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Payment cloud reviews; Features, Pricing, Review, and Comparisons

Dera Joseph | Jan 13, 2022 | Advertiser Disclosure

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Choosing the best credit card processing solution means comparing diverse processors against one another and then the needs of your business. If your business is a high-risk business, then it means you have a unique set of challenges. One such processor you may come across is PaymentCloud. PaymentCloud began in 2015 as a very small merchant service company with the vision to cater to brands that other merchant service providers may reject. In October 2020, Payment cloud acquired majority shares for Paysley contactless technology thereby bringing a new dimension to it’s payment processing capabilities. With the acquisition, businesses can now utilize custom QR codes, handle recurring rent payments, text message payment requests, fundraising, and donations among others.

In this post, we will assess diverse payment cloud reviews alongside the features and solutions offered by this merchant service provider to help you choose the best processing company for your needs. In this guide we will look at payment cloud pricing, fees and rates, alongside the many benefits and drawbacks of using this payment processing solution.

What Is PaymentCloud?

PaymentCloud is a US-based 3rd-party payment processor that offers payment processing solutions to mail order/telephone order (MOTO), e-commerce and generally high-risk businesses. High risk businesses are businesses that do not conform to the usual standards set by banks.

This means that these businesses may be involved in selling tobacco, CBD and hemp, online vape and e-cig businesses, fire-arms and ammunition, adult, credit repair, dropshipping, workout and nutritional supplements, hunting and outdoor equipment.

Your business can also be considered ‘high-risk’ if your credit score is low even when your industry isn’t considered high risk.  Other reasons your business can also be regarded as slightly higher risk is if a huge number of transactions you accept involve card-not-present. This is because of the higher chances of card fraud and is the main reason why a good number of e-Commerce and MOTO transactions have higher processing rates than card-present transactions.

Sadily, there are many merchant service providers ready to take advantage of the many vulnerabilities of these industries to lock them into stringent contracts with high rates and fees. This is where Payment Cloud stands out. With Payment Cloud, you can enjoy a more realistic set-up. Even so, Payment Cloud can be used by lower-risk businesses alongside brick-and-mortar establishments.

So we can say that Paymentcloud provides virtual terminals, point-of-sale systems, chargeback prevention tools, and lots more to both mid and high-risk businesses efficiently.

What Businesses Can Use Paymentcloud?

payment cloud reviews

Payment cloud can be used by both low-risk and high-risk merchants. But it’s a better choice for high-risk merchants. This category includes

  • Brick-and mortar businesses, small businesses and mid-sized businesses selling particular items
  • Brick-and-mortar businesses, small businesses and mid-sized businesses with higher card-not-present transactions
  • E-commerce business,
  • and subscription-style brands.

Some of these high risk industries can be broken down into adult websites, credit card repair businesses, dropshipping, CBD and hemp brands, online vape and e-cig businesses, fire-arms and ammunition, workout and nutritional supplements, hunting and outdoor equipment, debt consolidators among others. Don’t forget that the high-risk industry is always shifting. So what’s not covered today might be covered in future.  Therefore, you should always consult with Payment Cloud to find out if they now offer payment processing to your industry.

A Snapshot Of Our Paymentcloud Reviews

A careful look at the features, positive reviews and negative reviews about Payment cloud reveals that they do care about the businesses they provide services to. This is because Payment cloud emphasizes on offering a ‘white glove’ customer service to their merchants regardless of the industry or business size. So no matter the size of your account, you will have a dedicated account manager.

You will also love that you will enjoy a full suite of ACH, e-check, credit card processing and fraud tools for almost every business type. Again, it’s vital for businesses to realize that like many other payment processors, payment cloud services is not a direct processor. This means they also work with credit card associations (e.g acquiring banks) alongside merchant service providers. Again as a high-risk processor, they will work with multiple acquiring banks and provide solutions based on your risk profile.

Payment cloud pricing is actually quote based and varies from business to another. So there is no advertisement by the company on their fees and rates. That said, payment cloud pricing appears decent since there are no complaints or negative reviews about their rates and fees. It’s also worthy to note that Payment cloud’s reliability is also augmented by the fact that Stripe refers many of its declined (high-risk) clients directly to PaymentCloud.

