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Review of Payment Depot

Kyle Pardue, CPA

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Overall Experience
Ease of Use
Pricing
Customer Service
What does Payment Depot do well?
Payment Depot is great for businesses processing large dollar transactions. We process transactions that average around $3k-$5k so we are saving a few thousand dollars a month. Payment Depot seems too good to be true but they are legit. My old processor warned me about them as I was leaving but I have been unable to find any flaws or gimmicks. John has given us the best customer service of any software company I have worked with.
What does Payment Depot not do well?
We had trouble getting approval because our volume was so large. This isn't necessarily Payment Depot's fault since they rely on First Data and TSYS to process the transactions. Payment Depot was very helpful navigating through that process.
What do you wish you had known about Payment Depot before using?
Payment Depot uses gateways to actually input transaction data. It is always nice to be able to demo the gateway before you use it just to try it out. We use Paytrace in on of our companies and it's very easy to use so we didn't have any complaints as far as that is concerned.
Have you used a competitor to Payment Depot? If so, how does it compare?
I have used Heartland as well as Payment Depot. Heartland was charging 0.85% on top of the percentages that the credit card companies charge (which are unavoidable, even with Payment Depot). The different pricing model of Payment Depot ($166/mo. when paid annually + $0.10/transaction) was an unbelievable savings compared to this interchange +% model that Heartland was using. The cost of processing an additional transaction at $3,000 was $0.10 with Payment Depot vs. $25.50 with Heartland.
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