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Chyp (gochyp.com) is a new merchant account provider created by the owners of Securus Payments. See Chyp reviews and ratings from real users here

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Chyp Reviews

Chyp Overview

Chyp is a newly created merchant account provider that is owned and operated by the founders and executives of Securus Payments. The parent company of Securus Payments, Excel Corporation, sold nearly the entire operational apparatus of Securus Payments to Chyp in May 2016 yet retained Securus’s merchant portfolio. This means that Chyp has hired almost all of Securus’s 100 employees, operates out of the same location as Securus Payments, and is owned by the same people as Securus Payments. However, Excel Corporation (more specifically, a subsidiary of Excel Corporation called “eVance”) will service Securus’s existing merchant base moving forward. Chyp is essentially a new brand for the organization formerly known as Securus and is starting more or less from scratch to build a new client base. As part of the sale terms, Chyp has agreed to board new merchants with eVance for three years.

Chyp’s products and services include EMV-compliant credit card terminals, Clover POS, Lightspeed POS, NCR POS, POS Lavu, mobile phone processing, and merchant cash advance (“Chyp Capital”). The company offers phone and email support to its merchants, although it’s likely that these lines are serviced by eVance. Steven Lemma and Mychol Robirds, the founders of Securus Payments, are the owners of Chyp.

Chyp Logo

Chyp Logo

At a glance

Founded: 2016

Location: Portland, Oregon

Acquiring bank: Elavon, Inc., BMO Harris Bank, Merrick Bank

Website: gochyp.com

Phone number: 877-275-2497

E-mail: [email protected]

 

 

Online reputation and reviews

Chyp is a brand new company that hasn’t had much time to accumulate merchant reviews. However, there are at least four public comments on credit card processing industry websites warning merchants that Chyp is the same company as Securus Payments. Securus Payments has developed a negative reputation among merchants for deceptive sales practices, expensive equipment lease agreements, nondisclosure of fees, and poor customer service. Given that Chyp has inherited the same sales force and ownership team as Securus, it seems reasonable to expect that its policies and procedures will remain unchanged.

Legal actions and lawsuits

There are no outstanding or recently resolved legal actions related to Chyp at this time.

Have you used Chyp for your business? Rate the company at the top of this post and tell us about your experience in the comment section below:

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12 Comments

  1. Todd Lundgren June 5, 2017
    Reply

    The salesmen (Bob Lewis) that signed us up with CHYP was a smooth talking deceitful person. Promised savings but for sure we are paying more. Promised over night funds put in our account but now it is 2 days later. EVERY time I call CHYP I am put on hold for 10 minutes and then I hang up. A rotten deceitful company from what I have seen.

  2. P Sandoval March 18, 2017
    Reply

    I email [email protected] asking about the paper for my machine that I was told was included with chyp. [email protected] had sent me a case and [email protected] had been sending me for the last 5 months.
    I was told that Chyp never provided paper, that even thought I had been calling Chyp and talking to them and emailing chyp they didn’t really work for Chyp and were paying for paper out of their own pocket. They didn’t work for chyp but used chyp email and phone number. This is the most bull crap I’ve heard in years. Chris the so called customer service supervisor was the worst.

  3. Dan March 13, 2017
    Reply

    I was a little worried going to something new, with having to switch equipment and all. I know how hectic learning new things can be. This switch was a piece of cake. From the salesman coming in and gathering all my info. to me hooking up my own machine myself. I even called customer service the first day to see what it would be like getting help if needed; and someone answered my call right away and explained to me what to do if I’m ever in a pinch and need help right away. I’m very pleased with the way this company handled my switch over and there’s no way it could have been any easier. I’ve already recommended other business to Chyp.

  4. Toni Drugmand January 29, 2017
    Reply

    Do Not Believe what Chyp Tells you! We were promised lower rates, that we could cancel and that we would have 24 hour funding. None of which was true. I would NEVER trust them with handling my $ after our experience with them. Customer support is not user friendly nor professional We were jumped around from department to department, left messages and emails, promised reimbursements ( which we never received) for things we were never told we would be charged for. We had multiple names ( none of which were Chyp) making miscellaneous charges to our account. We had a monthly $69.00 charge for a machine that we HAD to have to in order for their processing to work and give us the lowest rates. Our 69.00 was actually 81.00. Every phone call was an excuse of why they were not able to get our 24 hour funding in place. ( We were in a different time zone, Our bank was not releasing the funds. We had to process by 2 pm in order to get 24 hour funding. ) They knew where we lived and our time zone when we singed up making it clear we were only doing it IF we could be guaranteed 24 hour funding, we called our bank and they were NOT holding back funds, in fact they could see that their bank had a release date for 2 days . Even at a 2 pm processing we did not get 24 hour funding. We were told by our salesmen that we would be able to cancel. Our sales rep also told us NOT to cancel our current processing company until Chyp was working correctly, consequently we paid for two processing companies during the time we were trying hard towork with CYP. . When I cancelled the service, Chyp stopped returning our calls all together. Chyp charged me 999.00 to cancel. Their contract to cancel came out under the name First Data, which was more confusing about who exactly we were dealing with. At the same time Ascentium the company that we had the machine from, a different company than CHYP, told us that we were locked into a 4 year contract for their machine. When we told them we were not able to use it because of Chyps inability to get our funding corrected. Ascentium told us that Chyp had been paid for the contract. They would not let us out of the contract because they had paid CHYP for it. Ascentium told us we could buy the machine out right for 3700.00 Over all what was supposed to save ended up COSTING us. I repeat that I would NEVER, EVER trust this company to handle my money. The amount of time we have spent trying to deal with them is ridiculous. PLEASE do not use this Company. It is a bad, unethical company that does NOT help your save with all kinds of misrepresent fees and costs, to who knows what other companies. .

