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Nuvei Credit Card Processing 2023: Reviews & Complaints
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Created in October 2018 as a rebranding of Pivotal Payments, Nuvei is a large merchant account provider that claims to serve more than 50,000 merchants and process more than $15 billion in credit card transactions annually.
Before we dive in, here’s a short summary of what we’ll cover:
- Nuvei’s various payment processing services.
- Nuvei has received numerous complaints, which have increased in recent years.
- Nuvei’s contract appears to contain a number of undesirable features, including heavy fees.
Nuvei Acquisitions & Partnerships
In late 2021, Nuvei acquired Mazooma, a bank-to-bank transfer service, and Simplex, a crypto payment firm. They also integrated with Flow in order to provide NFT purchasing and stablecoin processing and partnered with FTX, the notorious cryptocurrency exchange and hedge fund by Sam Bankman-Fried that went bankrupt and has been accused of defrauding its million-plus users. These moves were made prior to an IPO by the company, marking them for a major expansion in reach in the market.
In 2023, Nuvei completed the acquisition of Paya Holdings Inc., an Atlanta-based payment processing company, for $1.3 billion. The acquisition aimed to expand Nuvei’s portfolio and reach in the payment technology sector. However, there has been a lawsuit over the purchase, as described below. The company also partnered with Esenda in 2023 to create a payment platform for tuition.
Nuvei’s Payment Processing Services
Nuvie provides credit card and debit card processing for small businesses. They process payments in 150+ currencies and they offer services including EMV card swipers, POS terminals, integration with many alternate payment options (like ApplePay and PayPal), e-commerce solutions including shopping carts and virtual terminals, wireless solutions, mobile payments, data reporting and analytics, crypto readiness, and an extensive network of partnerships. They also claim to offer industry-specific expertise, especially in gaming (eSports) and travel. Nuvei also expanded into Latin American processing in 2021.
Tech Stack Compatibility
Nuvei emphasizes the flexibility of its services, allowing businesses to integrate only the features they need without disrupting their existing tech stack. The company offers various platforms and integrations to suit different business needs.
Payment Performance Optimization
Nuvei focuses on increasing approval rates and reducing operational costs through innovative payment performance optimization techniques. They offer global pay-ins and payouts, as well as omnichannel and omniplatform support.
The company provides scalable, reliable, modular, and flexible platforms for payment orchestration. They offer personalized integrations to meet the specific needs of businesses.
Nuvei offers 24/7 human-led support, providing guidance for even the most complex payment stacks. They emphasize collaboration over automated support systems.
Nuvei also offers features like fraud risk management, data analytics, and enhanced authorizations. They aim to provide a comprehensive payment solution for businesses.
Location & Ownership
Nuvei’s rebranding appears to have brought about a change in location. The company lists its Canadian address as 1100 René-Lévesque Blvd O #900, Montreal, Quebec H3B 4N4, Canada, and its U.S. address as 1375 N Scottsdale Rd Ste 400, Scottsdale, AZ 85257. Nuvei Technologies Inc. is a registered ISO of BMO Harris Bank, N.A, Chicago, IL; a registered ISO of Esquire Bank, Jericho, NY; a registered ISO of Fresno First Bank, Fresno, CA; a registered ISO of MVB Bank, Fairmont, WV; a registered ISO of Wells Fargo Bank, N.A, Concord, CA; a registered ISO of U.S. Bank National Association and Elavon; and a registered ISO of Wells Fargo Bank, N.A., Canadian Branch. Philip Fayer is the CEO of Nuvei in a continuation of his role at Pivotal Payments.
Table of Contents
Nuvei Customer Reviews
Here's What Their Clients Say
|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 client feedback under the name Pivotal Payments to be applicable to this review. There are a moderate-to-high number of negative Nuvei reviews filed online, including over 170 in the comment section of our Pivotal Payments review. The content of the Nuvei reviews is fairly consistent, with numerous clients reporting poor customer service, problems with accounts, processing errors, terminal problems, difficulty canceling service, unexpected costs, and high cancellation fees. If you have your own Nuvei review to make, please do so in the comments below.
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. Business owners 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.
Nuvei Lawsuits and Fines
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 businesses could file a claim has expired, although the settlement will not be paid out until every attempt at appeal has been exhausted.
