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Payvision Review: Fees, Comparisons, Complaints, & Lawsuits
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Note: Acquirer ING announced in late 2021 that they would be shutting down Payvision. As of 2022, the Payvision website is now empty except for a note explaining that Payvision will be closed by Q2 2022, which means April 2022. As the company seems to be no longer opening new accounts and is no longer providing any information on its website, we will no longer be updating this profile.
International Payment Processing
Payvision is a merchant account provider that specializes in processing international payments for e-commerce businesses. Founded in the Netherlands in 2002, Payvision has since grown to the point that it now maintains offices in Utah, Toronto, New York, London, Berlin, Paris, Madrid, Tokyo, Hong Kong, Macau, Singapore, and Auckland. In January 2018, ING Group purchased a majority share of Payvision, but Payvision appears to remain an independent brand at this time.
Payvision Location & Ownership
Payvision Review Table of Contents
- Costs & Contract: Payvision appears to offer variable contract terms depending on the countries in which it is operating.
- Complaints & Service: Payvision has received fewer than 10 public complaints.
- BBB Rating: The Better Business Bureau does not maintain a profile for Payvision at this time.
- Sales & Marketing: Payvision does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
Payvision Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
Aside from the few complaints linked above, there are no negative Payvision reviews to be found in the usual consumer protection forums, which is a good sign that the company is not a scam or a ripoff. The only two issues we have seen in merchant complaints about Payvision are fund-holds and deceptive sales practices, but the latter claim was professionally and convincingly rebutted by a Payvision representative. Merchants who encounter fund-holds might want to consider taking the steps to get those funds released.
Payvision Lawsuits and Fines
After a relatively clean profile, Payvision became embroiled in a shocking number and scope of legal issues from 2020 on. Most of these issues deal with the company allegedly knowingly allowing scammers to function through its service, with notorious criminals Uwe Lenhoff and Gal Barak among those perpetrating the scams. Further suits deal with the buying and selling of the company, and related company T1 Payments is also in the middle of massive legal action
As it stands, these suits are responsible for the shutdown of the company and represent some of the more spectacularly negative situations in the history of the industry. More can be read about the various cases here and here.
Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Payvision Customer Service Options
Payvision appears to offer direct phone support at most of its offices. Payvision’s customer support is likely to vary in quality depending on which location a merchant obtains service through, but it does seem as though the company as a whole does an effective job of resolving complaints in-house before they are taken to public forums.
Payvision Online Ratings
Here's How They Rate Online
No Dedicated Profile
The Better Business Bureau does not currently maintain a profile for Payvision. We therefore will not factor a BBB rating into the company’s overall review at this time.
Payvision Fees, Rates & Costs
A Closer Look at The Contract
|Swiped Rate||1.00% - 4.99%|
|Keyed-in Rate||1.00% - 4.99%|
|Early Termination Fee||Undisclosed|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||Undisclosed|
Variable Contract Terms
Given the company’s international merchant base, it is very likely that the standard pricing and terms of a Payvision contract will vary from location to location and will depend on a merchant’s size, business type, and time in business. Payvision offers e-commerce processing and support for over 150 currencies, so rates may be subject to extreme variation as a merchant expands into new international markets.
Given the use of Merrick Bank as the company’s sponsoring bank in the U.S., it is possible that the different Payvision locations operate with altered versions of the standard Merrick Bank Merchant Services agreement. However, there is no evidence to support this possibility at this time.
According to this 2010 thread from WebHostingTalk, Payvision has been known to freeze or terminate the accounts of high-risk merchant types. This policy makes sense for the company given the wide range of security standards it must deal with as an international processor, and we aren’t inclined to penalize Payvision at this time for having this policy in place. Additionally, one commenter in the linked forum above mentioned that Payvision is moving away from traditionally high-risk industries like online pharmacies and gambling in order to avoid having to terminate accounts or freeze payments.
No Red Flags
Payvision appears to offer competitive pricing and terms in most of its markets, but high-risk merchants might be better off working with a high-risk specialist. If you have had any direct experience with the standard Payvision contract (including early termination fees or PCI compliance fees), please share it in the comment section below this review.
We also encourage merchants to check out our list of the providers of the best merchant accounts.
Payvision Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
In-House Sales Team
Payvision appears to primarily market itself through its website, through strategic partnerships, and through traditional advertising channels. The company maintains offices across the world, but these offices may manage their own in-house sales teams. At this time, there is only one Payvision negative review that accuses the company’s sales team of unethical conduct, and this complaint has been sufficiently rebutted by a Payvision representative.
This compares favorably to our list of best credit card processors.
No Deceptive Quotes
Since the company’s lone sales complaint does not appear to involve an actual employee of Payvision, and since the company does not engage in any overtly deceptive advertising in its official materials, we have awarded the company an “A” rating in this category. If you are concerned that Payvision is overcharging you, you can double-check your monthly bill with a third-party statement audit.
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