Evolv

What Evolv does

Evolv, Inc. is a privately held, multi-processor Independent Sales Organization (ISO) headquartered in Newburgh, Indiana, founded in 1998 as Approval Payment Solutions and rebranded in 2021. The company operates payment acceptance as its core business, distributing a multi-processor platform across TSYS, Fiserv, FIS, WorldPay, and Global Payments and earning residuals on transaction volume. Evolv processes more than $7 billion annually for over 18,000 businesses nationwide, supported by 25+ independent sales offices, 70+ financial institution partners, and 109+ association endorsements.

The product stack combines proprietary hardware (EvolvPay terminal family running Android/Linux), proprietary software (MAC Merchant Account Center CRM, EvolvPay Gateway, Optimize B2B Gateway, and the Buyer's Choice dual-pricing solution that passes card acceptance costs to consumers), and partner-supplied equipment (Clover, Dejavoo, Aldelo, Verifone, PAX). Adjacent services include high-risk merchant processing, ACH/check acceptance, gift/loyalty (EvolvGift), QuickBooks integration, healthcare Practice Management Bridge, and the VIV digital marketing agency (majority-owned since 2020, operating in 46 states).

Revenue is generated through four streams: payment processing residuals on transaction volume, equipment sales and leasing, recurring digital marketing and SEO services via VIV, and managed back-office services for other ISOs. Go-to-market combines direct enterprise sales to financial institutions and large associations, a regional sales-office model (St. Louis, Kansas City, Nashville, Central Florida, Mid-Atlantic, Great Lakes), and ISO/agent referral programs. Strategic focus over 2024-2026 has shifted toward regional roll-up acquisitions, vertical specialization (legal, government, outfitters, gyms, franchise), and entry into adjacent recurring services such as payroll and bookkeeping.

Name

Evolv

Legal name

Evolv, Inc.

Website

https://poweredbyevolv.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

Evolv is a private, multi-processor payment services ISO that processes over $7 billion annually for 18,000+ U.S. businesses via proprietary EvolvPay terminals, the Buyer's Choice dual-pricing solution, and a network of regional sales offices, bank partners, and the VIV digital marketing subsidiary.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD)

akta.pro secondary industry

EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG)

Keywords

• Merchant payment processing
• Credit card processing
• ISO sales organization
• Payment gateway services
• Digital marketing services

Headquarters

HQ city

Newburgh

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Payment Processing: Transaction-based revenue from processing credit/debit card payments, ACH transfers, and check payments for merchants. Evolv operates as a multi-processor ISO earning residuals from processing volume.
2. Equipment Sales/Leasing: Sale and leasing of payment terminals including EvolvPay, PAX, Clover, Ingenico, Verifone, and Dejavoo devices
3. Digital Marketing Services: Website development, social media management, paid advertising, SEO, email/SMS marketing through VIV digital marketing agency
4. Managed Services for ISOs: Back-office services for independent sales organizations including customer service, training, lead generation, commission payments, and accounting

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Evolv is a multi-processor merchant services provider that processes credit/debit card, ACH, and check payments for over 18,000 businesses across the US, deploying proprietary EvolvPay terminals, the Buyer's Choice dual-pricing solution, virtual gateways, POS systems, and contactless/mobile readers. The company also delivers digital marketing services (website development, SEO, social media management, paid advertising) through its VIV subsidiary, and supplies vertical-specific payment programs for government/municipalities (GovCard), law firms (Prime Legal), gyms (Gym Core), and outfitters. Revenue is generated from transaction-based processing residuals, equipment sales and leasing, digital marketing subscriptions, and managed services for ISO partners.

