of October 2015, merchants that don't have updated terminals to process these cards will be held responsible for any counterfeit fraud that occurs at that register.

Processing Costs

Payment Depot is one of two companies on our top 10 list that offer membership-based pricing. It's also one of three companies with a rate-lock guarantee, which means the processor's markup won't increase as long as you have an account with this company.

Within this pricing structure, the processor's markup is a per-transaction fee you pay in addition to the wholesale rate (the card-brand fee and interchange rate that everyone pays) for each transaction. Most of the payment gateway providers we reviewed add a markup percentage on top of the wholesale rate, but Payment Depot doesn't. The per-transaction fee varies based on membership plan you choose, which is determined by the average volume of transactions processed by your business each month.

When we evaluated this processor, we gauged the costs for a business processing $10,000 or less each month. In this scenario, we qualified for the basic plan in which the per-transaction cost is $0.25. This is higher than the per-transaction fees other companies on our list charge. However, considering that Payment Depot doesn't charge a markup percentage, the overall cost of each transaction may be lower than rates charged by some of the other companies in our review. This makes Payment Depot a solid choice for small and medium-sized businesses. However, if your business processes less than $2,500 a month, this payment gateway company refers you to PayPal or Square, as these companies may be more cost-effective for you.


Payment Depot doesn't charge many of the fees common to the credit card processing industry. Instead, it charges a membership fee, which you can pay monthly or yearly. If you pay yearly, the cost ends up being considerably lower than paying it month to month. There are no PCI-compliance fees or monthly minimums for you to worry about, as these types of fees are included in the membership fee.

If you expand your business to include online sales, you need to open a separate merchant account. This is common across the industry. You should know that the wholesale rates for online transactions are higher than what you would pay for retail processing, but Payment Depot's per-transaction fee and membership fee are the same. It can set you up with either its proprietary payment gateway or Authorize.net. This processor doesn't charge a monthly gateway fee.

Setup & Service

As part of our assessment of payment gateway services, we gauged how easy the application process is and awarded a score to each service. Payment Depot received an Ease of Application score of 92%. Its application is online, and you can sign paperwork electronically. Overall, the process takes about 10 minutes to apply. You need to provide Payment Depot with a voided check, but this can be sent electronically.

It takes one to two days to approve your account after you submit a completed application, and there's no setup fee. When you're processing transactions with this payment gateway service, funds from transactions take one to two days to be deposited into your account. This is a standard amount of time across the industry.

This payment gateway service has few contractual obligations. Accounts with Payment Depot have month-to-month terms with no cancellation fee if you close your account for any reason. This gives your business more flexibility if changes need to be made.

Payment Depot offers a 90-day trial, which can help you decide if this is the right processor for you. If you pay the annual membership fee upfront, you will be refunded a prorated portion of the fee if you cancel your account.

Customer Support

No matter which payment gateway provider you choose, you want to make sure the customer service is top-notch so you always get the help you need, whenever you need it.

Payment Depot's support was outstanding – we gave it a score of 95%. The staff we communicated with were knowledgeable about their company's processes and terms, including rates and fees. They helped us understand the pricing structure and the importance of EMV compliance. The agents we spoke with followed up with us on several occasions, through both email and phone.

Upon signing up for an account with Payment Depot, a dedicated account rep is assigned to you. This person becomes your primary contact with the company. 24/7 phone support is also available, though no live chat is available on this company's website.


In our evaluation, we found Payment Depot to be one of the best payment gateway providers due to its rates, fees, setup terms, ease of application and customer service, all of which are important categories to consider when choosing a payment gateway service. This company has a simple rate structure in which you pay wholesale rates and a per-transaction fee for each transaction along with a membership fee, which you pay monthly or annually. It has a quick setup process and high-quality customer service.

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