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Card processing review

PaymentCloud

PaymentCloud, an agent that places businesses other processors turn down with several acquiring banks. Rates, fees and contract terms are by quote; it publishes deposits in 24 to 48 hours, phone hours seven days a week and no application or setup fee. Listed with the same template, not scored.

By PaymentCloudParent company: PaymentCloud LLC (private)
Listed, not scored

Not enough verified data yet

We've verified 5 of 12 key facts for this processor. Until we reach 80%, this page shows what we have, with sources, and it isn't a full review.

Our verdict

An option if your restaurant or bar was turned down elsewhere; before signing, ask for the rates, monthly fees, reserve, term and early termination fee in writing.

What we like

  • Places businesses that standard processors decline, with several acquiring banks.
  • No application, activation or setup fee, and deposits in 24 to 48 hours.
  • Can reprogram the restaurant POS you already have.

What to watch

  • No published rates, monthly fees or exit terms: everything is by quote and depends on the bank that approves you.
  • High-risk accounts usually carry reserves; the bank picks the type and keeps it up to 180 days after you close.
  • No published dual pricing or surcharge program.

How the score breaks down

We don't score this type of product. It's listed with the same template so you can check its pricing, contract and data with sources; the methodology explains why. How we score

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Type of processor and pricing
Data pointValue
Type of processorHigh-risk specialistSource: PaymentCloud (opens in a new tab)An agent that places merchants with several acquiring banks, focused on businesses other processors turn down.
Pricing modelQuote onlySource: PaymentCloud (opens in a new tab)By quote: tiered pricing for many merchants, interchange-plus if you have processing history.
Published pricing (points out of 100)0Source: PaymentCloud (opens in a new tab)Counted (same rubric for every vendor): no in-person or online rate, markup, monthly fee or early termination fee published, and of the other fees only that it charges no application or setup fee (0).
Card rates
Data pointValue
In-person rateQuote onlySource: PaymentCloud (opens in a new tab)By quote, according to your business and risk profile. Its fee guide gives high-risk industry averages (3.49% to 3.95% plus about 25¢), not its own price list.
In-person fee per transactionQuote onlySource: PaymentCloud (opens in a new tab)By quote, according to your business and risk profile. Its fee guide gives high-risk industry averages (3.49% to 3.95% plus about 25¢), not its own price list.
Online rateQuote onlySource: PaymentCloud (opens in a new tab)By quote, according to your business and risk profile. Its fee guide gives high-risk industry averages (3.49% to 3.95% plus about 25¢), not its own price list.
Online fee per transactionQuote onlySource: PaymentCloud (opens in a new tab)By quote, according to your business and risk profile. Its fee guide gives high-risk industry averages (3.49% to 3.95% plus about 25¢), not its own price list.
Keyed-in rateQuote onlySource: PaymentCloud (opens in a new tab)By quote, according to your business and risk profile. Its fee guide gives high-risk industry averages (3.49% to 3.95% plus about 25¢), not its own price list.
Keyed-in fee per transactionQuote onlySource: PaymentCloud (opens in a new tab)By quote, according to your business and risk profile. Its fee guide gives high-risk industry averages (3.49% to 3.95% plus about 25¢), not its own price list.
American Express pricingQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
American Express rateQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Rates by monthly volumeQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Monthly and other fees
Data pointValue
Monthly account or plan feeQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Annual fee per accountQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Annual fees per device or locationQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
PCI compliance fee (yearly)Quote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
PCI non-compliance fee (monthly)Quote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Statement feeQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Monthly minimumQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Fee per batchQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Chargeback feeQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Other feesNo application, activation or setup fee. Every other fee is in your quote.Source: PaymentCloud (opens in a new tab)
Equipment
Data pointValue
How you get the equipmentUse compatible equipment you haveSource: PaymentCloud (opens in a new tab)It reprograms the POS you have. It also offers POS systems and terminals (Clover, PAX, Dejavoo, Verifone and others); whether you buy or lease them isn't published.
