Variable Contract Terms
Hero Payments does not disclose its pricing to the public, and there are no complaints that mention specific rates or fees charged by the company. As a high risk payment processor, it’s likely that the company’s contract terms and pricing will vary dramatically depending on each merchant’s business type, location, and processing history. The company’s PIN debit merchants will likely pay low rates due to the comparatively lower cost of debit transactions. Hero Payments does lease credit card processing equipment, so it’s possible that agents can set their own pricing for long-term equipment leases. Merchants are advised to purchase their own equipment whenever possible to avoid getting locked into long-term, non-cancellable equipment leases.
High Risk Means High Fees
High risk merchants who sign up with Hero Payments should expect to pay higher-than-average fees, and they may also be subject to cash reserves on their accounts. This is standard practice within the industry due to the elevated risk of chargebacks posed by many high risk merchants. High risk merchants can reduce their risk of fund holds and chargebacks by being open and transparent with Hero Payments about their business type and product lineup from the start.
No Pricing Complaints
We cannot find any Hero Payments complaints related to the company’s pricing. The company’s close ties to Chyp suggest that its standard pricing will not be competitive. It is possible that Hero Payments offers a wide range of potential contract types, so merchants should understand how to spot undesirable terms in their contract.
