EVO Merchant Services Scam
EVO Merchant Services Information
Before you sign with EVO Merchant Services for your credit card processing needs, be sure to read this lens. I am attempting to identify any bait and switch tactics or other issues that small business owners have to face with EVO. If you have any experience with EVO Merchant Services that supports or conflicts with the research please let me know in the comments section at the bottom of the page.
Advice for Small Business Owners
I recommend you check out this website if you are looking for additional information and reviews on merchant service providers. They have a wealth of information and resources, along with comprehensive reviews on many of the top credit card processor
With headquarters in Long Island, New York, EVO Merchant Services (www.goevo.com) processed over sixteen billion dollars in credit card transactions last year. They service small to mid-sized merchants in all industries and offer a full range of electronic payment services. EVO employs over eight hundred people and is positioning itself for future expansion and growth. The company was founded on February 17, 1989 and has been in uninterrupted business for more than twenty years. On the home page of their web site Evo Merchant Services claims to be an innovator and on the cutting edge of technology in the merchant services field. The CEO of Evo Merchant Services is Ray Sidhom. The president is Jeff Rosenblatt. The services offered by Evo include; credit card processing, debit card processing, EBT, gift card, loyalty card, wireless payment acceptance, express pay and other electronic payment solutions.
Questions To Ask
When choosing a merchant account provider it is imperative to make an astute and well-informed decision. Because merchant payment processing is not their main business, banks should be avoided as electronic payment processors. Below is a checklist of questions to ask about potential credit card processors and merchant services providers followed by answers concerning EVO Merchant Services. Let's see how they rate under scrutiny.
What is the company's track record? Are they registered with the Better Business Bureau?
How many complaints have been filed against them and how many have been resolved to the customer's and the BBB's satisfaction?
Evo Merchant Services has numerous locations which gives it numerous BBB reviews. They are graded anywhere from an "A+" at the 515 Broadhollow Road, Melville, NY location (http://www.bbb.org/NYC/business-reviews/point-of-s... to an "F" at the 150 West 30th St, New York, NY location (http://www.bbb.org/new-york-city/Business-Reviews/... The BBB shows seven customer grievances files against this location in the past three years while the Broadhollow Road office has sixty-seven consumer complaints in the same time period. For a company as large as Evo, that is not an inordinate number of complaints. It is an area of concern, however.
What is their customer service reputation?
Most complaints filed against Evo Merchant Services have to do with billing and customer service.
Most complaints filed against Evo Merchant Services have to do with billing and customer service. Evo employs a number of Associate Partners that work as an independent company while relying on Evo's technology infrastructure. While this may be a good business model from a shareholder's standpoint, this type of organization often suffers from a lack of centralized management and poor customer service.
How good is their technical support department? Do they have toll-free, 24 hour help available?
Evo Merchant Services has a full technical support department at (800) CARDSWIPE (2273795). The main website does not give information about technical support. Many of the reseller websites promise 24/7 technical support and 24 hour on site service.
What is their fee structure?
Low and reasonable fees are attractive, but beware of companies that offer excessively low rates. Most often you'll get what you pay for. According to their website, Evo Merchant Services charges competitive rates of transaction fees, startup fees, and maintenance fees. Avoid companies that charge a myriad of fees. Some examples are application fees, set-up fees or annual dues. Evo Merchant Services fees appear to be on par with those of other large electronic processing companies.
Compare equipment prices between companies and avoid leases.
More often than not, a lease is a way to charge you more than the equipment is worth.
Evo does not sell or lease equipment. They use outside vendors that often masquerade as a part of Evo Merchant Services. Quoting from their website, "EVO does not lease equipment and we have no control over leasing contracts with outside organizations. If you are unsure of whom your leasing company is, you can review your checking account statement for the name of the company." (https://www.goevo.com/content/merchant-services/fr...
How much reserve do they require?
Sometimes you'll have to keep a reserve on account to cover any losses due to charge backs.
Evo offers a number of programs depending upon the customer's needs. There is not a definitive answer to this question as every client's circumstance and credit rating is variable. The information is only available through a meeting with an Evo representative or reseller.
Check for monthly caps on your volume.
Once again, Evo offers a number of programs depending upon the customer's needs. Most of these programs will have volume caps. The higher the cap the higher the monthly fee, of course.
Check the contract length and any early termination fees that will apply if you choose to take your business elsewhere.
Equipment leases can vary because Evo uses outside vendors. Service contracts at Evo are for three years and there is a $250 early cancellation fee.
It’s a good idea to use these questions when researching merchant services and credit card processing companies. Don’t be afraid to have the list on hand and ask the sales rep in person or on the phone. Interview a potential merchant service provider as you would interview a prospective employee. Don’t give in to high pressure sales tactics. Insist on meeting with and rating several potential companies and make an informed decision away from the presence of any sales reps. Don’t expect much personalized service and be aware of the possibility that the sales rep may not be an employee of Evo Merchant services. The independent reseller business model removes some control from the company and poor customer service is often the end result.
What was your experience, are there other questions small business owners should be asking before they think about signing up with them?