Overview
Specializing in Hard-To-Place Business Types
Headquartered in Woodland Hills, California, PaymentCloud (paymentcloudinc.com) 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.” In addition, there is some 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 providers tend to work with multiple acquirers. PaymentCloud’s headquarters are located at 6303 Owensmouth Ave. Woodland Hills, California 91367. The executive vice president and managing partner of PaymentCloud is Shawn Silver, the former vice president of high risk at iPayment.
PaymentCloud Review Table of Contents
- Sales & Marketing: PaymentCloud appears to hire independent sales agents but has not received any complaints about its sales practices.
- Costs & Contract: PaymentCloud offers a contract of variable length that may or may not include an early termination fee.
- 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.
- Rates & Fees: How Merchants Got The Best Rates With PaymentCloud
Contact PaymentCloud
Phone: (888) 506-7859
Website: PaymentCloud.com
Address: 6303 Owensmouth Ave. Woodland Hills, California 91367
PaymentCloud Bottom Line
A Great Option for High Risk
PaymentCloud rates as a reliable merchant services provider according to our rating criteria. The company has not received any public negative feedback from merchants and deserves consideration from any high risk business, especially those that wish to integrate their account with QuickBooks.
For more information on the company, see the PaymentCloud website or call (888) 506-7859.
About Phillip Parker
Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.
Schedule a Consultation with Phillip
Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.
Great merchant processing company! My business is in the high risk category, I had to provide a few extra details about my business as well as make some adjustments to my website, however I had a great account representative that walked me through the entire process and got me approved for a merchant account. The vaolume limit on my account is slightly lower than I asked for however that’s to be expected for any start up business in the high risk category. I am very happy with the, comparably, excellent processing rates, and the really nice virtual terminal they set me up with.
Highly recommend company!
Thank you
Adam Amaro
We used them for several months in 2017, after their staff said they would give us rates better than our current processor. Big mistake switching. We ended up going from 3% to paying over 6.5% on an average month. Additionally, although they said they would let us out of the contract if we were not happy with their service, they wouldn’t. ETF cost us over $1,500 to get out of that contact. However, by moving to another company we saved enough in 6 months to cover their screwing us. Highly recommend you stay away from them. Please contact me to verify this as I have it documented and would be happy to provide the evidence and the salesman’s name. Jim. [email protected]
From The Editor
This Post Might Help: Best High Risk Merchant Account Providers
Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.
I came across Payment Cloud through various attempts at getting merchant accounts. I have been working with Faviola Paz and she has constantly exceeded my expectations.
She is extremely quick with her work and doesn’t like to waste any time, something that is greatly valued. Aside from that she’s just a great person to deal with. Couldn’t be happier with the fact that I came across Payment Cloud and Faviola. Within 24 hours she had me applied for a merchant account and approved that same week. Outstanding! I’m very pleased, thank you for everything.
Hi Bijan,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Payment cloud made it very easy from start to finish, very happy with the service. I highly recommend payment cloud.
Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.
I had some problems getting a merchant account because I was erroneously placed on the MATCH/TMS List and it took a month for them to realize their mistake and remove me from that list. But I had contacted Payment Cloud in that time and the person associated with my account, Neal, was extremely supportive and kind to me during that whole process.
Even though (at the time) I was not putting an application in with them, he offered to give me support and advice during that time about how to proceed and how to find out how to get off that List.
When it was time for me finally get a merchant account, I obviously had many options, but I didn’t consider them because Neal had actually treated me like a person and genuinely wanted to help me when I needed it.
I trust him and Payment Cloud completely to give me the best advice possible and support me again should anything not go as smoothly as planned.
Hi Jordan,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Not currently offering accounts to credit repair start-ups.
Hi,
Just to clarify the sponsoring bank where we were boarding all of our credit repair accounts tightened up their credit policy, therefore not accepting any new credit repair accounts. We have since found another bank and are going back and forth with legal to wrap up agreements, we are being told that it is at the tail end and we should have that solution back up and running shortly.
It should be worth mentioning that we do have an existing solution for credit repair merchants that have a minimum of 3 months clean processing under their belt.
Thanks guys!
Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.
They are in connection with EMS which had a D rating and have over 50 complaints of the company freezing their account and keeping the money. Stay away!
Alana,
PaymentCloud is a payment company that is currently sub registered with Chesapeake Bank, Esquire Bank, & Harris Bank to name a few. We utilize different acquiring solutions that each specialize in “hard to place” high risk SIC codes. These different acquiring solutions are a great fit for almost all card-not-present (CNP) businesses that consist of future delivery, high ticket size, restricted business types, and difficult guarantor credit. Most of these banks have similar underwriting requirements and procedures in terms of how they analyze an account on a risk basis. However, with that said Electronic Merchant Systems (EMS) does conduct first batch release audits and site inspections to mitigate their risk. If these conditions are not met, then probable cause to terminate a merchant relationship could be executed. PaymentCloud is always more then willing to help and assist with any risk/security questions or concerns as they pertain to each and every banking relationship we have in place. Please feel free to email me directly and I can look into your particular case and hopefully offer a solution.