EVO Payments Review & Alternatives
Meaghan has provided content and guidance for indie retailers as the editor for a number of retail publications and a speaker at trade shows. She is Fit Small Business’s authority on retail and ecommerce.
Anna is a retail expert writer for Fit Small Business with over six years of evaluating dozens of software for small business. She holds a double degree in Accountancy and Financial Management and is currently pursuing further education in financial and payment technology.
This article is part of a larger series on Payments.
EVO Payments is an international merchant services provider offering payment processing in 50 countries and 150 currencies to over 550,000 merchants worldwide. It was founded in 1989 and has transformed, through mergers and partnerships, into one of the largest integrated payment processors in the world. It provides a wide range of solutions—such as credit card processing, omnichannel processing, B2B, mobile, and ecommerce payments.
Like most direct processors, however, it lacks pricing transparency. Additionally, a quick read on its disclosures indicates that it offers a tiered-pricing model and a hefty early termination fee. These top our list of reasons why we do not recommend EVO Payments to small businesses.
What We Like
- Direct processor
- B2B processing
- Supports 150 currencies
What's Missing
- Tiered-pricing method
- Expensive early termination fee
- Non-transparent pricing
- Reserve fund required
- Monthly processing limit
Deciding Factors
- Merchant services offered: Credit card, digital wallets, B2B, ACH, and international payments
- Transaction fees: Undisclosed
- Pricing model: Tiered pricing
- Contract length: Three years with one-year auto renewal
- Early termination fee: $495
- Statement fee: $2.95
- Deposit speed: Three to five business days
See additional pricing, contract, and terms of service details below.
Why We Don’t Recommend EVO Payments for Small Businesses
The downside of working with direct processors is that they are represented by a long list of independent sales organizations (ISOs) that impose their own rates. This is one of the reasons pricing is not entirely advertised by direct processors on their websites. So, while EVO Payments does work directly with small businesses, the rates you will receive will depend on whether you are in contact with an EVO sales representative or a reseller. Either way, the majority of the complaints around this provider is how these representatives tend to avoid fully disclosing fees.
Further, the EVO Payments website mentions tiered-pricing in its disclosures, while its merchant agreement includes stipulations for long-term contracts and an expensive early termination fee. Small businesses are better off with one of our recommended merchant service providers, which offer simple, transparent pricing, pay-as-you-go terms, and zero monthly fees.
EVO Payments Alternatives
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Best for | Brick-and-mortar retailers and small businesses, especially those with low sales | High-volume sales ($20,000+ monthly) | Businesses processing $10,000+ monthly | Cheapest credit card processing |
Monthly fee | $0 | $99–$199 | $59–$99 | $0 |
Card present | 2.6% + 10 cents | Interchange + 8 cents | Interchange + 8 cents | Interchange + 0.1%–0.3%, 5–8 cents |
Card not present | 3.5% + 15 cents | Interchange + 18 cents | Interchange + 18 cents | Interchange + 0.2–0.5%, 10–25 cents |
Ecommerce transaction fee | 2.9% + 30 cents | Interchange + 18 cents | Interchange + 18 cents | Interchange + 0.2–0.5%, 10–25 cents |
For more EVO alternatives, see our list of the cheapest credit card processing companies, best mobile credit card processors, and leading credit card readers.
In the News:
In 2019, shareholders of EVO Payments nationwide filed a class action suit against it over a potential breach of fiduciary duty claim involving its board of directors. And in 2021, Alexander Historical Auctions filed a lawsuit against EVO Payments for breach of contract. EVO Payments has not yet responded to this complaint.
EVO Payments Pricing
The glaring lack of transparency over its fees and pricing structure is a major concern for small businesses intending to sign up directly with EVO Payments. Rates are not advertised on its website, although you can find incidental fees mentioned in its terms of service. You will also find the provider’s brief explanation around tiered-pricing on the disclosure page. Note that terms and fees will change if you sign up with an ISO.
EVO Payments Hardware
EVO Payments offers different hardware solutions based on the type of software:
- Mobile runs on both Android and iOS mobile devices
- Standalone payment terminals are flexible countertop and mobile hardware options
- Semi-integrated terminals allow you to accept payments without storing card data on your POS
While it does not have proprietary hardware, EVO Payments’ mobile hardware of choice are popular brands that can be easily integrated into your payment system.
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(Contact EVO Payments for pricing) | (Contact EVO Payments for pricing) | (Contact EVO Payments for pricing) |
Mobile: Best for small businesses on-the-go | Standalone: Best for mobile payments in-store or curbside | Semi-integrated: Best for improved payment security |
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Note: EVO Payments also supports Dejavoo, Verifone, and Nexgo N5 terminals, which would all require programming to work with the EVO Payments software. Meanwhile, you can download EVO Payments’ mobile payment app for free and process transactions without a card reader; however, transaction rates are often higher compared to when you use a card reader device.
