Specializing in High-Risk Industries and Hard-To-Place Businesses
Headquartered in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in credit card processing solutions for high-risk businesses. The company has been in operation since 2015 and claims to serve tens of thousands of business nationwide. Along with providing credit card processing services, PaymentCloud also offers a variety of business lending and financing programs.
Merchant Services & Credit Card Processing Processing
PaymentCloud processes most major debit and credit cards for most business industries and offers a large number of payment processing options. These payment acceptance options include EMV terminals, POS solutions, wireless payments, e-commerce gateways and shopping carts, mobile credit card processing, ACH, check processing, and cryptocurrency payments. Additionally, the company promotes a dedicated mobile app named “Paysley” which functions as a mobile point-of-sale system facilitating invoicing, and touchless payments among numerous other features.
Multiple Partner Banks
Payment Cloud partners with several acquiring banks which allows the company to achieve merchant accounts approvals for numerous industries that might otherwise find it difficult to obtain card processing services. This provider is a great option for “high-risk” businesses but also serves traditional businesses just as well. The company’s headquarters are located at 16501 Ventura Blvd Ste 300, Encino, CA 91436. PaymentCloud’s CEO is Shawn Silver, the former vice president of high risk at iPayment.
Table of Contents
- Costs & Contract: Offers a contract of variable length that does not charge setup or cancellation fees. The company also relies on…
- Complaints & Service: Has received fewer than 10 public complaints regarding…
- BBB Rating: Does not have a rating with the Better Business Bureau at this time but…
- Sales & Marketing: Appears to hire independent sales agents but has not received any complaints about…
PaymentCloud vs Stripe Payments Differences
Both appeal to business owners seeking online payment options for e-commerce, but there are some fundamental differences in the way the two companies provide merchant services. PaymentCloud serves a wider range of industries than Stripe, particularly in the “high-risk” space. Unlike Stripe, with PaymentCloud you will have a direct phone line to a customer service representative. Stripe relies primarily on email and chat to service customer support issues, which is often a point of frustration with commenters on our Stripe review. Stripe primarily focuses it’s services towards software developers where PaymentCloud focuses on the business owner. In our Stripe and PaymentCloud reviews, we found that both companies are decent choices for businesses requiring e-commerce payment processing services. However, PaymentCloud has a business-owner-first approach with software developer support ready when needed. Business owners can also expect better and personalized customer support with PaymentCloud.
PaymentCloud vs Stripe Merchant Services Costs and Fees
The companies both advertise competitive rates, with Stripe charging a flat per-transaction fee of 2.9% + $0.30, regardless of card type and an additional 1% fee for international payments. PaymentCloud’s rates may vary depending on sales volume and industry and can be much cheaper than Stripes flat rate pricing, especially for businesses processing over $10,000 per month. Stripe has no monthly fees, which can make it a better option for new ventures or low revenue businesses. Both companies offer Interchange-plus pricing, which is the lowest and most transparent pricing option. However, Stripe appears to reserve this pricing for enterprise level businesses processing over $250,000 in credit card transactions per month.
“High-Risk” Industries and Customers
As mentioned previously, one area that PaymentCloud and Stripe differ is how they deal with high-risk business types. Stripe has an extensive list of prohibited business sectors that include speculative financing companies like debt relief, CBD, MLM, adult entertainment, business owners with poor credit, among many more. PaymentCloud is receptive to many high-risk business types, offering additional merchant services geared towards these industries such as chargeback protection and other risk mitigation services. In this category, we find that Stripe would not be a good option for merchants seeking payment gateways for high-risk businesses.
PaymentClound Woocommerce Integration
If you’re a merchant looking to integrate with your existing online and e-commerce store accounts, PaymentCloud is an excellent option. Their API allows seamless integration into many payment platforms such as Google Pay, Apple Pay, and many more. Integrating with Woocommerce requires merchants to abide by their restrictions and guidelines, which means you cannot sell guns or pornography (among other high-risk business types) even if PaymentCloud can serve them.