EMoney Review

EMoney Overview

EMoney is a registered service mark of Elavon, a wholly owned subsidiary of U.S. Bank and one of the largest payment processors globally. EMoney was established in 2016 as a branded payment solution offering merchants an end-to-end encrypted platform for processing transactions. The company is headquartered at Elavon’s offices at 2 Concourse Parkway, Suite 800, Atlanta, Georgia 30328.

As a service mark of Elavon, EMoney operates under Elavon’s merchant acquiring infrastructure but markets itself as a distinct product suite with its own branding, website, and feature set. Jamie Walker has served as CEO of Elavon, overseeing all of its branded services including EMoney. EMoney’s operations, pricing, and contract terms are ultimately governed by Elavon’s policies and agreements.

EMoney Payment Solutions

EMoney offers a comprehensive suite of payment products designed to serve merchants at every point of sale. According to our review, the company’s product line includes:

Payment Processing: EMoney provides credit and debit card processing services through Elavon’s payment infrastructure. The platform supports both card-present and card-not-present transactions and offers a flat-rate pricing model.

Point-of-Sale Systems: The company offers a PCI-compliant front-end point-of-sale and payment application that supports in-store transactions. The system is designed as a host-based solution with end-to-end encryption.

E-Commerce Solutions: EMoney provides e-commerce payment processing capabilities for online merchants, including electronic funds transfer services.

Digital Wallet Services: The platform includes digital wallet functionality for mobile payments and contactless transactions.

Gift Card Program: EMoney offers both physical and virtual gift card solutions through its consumer engagement platform, allowing merchants to send eGiftCards directly to customers via email or mobile phone.

Financial Reporting: A middle-tier reporting and analytics platform provides merchants with comprehensive financial data and insights into their transaction activity.

Dozens of Complaints

We have been able to locate more than 50 negative reviews about EMoney online. A handful of reviews accuse the company of fraud or being a scam.  The Google Play Store ranks the company’s mobile payments app 2.2 out of 5 based on 53 reviews, 25 of which give the company a 1 out of 5. The iTunes store gives the company a 1.7 out of 5 based on 87 reviews, 60 or so of which are negative.

EMoney Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against EMoney. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. However, in 2012, Elavon was sued by one of its merchants, a restaurant named Cisero’s, for PCI compliance fines. The problem started when U.S. Bank (Elavon’s parent company) was fined $90,000 by Visa and MasterCard, who alleged that Cisero’s had not secured its network and experienced a data breach that resulted in fraudulent transactions on a few of its customers’ cards. In reaction, U.S. Bank debited Cisero’s checking account of $10,000 without notice and then filed a lawsuit against Cisero’s owners to obtain the remaining $80,000, stating that their merchant account contract makes them responsible for such fines.

EMoney Customer Support Options

EMoney’s website states that it offers 24/7 support phone line, yet it doesn’t disclose a phone number on its website. The only method for contacting the company is an automated form hosted on the website. It is likely that the company relies upon Elavon’s customer support channels. The lack of clear support options precludes EMoney from being a top-rated merchant account provider for customer service.

A “C” Over All

The tenor of the company’s complaints, especially those accusing the company of being a scam, is a cause for concern. Additionally, the lack of clear, comprehensive customer support channels other than 24/7 phone support is the basis for the company getting a “C” rating in this category.

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

Over 120 Complaints

Given EMoney’s standing as a service mark of Elavon, this review will contemplate the record reflected by Elavon’s Better Business Bureau profile. As of this update, the Better Business Bureau is awarding Elavon an “A+” rating despite the fact that the company has received 124 complaints in the last 36 months. Elavon has been accredited by the BBB since 2009 Of the total complaints, 41 are due to billing and collection issues, 70 to problems regarding products and services, 12 to advertising and sales issues, and 1 is related to delivery problems. 34 of these complaints have been resolved by the company while the remaining 90 were resolved to the dissatisfaction of the merchant.

