Best for
Merchants who want a new POS system and are okay with third-party processing
Specializes in
Merchant accounts, POS systems, cash advances, mobile processing, eCommerce solutions
Pricing Summary
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $350+
Contract Terms:
Securus Payments is now called GoChyp. It’s a provider of merchant accounts, POS systems, and eCommerce solutions. Merchants can use GoChyp to lease terminals and process a variety of payment types.
Securus Payments was a merchant account provider that was an ISO of First Data. However, Securus was sold to Chyp in 2019. Now, its products and services are sold under the name of GoChyp.
This company offers several merchant solutions, including POS systems and merchant accounts. However, most of what GoChyp offers comes from a third-party provider. The company uses First Data for its payment processing and POS systems from various other providers.
There isn’t much information about GoChyp’s rates available online. We know that the company offers merchants the option to choose between monthly plans and a four-year contract.
GoChyp has very few negative online reviews at this time. But the company did receive loads of poor feedback when it was named Securus Payments. Many of these negative reviews talked about deceptive sales practices and the non-disclosure of key contractual terms.
Head Quarters
Portland, Oregon
Year Founded
2009
CEO
Steven Lemma
Employees
160
Merchant Provider Risk Tolerance
Merchant Accounts
GoChyp is a retail ISO for eVance. Therefore, all of the company’s merchant account and processing solutions are done through eVance. However, eVance uses First Data’s platform for payment processing and merchant account services. So if you use GoChyp for your merchant account, you’re getting precisely the same product you would get from First Data but with a few stops in-between.
POS Systems
GoChyp offers merchants leases for POS hardware. They have several popular options available, including:
If you don’t want your hardware to be involved, you can also lease a basic terminal through GoChyp. The company will integrate basic terminals into your existing POS system, which is a nice service.
eCommerce Solutions
GoChyp specializes in POS solutions. But the company also has some eCommerce services available for merchants to use. It offers industry standards like payment gateways and virtual terminals. But many of these services are actually from third parties. So it’s not as though GoChyp has any special proprietary eCommerce solutions that stand out from what the rest of the market has to offer.
Discloses All Important Terms
No
Public Pricing Available
No
Unfortunately, GoChyp makes virtually no pricing information available on its website. The only way to really know what the company will charge you is to contact it directly. However, we do know that GoChyp offers both tiered and interchange-plus pricing options.
We also know that GoChyp charges a few different fees to its merchants. The company charges a statement fee that averages out to $2.50. The company also sometimes charges a monthly minimum account fee, a PCI fee, and a gateway fee. But the specific fees that you encounter will vary based on the third-party company that’s providing your service through GoChyp.
Pricing Model
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Undisclosed
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Undisclosed
Payment Gateway Fee
Batch Fee
Undisclosed
Early Termination Fee
$350+
PCI Compliance Fee
$80 Per Month
Equipment Lease Terms
48 Months (locked)
Address Verification Service (AVS)
Application Fee
None
Account Setup Fee
$0
Gateway Setup Fee
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
GoChyp gives merchants the choice of using either a month-to-month plan or a 4-year contract. Generally, your rates will be much higher if you decide to use the monthly plan. GoChyp doesn’t renew its contracts automatically but it does use early termination fees on clients who wish to exit their contracts early.
Contract Length
3 Years
Early Termination Fee
$350+
GoChyp currently has an A- rating with the Better Business Bureau. That’s about average for a company in the industry. There aren’t many negative complaints online about GoChyp, but that could be because the company’s name is relatively new.
There are lots of negative reviews online for Securus Payments. And since GoChyp uses many of the same practices, it’s likely that some of these complaints still ring true today. Securus Payments received lots of negative reviews for non-disclosure of key contractual terms and deceptive sales practices, among other things.
BBB
A- and is not BBB Accredited. (0 Reviews; 6 Complaints)
N/A
None
Yelp
1 Star / 14 Reviews
Total Online Reviews
150+
Total Online Complaints
80+
Lawsuits
None
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks