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.
PaymentCloud Payment Processing
PaymentCloud processes most major debit and credit cards for all business types and offers a large number of options in processing. These include EMV terminals, POS solutions, wireless payments, e-commerce gateways and shopping carts, mail and phone orders, and check processing. They use the paysley mobile system and specifically boast integration with major e-commerce software solutions.
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. 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.
Acquisition of Paysley
In October 2020, PaymentCloud acquired the majority shares for contactless technology startup paysley. Paysley utilizes custom QR codes and markets itself as an easy payment solution for fundraising, donations, recurring rent payments, and businesses utilizing text message payment requests.
PaymentCloud Review Table of Contents
- Costs & Contract: PaymentCloud offers a contract of variable length that does 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.
PaymentCloud vs Stripe
While both services appeal to merchants with a high need for online payments, there are some fundamental differences in the way the two companies operate. Particularly, PaymentCloud is a wide-ISO with more access to customer service and support. You’re more likely to have a direct line to a customer service representative when using one of PaymentCloud’s different high risk merchant accounts. Stripe often functions more as a payment aggregator for different marketplaces like Etsy, and their software suite supports integrations with most APIs and storefronts. In our Stripe and PaymentCloud reviews, we found that both companies are decent choices for most merchants requiring e-commerce solutions and payment processing services.
PaymentCloud vs Stripe Costs
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 advertises very similar rates; however, these rates are subject to change depending on sales volume, industry type, and other factors. There’s also a possibility you will face an additional charge of $25 per month to utilize the Authorize.net gateway through PaymentCloud. Stripe also offers some interchange-plus pricing options, something that PaymentCloud lacks.
PaymentCloud Serves “High-Risk” Industries
One area that PaymentCloud and Stripe differ is how they deal with high-risk business types. Stripe has an extensive list of prohibited business types that include speculative financing companies like debt relief, CBD, MLM, adult industries, or businesses with poor credit. PaymentCloud is receptive to many high-risk business types, offering additional services geared towards these industries like increased charge-back protection and more. In this category, we find that Stripe would not be a good option for merchants seeking payment gateways for high-risk businesses.
Stripe and PaymentClound Woocommerce Integration
If you’re a merchant looking to integrate with your existing online store accounts, Stripe and PaymentCloud are both excellent options. The APIs both allow seamless integration into many payment platforms such as Google Pay, Apple Pay, and many more. Stripe offers a specialized plugin for Woocommerce integration, making that process even simpler for merchants. PaymentCloud boasts easy integration with 99% of existing payment gateways; however, it might require a slightly more technical setup. 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 Stripe or PaymentCloud allow it. This is more in line with Stripe’s list of approved businesses and makes integration a slightly smoother process.