Was your application with Payment Depot declined because you were deemed high-risk? Well, you’ve come to the right place. At Corepay, we have been boarding high-risk merchants for nearly ten years are we are confident we can assist.
Founded in 2013 and based in Orange County, California, Payment Depot has established itself as a significant player in the payment processing industry, known for its focus on transparency and affordability.
As a merchant account provider and credit card processing company, Payment Depot offers a membership-based pricing model that eliminates hidden fees and long-term contracts.
While this approach is beneficial for small to medium-sized businesses, high-risk merchants often encounter unique challenges that require specialized payment solutions. If you’re looking for alternatives to Payment Depot for high-risk processing, we’ll outline the best options and explain why we believe we’re the top choice.
Key Takeaways
- We believe we are the top alternative to Payment Depot for high-risk merchants.
- Payment Depot primarily serves low to medium-risk sectors, which may not be suitable for all business models.
- High-risk merchants face specific challenges that low-risk businesses do not.
What Is Payment Depot?
Payment Depot is a merchant account provider that aims to deliver transparent, cost-effective solutions for businesses. Its membership model allows merchants to access wholesale rates for credit card processing, making it an attractive option for those looking to reduce transaction costs. However, its offerings may not fully address the complexities faced by high-risk merchants.
Payment Depot Overview
Founded in 2013 by a team of payment industry veterans, Payment Depot was created to simplify and enhance the payment processing experience. The company’s innovative approach includes a flat-rate pricing structure, which helps merchants understand their fees clearly and manage costs more effectively.
Payment Depot provides a variety of services, including payment processing, point-of-sale solutions, and e-commerce tools. While its services are versatile, high-risk sectors may require more specialized solutions tailored to their unique needs.
Industries Served by Payment Depot
Payment Depot primarily focuses on:
- Retail
- E-commerce
- Restaurants
- Professional Services
Pricing Structure
Payment Depot’s membership-based pricing typically involves a monthly fee plus transaction rates, which can be competitive for low to medium-risk businesses. However, high-risk merchants might find more favorable options elsewhere that cater specifically to their requirements.
Advantages of Payment Depot
- Transparent membership pricing
- No hidden fees
- Versatile payment solutions
Disadvantages of Payment Depot
- Very restricted support for high-risk sectors
Alternatives to Payment Depot
If you’re searching for suitable alternatives to Payment Depot for high-risk payment processing, here are our top choices.
CorePay
CorePay specializes in payment solutions designed specifically for high-risk businesses. With over two decades of experience, we provide competitive rates and robust security features, ensuring a seamless processing experience.
Benefits of CorePay:
- Competitive pricing
- Quick in-house pre-approval
- Capacity for high-volume transactions
- Strong security measures
- No hidden fees
- 24/7 customer support
- Chargeback management solutions
Drawbacks of CorePay:
- Possible approval time from the acquiring bank
CCBill
Founded in 1998, CCBill is renowned for its expertise in high-risk payment processing, offering comprehensive tools for subscription management and recurring billing.
Pros of CCBill:
- Ideal for high-risk sectors
- Transparent fixed-rate pricing
Cons of CCBill:
- Higher processing fees
- Rolling reserves may be required
Verotel
Established in 1998, Verotel specializes in high-risk markets, providing a secure payment gateway with various payment options and currencies.
Pros of Verotel:
- Versatile payment options
- Advanced fraud protection
Cons of Verotel:
- Higher processing fees
- Complicated fee structure
Why We Believe We Are the Best Alternative to Payment Depot for High-Risk
- Cost-Effective Pricing Structure: We offer competitive processing rates specifically designed for high-risk businesses.
- Rapid Approval Process: Our streamlined onboarding allows for quick access, with approvals typically completed within 24-72 hours.
- High-Volume Transaction Capability: Our payment gateway is built to handle substantial transaction volumes efficiently.
- Multi-Currency Support: We facilitate payments in various currencies, expanding your global reach.
- Robust Security Protocols: Our PCI-Level 1 secure payment gateway ensures top-tier security for your transactions.
- Mobile Payment Integration: Accept payments seamlessly via mobile devices, catering to today’s tech-savvy consumers.
- Transparent Fee Structure: Enjoy a pricing model without application, setup, or annual fees, allowing you to focus on growth.
- 24/7 Customer Support: Our dedicated support team is always available to assist with any inquiries or concerns.
If you’re looking to accept payments and having trouble, fill out the form below and find out what Corepay can do for you.