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EVO Payments Review for 2019: Pricing, Features, Top Alternatives

Matthew Speiser

Staff Writer at Fundera
Matthew is a staff writer at Fundera. He has written extensively about ecommerce, marketing and sales, and payroll and HR solutions, but is particularly knowledgeable about merchant services. Matthew's writing has been published in Business Insider, The Fiscal Times, Best Company, and NJ.com, among others. Matthew was also a co-author for Startup Guide—a series of guidebooks designed to assist entrepreneurs in different cities around the world. He has a degree in journalism from the University of Delaware. Email: matthew.speiser@fundera.com.
Editorial Note: Fundera exists to help you make better business decisions. That’s why we make sure our editorial integrity isn’t influenced by our own business. The opinions, analyses, reviews, or recommendations in this article are those of our editorial team alone.

EVO Payments are a New York-based merchant services provider with a global presence. On their website, they say they operate in 50 different markets around the world, and can process payments in over 130 different currencies. EVO Payments currently maintain divisions in the United States, Canada, Mexico, and a variety of European countries—including England, Ireland, Germany, Spain, Poland, and the Czech Republic.

On the “Mission, Vision and Values” page of their website, EVO Payments say their purpose is to “Exceed the expectations of our customers, colleagues, and shareholders by being the best payments processor around the globe.” 

In this review, we’re going to see if EVO Payments are reaching their goal. To do so, we’ll take a look at all the products and services they offer to small business owners, and the value they can provide. We’ll also compare EVO Payments to some other popular services to see how well they stack up.

EVO Payments: The Basics

EVO Payments provide solutions for almost any business type you could imagine: Retail, ecommerce, restaurants, B2B, hospitality, financial institutions, property management, non-profits, and more.  

When EVO Payments started in 1989 (back then it was called Merchant Services Inc.), they provided merchant accounts and POS systems to US-based customers. Over the next 30 years, they’ve evolved into what they are today: A comprehensive payments solution service. We’ll get into everything EVO Payments can offer merchants in the next section. For now, we’ll just say that whatever your business needs when it comes to payments, it’s more than likely EVO can provide it.

However, we should note that we’re only focusing on the products and services EVO Payments currently provide to US-based merchants. The product and services offered to merchants in different countries vary greatly. So much so, that EVO has dedicated websites for the different countries it operates in (evopayments.us, evopayments.ca, etc.). 

We should also mention that EVO Payments distribute products and services through a large network of third-party ISOs, sales agents, and developers. This means your pricing terms, contract terms, and product offerings could vary greatly depending on the reseller you work with. Generally, we don’t recommend going through resellers for merchant services solutions, as these types of organizations have a spotty track record when it comes to transparency and fairness. Therefore, if it can be helped, go directly through EVO to acquire your products and services. 

EVO Payments Capabilities

As we mentioned, EVO Payments provide a broad range of solutions to US-based merchants. However, if their US website is any indication, they don’t really like to talk about it. The “Merchants” page gives you a general rundown of what they can provide, but doesn’t go into a lot of detail or specifics. This is likely because the services you can receive will vary depending on the reseller you work with.

We’ll do our best to read between the lines and give you as complete a picture as possible of EVO Payments’ products and services:

Payment Processing

EVO Payments are a direct processor, meaning they will provide you with a dedicated merchant account and manage your payment processing. Merchant accounts are provided via either Deutsche Bank Trust Company Americas or Wells Fargo. In terms of applying for your merchant account, EVO aims to make the process as seamless as possible through what they call “On-Time Approval.” With On-Time Approval, EVO evaluates applicants in real-time via an online portal, making it possible to receive same-day acceptance.

Once onboard, EVO Payments will allow you to process magstripe, EMV (chip card), and NFC (digital wallet) payment methods, as well as ecommerce transactions (more on that later). As previously mentioned, EVO Payments can also accept payment in over 130 different currencies, and convert them at no additional charge. Credit card types accepted include Accept Visa, MasterCard, American Express, Discover, Diners Club International, EBT, and debit cards. Other accepted payment methods include echecks and ACH transfers

Point of Sale (POS)

EVO Payments do not sell any proprietary POS hardware, but does partner with major providers in the industry. On the EVO Payments Canada website, they say you can acquire a variety of different types of credit card terminals from leading brands like Dejavoo, Verifone, and Ingenico. You can also process mobile payments via the iProcess app for iPhone. 

On the US website, EVO says they “lead the industry with the latest EMV countertop terminals, tablet-based POS systems, and web-enabled mobile solutions,” but doesn’t go into any detail about this claim. What we gather is that you can use EVO Payments with a variety of different kinds of POS terminals and software. If you want more info, however, you’ll probably have to talk to a sales representative.

Payment Gateway

EVO Payments offer a payment gateway called EVO EPay—allowing you to accept payments online. This payment gateway integrates with most major ecommerce platforms and also has useful features like recurring billing, fraud protection, and electronic invoicing. Note that you can also use EVO Payments with a variety of third-party payment gateways.

Developer Tools

Perhaps the most information-rich section of the EVO Payments US website is the one on EVO’s developer tools. And when we say developer tools, we really mean EVO Snap* (the asterisk is part of the name). EVO Snap* provides payment APIs and toolkits that make it possible to integrate EVO Payments into a broad array of third-party apps, POS systems, shopping carts, and other software. 

