Truevo Review

By Phillip Parker

I'm a business owner and merchant account expert who built this website 12 years ago to help other business owners find the ethical credit card processors. I've reviewed hundreds providers and been quoted in popular publications such as INC Magazine and The Los Angeles times. To date, I've helped over 5 million people better understand the credit card processing industry. Need advice on your processing from someone who isn't selling credit card processing services? Get in touch!

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Truevo Overview

 5/5

Industries Served

Retail
E-commerce
International
High risk
CBD

Products & Services Offered

Credit and debit card processing
Online payment gateway
Virtual terminal
Original credit transfer
Offshore merchant accounts

 5/5

Industries Served

Retail
E-commerce
International
High risk
CBD

Products & Services Offered

Credit and debit card processing
Online payment gateway
Virtual terminal
Original credit transfer
Offshore merchant accounts

*Earning your trust is our highest priority. We live by the same values we expect to see from the companies we review: Honesty, transparency and respect. With this in mind we wish to inform you that we may in some cases, but not all, receive referral income if you choose a provider that we recommend. This income does not influence our strict editorial standards or our recommendations. Our mission is to provide you with the best information regardless of generating income.

International E-Commerce and High Risk Processing

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. The company also advertises a virtual POS platform to facilitate MOTO transactions.

Truevo Location and Ownership

Truevo lists its headquarters at MWH Building, 1st Floor, Oratory Street, In-Naxxar NXR 2504, Malta. Dave Liu is the founder, chairman, and executive director of Truevo.

Truevo Review Table of Contents

Costs & Contract: Truevo offers variable contract terms depending on each business’s type, location, and processing history.
Complaints & Service: Truevo has received fewer than 10 public complaints.
BBB Rating: Truevo currently does not have a profile with the Better Business Bureau.
Sales & Marketing: Truevo does not appear to hire independent sales agents and has not received any complaints about its sales practices.
Rates & Fees: How Merchants Got The Best Rates With Truevo

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How to Fight Chargebacks and Win

September 10, 2018 13 Comments

Find out how to successfully dispute customer chargebacks. You can contest chargebacks by supplying evidence that counters the customer’s chargeback claim and then submitting the following evidence to your merchant account provider. Learn more about how to fight chargebacks in this article.

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Truevo Rates, Fees, and Costs

Variable Contract Terms

Truevo does not disclose its pricing to the public, and there are no complaints that mention specific rates or fees charged by the company. As a high risk payment processor operational in multiple countries, it’s likely that the company’s contract terms will vary dramatically depending on each merchant’s business type, location, and processing history. Truevo does not market any credit card processing hardware, but it is possible that such hardware might come with a long-term lease. Merchants are advised to purchase their own equipment whenever possible to avoid getting locked into long-term, non-cancellable equipment leases.

High Risk Means High Fees

High risk merchants who sign up with Truevo should expect to pay higher-than-average fees, and they may also be subject to cash reserves on their accounts. This is standard practice within the industry due to the elevated risk of chargebacks that many high risk merchants pose. High risk merchants can reduce their risk of fund holds and chargebacks by being open and transparent with Truevo about their business type and product lineup from the start.

Truevo CBD Contract Terms

Truevo will consider CBD oil merchants that have an EU entity, but the company will block transactions in countries where CBD is illegal. The company’s underwriting prerequisites for CBD merchants are as follows:

Merchants should only be shipping to countries in which the products are legal. If the merchant would still want to ship to certain countries that are not supported by Truevo, transactions from such countries will be blocked accordingly. At present, transactions from the countries listed below will be blocked for all CBD products however since international legislation is continuously changing the list may vary following a review by the risk officer and approval by the CRO:
- Australia
- Brazil
- Canada
- China
- France
- Germany
- New Zealand
- Russia
- Slovakia
- USA
All products are to be in line with EU legislation with THC levels below 0.2%
Merchants need to clearly state that all products are extracted from industrial hemp.
Merchants need to provide independent certificates which confirm that the THC levels are within EU thresholds and that the products are derived from industrial hemp.
Products claiming to provide medical benefits will not be approved (e.g. products that claim to cure conditions or diseases etc.)
Merchant should only be selling via straight sales (i.e. no subscription billing)

No Red Flags

We cannot find any Truevo complaints related to the company’s pricing, and there’s no reason to believe that the company’s merchants are dissatisfied with their pricing at this time. It is possible that Truevo offers a wide range of potential contract types, so merchants should understand how to spot undesirable terms in their contract.

