PaymentCloud is a California-based credit card processing service that specializes in low, medium, and high-risk merchant accounts. Over the years, PaymentCloud has established itself as a reputable brand in the payments sector. PaymentCloud, which serves customers in North America and the EU, aims to provide unparalleled solutions for safe retail, moto, and e-commerce transactions.
Understanding Paymentcloud
According to the company, which has been in business since 2015, tens of thousands of businesses are served countrywide. PaymentCloud not only offers credit card processing services but also a range of company lending and financing options. Retailers and e-commerce companies can securely expedite payment processes with the use of PaymentCloud.
The handling of point-of-sale (POS) transactions, card authentication, remote access, ACH payment processing, recurring payments, and payment processing for alternative payment types including cryptocurrency, are important functions and features of PaymentCloud services. They also offer both traditional and e-commerce terminals, with fully functional customer service.
How Paymentcloud Works
In addition to identifying fraudulent actions and guaranteeing compliance with PCI security regulations, the system gives its clients the ability to process a variety of credit cards, including Visa, MasterCard, and Discover. Operators are able to set up merchant accounts, receive payments made with credit or debit cards, and transfer monies to the bank accounts of their companies. By using credit repair accounts, high-risk firms can lessen the effects of chargebacks and improve credit scores.
The system aids nonprofits in collecting, processing, and securely storing donor information in addition to collecting and processing individual gifts. It is also important to note that, they do not charge application or set up fees for account sign-ups, and also provide low rates, quick and simple application and approval processes, and alternatives for both in-person and online transactions.
PaymentCloud supports OpenCart, Volusion, PrestaShop, 3DCart, BigCommerce, Magento, Ordoro, Drupal, Weebly, and others. They also feature a virtual terminal function that lets e-commerce shops accept credit/debit cards and cheques online while collecting user data such as name, account information, amount, and frequency of transactions.
Paymentcloud Rating, Reviews, and Features
Across various digital platforms, PaymentCloud has had excellent reviews in the past year and also in 2023, with an average rating of 4.4 out of 5 stars on most websites. Their customer service & technical support, products & services, and reviews & complaints have excellent ratings and reviews by all standards across different digital platforms. They also have good ratings with regard to their fees & pricing, sales & advertising transparency, and contract length & early termination fees.
In general, most PaymentCloud users find the platform to be great. Numerous evaluations highlight PaymentCloud’s excellent customer service and user-friendliness. There are some complaints, however, about how long it takes to process the application, even though this is typical of high-risk enterprises and frequently expected.
PaymentCloud has a ton of features available that they offer their clients. Some of these features include; ACH Payment Processing, API, Accounting Integration, CRM, Compliance Management, Contactless NFC, Credit Card Management, Credit Card Processing, Cryptocurrency Processing, Customer Database, Data Security, Debit/Credit Card Processing, Electronic Payments, Electronic Signature, Fraud Detection, In-Person Payments, Mobile Access, Mobile Card Reader, Mobile Commerce, Mobile Payments, Multi-Currency, Online Payments, PCI Compliance, Payment Processing Services Integration, Point of Sale (POS), Receipt Management, Recurring/Subscription Billing, Remote Access/Control, Reporting/Analytics, Returns Management, Shopping Cart, Social Media Integration, Third Party Integration’s and e-commerce Management.
Unique Features of Paymentcloud
#1. In-person POS Payments
Credit cards can be swiped, inserted, tapped, and accepted along with QR codes during in-person transactions using PaymentCloud. PaymentCloud also facilitates the sale of card readers and terminals but also offers to reprogram existing equipment owned by merchants so that it becomes compatible with their system.
Additionally, through NFC-enabled gadgets like Apple Pay and Google Pay, merchants may also accept contactless payments. Paysley, which is owned by PaymentCloud, also enables text message and QR code payment acceptance.
See Also WHAT IS A POS: How It Works, Insurance & What You Should Know
#2. Online Payments
Setting up businesses to accept payments online is simple with PaymentCloud. Numerous well-known e-commerce platforms, including BigCommerce, Shopify, WooCommerce, WordPress, and Shift4Shop, can be integrated with it.
It is also possible to send personalized payment pages or links to clients in addition to including a shopping cart or buy button on the website. There are also virtual terminals that allow businesses to accept payments by keying in the required card details.
#3. ACH & eCheck Payments
Additionally, ACH payments and eChecks can be accepted by businesses thanks to PaymentCloud. Its ACH and eCheck payment options support subscriptions, recurring billing, and invoicing of customers.
#4. Cryptocurrency Payments
Customers can quickly add a Bitcoin checkout option to their payment page using PaymentCloud. Setting up a Bitcoin merchant account is necessary for this choice, and PaymentCloud does the heavy lifting for its clients. Transaction fees for cryptocurrencies are distinct from processing fees for traditional payments and price quotations are available upon request, just like any other fees associated with PaymentCloud.
Paymentcloud Pricing
Currently, there is no pricing information available on PaymentCloud’s website. Many merchant account providers, especially those who cater to high-risk industries, engage in this behavior frequently. Prices are extremely erratic and usually vary from one retailer to the next.
Although the application procedure for PaymentCloud can be time-consuming, it is particularly useful for the medium and high-risk firms it serves because prices are more likely to differ across clients and industries. The kind of business, processing history, sales volume, credit history, and other criteria will all affect the processing rates and account fees charged.
