Formerly Known As “Pivotal Payments”
Created in October 2018 as a rebranding of Pivotal Payments, Nuvei is a large merchant account provider that provides credit card processing for all standard-risk business types. The company claims to serve more than 50,000 merchants and process more than $15 billion in credit card transactions annually.
Nuvei Location and Ownership
Nuvei’s rebranding appears to have brought about a change in location. Nuvei is a registered ISO of Wells Fargo Bank, N.A., Concord, CA and a registered ISO/SP of Westamerica Bank, Santa Rosa, CA and a registered ISO of Esquire Bank, Jericho, NY. The company lists its Canadian address as 1100 René-Lévesque Blvd W, Montreal, Quebec H3B 4N4, Canada, and its U.S. address as 5000 Legacy Dr #320, Plano, Texas. Philip Fayer is the CEO of Nuvei in a continuation of his role at Pivotal Payments.
Nuvei Review Table of Contents
- Costs & Contract: Nuvei offers variable contract terms that may include an early termination fee of up to $495.
- Complaints & Service: Nuvei has received more than 300 public complaints.
- BBB Rating: Nuvei currently has an “A+” rating and has received 40 complaints and 13 reviews in the last 3 years. The company has been accredited by the Better Business Bureau since 2015.
- Sales & Marketing: Nuvei hires independent sales agents and has received many complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Nuvei.
Types of Businesses Served
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Nuvei Rates, Fees, and Costs
|Swiped Rate||1.00% - 4.99%|
|Keyed-In Rate||1.00% - 4.99%|
|Virtual Terminal Rate||1.00% - 4.99%|
|Payment Gateway Fee||Undisclosed|
|Chargeback Fee||Up to $35|
|Early Termination Fee||$395 to $495|
|PCI Compliance Fee||$139.80 Per Year|
|Equipment Lease Terms||48 Month (locked)|
Variable Contract Terms
Nuvei’s pricing may vary greatly based upon several factors including the agent, franchise, sub-ISO, or partner setting up the account, and by a merchant’s processing volume and business type. Additionally, the company’s sales agents are known to lease equipment either directly or through First Data Global Leasing at varying costs. It should be noted that most credit card terminals can be purchased for under $500. Non-cancellable, long term leases mean a merchant can pay thousands for that same equipment making them an a contract term to avoid.
A company representative has stated that Nuvei has started to focus on offering free equipment and equipment rental programs to reduce the number of lease contracts it sells, but it is still possible for merchants to receive a long-term lease from a Nuvei rep.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Nuvei also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. The company provides standard e-commerce payment processing services, as well as accepting ACH, Apple Pay, and Google Pay online. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Nuvei Early Termination Fee
Nuvei previously enforced a liquidated damages early termination fee in its standard contract. As of this update, however, a company representative has informed us that the company’s standard early termination fee is now a flat $395 fee for merchants processing up to $25,000 per month and $495 for merchants processing over $25,000 per month.
Nuvei Standard Contract
Nuvei’s standard contract (available below) appears to include a three-year service agreement with an automatic renewal for one year, but a few merchants have reported agreements up to five years. A PCI compliance fee of $139.80 has also been reported on behald of merchants under contract with the company. Other fees include a chargeback fee of up to $35 per incident, and a monthly fee of $25.
A company representative has stated that Nuvei does offer month-to-month contracts, but that these are up to agent discretion. As noted above, several reviews state that Nuvei agents often also market 48-month, non-cancellable equipment leases that can cost thousands or even tens of thousands of dollars over the life of the lease. These default terms are not remotely competitive with the cheapest merchant accounts available.
It is strongly advised that merchants fully understand the pricing and terms of their Nuvei merchant account agreement before signing.Are you happy with your Nuvei fees? Tell us about them before your go!
Nuvei Complaints & Customer Reviews
|Total Online Complaints||300+|
|Live Customer Support||Yes|
|Most Common Complaint||Cancellation Fees|
Over 300 Nuvei Complaints
Nuvei’s recent rebranding appears to be more of a symbolic marketing shift than a radical reorganization of the company. We therefore consider the company’s merchant feedback under the name Pivotal Payments to be applicable to this review. There are a moderate-to-high number of Nuvei negative reviews filed online, including over 160 in the comment section of our Pivotal Payments review. The content of the complaints is fairly consistent, with numerous merchants reporting poor customer service, problems with accounts, processing errors, terminal problems, difficulty cancelling service, unexpected costs, and high cancellation fees.
Nuvei on Ripoff Report
It should also be noted that Pivotal Payments appears to have paid Ripoff Report to join that site’s Corporate Advocacy program, which allows Pivotal to replace the titles of negative reviews with bogus promotional blurbs that are all identical. Merchants should note that the full complaints can still be found beneath the lengthy promotional material that has been added to each review. It is our view that this approach demonstrates less of a commitment to customer service than if the company had simply provided professional rebuttals to merchant complaints. It is unclear at this time whether Nuvei intends to pursue this same strategy under its new name.
