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Payment Depot vs Square

Payment Depot is a cheap merchant account provider for high-volume businesses. How does it compare to Square? Read our comparison chart below.

Payment Depot offers 4 pricing plans based on business volume. It starts at $49/mo, plus Interchange + $0.15 per transaction, whether swiped or online. Larger monthly processing volumes get larger discounts. There is no contract.

While Square has a low swipe fee of 2.6% + $0.10 per transaction. It has no monthly fees, no contract, and no chargeback fees. Square offers a free swipe reader, feature-rich POS app, free virtual terminal, and free online store.

Compare Payment Depot with Square, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Payment DepotSquare
 Visit SiteVisit Site
 

Payment Depot

Square

SPECIAL OFFER
Save 40% or More - Learn More

Read Payment Depot Review

SPECIAL OFFER
Square Reader: Free Mobile Credit Card Reader - Learn More

Read Square Review

 

Benefits and Features

Customer ServicePhone, Email, Ticket Center, Social Media Platforms (Facebook, Twitter, LinkedIn)Phone, Email, Live Chat Support, Seller Community
Good ForBusinesses processing $20,000 or more per monthMobile & small businesses with average transaction over $100
EquipmentPOS (EMV, Magstripe, NFC, Contactless, Smart Terminals), Mobile Payment Processing, Online Payment ProcessingFree magstripe card reader; $49 for contactless + chip reader; Stand, Terminal, and Register available for purchase.
Pricing Model
Subscription
Flat rate
ACH Payments 
1% ($1 minimum)
Swipe RateInterchange + 15¢ (for processing up to $50,000/mo; discounts for larger volume)
2.6% + 10¢
Online RateInterchange + 15¢ (discounts for larger volume)
2.9% + 30¢
Monthly Fee
  • Starter: $59/month (up to $125,000/yr)
  • Starter Plus: $79/month (up to $250,000/yr)
  • Growth: $99/month (up to $500,000/yr)
No monthly fees
Keyed-in Transaction FeeInterchange + 15¢ (discounts for larger volume)
3.5% + 15¢
Deposit Time
Next day deposits
Payments before 5PM PT / 8 PM ET is available the next business day
Chargeback Fee 
None
 

CreditDonkey® Reviews

 Payment DepotSquare
PriceStarStarStarStarHalf StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
EquipmentStarStarStarStarEmpty StarStarStarStarStarStar
ContractStarStarStarStarStarStarStarStarStarStar
EcommerceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
High Volume BusinessStarStarStarStarStarStarEmpty StarEmpty StarEmpty StarEmpty Star
Low Volume BusinessStarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarStar
Pros & ConsPros:
  • Affordable membership pricing
  • Free equipment with some plans
  • Cancel anytime
Cons:
  • Not ideal for small businesses
  • Equipment return fee
Pros:
  • No monthly or annual fee
  • Free swipe card reader
  • Low, predictable fixed rates
Cons:
  • Flat-rate pricing can be expensive for larger businesses
  • Costly add-on services
Bottom LineCheap merchant account provider for high-volume businesses... Read full reviewGood credit card processor for low-volume businesses... Read full review
 Visit SiteVisit Site

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Payment Depot

Save 40% or More

  • Wholesale Rates
  • Membership Fee Model
  • No Cancellation Fees
Payment Depot

Save Over $400 Per Month on Average

  • No hidden fees
  • No surprises
  • No cancellation fees
Square Reader: Free Mobile Credit Card Reader

Square Reader: Free Mobile Credit Card Reader

  • Pay 2.6% + 10¢ Per Swipe for Visa, Mastercard, Discover, and American Express
  • Accept Credit Cards Anywhere
  • Fast Setup, No Commitments
Square Contactless and Chip Card Reader

Square Contactless and Chip Card Reader

  • Pay 2.6% + 10¢ per tap or dip for Visa, Mastercard, Discover, and American Express
  • Accept Chip Cards and Contactless Payments Anywhere
Square POS: Point of Sale System

Square POS: Point of Sale System

  • Advanced analytics and insights
  • Inventory and customer management
  • Track employee time cards and grant permission levels

Which is Better: Payment Depot or Square?

Still need help deciding which merchant services is better? Read the in-depth reviews below. You may also be interested in comparing Payment Depot or Payline.

In short: Payment Depot's customer service and high volume business are notable. In particular, the high volume business is excellent. Square's equipment and low volume business are impressive.


Articles on Payment Depot

Payment Depot Review

Is Payment Depot the best merchant service provider for your business? See how it compares to credit card processors.

Articles on Square

Square Review

Square has no monthly fees and a low flat transaction rate. But is it safe? Find out if this credit card processor is good for business.

Best Square POS Alternatives

Square is one of the best free POS for small businesses. Before you commit, see how it compares to alternatives like Clover, Shopify, and Lightspeed.

Square vs Stripe vs Paypal

Square, Stripe, and PayPal are the most popular credit card processors for small businesses. What's the difference and which is right for you?

Square vs Clover

Square is cheaper to get started, while Clover offers more flexibility. Which one is better for your small business? Find out how they compare.

Square vs Merchant Account

Square is simple with flat rate pricing, but a merchant account can provide better savings. Which is better for your business? Read on to compare.

How Much Does Square Charge

Square's mobile card reader lets you accept credit card payments. But how much does Square cost? Read this review to see if it is good for your business.

Alternatives to Square

Square is one of the most popular POS systems. But is it the best choice for your business? See how Square compares to top competitors and alternatives.

What is Square

Square offers mobile payment processing and a full POS for businesses. But is it good? Find out if the credit card processor is right for you.

Square Rates

Square offers a free credit card reader. But there are transaction rates and processing fees you need to be aware of.

Square vs PayPal

Is Square or PayPal better for your small business? Find out how they compare in pricing and features.

Stripe vs Square

What's better: Square or Stripe? Depends if you have an online business or physical store. Review fees, payment gateways, and integrations to help you decide.

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a credit card processing comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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