Product overview

Evolv is a multi-processor sales organization offering a comprehensive payment acceptance platform with multiple product lines and add-on services. The core offering centers on EvolvPay terminals (including EvolvPay 100, 110, 300, 550, and 800 models) and the Buyer's Choice cost-elimination solution, supplemented by the EvolvPay Gateway virtual terminal for online/card-not-present transactions. The platform includes point-of-sale systems (Clover, Aldelo Express, DejapayPro, Genius), mobile payment solutions, and ACH/check processing. Evolv provides specialized vertical solutions through sub-brands including Prime Legal for law firms, GovCard for government/municipalities, and Woodsmen Outfitter Solutions for outdoor recreation. The company has expanded into digital marketing through its VIV subsidiary, offering website development, eCommerce, social media management, and advertising services. Additional add-on modules include gift/loyalty programs (EvolvGift), QuickBooks integration, healthcare practice management (Practice Management Bridge), payroll services, and high-risk merchant processing. The platform is supported by the MAC (Merchant Account Center) custom CRM for merchant management and a Managed Services program for ISO partners.

Differentiator

Problem solved

Functional benefit

Brands

• VIV: Digital marketing agency subsidiary offering website development, social media management, paid advertising, eCommerce development, VIV Search (listings management), email & SMS marketing, Connected TV, and SEO services.
• GovCard
• Prime Legal
• EvolvPay
• Orion Payment Systems
• Gym Core
• Woodsmen Outfitter Solutions
• Evolv Payroll and Bookkeeping
• Evolv KC
• Evolv Mid-Atlantic
• Evolv Nashville

Products and services

• EvolvPay Terminals Range of proprietary payment terminals including EvolvPay 100, 110, 300, 550, and 800 models running on Android and Linux platforms, with varying capabilities such as Ethernet/WiFi connectivity, dual touchscreens, built-in printers, and contactless/NFC support. Designed for SMB and mid-market merchants accepting credit/debit cards in retail, restaurant, and on-the-go environments.
• Buyer's Choice Proprietary dual-pricing solution that automatically configures a cash price and a card price for products and services, adding the cost of payment acceptance to the card price and allowing merchants to eliminate nearly all payment acceptance expenses by passing fees to cardholders. Targeted at merchants seeking to eliminate 2-4% processing fees.
• EvolvPay Gateway Virtual terminal and payment gateway for online payments, phone invoicing, payment links, and recurring payments. Supports credit/debit cards, gift cards, and ACH. Designed for merchants needing card-not-present and online payment acceptance.
• Optimize Gateway B2B-focused payment gateway that optimizes interchange to achieve Level II and III rates for business cards, with ACH integration. Built for B2B merchants seeking to lower processing costs on commercial card transactions.
• Mobile Payment App Mobile payment solution for iOS and Android that enables accepting credit card payments on-the-go with swipe, dip, or tap capabilities, offline mode, and customizable tip settings. Targeted at mobile merchants, service providers, and field-based businesses.
• Point-of-Sale Systems Complete POS solutions including Clover Station Duo, Aldelo Express, DejapayPro (Android), and Genius for restaurants, with inventory management, employee tracking, and reporting features. Targeted at retail and restaurant merchants needing integrated POS hardware and software.
• EvolvGift Gift card and loyalty program solution allowing merchants to create custom gift cards, loyalty programs, and digital rewards to increase customer retention and brand awareness. Targeted at retail and restaurant merchants seeking repeat business tools.
• ACH & Check Solutions ACH debit and check acceptance solution including check verification, ACH program options, and check conversion services for online or point-of-sale environments. Designed for merchants needing non-card payment acceptance.
• Contactless Terminals NFC-enabled terminals accepting tap-to-pay, Apple Pay, Google Wallet, and other mobile wallet payments with built-in downloads and prompts. Targeted at merchants upgrading to contactless and mobile wallet acceptance.
• Evolv Payroll & Bookkeeping Payroll and HR solution built on iSolved platform, offering single sign-on access to employee database, detailed reporting, and analytics for small to mid-sized merchants. Targeted at merchants needing integrated payroll and HR alongside payment services.
• High Risk Processing Specialized payment processing for high-risk merchant accounts including CBD, firearms, gambling, and other restricted business types with 24-72 hour approval times. Targeted at merchants in restricted industries who cannot obtain standard processing.
• MAC (Merchant Account Center) Custom CRM and merchant services management platform providing end-to-end sales, customer support, and resource management solution for ISOs and merchant portfolios, with eSignature capabilities. Targeted at Evolv's internal ISO operations and partner agents managing merchant accounts.
• Managed Services for ISOs Back-office and front-end services for Independent Sales Organizations (ISOs) including customer service, training, lead generation, merchant onboarding, deployment, technical support, and accounting. Targeted at ISO partners seeking to outsource operational burden and scale sales.
• VIV Digital Marketing Digital marketing agency providing website design, eCommerce development, social media management, VIV Search (SEO/listings), digital advertising, email/SMS marketing, and Connected TV advertising services. Targeted at Evolv merchant clients needing digital growth and online presence services across 46 US states.
• GovCard Government and water systems payment solution offering no-cost payment processing with Visa/Mastercard service fee programs, mobile payments, ACH, and text payments for municipalities. Serving 500+ government entities nationwide including cities, townships, water systems, and housing authorities.
• Prime Legal Specialized division offering customized payment and marketing solutions for law firms including Google Screened partnership, custom websites, and pay-per-results advertising. Targeted at legal practices seeking specialized payment acceptance and lead generation.
• Woodsmen Outfitter Solutions Outfitter-specific payment solution offering no-cost payment processing for qualified industries including hunting guides, fishing operations, and outdoor recreation businesses, serving associations like IOGA, ATA, and Colorado Outfitters. Targeted at outfitter and outdoor industry merchants.

Quantifiable outcome

• 90%+ merchant retention rate
• +2 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration25 records

AI capability5 records

Feature5 records

Partnerships

19 partnerships are on record, tiered core, supporting and major.

• Fran MetricscoreTechnology or Integration · 17 June 2026Integration bringing payment data and franchise performance analytics together. Automates royalty payment collection and reconciliation, reduces manual data entry, provides real-time payment data synchronization across franchise locations.
• FEMA (Farm Equipment Manufacturers Association)supportingGTM or Marketing Partner · 16 March 2026FEMA partnered with Evolv as Endorsed Partner for Payment Acceptance and Digital Marketing solutions.
• AERA Engine Builders AssociationsupportingGTM or Marketing Partner · 10 March 2026AERA partnered with Evolv as Corporate Partner for Digital Marketing solutions.
• Intersect Technology GroupcoreStrategic or Co-development Partner · 20 February 2026Strategic partnership to equip financial institutions with practical, scalable AI strategies. Combines Evolv's payment acceptance solutions with Intersect's AI governance and implementation advisory for banks seeking technological advancement.
• GCBAA (Golf Course Builders Association of America)supportingGTM or Marketing Partner · 1 January 2026GCBAA partnered with Evolv as Preferred Partner for Payment Acceptance and Digital Marketing solutions.
• Cash TransactionsmajorStrategic or Co-development Partner · 10 December 2025Evolv serves as exclusive provider for merchant processing and digital marketing services. Partnership combines next-generation payment technologies with Cash Transactions' experience in ATM and financial services.
• Treascent LLCmajorGTM or Marketing Partner · 12 September 2025Treascent selected Evolv as exclusive Preferred Provider for Merchant Services and Digital Marketing. Provides community banks and credit unions access to Evolv's merchant services.
• DeNovo TreasurymajorGTM or Marketing Partner · 18 July 2025DeNovo Treasury selected Evolv as exclusive preferred provider for Merchant Services and Digital Marketing. Partnership helps community banks and credit unions serve business customers.
• MELNA (Maine Landscape & Nursery Association)supportingGTM or Marketing Partner · 17 June 2025MELNA partnered with Evolv as Preferred Partner for Payment Acceptance and Digital Marketing solutions with exclusive member discounts.
• DejavoocoreTechnology or Integration · 11 March 2025Strategic partnership combining Evolv's industry expertise with Dejavoo's future-ready hardware and software. Provides seamless, secure payment experience through iPOSpays omni-commerce gateway and Android/Linux terminal lines.
• Community Bankers Association of GeorgiamajorGTM or Marketing Partner · 13 February 2025CBA of Georgia selected Evolv as preferred vendor for merchant services. Evolv provides tailored payment solutions to CBA member banks.
• United Bankers BankmajorGTM or Marketing Partner · 5 February 2025UBB partnered with Evolv for Merchant Services program. Evolv delivers white-glove merchant services program for UBB's partner banks across the US.
• EnzoPay (Acquired as Evolv Mid-Atlantic)coreStrategic or Co-development Partner · 3 December 2024Virginia-based EnzoPay acquired and transitioned to Evolv Mid-Atlantic. Strengthens distribution network in Virginia, DC, Maryland, and New Jersey with focus on software integrations and bank partnerships.
• Future Payments (Acquired as Evolv Nashville)coreStrategic or Co-development Partner · 4 November 2024Nashville-based Future Payments acquired and transitioned to Evolv Nashville. Founded 2024 by Shay Horseman and Brad Hollar with veteran agent team across the US.
• Pro1611 (Acquired as Evolv KC)coreStrategic or Co-development Partner · 14 February 2024Kansas City-based Pro1611 acquired and transitioned to Evolv Kansas City. Managing partners Jason Bahnson and Drew Smith lead W2 sales force expansion.
• Aldelo POSsupportingTechnology or Integration · 6 June 2023Combined Evolv payment processing with Aldelo Express POS platform delivering tier-1 payment solution to restaurant owners.
• Valor PayTechcoreTechnology or Integration · 1 September 2021Strategic alliance delivering branded EvolvPay payment solutions. Valor provides POS technology with $2B+ in processed transactions, 110+ shopping cart integrations, and 250,000+ connected devices.
• TSYS, Fiserv, FIS, WorldPay, Global PaymentscoreTechnology or IntegrationEvolv is partnered with three of the largest payment processors in the United States as a multi-processor sales office.
• VIV Digital MarketingcoreStrategic or Co-development PartnerEvolv invested in VIV digital marketing agency (2017 minority interest, 2020 majority interest). VIV provides website development, social media management, paid advertising, and SEO services.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Block (Square): Public payments and fintech incumbent offering integrated POS, hardware, software, and merchant lending. Competes with Evolv by going direct-to-merchant and bypassing the ISO channel; comparable as a defining competitor for SMB payment acceptance.
• Stripe: Global payments infrastructure incumbent powering online and embedded commerce for businesses of all sizes. Competes with Evolv in online/eCommerce processing (where Evolv's EvolvPay Gateway and Optimize Gateway operate) and increasingly in POS via Stripe Terminal.
• Fiserv (Clover): Major payments processor whose Clover POS platform competes directly with Evolv's POS offerings. Also a key processor partner of Evolv; comparable as a vertically integrated incumbent combining processing rails and merchant-facing software.
• PayPal (Braintree): Established digital payments incumbent offering online, mobile, and in-person payment acceptance for SMBs and enterprises. Comparable to Evolv in online gateway and merchant services, with significantly larger scale and brand reach.

