Specializing in Hard-To-Place Business Types
Headquartered in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in credit card processing solutions for high risk business types. The company does not publicly list any information about its founding date or its executive leadership, but some of the copy on its site makes reference to its work over the past seven years. Additionally, there is evidence that the company is a reseller of Electronic Merchant Systems.
Multiple Partner Banks
PaymentCloud’s acquiring bank is not listed on its website, possibly because high risk credit card processors tend to work with multiple acquirers. PaymentCloud’s headquarters are located at 15165 Ventura Blvd #245, Sherman Oaks, California 91403. PaymentCloud’s CEO is Shawn Silver, the former vice president of high risk at iPayment.
PaymentCloud Review Table of Contents
- Costs & Contract: PaymentCloud offers a contract of variable length that not charge setup or cancellation fees. The company also relies on Authorize.Net as an online payment gateway.
- Complaints & Service: PaymentCloud has received fewer than 10 public complaints.
- BBB Rating: PaymentCloud does not have a rating with the Better Business Bureau at this time.
- Sales & Marketing: PaymentCloud appears to hire independent sales agents but has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With PaymentCloud.
Types of Businesses Served
- High risk
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PaymentCloud Rates, Fees, and Costs
|Swiped Rate||3.00% - 6.50%|
|Keyed-in Rate||3.00% - 6.50%|
|Virtual Terminal Rate||2.90% + $0.30|
|Payment Gateway Fee||$25|
|Early Termination Fee||None|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||Undisclosed|
There is very little publicly available information about the standard PaymentCloud contract at this time. The company does not list its pricing or fees on its website, and there are no merchant complaints that specifically mention rates or fees. PaymentCloud serves a wide range of business types, including high risk businesses, so it is very likely that the company’s contract terms will fluctuate depending on each merchant’s processing history, risk level, chargeback rate, and sales volume. It is common for merchants in high risk sectors to pay higher per-transaction fees, so standard risk merchants may be better served by going with a cheap merchant account.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Payment Cloudalso dedicates a portion of its website that advertises its virtual terminal and payment gateway. The company’s website states that is relies on Authorize.Net as a payment gateway. Typical rates and fees with Authorize.Net include a transaction rate of 2.90% plus $0.30, a payment gateway fee of $25 per month, and a batch fee of $0.10..
Say No To Leases
One portion of the PaymentCloud website mentions that the company offers equipment leases, so merchants should be aware that equipment lease agreements may be included in the company’s standard merchant account paperwork. Equipment leases can sometimes take the form of non-cancelable agreements of up to four years and can cost thousands of dollars over their full terms. For this reason, merchants are almost always advised to purchase rather than lease equipment wherever possible.
No Significant Complaints
Given the lack of information about PaymentCloud’s contract terms, we have assigned the company an “A” rating at this time. One merchant complaint in the comment section of this review mentions rates from 3% to 6.5% and a cancellation fee of over $1,500. However, according to the PaymentCloud website, the company does not charge an early termination fee. However, merchants should be sure to carefully read and review all relevant documentation. If you have any knowledge of the standard PaymentCloud contract, please share that information in the comment section below this review.Are you happy with your PaymentCloud fees? Tell us about them before your go!
Response from PaymentCloud
Are you a representative of PaymentCloud? Add your voice to this section for free!
PaymentCloud Complaints & Customer Reviews
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Clean Complaint Record
We are unable to locate a couple of negative PaymentCloud reviews, and none accuse the company of being a scam or a ripoff. Given the fact that the payment processor claims to have been operating in the high risk sector for at least seven years, it is surprising that there is so little merchant feedback about PaymentCloud. This may be due to a small merchant base or simply excellent service from PaymentCloud. Merchants looking for gun merchant accounts, adult merchant accounts, nutraceutical merchant accounts, and other commonly declined industries can expect quality service from PaymentCloud.
No Red Flags
In the absence of any evidence to suggest that merchants are having negative experiences through the company, we have assigned PaymentCloud an “A” rating in this category. The company offers a phone number on its website, but it’s unclear if this line is dedicated to customer support.
We have not found any outstanding class-action lawsuits or FTC complaints filed against PaymentCloud. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
PaymentCloud Customer Support Options
Paymentcloud offers a dedicated phone email address to merchants for customer support. A technical support service email specifically for problems with the company’s virtual terminal services is also provided. The company’s website also provides a FAQ’s page for additional troubleshooting assistance. Additionally, a staff directory provides direct contact information for individual customer service agents. Merchant account providers renowned for their customer service quality typically host several options for reliable service.
PaymentCloud BBB Rating Summary
No Current Profile
The Better Business Bureau does not maintain a profile for PaymentCloud at this time. We therefore will not factor a BBB rating into this review.
Truth In Marketing & Advertising
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
No Widespread Sales Issue
PaymentCloud utilizes strategic partnerships, affiliate programs, and independent sales agents to market its services. The use of independent sales agents is usually linked to negative reviews within the credit card processing industry, but we are currently able to locate only one PaymentCloud complaint that mentions a potential misrepresentation of rates by the company’s sales team, but this appears to have been an isolated incident. This low complaint total may indicate that the company exercises a greater-than-usual amount of control over the conduct of its ISO offices.
At the time of a previous update, the PaymentCloud homepage quoted “Swipe Rates Starting at 0.39%.” This rate was almost certainly the lowest available qualified debit card rate for merchants who were on tiered pricing, which meant that it was not likely to apply to the vast majority of mid-qualified or non-qualified transactions. The company has since removed this quote, which has improved its score in this section.
From “B” to “A”
PaymentCloud has improved its marketing approach since our last update. Merchants who require especially high risk merchant accounts such as TMF/MATCH accounts or bad credit merchant accounts should be advised that they will likely pay much higher rates than the 0.39% that PaymentCloud formerly advertised.
About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services
I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.
From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.