EVO Payments International Overview:
In business for thirty years, EVO Payments International is a US-based merchant services provider. According to its official website, the company was founded in 1989 as a small ISO and is currently known as one of the US’s largest non-bank merchant account providers.
In addition, it demonstrated impressive growth by acquiring PowerPay in 2012 and a new acquisition, Sterling Payment Technologies, in 2017.
EVO Payments International is also known as EVO Merchant Services and has bought several acquisitions such as Way2Pay, Intelligent Payments Group, Pago Fácil, Diego, and ClearOne.
In 2021, EVO Payments International acquired a significant interest in the National Bank of Greece, which is the most significant partnership of EVO with any of the companies in the world. This partnership has helped boost its business and attract many new merchants.
Location & Ownership of EVO Payments International:
According to the official website of EVO Payments International, there are various head offices of the company throughout the country. While its North American headquarter is located at 515 Broadhollow Road, New York.
The company is a registered ISO/MSP of Wells Fargo Bank, Concord, CA, and the Deutsche Bank Trust Company Americas, New York. Currently, Jim Kelly is the head and CEO of the company.
Payment Processings of EVO Payments International:
The services and payment solutions EVO Payments International provides are based on electronic payment processing services and products. The majority of the processing is done through debit and credit cards.
Besides that, the company boasts of providing its services in more than 150 currencies globally. The marked fields of services of EVO Payments International are gift programs, loyalty programs, EMV sweepers, data reporting and data analyzing, and cross-border payment solutions.
Rates, Contract Terms, and Pricing of EVO Payments International:
Swiped Rate 1.00% – 4.99%
Keyed-in Rate 1.00% – 4.99%
Virtual Terminal Rate 1.00% – 4.99%
Payment Gateway Fee Undisclosed
Early Termination Fee $500
PCI Compliance Fee $120 Per Year
Equipment Lease Terms 48 Month (locked)
As we researched their payment methods and pricing, we learned that their account fees and contract terms are based on several factors; that’s why their prices keep on changing from contract to contract.
The pricing generally depends on the type of business, contract length or duration, or the cost of the agent setting up the merchant account. The services fee and early termination cost also vary with the set-up type of account.
The merchant account fee ranges from $250 to $500, while an annual compliance fee of $120 is applied. The compliance fee keeps on increasing as the account gets upgraded with time.
Virtual Terminal and Payment Gateway Pricing:
EVO Payments International dedicates a portion to advertising Virtual Terminal and Payment Gateway Pricing on its official website. Although the exact pricing of any previously mentioned services is not disclosed, new merchants can get an idea that they have to pay additional transaction rates, batch fees, support fees, and other commerce services rates.
Is EVO Payments International Trustworthy?
An Average Complaint Ratio:
After checking piles of reviews, we find an average ratio of negative reviews and complaints against EVO Payments International. There is a moderate or average number of public complaints, but some accuse the company of a scam or ripoff.
The four types of negative comments we found on the official website of EVO are following:
- Former EVO clients complain of EVO using deceptive market practices
- EVO holding funds and cash reserves
- Poor customer support service and a tough time while using their support services for resolving any merchant account issue
- Complaints regarding deceptive sales tactics
Issues Related to Customer Support Services:
Most of the customers face issues related to customer support service. Clients claim that the EVO support service declines their phone calls, transfers to the wrong stations, and doesn’t respond to emails. They complain that issues are not resolved on time and most of the complaints end up without any conclusion.
EVO Payments International claims itself as the industry’s qualified merchant account and payment solution provider. Although the complaint ratio is moderate, one cannot end up disappointed by their services if he signed up after hoping for the best services.
Besides that, EVO Canada has been a subject of many complaints, which shows that EVO is not a favorable solution for Canadian merchants.
Does BBB Accurately Rate EVO Payments International?
Moderate Complaints Number:
Over 500 complaints have been registered on the EVO profile under BBB. BBB has received 522 complaints against EVO during the last 36 months.
Out of them, 306 complaints were related to billing and payment collection issues, 200 complaints were due to poor products and services. While the remaining 6 were related to delivery issues, and the other 10 were registered because of sales and advertisement-related problems.
Officials claim that 202 complaints out of 522 have been resolved by the company and its customer support service, while the remaining 320 are still in progress or have been dissolved without any final solution.
Product & Service Complaints 200
Billing & Collection Complaints 306
Advertising & Sales Complaints 10
Guarantee & Warranty Complaints 0
Delivery Complaints 6
“C” Rating Overall:
Based on the complaint ratio and services quality, we provide EVO Payments International with an overall “C” rating in the industry.
Is EVO Payments International a Deserving Candidate for Your Business?
Based on the complaint ratio, quality of services and products, and clients’ satisfaction, we rate EVO Payments International as the industry’s average merchant account service provider. We encourage merchants to thoroughly research the payment processing and contract terms of the company before signing up for any deal.
The company is still trying to do its best to provide better merchant account services, but that doesn’t match the quality of the top service providers of the market. However, it is expected that EVO Payments International will improve its rating in the following years if it pays attention to its customer support and on-time payment solutions for the merchants.
Moreover, we advise merchants to avoid equipment leasing as it is the central area of dissatisfaction of the customers with the company.