Pros & Cons
- Specializes in high risk industries and merchants
- Provided free, expanded set up assistance
- 24/7 Customer service
- Extensive selection of hardware available
- No pricing for packages or hardware on the website
- Lacking explanatory videos and social media interaction
- Name of partners undisclosed on website
Plans & Pricing
Payment Cloud does not disclose any pricing plans or fees tiers on their website. This is likely because of the diverse range of clientele they service. This includes merchants who might have had their accounts restricted or even cancelled. When the risk levels of a client are high, the prices and overall credit card processing plans will probably be more expensive or less favorable from the contract aspect. There are many variables including; fee rates, terms, length of contract etc. All of these will differ depending on several factors such as the type of merchant, their financial history and corresponding risk of the industry.
Payment Cloud is a California based credit card processing firm. The company, founded in 2016, has over 70 employees. While other firms shy away from high risk clients, Payment Cloud actively courts them and tries to customize a plan for each one. This can be a tricky proposition as they open themselves to businesses which often have more instances of fraud and chargebacks. Nonetheless, Payment Cloud prides itself on being able to get the overwhelming majority of approved and they will go the extra mile to make sure of that.
Features and Functionality
Dedicated Account Manager
High risk merchants often need a bit more guidance when it comes to credit card processing. First of all because of their businesses can be more prone to fraud and chargeback but also in the initial set up stage when some financial institutions might be wary of working with them. For this reason, Payment Cloud provides clients with a dedicated account manager who will become familiar with their circumstances and handle their specific needs instead of being bounced around between the various customer service professionals.
ACH processing allows merchants to process echecks and direct debt payments from an ecommerce site. This service can prove crucial for higher risk merchants as they might run into limitations on their credit card processing authorizations.
Assistance with PCI Compliance
PCI compliancy is very important when dealing with credit card processing. Merchants have 90 days to complete this process once they open their account and Payment Cloud will help guide them to do so, free of charge.
Payment Cloud does not mention any specific hardware requirements. They are compatible or will provide clients with a choice from an extensive catalog of EMV compliant terminals, POS systems or mobile/wireless terminals. There is no information on their site how much they charge for these devices.
Integrations & Add-ons
Payment Cloud is confident that they can deal with any integration needs a client may have. They have a long list of virtual terminals, accounting tools, CRMs & shopping carts they are compatible with integrate with. This includes:
Virtual Terminals – Authorize.net (which they recommend), Cybersource, NMI, USAPay, Braintree
Accounting Tools – Quickbooks, FreshBooks, Quicken
CRMs – Salesforce, Zoho, Hubspot
Shopping Carts – Opencart, 3D Cart, Shopify and many more
Ease of Use
Payment Cloud will help merchants with the set up process which might be a lengthy one, especially if you’re high risk. This might require extra attention to credit history, type of business, previous financial statements etc. Despite the potential obstacles, Payment Cloud claims to have a 98% acceptance rate.
Payment Cloud has a responsive 24/7 customer support over via phone (toll free number). On their website they even shows the number of available representatives at any given time and the wait time.
24/7 Help & SupportAvailable via phone (toll free number) displaying number of available representatives at any given time with waiting time
Phone SupportToll free number 24/7 available on website
FAQFrequently Asked Questions can be found on Payment Cloud's website
The credit card processing industry is a crowded field. Some providers look to differentiate themselves with low rates while others with better packages for high or low volume merchants. Payment Cloud’s expertise is dealing with high risk industries and businesses which might have trouble getting a merchant service provider elsewhere. This has its advantages and disadvantages. To start off with, it’s the primary reason that you will not find pricing or contract terms on their website. They need to go the extra mile to analyze each potential client and match them with a financial institution under the right terms to build a win-win scenario. This does not mean that Payment Cloud doesn’t deal with low risk industries. Not at all. But without some hard data on their offerings it’s hard to compare them with others. The best bet it to call and get a quote but make sure that you understand the nuances of the pricing schedule, possible limitations and check for additional charges which you might incur.