Evolution Bankcard Review

*7.6 / 10
Our Rating

Users' Rating
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Transaction Rates
Risk Accepted
All are Eligible
Setup Fee
Month to Month
Cancel Fee
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Per Transaction
$0.17 to $0.31

Evolution Bankcard is a leading credit card processor offering competitive rates for all business types—from brick and mortar to ecommerce to merchants on the go processing with smartphones. Founded in 2005, Evolution has become one of the strongest branches of its parent company, EVO Merchant Services, which processes 400 million transactions annually for more than 300,000 businesses, conducting $32 billion in volume. The company boasts an A+ Accredited Business rating from the Better Business Bureau and processes payments for high profile clientele such as Hilton and DoubleTree Hotels, Subway, Quiznos, Curves and Avis Rent a Car locations, among many others.

Processor Highlights

  • eCommerce, Retail, Wireless, MOTO
  • Free retail terminal for new clients
  • 98% approval rating
  • $100 Low-Cost Guarantee
  • Low per transaction fee
  • Next-day settlement
  • Monthly contract, no cancellation fee
  • Free online reporting tools
  • 24/7 experienced customer service

Contract Term

Month to Month

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Low-Cost Guarantee

Evolution guarantees its rates are the lowest available by offering a $100 check to merchants who can find processing rates they are unable to beat.

Processing time

Since Evolution both processes payments and facilitates interchange between merchant and consumer banks, settlement occurs at an accelerated rate. This guarantees that Evolution can deposit funds in a merchant’s bank account via ACH within one business day, which is faster than the industry standard of 2-3 business days.

Terminal Information

Evolution provides all its merchants with equipment for processing payments at no cost. In-store merchants are provided with a retail terminal that can be set up and running in two hours, merchants that are "on the go" are provided a free wireless terminal ($395.00 value), while merchants who conduct transactions with their smart phones are given a free swiper and smart phone app download, which is compatible with iPhone, Android, Windows and Blackberry devices. Additionally, merchants who conduct CNP transactions (including Mail Order / Telephone Order) have free access to Evolution’s virtual terminal, which has seamless integration with over 89 of the most popular ecommerce shopping carts available. Businesses that wish to use a combination of processing platforms can expect a nominal monthly fee for each additional service ($4.95 for retail terminal, $4.95 for mobile phone terminal and $9.95 for virtual terminal).

Security and PCI Compliance

Evolution is a certified Level 1 PCI DSS business. Evolution maintains rigorous security standards through annual on-site security audits and quarterly network scans, as well as assessment from third-party security officers and qualified independent scan vendors.

Risk Accepted and Average Approval Rating

Evolution is open to every type of business and averages a 98% approval rate for new merchants. Additionally, new merchants can register online and receive approval within minutes, not hours or days, thanks to Evolution’s convenient e-signature application.

Gateway Compatibility

For CNP transactions, Evolution utilizes Authorize.net as a payment gateway, which is the most widely used and reputable company in the business.

Cost Per Month

Monthly service fees will vary depending on how many services each merchant utilizes per month. Retail and mobile phone terminals each accrue a fee of $4.95 per month, while the online terminal is $9.95 per month. Unlike some processors, Evolution charges no annual fees on top of its standard monthly rates.

Type of Interface Cost/ Month
Retail/Swipe Terminal $4.95
Mobile Phone Terminal $4.95
Online Terminal $9.95


Instead of signing merchants to lengthy annual contracts, Evolution offers a flexible month-to-month arrangement to merchants.

Customer Support

To ensure reliable support, Evolution offers 24-hour troubleshooting from trained representatives, with many having more than four years’ experience in the payment processing industry. Merchants can also access free online reporting tools to document statistics on transactions as well as to review batches and settlements.

Cancellation fees

Evolution operates on a month-to-month basis and as such, does not charge any cancellation fees. As long as cancellation letters are emailed or faxed to Evolution’s customer support department by the last business day of the month, merchants won’t receive any charges for the subsequent month.

CCPnet’s Conclusion on Evolution

Evolution is a standout payment processor in its ability to combine highly competitive rates with solid security practices and top-notch customer service. Those new to payment processing will appreciate the 24-hour availability of customer service to guide them through any potential troubleshooting, while experienced merchants will fully appreciate Evolution’s quick settlement turnover and unparalleled transaction rates.

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