Entrepreneurship & Small Business

Does anyone have any experience with a company called Nuvei (previously called Wholesale Payments Direct)?

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  • Nov 26th, 2019 5:21 pm
[OP]
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Nov 12, 2018
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Montreal

Does anyone have any experience with a company called Nuvei (previously called Wholesale Payments Direct)?

We're shopping around trying to find the best deal for a payment solution for our small restaurant. So far we know about Moneris, Clover and this one, Nuvei. Do you guys have any feedback? Thanks in advance!
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Feb 18, 2014
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Nuvei is Pivotal Payments, rebranded. Feel free to google them...

As for the Costco deal, rates are pretty solid, depending on the card types that are being used. One drawback is that their Interac fees are quite high.

Clover is First Data, now called Fiserv. If you go with them - or anyone else for that matter - make sure that you are renting the terminal, NOT leasing.

Happy to provide more info, if you'd like.
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Mar 18, 2005
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gamechanger wrote: Nuvei is Pivotal Payments, rebranded. Feel free to google them...

As for the Costco deal, rates are pretty solid, depending on the card types that are being used. One drawback is that their Interac fees are quite high.

Clover is First Data, now called Fiserv. If you go with them - or anyone else for that matter - make sure that you are renting the terminal, NOT leasing.

Happy to provide more info, if you'd like.
Very important.
[OP]
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Nov 12, 2018
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Montreal
gamechanger wrote: Nuvei is Pivotal Payments, rebranded. Feel free to google them...

As for the Costco deal, rates are pretty solid, depending on the card types that are being used. One drawback is that their Interac fees are quite high.

Clover is First Data, now called Fiserv. If you go with them - or anyone else for that matter - make sure that you are renting the terminal, NOT leasing.

Happy to provide more info, if you'd like.
Thank you very much for the response. So far, we know that Moneris is much more expensive than others... Today we had a meeting with a Clover sales representative. After show him Nuvei's deal, he couldn't deny their deal was better than Clover's. So it seems like we will go with Nuvei... The only thing is that they don't rent their terminal (in our case the Move/5000), they leasing it, at least that's what the sales woman told my wife. We are going to double check this anyway but why is such a bad thing to leasing it? They also gave us the option to buy it but it's pretty expensive (I think around 2k).
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Feb 18, 2014
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Turnham wrote: Thank you very much for the response. So far, we know that Moneris is much more expensive than others... Today we had a meeting with a Clover sales representative. After show him Nuvei's deal, he couldn't deny their deal was better than Clover's. So it seems like we will go with Nuvei... The only thing is that they don't rent their terminal (in our case the Move/5000), they leasing it, at least that's what the sales woman told my wife. We are going to double check this anyway but why is such a bad thing to leasing it? They also gave us the option to buy it but it's pretty expensive (I think around 2k).
Feel free to message me. I’m able to provide rental options for the same unit, without the cancellation fees that you’d pay like to Nuvei. If you’re not comfortable with that, stick to Moneris. Never lease, and never enter into a contract where the penalties to cancel could literally cost you thousands.
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Feb 18, 2014
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As for leasing, technology changes in a hurry. Why be stuck with hardware that will be obsolete? More importantly, you are stuck in a 4 or 5 year lease! If you cancel, you’re still stuck paying for the unit.
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Turnham wrote: Thank you very much for the response. So far, we know that Moneris is much more expensive than others... Today we had a meeting with a Clover sales representative. After show him Nuvei's deal, he couldn't deny their deal was better than Clover's. So it seems like we will go with Nuvei... The only thing is that they don't rent their terminal (in our case the Move/5000), they leasing it, at least that's what the sales woman told my wife. We are going to double check this anyway but why is such a bad thing to leasing it? They also gave us the option to buy it but it's pretty expensive (I think around 2k).
The problem with the lease is that it can be very expensive to cancel the lease if you find yourself no longer needing the service. They can also start upping fee's during your contract period. If I remember correctly, even if you're able to back out of the contract for services, you're on the hook the leased hardware.
[OP]
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Nov 12, 2018
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Montreal
gamechanger wrote: Feel free to message me. I’m able to provide rental options for the same unit, without the cancellation fees that you’d pay like to Nuvei. If you’re not comfortable with that, stick to Moneris. Never lease, and never enter into a contract where the penalties to cancel could literally cost you thousands.
Perhaps, do you know what's the average price for this terminal (Move/5000)? We might end up buying it. According to her, with them, you can only get it through leasing or buying it. We've seen other companies offering cheaper machines, what makes Nuvei's terminals be that much expensive? I don't get it...
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Feb 16, 2018
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gamechanger wrote: 2.65% and $0.10 for Interac is expensive. If their volumes are over $4,000 / month, they are paying a premium for Square.
Not really.

It will depends on what the $4k/month is comprised of. if it's mainly debit then square can be cheaper because you are not paying to rent a terminal. The wireless terminals Moneris uses are $60/month + all the extra fees like PCI fee and account fee etc. Even if it's a decent mix of credit/debit the $720 plus a year for the fees associated with a terminal are a lot.

It also depends if the terminal is wireless or not. Don't dismiss square because of the higher fees because the savings from renting a terminal are quite a lot
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Feb 18, 2014
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HghSsociety wrote: Not really.

It will depends on what the $4k/month is comprised of. if it's mainly debit then square can be cheaper because you are not paying to rent a terminal. The wireless terminals Moneris uses are $60/month + all the extra fees like PCI fee and account fee etc. Even if it's a decent mix of credit/debit the $720 plus a year for the fees associated with a terminal are a lot.

It also depends if the terminal is wireless or not. Don't dismiss square because of the higher fees because the savings from renting a terminal are quite a lot
The 4K mentioned was assuming credit card volume. Apologies for not making that clear. $60 for Moneris wireless is very high. They will go as low as $45, and even $40 if you’ve negotiated well.
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not really in the market, but on facebook ive seen Canadian Payment Services..they advertise 1.29% for all cards (which must be some kind of marketing gimmick) but if someone is in the market perhaps worth a look...they use the clover flex

...on reading the website, it says 1.29% is the base rate, whatever that means..perhaps their market on the interchange rates? in which case its a bad deal

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