  5. Toni January 8, 2017
    Reply

    CHYP has been a disaster and cost our small business a small fortune. , they have multi layers of companies within the company which makes things more confusing. Their Customer support is not fast, directs you from one department to another. There are hidden charges that have shown on our account….CHYP failed to provide us with 24 hour funding for 6 weeks which was critical to signing with them. In place of the 69.00 monthly fee the first month we were charged nearly 200…and to date – while the service WAS NOT working for us, we have been charged 500.00…In addition we will continue to be charged the leasing fee for a machine we did not keep as the service we needed was not provided. We cancelled our service which our contracts states we can AND we were still charged this month. The leasing company told us that they have paid Chyp for the machine they sold to us. We are being charged 81.00 per month for the machine from CHYP or we are told we can do a buy out for it for around 4000.00. CHYP has COST our small business ALOT of $$$$

  6. Toni January 7, 2017
    Reply

    Buyer Beware is right! We did sign and it has been a nightmare and cost us LOTS of $!! This is a new company, NOT a older well established company as we were led to beleive.

  7. Karen Andes November 14, 2016
    Reply

    Rip off! Sales person said I could cancel in 39 days if unhappy with service. I believed her. I was unhappy & was slapped with a $4000 penalty from Acentium Capital their finance company!
    The people from Chyp would not even consider negotiating me! And their service dudn’5 do half of what Square & 5 Stars did.

    • Toni Drugmand January 7, 2017
      Reply

      Agree, this is a BAD< BAD COMPANY!!! We were promised 24 hour funding and a fee of 69.00 per month besides normal processing fees. We did not get 24 hour funding for 6 weeks! In the mean time we paid two processing companies( our original until CHYP was working) and were told that we would be reimburse for the charges since we were not able to use our system . 69.00 somehow turned into 81.00 in addition to other charges that we were not told would occur. We have now been charged nearly 500.00! When we cancelled the service which we were told we could do at no charge, we were denied the reimbursement. customer service was NOT prompt. We left multiple messages and e-mails, my office coordinator has hours of time into sorting out this MESS! Further it is confusing because there are layers of companies within the company. Ascentium the company that owns the machine told us that CHYP had been paid for the machine and we had to pay them 81.00 per month, OR buy it out at 3700 even though it had never worked for us and we had cancelled with CHYP. THIS has cost my small struggling business a fortune. DO NOT USE THIS COMPANY! We returned our machine and we were told if we did not pay we were going to collections.

  8. aron November 3, 2016
    Reply

    Chyp is by far the worst experience i have had with a processor. They promise the world and give you nothing in return. Beware! If a chip salesman shows up at your door, slam it in his face.

  9. Chyp November 2, 2016
    Reply

    Hi Everyone,

    Chyp here. Wanted to start out by saying it wasn’t just a name change. The launch of Chyp is to come back to market, with the experiences, failures, successes and everything valuable we learned over the years of scaling and most importantly how to correctly service a customer/partner. Allowing Chyp to be a fantastic all around customer-centric cultured company, leaving our valuable clients with the best customer experience possible. We are proud to have a company that is a customer-centric focused platform for customers to save money and increasing technology inside their business environments. With our open communications it allows for lighting speed support providing only solutions to any issues that might arise.

    Regarding Securus: Securus worked diligently over the past year to improve their processes, sales training, customer follow-up after the sale, better service, and satisfaction. So much so that Securus now has an A- rating with the BBB! So the Securus Payments clients are in great hands! Securus Payments has over 6k happily involved processing merchants throughout the USA, processing over a billion dollars a year in payments volume through the Securus Payments platform. If there are Securus merchants that have issues/need help on here, please reach out to [email protected] or 866.649.1324 and they will help take care of your issues or be a friendly ear/voice for you. The support staff that manages the Securus Payments customer base is in Atlanta, GA and that team is outstanding!

    I hope that helps clarify everything.

    Chyp is here to answer any other questions and I look forward to Chyp’n away at the negative to show there is positive in this space!

    Happy Friday, make it great!!

    Chyp

  10. Ramon Delarosa October 21, 2016
    Reply

    I have used Chyp for 3 months now and have no complaints. The sales rep told me about the company history up front which I appreciated because I would have found out when doing my research. What your review site here does not say is that many of the untruthful employees that worked with Secures were let go when the owners took back control of the company. The rates and fees I was quoted reflect what I am being charged every month. The customer service is through BoomTown, not evance or whichever you stated. I would say to give these guys a try as I have only seen all that was promised and I am saving more than $200 from my other processor Heartland based on an avg of 11k a month..

  11. Jason Hilder July 25, 2016
    Reply

    Buyer Beware! Very personable sales force that will agree to not hold you with a contract, but they have to impose an equipment lease at $109.00 a month for 48 months. While there is no agreement to continue doing business with them you have to fulfill the lease. The rates they promise are actually lower than the interchange rates from the credit cards. I chose to not sign up so I do not have any other information to offer.

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