In 2019, a lawsuit was initiated against Nuvei by Breeders’ Cup (a non-profit equestrianism organization) alleging that Nuvei (then operating as Pivotal Payments) had breached their Sponsorship Agreement. Pivotal Payments terminated the Sponsorship Agreement due to its inability to process patron tickets at a Breeders’ Cup event held at Churchill Downs in Louisville, Kentucky. Breeders’ Cup informed Pivotal Payments the venue had an exclusive contract with a different payments processor, so Pivotal Payments should not expect to enter into a merchant agreement with Churchill Downs. This led to Pivotal Payments then terminating the agreement with Breeders’ Cup, which the latter company alleges was a breach of contract, unjust enrichment, and breach of the implied covenant of good faith and fair dealing. A resolution is yet to be made.
A class action lawsuit was filed against Nuvei, claiming civil and statutory damages pursuant to the Securities Act and the Civil Code of Quebec. This lawsuit involves persons and entities who acquired Nuvei’s securities between September 17, 2020, to December 7, 2021.
Nuvei Corp is facing a lawsuit for allegedly refusing to pay shareholders of Paya Holdings Inc. after acquiring the Atlanta-based payment processing company. The lawsuit claims that Nuvei agreed to pay $9.75 per share for Paya shares but did not follow through after the merger was completed on February 22. The suit, filed in the U.S. District Court for the District of Delaware, seeks compensatory and consequential damages from Nuvei for alleged violations of the merger agreement and Delaware law.
Nuvei Customer Support Options
Although Nuvei states that it has improved its customer service and addressed some areas of client 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 Customer Service Numbers
- (877) 772-3346 – Toll-Free General Customer Service
- +57 601 916 1523 – Latin America
- (866) 687-3722 – Canadian Support
- (855) 264-1775 – Digital Payments Gateway Support (NA)
- +44 20 3051 3031 ext. 1 – Digital Payments Gateway Support (Rest of World)
Other Support Options
- Support form
- Live chat
Nuvei Online Ratings
Here's How They Rate Online
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 awards Nuvei an “A+” rating and has accredited them since 2021. The company’s profile is currently showing 24 complaints in the last 36 months.
What Merchants Say
Nuvei has also received 17 informal reviews to its new BBB profile. The most recent review is negative and describes issues with missing money and poor customer service:
I cant even begin to tell you what a crock of s***! this company is! they gave my incorrect banking information to AMEX who havent payed me for 6 months! AND NO ONE WILL HELP ME CORRECT THIS! I cant do it myself because I need to give them the old banking information before thy will update to the new! and i dont have that info – some person with IQ of the average 4 year old at NUVEI has that info and is apparently not willing to part with it! And being charged $x a month for being non PCI compliant is total BS! Plus another $x for an incomplete scan! Their customer service is totally s***! AND someone needs to tell them that their “on hold” music actually induces suicidal feelings! Hours of my life I’ll never get back! They actually should be hung drawn and quartered – and I think I’m being quite fair in my review! STAY AWAY!!!
Great customer service is a hallmark of a top-ranked merchant account. Readers should review their options for companies that offer superior customer service to avoid issues like this review chronicles.
A “C” Performance Overall
Considering Nuvei’s former complaint total and resolution ratio, we have adjusted the BBB’s rating to a “C.”
Nuvei Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%|
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 business’ 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 business owner can pay thousands for that same equipment making them 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 businesses 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 to advertising 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 is not disclosed on either of those services. 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 businesses processing up to $25,000 per month and $495 for merchants processing over $25,000 per month.
Nuvei Standard Contract
Nuvei’s standard contract appears to include a three-year service agreement with an automatic renewal for one year, but a few clients have reported agreements up to five years. A PCI compliance fee of $139.80 has also been reported on behalf of businesses 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 business owners fully understand the pricing and terms of their Nuvei merchant account agreement before signing. We also encourage businesses to check out our list of the providers of the best merchant accounts.
Nuvei Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|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 on the rates and fees that agents set during the activation of the merchant account and equipment lease. Many clients report that agents misrepresent their pricing, terms and conditions, and lease agreements to persuade the business 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. This does not compare favorably to our list of best credit card processors.
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 client, 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 client 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.
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