Price of a countertop terminalQuote onlySource: PaymentCloud (opens in a new tab)Not published.
Equipment lease you can't cancelUnconfirmedSource: PaymentCloud (opens in a new tab)Its site doesn't say whether it leases equipment or on what terms.
Equipment lease termUnconfirmedSource: PaymentCloud (opens in a new tab)Its site doesn't say whether it leases equipment or on what terms.
Equipment at $0 upfront: what it commits you toUnconfirmedSource: PaymentCloud (opens in a new tab)We found no $0-upfront equipment offer.
Equipment only works with this processorUnconfirmedSource: PaymentCloud (opens in a new tab)Not stated on its site.
Getting your money
Data pointValue
Standard deposit speedTwo business daysSource: PaymentCloud (opens in a new tab)Within 24 to 48 hours, as its restaurant page says.
Instant payout feeUnconfirmedSource: PaymentCloud (opens in a new tab)We found no instant payout option on its site.
Holds and reservesThe acquiring bank may require a reserve (rolling, capped or up front) and picks the type at underwriting. PaymentCloud says you can ask to release it after three to six months of processing and that after an account closes banks usually keep it 180 days. Its fee guide says high-risk reserves are often 5% to 10% of volume held 90 to 180 days.Source: PaymentCloud (opens in a new tab)
Contract and exit
Data pointValue
Contract termQuote onlySource: PaymentCloud (opens in a new tab)Set in the merchant agreement of the bank that approves you; its restaurant page offers short-term and month-to-month agreements on request.
Automatic renewalQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Notice to avoid renewalQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Notice to cancelQuote onlySource: PaymentCloud (opens in a new tab)Not published: it's in the quote and the merchant agreement of the bank that approves you.
Early termination feeQuote onlySource: PaymentCloud (opens in a new tab)Not published; it's in the bank's merchant agreement. Ask for the exact exit cost in writing before signing.
How the early termination fee is calculatedQuote onlySource: PaymentCloud (opens in a new tab)Not published. Its restaurant page offers short-term and month-to-month agreements on request; the term and any early termination fee are in the merchant agreement of the bank that approves you.
Liquidated damages clauseUnconfirmedSource: PaymentCloud (opens in a new tab)The bank's merchant agreement isn't published.
Price increases during the contractUnconfirmedSource: PaymentCloud (opens in a new tab)The bank's merchant agreement isn't published.
Right to raise pricesUnconfirmedSource: PaymentCloud (opens in a new tab)The bank's merchant agreement isn't published.
Personal guarantee by the signerUnconfirmedSource: PaymentCloud (opens in a new tab)The bank's merchant agreement isn't published; its FAQ says banks run a credit check on the applicant.
Dual pricing and surcharges
Data pointValue
Dual pricing or surcharge programNoSource: PaymentCloud (opens in a new tab)PaymentCloud publishes no dual pricing, surcharge or cash discount program of its own; its blog explains how these programs work and offers a fee review.
Cards the program coversN/ASource: PaymentCloud (opens in a new tab)No published program.
Monthly fee for the programN/ASource: PaymentCloud (opens in a new tab)No published program.
Your POS and your business
Data pointValue
Works with these restaurant POSClover, OthersSource: PaymentCloud (opens in a new tab)Clover appears among the hardware brands on its restaurant page (with Dejavoo, PAX, Verifone and others); it doesn't name the restaurant POS software it integrates with.
Requires the vendor's own POSNoSource: PaymentCloud (opens in a new tab)
Monthly volume it's built forUnconfirmedSource: PaymentCloud (opens in a new tab)No minimum published; its FAQ suggests asking for a $5,000 or $10,000 monthly processing limit to start.
Accepts high-risk businessesYesSource: PaymentCloud (opens in a new tab)
Routes debit to the lowest-cost networkUnconfirmedSource: PaymentCloud (opens in a new tab)Not stated on its site.
Support
Data pointValue
24/7 support for merchantsUnconfirmedSource: PaymentCloud (opens in a new tab)Unclear. Its restaurant and retail pages say 24/7 merchant support, but its contact page publishes phone hours (Monday to Friday 7 a.m. to 6 p.m., Saturday 7 a.m. to 3 p.m., Sunday 9 a.m. to 5 p.m., Pacific time) and no page names a channel open around the clock.
Support channelsPhone, Email or formSource: PaymentCloud (opens in a new tab)Phone, email and a contact form, with a dedicated account manager.
Language
Data pointValue
Support in SpanishUnconfirmedSource: PaymentCloud (opens in a new tab)PaymentCloud doesn't say it offers support in Spanish.
Merchant dashboard in SpanishUnconfirmedSource: PaymentCloud (opens in a new tab)Not stated.
Contract or terms in SpanishUnconfirmedSource: PaymentCloud (opens in a new tab)The bank's merchant agreement isn't published.
US website in SpanishNoSource: PaymentCloud (opens in a new tab)Its US site is in English only; we found no Spanish version.

More about PaymentCloud

How we score