Payment Depot Review 2025: Features, Pricing, Alternatives

Payment Depot uses an interchange-plus pricing model, and markups vary from business to business.
Whitney Vandiver Hillary Crawford

Written by

Hillary Crawford , Whitney Vandiver
Hillary Crawford ,
Whitney Vandiver
Christine Aebischer

Edited by

Christine Aebischer
Christine Aebischer

Edited by

Christine Aebischer
Last updated on Jan 14, 2025

Fact checked and reviewed

Why trust NerdWallet

Advertiser disclosure

Whitney Vandiver Hillary Crawford

Written by

Hillary Crawford , Whitney Vandiver
Hillary Crawford ,
Whitney Vandiver
Christine Aebischer

Edited by

Christine Aebischer
Christine Aebischer

Edited by

Christine Aebischer
Last updated on Jan 14, 2025

Fact checked and reviewed

Why trust NerdWallet

Advertiser disclosure

Payment Depot

Overview

The bottom line:

Payment Depot is a payment processor owned by Stax. Customers pay interchange plus an additional percentage fee on each transaction, but there are no monthly subscription costs. The provider’s pricing makes it a good option for small businesses willing to explore cost-saving options outside of flat-rate processors.

Software details

Payment processing fees

0.2% + $0.00

to 1.95%, plus interchange.

Monthly fee

$0

Pros & Cons

Pros

    pros icon
    Businesses save when customers use cards with low interchange rates.
    pros icon
    Compatible with several POS hardware providers, including Clover.
    pros icon
    No cancellation fees.

Cons

    cons icon
    Charges PCI compliance fees.
    cons icon
    Accounting integrations may cost extra.

Full review

Payment Depot lets merchants process credit card payments in person and online. Instead of charging a monthly membership fee, it charges 0.2% to 1.95% on top of interchange rates. Plus, customers can cancel whenever they want without paying early termination fees.
To accommodate in-person transactions, Payment Depot sells point-of-sale (POS) hardware from companies like Clover, SwipeSimple and Dejavoo. For online payments, the company integrates with a variety of shopping carts and e-commerce platforms including WooCommerce, BigCommerce and OpenCart. Alternatively, if you don’t use one of those platforms, you can use Authorize.net’s payment gateway to accept online payments.
Other features include a performance analytics dashboard, as shown below, that displays how many new versus returning customers your business has and lets you compare key data points, like net sales and number of transactions completed, across weeks, months and years. You can also use the dashboard as a virtual terminal to manually enter customers’ credit card information if you’re completing a sale over the phone, for example.
Payment Depot's performance analytics dashboard

Source: YouTube

Payment Depot is best for businesses that:

  • Prefer an interchange-plus solution: As opposed to flat-rate pricing that charges the same rate per transaction, regardless of how interchange rates fluctuate, Payment Depot’s interchange-plus model passes along the interchange rate and a consistent percentage on top of it. That means you save when customers use cards that carry low interchange fees. If you expect your business to grow and complete more sales as the years go on, interchange-plus pricing will likely result in lower processing costs than flat-rate pricing. 
  • Want rates tailored to their business: Payment Depot isn’t the only interchange-plus processor, but it’s one of the few that tailor markups to your business. This may leave some room for negotiation when it comes to how much you pay on top of interchange. Other interchange-plus processors, like Helcim, charge the same margin across business types, unless you qualify for a volume discount.  

Deciding factors

Payment processing model
Interchange-plus.
Payment processing fees
0.2%-1.95% plus interchange.
Monthly fee
$0.
Hardware cost
  • $125 for SwipeSimple B350 Reader.
  • $310 for QD4 Dejavoo.
  • $495 for QD2 Dejavoo.
  • $725 for Clover Flex.
  • $990 for Clover Mini.
  • $1,899 for Clover Station Solo.
  • $2,195 for Clover Station Duo.
Contract length
No long-term contracts or termination fees.
Customer support
Phone, chat and email support on weekdays 8 a.m. to 6 p.m. EST.

Where Payment Depot stands out

Interchange-plus pricing

Many competitors, like Square or Stripe, charge a flat fee for each transaction. While this pricing model is easy to understand, it doesn’t pass interchange savings to the business. With interchange-plus pricing, markups are consistent, but interchange varies from transaction to transaction. That means businesses save when customers use cards that have lower interchange fees.

Compatible with different hardware

Payment Depot sells a variety of credit card terminals, which allow you to accept payments in person, from brands that include Clover, Dejavoo and SwipeSimple. You can choose from mobile-only card readers, standard terminals and full POS terminals that resemble traditional cash registers. Depending on the model and POS system, features could also include inventory management, discounts, reporting and employee management. If you already have a terminal, Payment Depot may be able to reprogram it.

Where Payment Depot falls short

Extra costs can add up

Payment Depot charges a $10 PCI compliance fee each month — that adds up to an extra $120 per year. Lots of competitors, including Square, don't do this. Additionally, it may cost extra to sync with accounting software. That's because direct integrations aren't built into Payment Depot. Instead, you need to use a third party app.

Alternatives to Payment Depot

Square

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. Read our full Square review.
  • $0 for Square Free plan.
  • $49 for Square Plus plan.
  • $149 for Square Premium plans.
  • 2.6% plus 15 cents for in-person transactions with Free plan.
  • 3.3% plus 30 cents for online transactions with Free plan.
  • 2.5% plus 15 cents for in-person transactions with Plus plan.
  • 2.4% plus 15 cents for in-person transaction with Premium plan.
  • 2.9% plus 30 cents for online transactions with Plus and Premium plans.
  • 3.5% plus 15 cents for manually keyed transactions.
  • $0 for Square magstripe-only card reader ($10 for each additional reader) or if using Tap to Pay for iPhone (iPhone not included).
  • $59 for Square Reader contactless and chip card reader.
  • $149 for Square Stand iPad POS or Square Stand Mount (iPad not included; monthly financing available).
  • $149 for Square Kiosk for self-serve ordering.
  • $299 for Square Terminal mobile card reader with built-in printer (monthly financing available).
  • $399 for Square Handheld portable POS system with built-in barcode scanner (monthly financing available).
  • $799 for Square Register two-screen system (monthly financing available).

Payline

Why we like it: Payline offers a variety of shopping cart integrations for e-commerce businesses, but its real standout feature is the fact that it supports businesses in high-risk industries. These industries include CBD, credit mending, vitamins and supplements, and travel. Merchants are paired up with a dedicated support manager, and the first one to two months may be free. Read our full Payline review.
Quote-based.
  • Interchange plus 0.35% and 10 cents for in-person transactions.
  • Interchange plus 0.5% and 20 cents for online transactions.
Offers mobile card readers, countertop terminals and full POS systems. Cost varies by provider and is quote-based.

Methodology

NerdWallet’s ratings of payment processing providers rewards companies whose products and services are priced well and work in a variety of payment scenarios, among other criteria.
Ratings are based on weighted averages of scores in several categories, including overall cost, hardware and software options, system capabilities, customer service, contract requirements and integrations. Learn more about how we rate payment processing providers.
These ratings are a guide, but fees, hardware, software and contract requirements can vary widely from business to business and provider to provider. We encourage you to shop around and compare several providers.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.