Marketing Tools

EVO’s description of their marketing services is brief. According to the website, EVO Marketing allows you to “connect consumer data with payment and marketing services to create and enhance customized loyalty programs, card-linked offers, and real-time rewards at the point-of-sale.”

There is also a service that allows you to create branded gift cards and process them via your EVO Payments merchant account.

Reporting

Another area without a lot of specific info is EVO’s reporting tools. On the website, it says EVO provides their merchants with a web portal where they can “easily track sales and customer spending patterns, measure marketing effectiveness, process returns and voids, and a lot more.”

Merchant Cash Advances

EVO Payments say they can provide merchants with short-term capital in as little as 24 hours. Merchants would repay EVO Payments with a percentage of their sales each month.

Security

EVO says it provides merchants with data protection and fraud-fighting tools. On the website, it says “EVO’s sophisticated fraud-fighting tools reduce the time, cost, and complexity of PCI compliance.”

evo payments

Customer Service

For US-based merchants, EVO Payments offer 24/7 technical support by phone. There is also a blog and documentation on how to use the developer tools. 

EVO Payments Price

EVO Payments provide no pricing information on their US website. Instead, your price is quote-based and something that you will work out with your individual reseller. We can say that they offer multi-year contracts with early termination fees. However, you can avoid this fee if you provide a 60-day notice before leaving. 

EVO Payments Pros

Knowing what we now know, here are what we see as the benefits of working with EVO Payments.

International Processing

If your business operates outside of the US, or if you are an ecommerce merchant, EVO Payments make it easy for you to process a broad range of currencies. Furthermore, EVO can provide merchant accounts in 50 different markets around the world, meaning you won’t have to find a new merchant acquirer if and when you begin operating abroad.

Variety

While EVO Payments fail to provide a lot of information on their products and services, we will say that they do offer quite a lot. That’s the benefit of working with a large merchant acquirer—they have typically scaled to the point where they can be an end-to-end solution for their merchants. Any business that works with EVO Payments will have the flexibility to pick and choose the products they need to create a truly bespoke payments service. And because EVO operates around the world, they can be a reliable partner as your business scales.

EVO Payments Cons

There are some areas of concern with EVO Payments. We’ll list them here.

Transparency

Even for a merchant services provider, EVO’s website is sorely lacking in information. In an industry that is already rife with transparency issues, that is a red flag for us. There are already enough merchant services providers out there that don’t offer specific pricing information and rely on third-party resellers. But on top of all that, EVO also doesn’t give a sufficient amount of information on the products they offer. It may be difficult to trust a vendor that gives you so little to work with.

Customer Service

A repeated complaint in EVO Payments customer reviews was their customer service—or lack thereof. Customers report either receiving poor support or being ignored by the customer service team entirely. 

evo credit card processing

EVO Payments Reviews

Here is how EVO Payments rank on major customer review websites:

Take both the TrustPilot and Capterra ratings with a grain of salt, as they were both based on a single review. It is, however, informative to look at the BBB profile. The A+ rating is reassuring, but there have also been 176 customer complaints filed against EVO, which is a very high number. Furthermore, the average customer rating of EVO Payments on BBB is one star out of five. In reviews, customers complain of deceptive business practices, arbitrary account freezes and terminations, and hidden fees. The word “scam” was mentioned more than once in customer reviews, and there were no positive reviews to speak of.

EVO Payments Alternatives

Not feeling too hot about EVO Payments? Here are some alternatives to consider.

Square

There are a lot of differences between Square and EVO. For example, Square is a payment service provider, meaning you get an aggregated merchant account with a built-in gateway. Square also offers a transparent processing rate of 2.75% for in-person transactions and 2.9% + $0.30 for online transactions (on all credit card types). Furthermore, with Square, you get free add-ons like POS software and a mobile magstripe reader. Perhaps most importantly, the Square website is loaded with information on all its products and services, including pricing details. 

CDGCommerce

If you’d prefer a dedicated merchant account, we’d recommend CDGCommerce. This merchant acquirer offers a subscription model where you’ll pay $10 for your account and only pay 1.70% + $0.25 for in-person payments and 1.95% + $0.30 for online payments. CDG also supplies a free payment gateway and virtual terminal, and is compatible with several credit card terminals, as well as the Harbortouch POS system

Is EVO Payments Right for Your Business

Based on research and customer reviews, we wouldn’t recommend using EVO Payments as your payment service provider. The lack of information they are willing to provide about their products and services combined with the numerous customer complaints we found make us feel that this payment service provider does not have their merchants’ best interests at heart. There are other reputable payment solutions on the market that we’d encourage you to consider first. 

Square for Small Businesses: The Ultimate Guide

Matthew Speiser

Staff Writer at Fundera
Matthew is a staff writer at Fundera. He has written extensively about ecommerce, marketing and sales, and payroll and HR solutions, but is particularly knowledgeable about merchant services. Matthew's writing has been published in Business Insider, The Fiscal Times, Best Company, and NJ.com, among others. Matthew was also a co-author for Startup Guide—a series of guidebooks designed to assist entrepreneurs in different cities around the world. He has a degree in journalism from the University of Delaware. Email: matthew.speiser@fundera.com.

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