Best for
Merchants of all sizes seeking a payment processing company that offers online gateways and/or virtual POS systems.
Specializes in
Inovio specializes in working with businesses of all sizes and risk profiles, including those that require recurring payments for memberships. The company uses military-grade encryption to schedule and process payments, which reduces instances of fraud.
Pricing Summary
Setup Fee: Unknown
Monthly Fee: Unknown
Swipe Rate: Unknown
Keyed-in Rate: Unknown
Early Termination Fee : 50% of Remaining Contract
Contract Terms:
Inovio was once known as a company called Argus Payments. The company is an online payment gateway provider that is owned by North American Bancard.
The company operated independently under the name Argus Payments until it was acquired by North American Bancard in 2014. It was rebranded as Inovio in 2016.
Inovio is headquartered in Woodland Hills, California, and Conal Cunningham is the company’s general manager and founder.
Inovio is a subsidiary of North American Bancard. The company was formerly known as Argus Payments, not to be confused with Argus Merchant Services. Argus Payments operated independently until 2014, when it was acquired by North American Bancard.
Argus Payments was rebranded as Inovio in 2016. The company is located in Woodland Hills, California and its founder and general manager is Conal Cunningham.
Inovio offers its merchant customers global scalability through its payment gateway services. Its team has more than 25 years of experience along with connections to payment services providers, acquirers and processors all over the world.
Head Quarters
21650 Oxnard Street, Suite 1200, Woodland Hills, CA 91367, US
Year Founded
2016
CEO
Unknown
Employees
11-50
Merchant Provider Risk Tolerance
Accepts high risk businesses.
Quick setup.
They offer the ability to keep cards on file.
It’s difficult to find information on pricing and fees.
They charge an early termination fee.
Hardware & Software
Inovio offers several options for payment processing, including:
Payment gateways
Hosted checkout pages, which can be modified to give merchants more control
Virtual POS systems to process phone and web payments
Support for international payments
Third party integration with existing POS systems
Value Added Services
Inovio has remained focused on the payment processing industry and there are no additional value added services listed on their website. However, they do offer an omni-channel platform that is complete with 3-D Secure authentication.
Merchants also have the ability to keep cards on file for easy checkouts for their customers. The company is a PCI DSS Level 1 compliant processor with point-to-point encryption, the best tokenization technology and fraud protection.
Supported Payment Types & Services
Inovio allows its merchant customers to process credit card transactions as well as ACH transactions. It is not clear if the company’s payment gateway is set up to process checks, echecks or gift cards.
However, because the company does integrate with third-party payment processing tools and POS systems, it is possible that a personalized solution can be found for processing additional forms of payment. Inovio also offers processing for international payments in multiple currencies.
Discloses All Important Terms
No
Public Pricing Available
No
Inovio does not publish any information publicly about its pricing and fees. However, the company has published its gateway agreement online, which indicates that there is a separate fee schedule that will be attached once the company and the merchant have successfully negotiated a fee for services.
It is likely that Inovio offers customized fees for each merchant based on their risk profile, and this could be why they do not publicly publish their prices.
Pricing Model
Unknown
Swiped Rate
Unknown
Keyed-in Rate
Unknown
Mobile Payment Rate
Unknown
Virtual Terminal Rate
N/A
Monthly Fee
Unknown
Payment Gateway Fee
N/A
Batch Fee
N/A
Early Termination Fee
50% of Remaining Contract
PCI Compliance Fee
N/A
Equipment Lease Terms
N/A
Address Verification Service (AVS)
Unknown
Application Fee
Unknown
Account Setup Fee
Unknown
Gateway Setup Fee
N/A
Annual Fee
N/A
Monthly Minimum
Unknown
Statement Fee
N/A
Inovio has published a standard gateway agreement, but many of the agreement’s terms are unclear. The company does have a larger-than-normal early termination fee, that requires merchants to pay 50% of their remaining contract upon terminating their accounts.
It is possible that Inovio sells its ecommerce solutions as integrated features of North American Bancard, which offers more leeway for the company to structure its merchants’ fees and contract terms.
Contract Length
Unknown
Early Termination Fee
50% of Remaining Contract
Most merchant customers will find that Inovio offers quick setup because they utilize virtual POS systems and payment gateways. It may take a little longer for third-party integration to take place with existing POS systems.
Their website mentions a dedicated email address for merchant customer support and the company also has a chat feature on their website that connects merchants with representatives virtually. Alternatively, merchants may call the company on the phone to get assistance as well.
BBB Rating
Inovio does not currently have a profile on the Better Business Bureau website. The company is not accredited by the BBB.
North American Bancard does have a BBB profile and it is an accredited business with an A+ rating. However, customers have given the company an average of 1.42 out of 5 stars, and there have been more than 100 complaints, some of which have not been resolved.
Other Online Reviews
Inovio does not have any public complaints listed online, and there are no negative reviews. The same is true for Argus Payments, which was previously the company’s name.
There are also no class action lawsuits that have been filed against Inovio as well as no FTC complaints.
BBB
N/A
N/A
No Reviews
Yelp
N/A
Total Online Reviews
Unknown
Total Online Complaints
Lawsuits
No
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