Is Truevo Right for High Risk and Multi Currency Businesses?

Name: Truevo
Item: Truevo
Rating: 5
Author: Phillip Parker

Updated: September 23, 2025

Maintained Since: June 25, 2019

We take our role in providing guidance and education regarding the card payment industry very seriously. At our own expense, we have vigorously defended our right to continue expose unethical and predatory practices in the industry, successfully defeating every attempt to silence us. However, fending off frivolous lawsuits is costly. To sustain these efforts, one of the ways we generate revenue is through affiliate partnerships with ethical providers. This means that some of our outgoing links connect business owners to trustworthy, low-cost payment processors, which is what most of our readers seek. We see this revenue channel as a win-win-win for everyone involved. Business owners find good processors, processors get good clients, and we are able to continue to provide a valuable service to the small business community. We also recommend and link to many services that do not compensate us. Our priority is to guide you to the best solutions for your needs, regardless of potential revenue. If you have questions, please feel free to contact us.

All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

Truevo

Rating

5/5

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Pros

Supports high-risk merchants

Multi-currency processing

Fast transaction speeds

Secure payment solutions

User-friendly interface

Cons

Potential higher fees

Potential cancellation fees

Limited hardware offerings

Contract terms undisclosed

No U.S. operations

Overview

Truevo is a payment processing company that serves businesses of all sizes with services such as credit card processing and online payments. In this review, we cover the company’s services, pricing, contract terms, and customer feedback. We also evaluate the transparency of its fees, the quality of its customer support, and overall client satisfaction. By the end, you will have a clear understanding of what Truevo provides and whether it is the right choice for your business’s payment processing needs.

About Truevo

Screen Capture of Truevo Homepage — Truevo Homepage

Founded in 2013, Truevo is a merchant account provider that serves both standard-risk and high-risk merchant sectors. Online gaming, gambling, traveling, and entertainment are among the industries the company services. The company was originally named “Swish Payments” but rebranded to Truevo in 2017. Truevo claims to offer European CBD merchant accounts, but this service is unavailable in Australia, Brazil, Canada, China, France, Germany, New Zealand, Russia, Slovakia, and the U.S.

In 2023, Truevo partnered with WLPayments to offer more gateway services across Europe.

Products & Merchant Services

Payment Processing

Truevo handles major debit and credit card transactions for various business types, focusing on mobile and e-commerce payments through their payment gateway. They also offer data reporting and analytics, along with a virtual POS platform for MOTO transactions.

Online Payment Gateway

Truevo’s online payment gateway allows businesses to accept credit card payments online, supporting a range of e-commerce payment solutions.

Point of Sale Solutions

Truevo provides POS solutions for accepting card payments in physical retail locations, including both traditional POS terminals and mobile POS options.

Virtual Terminal

Truevo’s virtual terminal enables merchants to process payments over the phone or via mail order without physical card readers, accommodating remote payment processing.

Fraud Prevention

Truevo employs various fraud prevention measures, including real-time monitoring and customizable rules, to secure transactions and prevent fraudulent activity.

Multi-Currency Processing

Truevo supports multi-currency processing, making it easier for businesses to handle international transactions across different markets.

Payment Card Industry (PCI) Compliance

Truevo’s solutions comply with the Payment Card Industry Data Security Standard (PCI DSS), ensuring secure handling of cardholder information.

Integration Support

Truevo offers integration support for various e-commerce platforms and shopping carts, facilitating the implementation of their payment solutions across different online retail environments.

Customer Reviews & Sentiment

Mixed Feedback, but Mostly Positive

Truevo has received relatively few negative reviews, indicating that it may not be associated with fraudulent activities. However, we have encountered some aggressive complaints against the company on websites dedicated to voicing grievances. Although these sites are mostly inactive now, the existence of such complaints raises concerns. If you have feedback on Truevo, feel free to share it in the comments below.

Legal Issues

Truevo faced a fine of €443,670 from the Maltese government in 2021 for alleged regulatory breaches. Further details on this matter and other legal actions against the company are challenging to obtain due to the complexity of Malta’s legal system. Dissatisfied clients seeking recourse against Truevo can consider reporting their concerns to relevant supervisory organizations.