Payment Cloud Reviews; Pros and Cons

Pros

  • PaymentCloud is an excellent option for any business that cannot find another merchant service provider willing to offer decent rates regardless of the amount of risks they carry. If you have been turned down by other merchant account providers, paymentcloud is a great choice.
  • Paymentcloud also offers a superb phone and email customer service with professionals to help whenever you need them
  • Your application, and set-up will be handled free of charge. So with Paymentcloud you can fill up their online application, view the possible price you will pay without actually becoming obligated to take the next steps.
  • Payment cloud does not require any cancellation fees and will not lock you into any long-term contract.
  • Approval rate is a very decent for a high risk payment processor. However, do realize that if your risk level is overly high, there’s a decent chance approval might take several weeks.
  • Payment Cloud also offers next-day payments which is fantastic.

Cons

  • Perhaps the biggest downside is the lack of transparency with the price you pay for using this credit card processing solution. You have to reach out to the company, provide information about your business to receive details on pricing. Sure payment cloud isn’t the only quote-based company, but there have been many payment processors taking advantage and offering unfavorable pricing. That said, the payment cloud is very outspoken about ensuring that only the best and decent rates are offered.
  • Does accept international businesses but may not provide all the features and solutions you need with it’s integrations. If you are an international business, you might consider contacting your payment gateways first.
  • You might have some difficulty finding your way around the Payment cloud website because their setup is a bit confusing.

Payment Cloud Pricing

PaymentCloud offers wholesale rates but they don’t offer a pre-determined pricing list for businesses which can be both a plus and a negative. This means your rates will be tailored to your business needs as they vary greatly from one business to the next depending on your risk level.

However, you won’t pay any set-up or startup fees, application fees or cancellation fees. Beyond that there are no merchant complaints about the fees and rates that Payment Cloud services charges. So you can expect decent fees. So overall, your payment cloud pricing will depend on your processing history, chargeback rate, risk profile, and sales volume. Don’t also forget that it is common for high-risk businesses to pay more higher-per transaction fees than standard-risk merchants.

Concerning termination fees,  Payment Cloud claims to never have early termination fees. But like we would always advise with every payment processor, read every fine print. Some really high-risk merchants may still incur long-term contracts.

What Merchant Account Features and Services Does PaymentCloud Provide?

Payment cloud is known for their wide suite of hardware and software solutions for diverse businesses. Businesses can access retail POS systems, Europay, MasterCard and Visa (EMV) terminals, mobile and wireless terminals, virtual terminals, near field communication (NFC) terminals among others. You can choose between a wireless terminal that works with your smartphone or a full POS system that comes with a cash drawer. Let’s talk about these systems in detail.

Core Services by Payment Cloud

Paymentcloud merchant account

Like every 3rd-payment processor, Paymentcloud works with acquiring banks. However, unlike others like Payment depot, you won’t have a comprehensive list of these acquiring banks they work with. This is actually normal for high-risk credit card processors as they work with multiple acquirers and  will open your merchant account with the best acquiring bank  (or banks) matching your risk profile.

Nevertheless, some of paymentcloud partners include Esquire Bank, Merrick Bank, Chesapeake Bank, BMO Harris Bank, Global Payments, EVO Payments, Elavon, Electronic Merchant Services etc.

Customized application

Besides helping you set up your merchant account, Payment Cloud also assists you every step of the way to increase your chances of account approval with their acquiring banks. So they will provide insights for your website, social media presence, the components of your application, your financial statements and lots more. They will help you look for red flags and guide you towards making the best chances or providing supporting documents to improve your situation.

PCI Compliance Guidance

Data Migration

Personalized Deployment

PaymentCloud Software Selections

payment cloud e-commerce review

PaymentCloud gateway

E-commerce businesses would love that Payment cloud offers both payment gateways and an online virtual terminal.  According to Payment Cloud, the company depends on Authorize.Net as it’s primary payment gateway. You will love that Authorize.Net gateway also offers a developer toolbox and open API if you ever need to customize your website’s integration.

A second option you can use is USAePay. However, Paymentcloud also supports almost every other gateway provider so you won’t have to change your current gateway. Setting up this gateway is actually free with PaymentCloud, but you will be charged a monthly subscription fee by the gateway provider itself. You can expect typical rates and fees for using the Authorize.Net gateway to be about 2.90% plus $0.30, gateway fee of $25 per month and batch fee of about $0.10.