PaymentCloud supports both tiered pricing and interchange-plus pricing structures, while precise prices are not made public. Also, rate and fee negotiation is possible with PaymentCloud to help clients find the most affordable pricing model for their businesses. The price table below shows possible fees for merchants employing PaymentCloud services. This is based on average mid-risk and high-risk merchant services.
| Monthly fee | $10 – $45 |
| Low-risk transaction fee | 2% – 3.1% |
| Ave. mid-risk transaction fee | 2.3% – 3.4% |
| Ave. high-risk transaction fee | 2.7% – 4.3% |
| Payment gateway fee | $15/month |
| Virtual terminal fee | $15 – $45 |
| Charge-back fee | $25 |
| Ave. rolling reserve | 0% – 10% |
| Early termination fee | Waived |
Top Alternatives to Paymentcloud
Some of the great alternative merchant account providers one could easily consider besides PaymentCloud include;
#1. CSG Forte
In order to collect payments online in a number of formats, such as credit cards and eChecks, as well as to validate checks, CSG Forte offers a comprehensive payment solution. Additionally, businesses can use CSG Forte to handle recurring billing, include a secure checkout into their website, accept payments from mobile devices irrespective of location, and monitor and analyze all payment activity from a single interface.
They also offer advanced features to simplify and secure payment processing. You can try out their services for free and then subscribe to them if you like what you see. They have an average rating of 4.4 out of 5 stars and no public price information for their services is available.
#2. Paypal
The PayPal commerce platform is a comprehensive solution that provides its customers the ability to interact with more than 295 million PayPal users globally across numerous platforms and marketplaces by utilizing their two-sided network.
Paypal makes it easy for businesses to; accept payments and make payments anywhere directly to and from their accounts, manage risks by protecting against frauds, accelerate growth for businesses, and streamline operations. Paypal has a whopping 4.6 out of 5-star rating and is completely free to use, with fees only charged per transaction at a rate of 2.5% + Fixed fee ( $0.041).
#3. Venmo
Customers can send and receive money using their mobile devices by using Venmo, a digital wallet and payment gateway. Users of the service have the option of sending money from their Venmo account or by directly linking their bank accounts or debit cards through the app. Consumers can initiate payments as well as send and receive payments from friends and contacts by choosing a contact’s name, @username, phone number, or email. Every transfer can either be cashed out instantly to a bank account or saved as a Venmo balance for later use.
To utilize the service, users are required to link a credit card, debit card, or bank account. Customers can make payments safely and securely with Venmo since it encrypts payment information.
Venmo features some unique attributes such as the Venmo feed, which enables brands to generate exposure as users share their purchases with friends and contacts via their Venmo feed. Also, Venmo provides a find contacts feature that enables customers to find contacts automatically through Facebook syncing and phone contacts and also split and share payments for purchases. They support online payments as well as ACH Payment Processing and Debit/Credit Card Processing. They have a 4.6 out of 5-star rating and are free to use.
#4. 360 Payments
Using a single platform, 360 Payments, an online payment processing tool, enables businesses to manage both mobile and in-person payments. By using the program, e-commerce enterprises can improve the shopping experience for customers, validate transactions, and accept payments made by a variety of means, such as credit or debit cards, ACH transfers, and EMV chip cards.
Businesses can send text messages to clients to share invoices and ease recurring billing processes. The tool enables businesses to synchronize financial information between different shopping cart and payment gateway platforms, including; WooCommerce, Shopify, Magento, Zencart, Weebly, Blackline, Bridgepay, Sage, and others. Additionally, 360 Payments has a reporting feature that enables managers to create financial reports instantly.
These features offered by 360 payments; Debit/Credit card processing, multiple payment options, In-Person payments, ACH payment processing, combined with a 4.7 out of 5-star rating makes it an excellent contender and PaymentCloud alternative in the merchant service providers sector.
Paymentcloud Pros and Cons
A few pros and cons associated with PaymentCloud include;
Pros
- PaymentCloud sells a variety of hardware, making it easy for both brick-and-mortar and online customers and businesses to make their preferred choice and find what they need. Additionally, they can also reprogram existing card readers to support their system.
- PaymentCloud supports integration with a ton of online stores making it a preferred service provider for e-commerce businesses.
- They can also offer customized high-risk payment gateway through a number of gateway companies.
Cons
- There is no publicly disclosed pricing for their services.
- The application process is usually lengthy and takes a while for approval.
How does cloud Payment work?
Cloud payments allow for transactions on any digital device, free of the restrictions of a traditional POS system. Payments are made possible by various servers hosting and sharing data across the globe giving cloud payments infinite flexibility.
How long does PaymentCloud take to deposit?
Depending on stipulations and documents relating to the client’s accounts, deposits could be completed in 48 hours or more.
Who are the typical users of PaymentCloud?
PaymentCloud has the following typical customers: Freelancers, Large Enterprises, Mid Size Businesses, Non-Profit, Public Administration, and Small Businesses.
How much does PaymentCloud Charge?
PaymentCloud rates depend on the terms established in the merchant agreement, though, the company does not charge any application or setup fees.
To Conclude
The best high-risk merchant account for small businesses overall is PaymentCloud. They provide excellent customer service and defense against chargebacks and fraud. Additionally, they provide a number of hardware and services for mobile, storefront, and internet retailers as well as hands-on guidance for merchants during and after onboarding.
Payment Cloud FAQs
Is PaymentCloud a payment gateway?
PaymentCloud does not offer its own payment gateway.
Who owns PaymentCloud?
Shawn Silver is the owner of PaymentCloud.
How long does PaymentCloud payment take?
PaymentCloud payments take between 24 – 48 hours.
What level of support does PaymentCloud offer?
PaymentCloud offers the following support options: FAQs/Forum, Knowledge Base, Email/Help Desk, and Phone Support.
