EVO Payments Review
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EVO Payments is a merchant services provider with a global presence. It’s geared for worldwide commerce, facilitating business transactions in over 50 countries and over 150 currencies. In addition to payment acceptance, the company offers a host of merchant services including POS systems, marketing services and merchant funding.
But the company doesn’t offer any transparent product or pricing information, making it difficult not only to estimate your costs but also to know if you’re getting a good deal from its services. Several negative customer reviews also complain of steep cancellation fees, held payments and hidden charges. For these reasons, EVO is not a strong option for most small businesses.
Varies depending on business type, size and more. Pricing information is only available through direct contact with a sales agent. High early contract termination fees reported by reviewers.
Varies. Some contracts have 36-month terms, according to the company.
24/7 customer service through EVO, though support may vary depending on the operational partner. Phone numbers are available on the website for both new and existing customers.
Ease of use
Difficult to determine due to lack of transparency and wide range of different product partners.
EVO Payments doesn’t provide any concrete pricing information on its website. It also distributes products and services through a large network of third-party independent sales organizations, sales agents and developers, which means pricing terms, contract terms and product offerings could vary greatly depending on the reseller you work with.
If you apply for an account through EVO, a sales representative will price its services based on the specifics of your business and the particular products you need. If you work with a reseller, the pricing you receive will be up to the discretion of that company.
Quotes are generally based on the size of your business, your sales volume and your industry, as well as the specific products and services you need. These costs might include software costs, hardware costs and the cost of credit card processing. There are also fees, such as PCI compliance fees and cancellation fees.
Variety of services
Although EVO Payments fails to provide a lot of information on its products and services, it does seem to offer a lot of options for businesses. This is typically one of the benefits of working with a large merchant acquirer; it has usually scaled to the point where it can be an end-to-end solution for its merchants.
Because the company operates around the world, it can be a reliable partner as your business scales.
If your business operates outside of the U.S., or if you are an e-commerce merchant, EVO Payments makes it easier for you to process a broad range of currencies. Furthermore, the company can provide merchant accounts in 50 different markets around the world, meaning you won’t have to find a new merchant account provider if you begin operating abroad.
Lack of information and transparency
Even for a merchant service provider, EVO’s website is lacking in information about pricing and contract details. Because of its heavy reliance on third-party resellers, contract terms can vary widely.
Negative customer reviews
Despite having an A- rating from the Better Business Bureau, EVO Payments’ customer rating on the site is 1.1 out of 5 stars. The company has had a total of over 260 complaints in the past three years on the BBB website. Other online reviews available about EVO Payments are also generally negative.
Although there are some more positive reviews discussing the service in the U.K., U.S. business owners have a number of complaints about the service they received from the company.
More specifically, these negative reviews typically focus on:
Steep cancellation fees and difficult cancellation process.
Hidden or unclear fees.
Unhelpful customer service.
In addition, multiple class-action lawsuits have been filed against both EVO Payments International and EVO Merchant Services alleging that the company overbills merchants and does not disclose its actual pricing.
Square is a payment service provider and NerdWallet's current choice for best overall POS system. The platform provides you an aggregated merchant account with a built-in gateway, and offers a transparent processing rate of 2.6% plus 10 cents for in-person transactions and 2.9% plus 30 cents for online transactions (on all credit card types).
Unlike EVO Payments, Square is free to use, and there are no long-term contracts. It also offers free add-ons like POS software and a mobile magstripe reader. Perhaps most importantly, the Square website is full of information on all its products and services, including pricing details.
If you’d prefer a dedicated merchant account, look into CDGcommerce. This merchant acquirer offers a pricing model based on your transaction volume. If you process under $10,000 in monthly volume, you’ll only have to pay for the price of credit card processing: 2.75% plus 30 cents per transaction for in-person payments and 2.90% plus 30 cents per transaction for online payments.
There are no monthly fees, annual fees or other extraneous fees. Plus, CDGcommerce includes a free payment gateway, free mobile application and compatibility with a handful of POS systems.
A version of this article was first published on Fundera, a subsidiary of NerdWallet.