Truevo Rates, Fees, and Costs

Key Points

Highest Rated "High-Risk" Processors

Truevo Complaints & Customer Reviews

No Public Complaints

We are unable to locate any negative Truevo reviews, which is a good sign that the company isn’t a ripoff or a scam. Truevo has been active for more than five years, so it is a positive sign to see that it has maintained such a clean complaint record. We will interpret this lack of merchant complaints as evidence that the company is operating ethically.

Truevo Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Truevo. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Truevo Support Options

Truevo lists phone and email customer support contact information on its website. This just barely meets the minimum level of service that we expect from top-rated payment processors for great customer service, but it appears to serve the company’s merchants well.

Truevo Complaints & Customer Reviews

Key Points

Highest Rated E-Commerce Processors

Truevo BBB Rating Summary

No Dedicated 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.

Truevo BBB Rating Summary

Key Points

Highest Rated Online Store Creators

Truth In Marketing & Advertising

Inside Sales Team

Truevo appears to rely on an in-house sales team and referral partners to market its services. We have not found any Truevo sales complaints that mention deceptive conduct. We will therefore assume for the time being that the company’s sales approach is transparent and ethical.

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.

Sales & Marketing Example

Truth In Marketing & Advertising

Key Points

Our Opinion Of Truevo

A Solid Option for European High Risk Merchants

Truevo rates as a reliable merchant services provider according to our rating criteria. The company enjoys a clean complaint record and is able to serve high risk merchants in a wide range of countries. However, merchants should be aware that we have not found detailed information about the company’s pricing and fees. We will continue to monitor the company and update this review as needed. For now, merchants should be sure to compare Truevo’s pricing to that offered by other top-rated high risk payment processors.

About Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance.

Need expert help? Learn how we can assist you here.

I offer merchant account and credit card processing consultation for the following needs:

Selecting the right credit card processing services for your business.
Reducing credit card processing fees with your current merchant account provider.
Negotiating credit card processing fees when changing merchant accounts.
Strategies for reducing and recovering funding holds and chargebacks.

Schedule a call with me today!

Leave Your Review For Truevo

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Copyright

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See Who It Is

Truevo Review

By Phillip Parker

Truevo Overview

Industries Served

Products & Services Offered

Industries Served

Products & Services Offered

International E-Commerce and High Risk Processing

Truevo Location and Ownership

Truevo Review Table of Contents

Stop Wasting Money On Processing Fees

How to Fight Chargebacks and Win

Highest Rated & Lowest Cost Processors

Truevo Rates, Fees, and Costs

Variable Contract Terms

High Risk Means High Fees

Truevo CBD Contract Terms

No Red Flags

Truevo Rates, Fees, and Costs

Key Points

Highest Rated "High-Risk" Processors

Truevo Complaints & Customer Reviews

No Public Complaints

Truevo Lawsuits

Truevo Support Options

Truevo Complaints & Customer Reviews

Key Points

Total Online Complaints

<10

Live Customer Support

Yes

Most Common Complaint

N/A

Highest Rated E-Commerce Processors

Truevo BBB Rating Summary

No Dedicated Profile

Truevo BBB Rating Summary

Key Points

Highest Rated Online Store Creators

Truth In Marketing & Advertising

Inside Sales Team

No Deceptive Rate Quotes

Sales & Marketing Example

Truth In Marketing & Advertising

Key Points

Employs Independent Resellers

No

Advertises Deceptive Rates

No

Discloses All Important Terms

No

Our Opinion Of Truevo

A Solid Option for European High Risk Merchants

About Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

Leave Your Review For Truevo

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Readers Choice of 2020

We'd love to hear your thoughts on Truevo

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