EVO Payments Features
Applying for an EVO Payments merchant account starts by filling out an online form or giving the provider a call on the phone number provided on its website. There’s a different contact number for B2B businesses, which may mean merchants of this type are directed to certain resellers or maybe EVO sales representatives instead.
If you don’t feel like speaking on the phone, you can fill out an online form and a EVO Payments representative will get back to you within 24 hours.
(Source: EVO Payments)
Signing up for a direct merchant account with EVO Payments carries a three-year contract, with a one-year auto renewal clause. Of course, you may receive a different set of terms if you sign up with one of its ISOs. Your business profile will naturally contribute to the terms and conditions and the fees that will be set in your merchant agreement. For mid- and large-sized businesses interested in an EVO Payments merchant account, please take note of the following stipulations in its terms of service:
- You are required to establish a reserve fund and maintain sufficient funds (determined by EVO Payments) for at least two years after termination of contract to satisfy all your fees and obligations with the provider.
- In the event that you exceed your allowed monthly processing volume, EVO Payments can suspend your payment processing privileges, establish (or increase) the allotted value of your reserve account, or decrease your allowed monthly processing volume.
- You are required to issue a written notice 90 calendar days before the end of the current term or 30 days after the start of the new term if you have not signed up for a free POS program.
It’s also important to ensure that you do not sign up for a tiered-pricing plan under any circumstances.
EVO Payments is an ISO of major financial institutions, like Deutsche Bank, that process your payments directly. It allows you to accept all card types and work with almost all POS systems. It also offers a variety of payment solutions—such as ACH, mobile, online, and integrated processing with omnichannel tools—to create a seamless payment processing experience.
There are two payment gateway options available for EVO Payments merchants, and while they offer almost identical tools, the differences are in pricing and compatibility with certain platforms.
EVO VT | PayFabric |
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Third-party gateways such as Authroize.net and Datacap are also available for seamless integration.
Aside from payment gateways that power online processing, EVO Payments offers hosted payment tools to create payment carts, donation pages, and online billing application forms. Snap* Hosted Payments allows you to choose from basic URL redirection, embedded payment pages, social payment widgets, and secure payment links. Customization ranges from simple to highly customized design for streamlining your customers’ checkout experience.
EVO Payments allows you to accept payments across 50 countries and process over 150 currencies. Businesses that sell large, wholesale volumes of goods and services online and overseas may find EVO Payments’ B2B an ideal feature. It offers a number of payment gateway options that support level 2 and 3 transactions and accounts receivable management.
EVO Payments Ease of Use
EVO Payments offers express deposit tools which means you can request for funds to be deposited into your account and have access to it in 30 minutes. You can also customize the frequency of deposits from your EVO Payments dashboard. Note that only certain merchants are qualified to apply for this service.
Like other direct processors that have acquired the best payment security features, EVO Payments also offers the latest tools to protect your customer’s credit card information. It implements security practices such as point-to-point encryption (P2PE), tokenization, and network protection.
EVO Payments provides you with a huge list of software partners and third-party integration—from simple backend management tools to CRM and accounting platforms that work seamlessly with its payment processing software. It also supports in-house integration for mobile processing and hardware. For developers, EVO Snap* Payments is a useful tool for building customized payment solutions.
Customer service for existing merchants is available 24/7 through the following numbers:
- B2B: 888-564-9564 Option 1
- Ecommerce: 888-860-7808
- iPOS: 800-383-0561
- Others: 888-860-7808
While there’s a resource center page, the website lacks a knowledge base to help you manage simple technical issues.
What Users Think of EVO Payments
User reviews are heavily mixed, with UK merchants giving EVO Payments an above average score, while international users are not as pleased. Customer service quality comprises the largest percentage of complaints, but users who like the platform (though not many) commended it for its payment integration options.
- Trustpilot: Only 2 users reviewed EVOPayments, rating it an average of 2.9 out of 5 stars.
- Capterra: Fewer than 10 users reviewed EVO Payments and gave it an average of 1.6 out of 5 stars.
International, including US, users are unanimous with their EVO Payments feedback:
Users Like | Users Don’t Like |
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Payment integration options | Overcharging |
Invoicing software tools | Poor after-sales customer service |
Confusing reports setup |
Bottom Line
No doubt EVO Payments has grown into one of the largest direct processors with a wide range of merchant services features. However, based on our evaluation, we don’t recommend EVO Payments to small businesses mainly because of its inconsistent and undisclosed pricing, long-term contracts, and unfortunate user feedback. Small businesses would be better served with merchant service providers that offer competitive and transparent pricing.