What Merchants Say

Elavon has also received 10 informal reviews, all but 1 which are negative in tone. A recent review from a merchant details being assessed an expensive early termination fee:

I have been with NOVA which became ELAVON. I have had minor problems in the past 30 years but this summer was the worst. I am a seasonal business and called in May to have my machine turned on June 1st. It was and I ran a charge and then batched out. All seemed OK. I continued to run customer cards until July 1st when I noticed that they were not being deposited in my account. They WERE being charged to the customer. Upon calling on July 1 I was told that who ever turned on the machine should not have. The account had been on seasonal too long and I needed a new merchant number. So…they did that but didn’t reprogram the machine. Customer charges kept going to the old account and I got no money. They forced me to buy a new machine even though I had one given to me just like the one they wanted me to buy for 591.00. They reprogrammed that and sent me the information to run the credit cards again manually. (RED FLAG!!) I did what they suggested and all but 1 charge went through. They sent that money, new merchant ID, to my bank. GUESS WHAT? They charged my customers AGAIN and I was only paid once. So… if I refund the money to the customers I will be at a zero balance for the equipment I sold. Having spent HOURS on the phone since July 1st I just got off the phone with customer service rep #29. That’s the number of different people I have talked to. He said he would “research this”. He will not refund the cost of the new terminal and I ran my business all summer paying bills out of my personal account. I at a loss. I can’t close my account without getting my money. As you can see it has been 3 MONTHS. If I could take the loss I would but I just can’t let them win….. STAY AWAY FROM THEM!!! RUN !!!!!!!!!!! One star because you can’t leave zero.

Taking steps to cancel an account without paying a fee can aid merchants from avoiding situations like the one described above.

A “C” Performance Overall

We have adjusted the BBB’s rating to a “C” for the purposes of this review based on how our criteria would have scored Elavon.

Contract Terms Will Vary

Given EMoney’s status as a service mark of Elavon’s, it is likely that the company’s pricing mirrors that of its parent company. However, EMoney states on its website that it offers merchants a flat processing fee, as opposed to the two pricing models Evalon offers. Elavon’s pricing options are bifurcated between counter-top point-of-sale terminal and the other for its mobile alternative. Both contracts charge a swipe rate of 2.65% + $0.19 or a keyed-in rate of 3.50% + $0.19 per transaction. It is unclear how either of those transaction rates compares to EMoney’s flat rate

Elavon also includes a convoluted early termination fee which its contract lists as “greater of the total fees paid by Customer during the twelve months immediately prior to termination, or the total fees that would be payable by Customer during the twelve months immediately following termination.”

Long-Term Equipment Leases From Ladco

Though EMoney’s pricing structure may vary from Elavon’s, it is likely than the company leases payment processing terminals to merchants through Ladco Global Leasing. The standard Ladco contract is an expensive, non-cancellable 48-month equipment lease that often costs up to ten times the actual price of the equipment. Elavon seems to go to great lengths to conceal the relationship between Ladco and itself, probably due to the fact that there are very few positive reviews of Ladco to be found online. EMoney takes this same precaution.

No Known Lawsuits Against EMoney

We have not found any outstanding class-action lawsuits or FTC complaints filed specifically against EMoney. As a service mark of Elavon, any significant legal actions would likely be directed at the parent company rather than the EMoney brand itself. Merchants who believe they have been the victim of unfair business practices by EMoney should consider reporting their experience to the relevant regulatory authorities.

Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider filing a complaint with the Better Business Bureau or the Consumer Financial Protection Bureau (CFPB).

EMoney Sales Tactics

EMoney does not appear to hire independently contracted sales agents to market its services. This is a common hiring practice within the credit card processing industry that often results in a sales team composed of poorly trained or unregulated agents. The company choosing not to employ this tactic is a positive reflection on its sales practices.

No Misleading Quotes

To its credit, EMoney does not appear to list deceptive rate quotes in its official materials. However, the company does not provide any insight into its its flat transaction rate.  Given the lack of insight the company offers into its pricing structure and acquiring bank, we award it an average grade of a “C” in this category.

If you suspect that EMoney is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Our EMoney Review Summary

EMoney operates as a service mark of Elavon, one of the largest payment processors in the world and a wholly owned subsidiary of U.S. Bank. While the backing of a major financial institution provides a degree of stability and security, the EMoney brand itself suffers from a lack of pricing transparency and a significant volume of negative customer feedback inherited from its parent company.

The company’s flat-rate pricing model may appeal to some merchants, but the limited information available about specific rates and fees makes it difficult to evaluate whether EMoney offers competitive value. The large number of complaints against Elavon, many of which relate to billing issues and poor customer service, is a concern that prospective merchants should weigh carefully.

We recommend that merchants considering EMoney request a complete written breakdown of all fees, contract terms, and cancellation policies before signing any agreement. Given the volume of complaints associated with Elavon’s services, merchants may also wish to compare EMoney’s offerings against other processors that provide greater pricing transparency. For these reasons, we assign EMoney a rating consistent with the concerns outlined in this review.