PaymentCloud Review

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 unable to locate any PaymentCloud complaints that mention misrepresentation or nondisclosure by the company’s sales team. This may indicate that the company exercises a greater-than-usual amount of control over the conduct of its ISO offices.

The PaymentCloud homepage currently quotes “Swipe Rates Starting at 0.39%.” This rate is almost certainly the lowest available qualified debit card rate for merchants who are on tiered pricing, which means that it is not likely to apply to the vast majority of mid-qualified or non-qualified transactions. We consider this type of rate quote to be deceptive because it could give merchants an unrealistic expectation of what they will pay. This is doubly true for high risk merchants, as high risk industries almost always have to pay higher-than-average transaction fees.

Although PaymentCloud has not received negative feedback about its sales tactics, we have slightly lowered its score in this section due to its lack of organizational transparency and its use of a “teaser” rate on its homepage.

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. This is especially true of merchants in high risk industries.

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-cancellable 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.

Given the lack of information about PaymentCloud’s contract terms, we have assigned the company an “A” rating at this time. However, merchants should be sure to 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.

We are unable to locate any negative PaymentCloud reviews, which is a strong indicator that the company isn’t a scam or a ripoff. In fact, there do not appear to be any positive or negative merchant reviews of PaymentCloud anywhere on the internet. Given the fact that the company claims to have been operating in the high risk sector for at least seven years, it is surprising that there is no merchant feedback about PaymentCloud. This may be due to a past rebranding, a small merchant base, or simply excellent service from PaymentCloud. 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.

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.