Customer Support

Truevo provides phone and email support options, which meet the basic requirements for customer service expected from top-rated payment processors. While these support channels may suffice for most clients, there is room for improvement to enhance the overall customer experience.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop	1
BBB Rating	N/A
Google Maps	3.7
Average Rating	3.7

PaymentPop Rating for Truevo

Negative Feedback

Truevo are to be avoided at all costs I can post all correspondence they have stolen 1.6 Million Euro from one of my companies and 700k Euro from another and since 2018 have not returned this .Even asking for bank accounts but David Lui or Rachel Gauci will not answer the phone or reply to emails they have plainly just decided to keep the money it is 3 years they have no chargeback issue or problem from Acquiring Banks .Just Plain theft .Now the MALTESE law system means they are very clannish and corrupt so the Legal route is a risk

Positive Feedback

There are no positive reviews published about Truevo on the PaymentPop website.

No BBB Profile

The Better Business Bureau does not maintain a profile for Truevo at this time. We therefore will not factor a BBB rating into this review.

Trustpilot Rating for Truevo

Truevo has a 3.7 put of 5 star rating based on 7 user reviews on Trustpilot.

Positive Feedback

I was and am really pleased with Truevo Payments. They could not have been more helpful. From initial contact right through to setting up on the website every stage was very quick and efficient. I would have no hesitation in recommending this company to handle your online payments.

Negative Feedback

I would be very careful when dealing with this company. They will terminate you suddenly and disrupt your business. The business development team promise to help but keep changing every time I try to deal with someone they suddenly leave without letting me know and this is probably down to bad management.

Google Maps Rating for Truevo

Truevo has a 3.7 out of 5 star rating based on 26 user reviews on Google Maps.

Positive Feedback

Ive dealt with numerous card processing companies and these are by far the best for price, you get your money quickly and the compliance is the easiest procedure by far.

Negative Feedback

Often advertised as a high risk option yet as far as I can tell are not fit for purpose. Make constant mistakes which result in the customer not getting paid for extended periods and never apologise. All in all a bad experience. Avoid

Processing Rates & Fees

Variable Contract Terms

Truevo maintains confidentiality regarding its pricing, with no publicly disclosed rates or fees and a lack of specific complaints in this regard. Operating as a high-risk payment processor across multiple countries, Truevo’s contract terms are likely to vary considerably based on each merchant’s business type, location, and processing history. While Truevo does not advertise any credit card processing hardware, merchants should be cautious about potential long-term leases associated with such hardware, if offered. It’s generally recommended for businesses to purchase their own equipment to avoid being tied to long-term, non-cancellable equipment leases.

High-Risk Means High Fees

Businesses collaborating with Truevo in high-risk sectors should anticipate higher-than-average fees and possibly face cash reserves on their accounts. This approach is common in the industry due to the increased risk of chargebacks associated with high-risk businesses. High-risk clients can mitigate fund-holds and chargebacks risks by being transparent with Truevo about their business type and products from the outset.

Truevo CBD Contract Terms

Truevo considers CBD oil merchants with an EU entity, but transactions will be blocked in countries where CBD is illegal. The underwriting criteria for CBD merchants include:

Shipping only to countries where the products are legal. Transactions will be blocked in certain countries, which currently include Australia, Brazil, Canada, China, France, Germany, New Zealand, Russia, Slovakia, and the USA. This list may be updated as international legislation changes.
Products must comply with EU legislation, with THC levels below 0.2%.
Clear labeling that products are derived from industrial hemp.
Independent certification confirming THC levels within EU thresholds and hemp derivation.
No medical benefit claims for the products.
Sales should be straightforward, without subscription billing.

No Red Flags

There are no known complaints regarding Truevo’s pricing, suggesting client satisfaction. However, the potential diversity in contract types offered by Truevo requires business owners to be vigilant and knowledgeable about their contract terms to avoid undesirable conditions.

Readers are also advised to review our selection of the top merchant accounts for comparison.

Employee Reviews & Sales Practices

Inside Sales Team

Truevo appears to rely on an in-house sales team and referral partners to market its services. We have not found only one Truevo review (in the comments below) that mentions deceptive conduct. We will therefore assume for the time being that the company’s sales approach is generally transparent and ethical.

This compares favorably to our list of best credit card processors.