PaymentCloud virtual terminal

Paymentcloud virtual terminal allows you to process payments, process refunds, send receipts, enter ACH transactions, schedule recurring payments, pull transaction data, batch-process files and run reports. It is quite suitable for both e-commerce brands and mail order and telephone order (MOTO) merchants. Virtual terminals may also be used in processing card-present transactions. But to do this, you need a USB-connected card reader.

Contactless payments

Through PaymentCloud’s partnership with Paysley, you can now offer contactless payment services to your customer. This means you will send your customers a QR code which they will use to pay online by either entering their card information or using their Samsung Pay or Apple Pay accounts. This way, they don’t have to go through any extra inconvenience of downloading an app or registering for their service.

e-Check & ACH processing

ACH processing functions for direct debit payment methods via your website.  Paymentcloud allows you set for e-check and ACH but this would be less frequent than for cards. For extremely high risk merchants, you may not be allowed to do so, but can still use echeck acceptance.

Payment Cloud Hardware

Payment cloud does not come with the restrictions of proprietary software. This means you can have any hardware reprogrammed to work with their system.

Credit card terminals

Paymentcloud offers one free terminal per merchant account without any direct charges for using it. However, this credit card terminal is actually a loan. So you can use it as long as you maintain your account. If you should choose to close your account, you have to ship it back immediately to avoid being charged the full cost of that machine. Overall, Paymentcloud provides access to the following terminals:

  • Standard units like Ingenico iPP 310 models, Ingenico iCT 220, Ingenico iCT 250, and Verifone VX 520. These credit card machines support NFC-based and EMV based (e.g Google Pay and Apple Pay) payments.
  • You can also choose wireless models for accepting contactless payments which includes Verifone VX 680, Ingenico iWL 250, and Ingenico iWL 255.

POS systems

Paymentcloud also offers access to diverse POS systems although on the website you may only find a couple of MaXXPay systems advertised. The regular approach is to show a selection of POS options and help you choose the best one for your needs. As expected, you won’t be shown systems that will not fit your needs. In the end, you will have a processor that fits your selected POS system. Also you can choose to use a full-sized POS terminal or tablet-based system. Both will support EMV payments.

Mobile hardware

You can also access bluetooth and audio jack readers that work with Android and iOS and will process contactless and EMV payments. However, this equippment and the payment app depends on your back-end processor. There is a little information on this from Payment Cloud but your sales representative can help out. You can also choose between a free mobile reader and a full credit card terminal for your account.

Payment cloud equipment leases

Payment Cloud no longer offers equipment leases which might have been included in your standard merchant account paperwork. Usually equipment leases may include non-cancellable agreements up to 4 years, which is something we never recommend. We always advise that you purchase your equipment outrightly.

Paymentcloud integration

Besides offering a decent payment processing system, you will love that PaymentCloud integrates with diverse software systems. At its core, PaymentCloud can work with any management system that allows third-party apps and open APIs. So if you sell on Wix, OpenCart, Shopify, BigCommerce, and other e-commerce sites, you can work seamlessly with paymentcloud.

Paymentcloud also integrates with online shopping carts such as 3dcard, PrestaShop and lots more. Payment Cloud especially boasts of integrating with over 99% of existing payment gateways even as there might be a more technical setup with some of those gateways.

Nevertheless, we recommend contacting the solutions you wish to integrate to ensure that they will be sufficiently supported. Regardless, as long as your desired system integrates with PaymentCloud, they can help you with the deployment process.

Other features

Payment Cloud also provides a robust chargeback/fraud prevention system and assistance with PCI compliance. This can help you reduce the risks associated with your business

Payment Cloud Customer Service

Payment Cloud Customer Service is one of the finest. The company is ready to walk every new customer through setting up their merchant account among other critical details beyond their payment processing set up. You will also love that Payment Cloud provides phone number and email customer support where you can reach out for your concerns and questions. Concerning payment cloud phone support, you can access their support professionals Monday to Friday from 7am to 6pm PT.

Email is an excellent option for solving problems with the company’s virtual terminal services.

You can also access their knowledge base, FAQs and forums for more information. Furthermore, Payment Cloud services offers diverse blogs and guides that are easy-to-read and will usher you into the world of payment processing.

