CHI Payment Systems Review: Fees, Complaints & Lawsuits

Low Complaint Total

We have located fewer than 10 negative CHI Payment Systems reviews, and the reviews we have found do not describe the company as a ripoff or a scam. Common issues cited by complainants include misrepresentation of rates, nondisclosure of fees, and poor customer service. Overall, the company’s complaint total is much lower than those of other iPayment companies, but this may simply be a function of its short time in business thus far. We have assigned it an “A” for the time being.

CHI Payment Solutions Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against CHI Payment Systems. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

CHI Payment Systems Customer Support Options

CHI Payment Systems offers phone and email support to its merchants, but it’s unknown whether these lines are serviced by CHI Payment Systems or by iPayment. In either case, merchants should not expect a level of service comparable to the top-rated payment processors for great customer service.

Declining Complaint Total

CHI Payment Systems currently has an “A+” rating with the Better Business Bureau and is not accredited. The company has received 3 complaints in the last 36 months. 1 complaint related to billing or collection and 2 were due to product or service issues. 0 complaints were successfully resolved. All 4 complaints were resolved to the dissatisfaction of the merchant or received no final response.

What Merchants Say

In addition to those 3 complaints, CHI also has 0 negative informal reviews on its BBB profile. It should be noted that these reviews are not subject to authentication by the BBB. A previous review described issues with chargebacks:

very bad customer service ,i have alot charges back ,i try call ,fax to them every thing they want but they don’t do any thing ,i lost money , i cancel services get another company better than them ,

Merchants can avoid these situations by learning how to fight chargebacks and win.

An “A” Performance

Given the company’s complaint total and resolution ratio over the past 36 months, we agree with the BBB’s rating of an “A.”

Variable Contract Terms

There is very little publicly available information about the standard CHI Payment Systems contract at this time. The company does not provide pricing specifics in its marketing materials except for the claim that it does not charge cancellation fees. Even though this is the only concrete information listed about CHI’s standard contract, it directly contradicts the terms of the standard iPayment contract. iPayment typically offers a three-year contract with an early termination fee that ranges from $250 to $350 and may include equipment leases through First Data Global Leasing.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, CHI Payment Systems also advertises its virtual terminal and payment gateway on its website. Pricing on either of those services is not disclosed. However, a standard iPayment contract offers a payment gateway through Authorize.Net. Typical rates under Authorize.Net’s payment gateway include rates of 2.90% plus $0.30 for transactions made through virtual terminals, a payment gateway fee of $25 per month, and a batch fee of $0.10.

Merchant-Reported Fees

According to merchant complaints filed through the Better Business Bureau, CHI Payment Systems imposes early termination fees in excess of $495 despite the companies claims to the contrary. Additionally, the company charges an annual fee of $159. It’s also possible that these fees could be higher or lower depending on which independent sales agent a merchant interacts with. Given the scant details available about the company’s pricing and its relationship with iPayment, we do not expect its pricing to compete with the cheapest merchant account providers.

We also encourage merchants to check out our list of the providers of thebest merchant accounts.

An Average Option for Most Business Types

CHI Payment Systems rates as an average merchant services provider according to our rating criteria. The company is showing a lower complaint rate than most iPayment resellers, but it appears to be fairly new to the industry, though it may already be out of business. In addition, the few contract terms that have been mentioned in merchant reviews are not especially competitive for the industry. Merchants are encouraged to request and review all documentation, and to compare the company’s pricing to that offered by top-rated credit card processors.