Payment Cloud Alternatives In 2024

Last Updated on August 6, 2024 by Corepay

Finding reliable payment processing for hard-to-place merchants has always been more challenging with the updates to VIRP on April 1. Whether you’re a merchant currently processing with Payment Cloud, you recently parted ways with Payment Cloud, or you’re just a startup looking to find alternatives to Payment Cloud, you’ve come to the right place.

At Corepay, we’ve been working with high-risk merchants for the better part of the last ten years. In this article, we’ll explain why we’re a great partner and introduce you to a few other options.

Key Takeaways

• All Payment processors have relationships with different acquiring banks. For this reason, it’s always smart to diversify with several MIDs.
• We believe we are the best alternative to Payment Cloud
• Choose a payment processor that can offer you a full suite of payment options and chargeback management.

What Is Payment Cloud?

Payment Cloud, founded by Sean Silver, is a payment processing company that specializes in providing solutions for high-risk merchants. Established in 2015, the company offers services tailored to industries such as CBD, nutraceuticals, online gaming, and adult entertainment.

Payment Cloud provides a range of features, including advanced fraud protection, chargeback management, and flexible payment processing options. The company is recognized for its focus on high-risk sectors and its ability to offer customized solutions that address the specific challenges of these industries.

What Industries Does Payment Cloud Serve?

Payment Cloud is known for its powerful online presence, and they process for many CBD, online dating, and online gaming merchants.

Here are some of the industries:

• Adult Entertainment
• Digital Goods
• High-ticket E-commerce
• Subscription Services
• Online Gambling
• CBD
• Credit Repair
• Vape Products
• Nutraceuticals
• Health and Wellness Products
• Travel

Rates

Rates for high-risk merchant accounts via Payment Cloud typically include various fees, such as transaction fees, monthly fees, chargeback fees, and possibly additional costs based on your business’s level of risk.

Pricing with Payment Cloud will vary depending on the industry and the merchant’s prior processing history. However, it is generally moderately competitive.

Pros Of Payment Cloud

• Competitive Pricing
• Payment Aggregation
• Subscription and Recurring Billing Support
• Multi-Currency Support

Cons of Payment Cloud

• Doesn’t have as strong of a European bank presence as other processors

Below are our favorite picks for alternatives to Payment Cloud. Remember that Payment Cloud focuses on high-risk merchants, so you will notice we feature companies that prioritize hard-to-place merchants, such as ourselves at Corepay.

Corepay 

Corepay enables businesses to tailor their payment processes to fit specific needs and preferences, offering seamless integration with mobile apps for an enhanced user experience. Known for our reliability, Corepay is a trusted solution for high-risk payments, prioritizing the security of customer data and transactions. With over 20 years of experience, we have partnered with numerous adult and high-risk merchants. Corepay stands out as a top alternative, providing competitive rates that are unmatched by others in the industry.

Pros of Corepay

• Competitive Pricing
• Swift Pre-approve – done in-house
• High-Volume Handling
• Multi-Currency Support
• Advanced Security
• Mobile Payment Integration
• Waived fees
• 24/7 Support
• Chargeback solutions

Cons of Corepay

• Potential bank approval time from the acquiring bank (This happens with all direct merchant accounts).

Verotel

Verotel, founded in 1998, is a prominent payment processing provider specializing in high-risk sectors such as adult entertainment and digital goods. It offers versatile payment solutions, advanced fraud protection, and a secure gateway. With global reach and support for multiple currencies, Verotel caters to international businesses.

However, its services come with relatively high processing fees, often exceeding 12%, and a complex fee structure. Despite these drawbacks, Verotel’s robust security and extensive capabilities make it a viable option for many merchants.

Pros of Verotel

• Versatile Payment Solutions
• Advanced Fraud Prevention
• Broad Merchant Acceptance
• Worldwide Accessibility
• Multi-Currency Support
• Robust Security Measures

Cons of Verotel

• High Processing Fees
• Complex Fee Structure
• Limited Customization
• Potential Setup Time
• Service Availability

CC Bill

CCBill was founded in 1998 and is a prominent payment processing provider known for its expertise in handling high-risk industries. The company offers solutions for adult entertainment, digital goods, and subscription services.

CCBill is recognized for its transparent, fixed-rate pricing and ability to accept various legal merchants. While it robustly supports high-risk businesses and international transactions, CCBill’s services come with higher processing fees and a non-negotiable rolling reserve.

CC Bill Pros

• Suited for specialized high-risk industries
• Transparent, fixed-rate fees
• Accepts a broad range of legal merchants
• No recurring monthly fees
• No early termination penalties
• Multi-currency support for international transactions

Cons of CC Bill

• High processing rates
• Non-negotiable rolling reserve required
• Minimum six-month hold on account payouts upon cancellation

Why Corepay Is The Best Payment Cloud Alternative

Corepay makes as the best choice for the following reasons:

• Competitive Pricing Structure: We offer cost-effective processing rates to maximize your profitability and support your business growth.
• Swift Approval Process: Our efficient approval system enables merchants to start processing transactions quickly, typically within 24-72 hours.
• High-Volume Transaction Handling: Our specialized payment gateway is designed to manage substantial transaction volumes effectively for high-risk businesses.
• Multi-Currency Capabilities: We support payments in various currencies, helping you reach a global audience.
• Stringent Security Measures: Our PCI-Level 1 secure payment gateway is rigorously tested and continuously monitored to ensure the highest level of security.
• Mobile Payment Integration: Accept payments via mobile devices seamlessly, catering to today’s mobile-savvy consumers.
• Fee Waivers: Benefit from a transparent pricing model with no application, setup, or annual fees, allowing you to focus on growing your business without additional financial burdens.
• 24/7 Customer Support: Our dedicated support team is available around the clock to address any questions or issues, ensuring your satisfaction and success.