No Deceptive Rate Quotes

Truevo does not list any misleading rate quotes or unrealistic guarantees in its official marketing materials. If you suspect that a Truevo sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit.

Truevo Competitors

Compare Truevo to competitors that earned top marks.

Pricing

Bottom Line

Truevo stands out as a dependable credit card processing provider, meeting our stringent rating criteria with a solid track record and a commendable absence of complaints. Its ability to cater to high-risk businesses across a wide geographical spectrum further cements its appeal.

However, prospective customers should note the lack of publicly available details on Truevo’s pricing and fee structure, which could impact their decision-making process. Given this opacity, it’s crucial for business owners to exercise caution and compare Truevo’s offerings against other leading high-risk payment processors before finalizing their choice. We are closely monitoring the company for any changes and will update this assessment accordingly to provide the most accurate and up-to-date information.

Read Actual User Reviews

See User Reviews Write a Review

All user reviews have been moved to our partner, PaymentPop.com

Contact Truevo

Contact & Customer Support
Founder and Chairman	Dave Liu
Headquarters	3rd Floor, Triq L-Imdina Zone 2 Central Business District, Birkirkara, Malta, CBD2010
Customer Support	+356 2247 4000
Additional Support Channels	Online Contact Form
Website	truevo.com

About Us

CardPaymentOptions.com

Established 2009

My name is Phillip Parker, and I started this website back in 2009 as a simple blog to call out shady credit card processors that were taking advantage of small business owners. At the time, I had no idea this side project would grow into a leading voice pushing for transparency and integrity in the payment processing industry. I also didn't anticipate just how far some of these companies' owners would go to try to silence me.

I was recruited out of college for a sales role with a credit card processor. At the time, I didn't realize the “training” was really about tricking me... into selling business owners expensive processing with hidden fees and long-term service agreements. In my first few sales, I unknowingly cost friends and family thousands of dollars after they trusted me to switch their services. When it finally clicked that something was seriously wrong, I was furious. I quit immediately and made a promise to expose that company and any others operating the same way. That promise is what led to the creation of this website.

As I wrote about these processors, their tactics, and the people behind them, the articles started to spread among business owners. News organizations picked up the stories, readers shared them online, and traffic to the blog took off. Unsurprisingly, that also caught the attention of the companies and individuals I was exposing.

Over the last 17 years, I've received several anonymous death threats and defeated four lawsuits meant to intimidate me into taking my blog down. Their efforts to muzzle me only made my determination to expose them even stronger, leading me to work with state authorities to help shutdown some of the worst offenders.

I'm proud to say that of the millions of people who have read my work, thousands have taken the time to write and thank me for helping them narrowly avoid a very costly mistake. This blog has played a small role in pushing the industry toward more ethical practices - but there are still bad actors out there, which means the work isn't done.

If I can offer one piece of advice, it's this: get every promise in writing, and take the time to review contracts carefully. Tools like ChatGPT can help surface red flags and uncover expensive surprises buried in the fine print.

If you've made it this far, thank you for reading. I truly appreciate you being here, and I wish you every success with your business.

Our Research Methodology

Pricing & Fees

We analyze all costs including rate structures (interchange-plus, tiered, flat-rate, etc), monthly fees, equipment costs, early termination fees, and hidden charges. This data is gathered from service agreements, statements and client feedback.

Features & Technology

Evaluation of POS systems, e-commerce integrations, mobile capabilities, reporting tools, recurring billing..., and developer resources. When possible, we directly test services and hardware. Otherwise, we rely on client feedback and public information.

Customer Support

We evaluate availability across phone, email, chat, and social channels. Measuring hold times, night and weekend availability, and client feedback regarding effectiveness, professionalism, and resolution rates.

Contract Terms & Conditions

We review service agreements and equipment contracts for reasonability, transparency, and fairness. We focus on uncovering any predatory clauses, such as unjustified early termination fees, hidden costs, and unclear cancellation policies.

User Experience

We comb the internet and interview current and former clients to evaluate the overall user experience and identify any common pain points that may impact the user experience.

Sales & Marketing Practices

We evaluate sales tactics, marketing materials, and client feedback to determine the level of transparency and ethical nature of the provider's approach. Does the provider publicly disclose pricing? Do they use teaser rates? We score based on these and other factors.

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