PaymentCloud

 
Small and large businesses alike will be happy to know that they have another solid payment processing solution with PaymentCloud. Whether businesses are small and just beginning or have already been on the road to success for some time but are now looking for a new merchant account processor, this may be a smart option for consideration and comparison as well.
 

Businesses Served

 
PaymentCloud makes a point of focusing on high-risk businesses that may have had trouble in the past obtaining payment processing services from other companies. In particular, they can service online dating, adult merchandise, tobacco, payday loan and similarly risky businesses along with traditional non high risk merchants. Even merchants that have had their processing accounts terminated or restricted by another company may be able to qualify here.

Of course, this company does not provide the financing or processing themselves. Instead, they partner with a variety of banks, such as Merrick and BMO Harris, that are also willing to work with high-risk clients. Prices, contracts, account types and terms will vary based on the type of business being served and the designated risk of that business.
 

Pricing and Costs

 
While merchants labeled high-risk can expect to pay more than their low-risk competitors will for payment processing, they should not be forced to live with exorbitant fees that hinder them from making good profits. Thankfully, PaymentCloud provides generally reasonable prices although customers will not be able to find exact pricing listed on the website. Rates are tiered based on the risk of the business being served. In addition, there is no application fee or setup fee charged during account startup.

Merchants should keep in mind that they may have extra fees if they choose to lease their processing terminals and other physical equipment from the company. However, merchants are not required to do this, and they may choose to purchase their own sets. Pricing will also depend on the payment types offered, but it may include extra fees to be able to accept eChecks or mobile payments or to offer virtual and physical credit card terminals.
 

Contracts

 
Account setup is advertised as being quite simple with free setup and fast approval rates. Once the account is set up, the contract will vary depending on which third-party financial institution is backing the account. Most contracts are for three years, which is standard across the industry. Automatic renewal is standard, and month-to-month contracts are hard to come by as is the case across much of the high-risk payment processing industry. Merchants should keep in mind that they may need to pay a fee of several hundred dollars if they choose to terminate early.
 

Customer Service

 
Of course, no payment processing company could succeed long term without excellent customer service. With this company, each merchant is assigned to a personal company representative who will provide the majority of the customer service. This makes it easy to get quick service because the representative will already know the details of the account.
 

Customer Feedback

 
It can be difficult to find a PaymentCloud review on major websites. However, individual merchant reviews found on smaller sites are overwhelmingly positive. Although the company serves mainly high-risk merchants, a fact that would usually indicate a fair number of negative reviews to be found, there is a surprising lack of this, and instead, any reviews tend toward positive feedback.

When it is difficult to find a merchant payment processor even after shopping around, PaymentCloud may be the right choice. It offers numerous services for all types of businesses, including those that have had trouble finding service elsewhere. Thankfully, this company does not take advantage of high-risk businesses by gouging them with egregious fees. Instead, they offer competitive rates and have improved many of their services thanks to direct feedback from clients. As a whole, they are easy to work with and are the smart choice especially for high-risk merchants.