Direct peers

• Payment Depot: Membership-based merchant services provider and ISO offering flat-rate payment processing and POS solutions to SMBs. Directly comparable to Evolv in serving relationship-led merchants with interchange-plus and bundled hardware offerings.
• Stax Payments (Stax by Fattmerchant): Subscription-based merchant services provider offering transparent, flat-rate payment processing integrated with POS and B2B tools. Comparable to Evolv as a technology-forward ISO challenger serving SMBs across the US.
• North American Bancard: One of the largest independent sales organizations (ISOs) in the US, offering multi-processor merchant services, POS, and online payments to SMBs across verticals. Closely comparable to Evolv in business model, ISO-channel distribution, and processing-residual economics.
• Heartland Payment Systems: Large US payment processing and POS provider serving restaurants, education, and SMBs, now part of Global Payments. Comparable to Evolv in providing integrated merchant services, POS, and ISO-style partner programs.

Emerging players

• Toast: Restaurant-focused payments and POS platform with integrated hardware and software for the food-service vertical. Comparable to Evolv's restaurant-vertical offering (Aldelo/Aldelo Express integration) but with a direct, software-led go-to-market.
• Lightspeed Commerce: Cloud-based commerce platform providing POS, payments, and eCommerce for retail and restaurant verticals. Comparable to Evolv in offering integrated payments-and-software bundles to vertical SMB merchants, though with a more SaaS-led positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tr?id=569608811411574&ev=PageView&noscript=1
• LinkedInlinkedin.com/company/poweredbyevolv

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evolv