When you also sign up to use this processor via their website https://paymentcloudinc.com/, you can access tailored documentations to help maximize the benefits of using payment cloud.

Comparisons To Other Credit Card Payment Processors

Payment Cloud vs Stripe

Both Payment Cloud and Stripe can cater to businesses that wish to accept payments online including subscription-style online merchants. Both also process cryptocurrencies. However, PaymentCloud infrastructure also includes businesses that Stripe considers prohibited with a wider net. PaymentCloud also offers more robust customer service support with a direct line to a dedicated customer service representative. In contrast, Stripe functions as a payment aggregator for different marketplaces such as Etsy. But, both integrate with diverse software solutions.

Stripe also offers a flat transaction based fee structure which does not really change depending on your card type and circumstances surrounding payments. However, Payment Cloud is more tailored to your business sales volume, industry type, risk profile among others. Do also realize that Stripe has been known for referring all of it’s declined clients to Payment Cloud.

Payment Cloud vs Square

Square offers a flat-rate pricing system which means your rates won’t change no matter your business type. Payment Cloud services provide tailored quote-based systems. Nevertheless, Square is more perfect for any business just starting out whereas high-risk brands will benefit more from paymentcloud. Both also offer similar features except for multiple payment options which is more comprehensively covered by Square payments.

Payment Cloud Complaints, Positive and Negative Reviews

Paymentcloud google reviews currently ranks over 4.6 out of 5.0 stars for high-quality, superb responsiveness and decent rates. On Trustpilot, the company also has a 4.2 rating.

They are also very responsive to the few negative reviews found and do a decent job of helping solve any arising issues. Their customer service is highly communicative. However, as with every payment processing company, the level of risk your business carries may delay your approval process.

This isn’t usually an issue with the payment processor but their bank credit card associations. Some other negative reviews found are usually attributed to having not read the company’s policies. Some customers also complained about their accounts being put on hold which is a common situation when dealing in the high-risk industry. Banks may sometimes detect large volumes of transactions which trigger an audit. That said, it’s a better alternative to other payment processors for low-risk businesses that would definitely close that merchant account without providing any room for audits.  Nevertheless, Payment Cloud does not have a BBB (BetterBusiness Bureau) rating at the time.

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Frequently asked questions about Paymentcloud

Is PaymentCloud free?

PaymentCloud offers a free online application which gives you the opportunity to compare, see your options and make the best choice. Plus, Payment Cloud will not charge for account or gateway setup. These unique advantages  are  why Payment Cloud stands out from the crowd.

How does PaymentCloud work?

Payment Cloud acts as a 3rd-party processor and will help you set up your merchant account (with an acquiring bank) and streamline your payment operations. Through Payment cloud you can access diverse hardware, and software systems such as virtual terminals, POS systems, credit card machines and lots more. Some services you can enjoy on Payment Cloud includes POS transaction management, card authentication, recurring payments etc.

Who owns PaymentCloud?

Payment Cloud’s current CEO is Shawn Silver. Shawn Silver is the former vice president of iPayment.  Payment Cloud is also headquartered at 16501 Ventura Blvd Ste, 300 Encino Ca 91436.

Does Payment Cloud Integrate with QuickBooks?

PaymentCloud is especially fantastic because it integrates with QuickBooks. So if you are a high-risk business seeking this integration, you will love this feature.

Who are the typical users of Payment Cloud?

E-commerce businesses that offer products and services that are considered high risks by traditional banks come under the Payment cloud umbrella. So if you sell vapes, e-cigs, firearms, workout supplements, subscription boxes and lots more, this is an excellent choice. PaymentCloud is an excellent choice for adult merchant accounts, gun merchant accounts, nutraceutical merchant accounts and lots more.

What languages does PaymentCloud support?

PaymentCloud currently supports only Spanish and English on their website.

The Verdict; Should You Use Paymentcloud?

Our Payment Cloud reviews evidently shows that Payment Cloud is a reliable quote-based credit card payment processing solution. Payment Cloud also aims to beat its competitors, so you can quickly reach out to them to get a free cost comparison at no extra charges. This ensures you fully understand what you are getting from day one.

Beyond that, Payment CLoud is superb about helping you handle the headaches of setting up your payment processing solution. They will even help you clean up your website and online platforms to increase the chances of approval and ensure that you are set up for success from the onset.

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