Payment Depot Review 2023: Features, Pricing, Alternatives

Payment Depot offers cheaper interchange rates than many competitors but there is a monthly fee.
Whitney Vandiver
By Whitney Vandiver 
Edited by Sally Lauckner

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NerdWallet rating 

Payment Depot is a payment processor owned by Stax. It charges monthly subscription fees starting at $79, but customers only pay interchange rates for payment processing; there is no markup on transactions. Payment Depot's features, pricing and 24/7 support make it good for small businesses with high sales volumes.

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Deciding factors

Payment processing cost

Interchange plus $0 per transaction.

Hardware cost

Sells card readers as well as countertop and mobile point-of-sale hardware from Clover, Dejavoo, First Data, Poynt and SwipeSimple, but prices are undisclosed. You have to request a quote.

Contract length

No contracts.

Live support

Standard support is available 24/7.

How does Payment Depot work?

Payment Depot lets merchants process credit card payments in person and online. Instead of marking up the network-set interchange fees, Payment Depot charges a flat monthly fee and for add-on products. Businesses choose a plan based on the dollar amount they intend to process annually and pay the monthly fee for the chosen plan. There are no contracts, and customers can cancel whenever they want without paying early termination fees.

Payment Depot pricing

  • Payment Depot charges a monthly fee based on your processing volume.

  • Payment Depot does not charge a per-transaction fee on top of card network interchange fees, which is unlike its competitors.

  • Customers only pay the interchange rate for each transaction, and Payment Depot only gets the monthly subscription fee.

The monthly subscription fee is based on the dollar amount your business processes annually:

  • $79 if you process up to $250,000 per year.

  • Custom quote if you process more than $250,000 per year.

Customers might pay additional software fees if they choose additional services on top of payment processing, such as invoicing or certain integrations.

Payment Depot pros

No interchange markup

Not having to pay a markup on each transaction is a huge perk to working with Payment Depot, especially for businesses with high sales volumes. Many businesses, especially those with high sales volumes, may find this system much less expensive than working with competitors, such as Square or Stripe, which charge a fee for each transaction.

Compatible with different hardware

Card readers

Payment Depot sells a variety of credit card terminals, which allow you to accept payments in person, from brands that include Clover, Dejavoo, First Data, Poynt and SwipeSimple. Models include mobile-only card readers, standard terminals and full point-of-sale terminals that resemble traditional cash registers. Payment Depot may also be able to reprogram some terminals if you want to use what you already have.

Point of sale (POS)

Payment Depot sells Clover Mini LTE, Station and Station Pro POS systems. Depending on the model and POS system, features may also include inventory management, discounts, reporting and employee management.

Free virtual terminal

All Payment Depot customers have access to a free virtual terminal for entering credit card information manually without the need for a card reader. This is helpful for accepting cards over the phone or as a backup if a card reader experiences technical issues.

Payment Depot cons

No support library

Payment Depot doesn’t have a support library with articles and forums to troubleshoot issues on your own. You’ll need to call the support department or send a message through the website for help.

Alternatives to Payment Depot



  • 2.6% plus 10 cents for in-person transactions.

  • 2.9% plus 30 cents for online transactions.

  • 3.5% plus 15 cents for manually keyed transactions.

  • 3.3% plus 30 cents for invoices.

Why we like it: Unlike Payment Depot, which passes variable interchange rates along to the merchant, Square charges a set fee for each transaction. Card terminals are proprietary and include low-cost options. You can get your first magstripe reader for free. Square also offers Tap to Pay on iPhone, which lets merchants accept card payments using only a regular iPhone with the Square POS app. The company’s contract-free rates and intuitive POS system make it popular with small-business owners.

Square Payments

Shop Now

on Square's website

Payline Data


  • Interchange plus 0.4% and 10 cents for in-person transactions.

  • Interchange plus 0.75% and 20 cents for online transactions.

  • Pricing varies by card type for manually keyed transactions.

Why we like it: Payline Data has shopping cart integrations for e-commerce businesses. Unlike Payment Depot and many other competitors, Payline works with merchants in high-risk industries.

Payline Data

NerdWallet rating 
Shop Now

on Payline's website

A version of this article originally appeared on Fundera, a subsidiary of NerdWallet.

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