In October 2018, a judge granted final approval to a $9 million class-action settlement from Pivotal Payments related to an alleged violation of the Telephone Consumer Protection Act. According to the plaintiffs, “Pivotal violated the Telephone Consumer Protection Act (“TCPA”) when Gordon Rose and/or EPLJ made telemarketing calls to cell phones through the use of an automatic telephone dialing system or an artificial or prerecorded voice,” even though Pivotal “did not have the recipients’ permission to make these calls.” The period during which affected merchants could file a claim has expired, although the settlement will not be paid out until every attempt at appeal has been exhausted.
Nuvei Customer Support Options
Although Nuvei states that it has improved its customer service and addressed some areas of merchant dissatisfaction, we have seen little evidence to support improving its rating as of this update. Nuvei offers 24/7 technical support by phone as well as customer service by phone from 8:00 a.m. to 7:00 p.m. EST, Monday through Friday.
Nuvei BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||21|
|Billing & Collection Complaints||13|
|Advertising & Sales Complaints||6|
|Guarantee & Warranty Complaints||0|
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.
Suddenly Clean Complaint Record
The Better Business Bureau is awarding Nuvei an “A+” rating despite 0 complaints registered in the last 36 months. At the time of our last review, Nuvei had a total of 46 complaints. The BBB has also accredited the company since 2015. Of the 46 total complaints, 21 are regarding problems with products and services, 13 with billing and collection, and 6 with advertising and sales. Nuvei has resolved 7 of the complaints, while the remaining 33 were answered but did not receive a final response from the merchant.
What Merchants Say
Nuvei has also received 13 informal reviews to its BBB profile, 8 of which were positive in tone and 5 of which were negative. The most recent negative review describes high prices and hidden fees:
I have used Pivotal Payments (now Nuvei Technologies) for a few years and they have been good up until last November when I had a family come in on the same day and make 2 transactions (dad paid in the morning and them mom paid in the afternoon not knowing that dad had paid). As soon as the mistake was figured out her transaction was voided before a batch was made. Here comes the headache. Her money was taken out of her account and never put back when the transaction was voided. We did everything we could with this company to get her money back and all we were told was that they did not have it and the transaction never happened. When I called tech support I was told to never void a transaction, but to got to menu and follow the steps to refund it. By the way if you are not supposed to void a transaction why is the Void button put on the main screen and the Refund hidden down inside 3 different menus?? After all of this transpired the mom disputed her transaction and her bank disputed the wrong card, they did her husbands instead of hers. Our account was deleted by the amount for a charge back. When she realized her mistake, she had the bank return that money and dispute the right card. Again our account was deleted for the amount. Here lies the problem! The first charge back was taken out The money that was returned never got into our account The second charge back was taken out It has now cost me 3 times the amount it should have for one transaction. The company has been no help what so ever and there famous last words, “there is no record of that transaction” Avoid this company at all costs. They are no longer customer friendly, their customer service reps are no help, and in the last few months their hidden fees have added on an extra $200.00 to our monthly costs. On top of all that we had to pay a “penalty” for dropping their services. Lesson Learned.
Merchant accounts can include many contract terms to avoid. This makes thoroughly reviewing a contract essential to finding the right merchant account provider for your businesses budget and needs.
A “C” Performance Overall
Considering Nuvei’s current complaint total and resolution ratio, we have adjusted the BBB’s rating to a “C.”
Truth In Marketing & Advertising
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Outside Sales Agents
Nuvei does not appear to use any deceptive advertising or rate quoting in its official materials, but the company has suffered considerable damage to its reputation due to its marketing strategy.
The company relies very heavily on outside independent sales agents, sub-ISOs, telemarketing, franchises, and strategic partnerships to sell its services. It is likely that Nuvei pays varying commissions based upon the rates and fees that agents set during the activation of the merchant account and equipment lease. Many merchants report that agents misrepresented their pricing, terms and conditions, and lease agreements to persuade them to accept an account. Nuvei’s internal policies appear to be doing a poor job of regulating its resellers’ marketing practices, as evidenced by its recent class-action settlement.
Efforts to Improve
A representative of Nuvei stated in an email to us that the company has implemented a “sales compliance” position so that all sales channels meet the company’s “internal standards,” but did not elaborate on the policies that define the standards. He also stated that Nuvei will buy back an equipment lease if the company cannot provide service to the merchant, or if there was a sales misrepresentation issue. As of this update, we have seen some evidence to indicate that Nuvei’s efforts have resulted in reduced merchant complaints regarding sales and marketing tactics, which has improved its rating in this section to a “C.” If you suspect that the company is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.
About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services
I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.
From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.