Acquisition by OLB Group
eVance Processing is a merchant account provider offering services as a credit card processor along with e-commerce, mobile phone processing solutions, and a cash discount program. Though initially created as a subsidiary of Excel Corporation, in April 2018 eVance Processing (along with eVance Capital) was acquired by The OLB Group, Inc., a cloud-based business service provider for eCommerce, mCommerce, and brick-and-mortar customers.
In December 2015, Excel Corporation acquired Calpian Commerce under the newly created eVance Processing brand, making Calpian and all of its subsidiary companies the property of eVance. eVance Processing appears to refer to itself as Calpian Commerce in some of its sales copy. Calpian was itself created in 2013 from the assets of the bankrupt Pipeline Data, an Alpharetta, Georgia-based credit card processor. Separately from its Calpian acquisition, Excel Corporation also purchased Securus Payments in 2014 and then in 2015 signed an exclusive preferred marketing agreement between Chyp and eVance Processing. A partial list of companies that have been absorbed into the Calpian and eVance brands includes the following:
Due to the various restructurings that this organization has undergone in the past few years, this list may be subject to change at any given point.
Location and Ownership
eVance Processing is a registered ISO/MSP of Citizens Bank N.A., Providence, RI; Fifth Third Bank, Cincinnati, OH; Merrick Bank, South Jordan, UT; Elavon; and Wells Fargo Bank, N.A., Walnut Creek, California. The company’s website lists its headquarters at 950 North Point Parkway, Suite 400 Alpharetta, Georgia 30022, but it is actually registered in the state of Georgia at 4400 North Point Parkway, Ste. 295, Alpharetta, Georgia, 30022, the old headquarters for both Pipeline Data and Calpian Commerce. As of this update, Ronny Yakov is listed as the CEO of eVance Processing.
eVance Processing Inc. Review Table of Contents
- Costs & Contract: eVance Processing offers a two-year contract through Merrick Bank with a liquidated damages-style early termination fee.
- Complaints & Service: eVance Processing has received more than 20 public complaints.
- BBB Rating: eVance Processing has an “A+” with the Better Business Bureau and has received 8 complaints in the past three years.
- Sales & Marketing: eVance Processing utilizes independent sales partnerships and has received some merchant complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With eVance Processing