Hero Payments Overview

Hero Payments May Have Overcharged You

If you accepted credit cards through Hero Payments or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

Cannabis Payment Processing

Launched in March 2018, Hero Payments is a merchant account provider that primarily serves cannabis-related industries. The company claims to offer PIN debit payment solutions for marijuana vendors, but it may also provide CBD merchant accounts and hemp payment processing. The company markets itself as a solution to the various regulatory issues faced by companies in the cannabis industry. In addition to that focus, the company advertises that it also serves high risk merchants, though it does not expound upon which particular industries it may cater to.

Founded By Former Executives of Chyp and Merchant Club of America

The founding partners of Hero Payments are Mychol Robirds and Mathryn Eversole, who were previously employed as the former president of Chyp and president of business development of Merchant Club of America, respectively. Mychol Robirds also formerly served as the president of Securus Payments, and Mathryn Eversole is a former vice president of underwriting at Payment Systems Corporation. Taken as a whole, this group of processors includes some of the lowest-rated providers on CPO. Securus and Chyp, specifically, have received hundreds of complaints related to deceptive sales conduct and expensive contract terms.

Hero Payments Location and Ownership

Hero Payments does not disclose the name of its acquiring bank, but it was at one time a reseller of iPayment. It lists two addresses on its website and social media profiles: 1515 SW 5th Ave, Portland, Oregon 97201, and 1840 West Dr Suite #204, Vista, California, 92803. It is worth noting that Securus Payments and Chyp are both located in Portland. Mychol Robirds is the president of Hero Payments, and Mathryn Eversole is the company’s COO.

Hero Payments Review Table of Contents

  • Costs & Contract: Hero Payments offers variable contract terms that may include a long-term equipment lease.
  • Complaints & Service: Hero Payments has received fewer than 10 public complaints.
  • BBB Rating: Hero Payments does not have a profile with the Better Business Bureau at this time.
  • Sales & Marketing: Hero Payments appears to hire independent sales agents but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Hero Payments
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Products & Services Offered

  • Credit and PIN debit card processing
  • Online payment gateway
  • Mobile phone processing
  • Gift and loyalty programs
  • Inventory management

Types of Businesses Served

  • Retail
  • E-commerce
  • High risk
  • CBD
  • Marijuana

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Hero Payments Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%+
Keyed-In Rate 1.00% - 4.99%+
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms 48-month (locked)

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.

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Response from Hero Payments

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Hero Payments Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support No
Most Common Complaint N/A

No Public Complaints

We are unable to locate any negative Hero Payments reviews that accuse the company of being a ripoff or a scam. This is surprising considering the very high complaint totals for its affiliated companies. Hero Payments has only been active for a short period of time, so it may accumulate reviews as it continues to grow. For now, we will interpret its lack of merchant complaints as evidence that the company is operating ethically.

Hero Payments Lawsuits

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

Hero Payments Customer Support Options

Hero Payments does not provide a phone number or email address on its website. This falls short of the minimum level of service that we expect from top-rated payment processors for great customer service.

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Response from Hero Payments

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Hero Payments BBB Rating Summary

No Profile Available

The Better Business Bureau does not maintain a profile for Hero Payments at this time. A company named “Rate Lock” at the same address as Hero Payments does have a Better Business Bureau profile, but we are unable to determine whether Rate Lock is related to Hero Payments. We therefore will not factor a BBB rating into this review.

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Response from Hero Payments

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Inside/Outside Sales Team

Hero Payments appears to rely on a combination of in-house and external sales agents in order to market its services. The use of independent sales agents is commonly linked to elevated complaint rates, and it was a major factor behind the poor reputations of Securus and Chyp. However, we have not found any Hero Payments sales complaints that mention deceptive conduct or misrepresented fees. This may be related to the short amount of time that the company has been in business.

No Rate Quotes

The Hero Payments website does not list any rate quotes, promotions, or guarantees. It does advertise “No Leasing of Equipment“, which contradicts a post on the company’s Facebook page informing agents that “you can now offer equipment leasing to your customers.” If you suspect that a Hero Payments sales agent has misled you about your rates or equipment, you can double-check your monthly bill with a third-party statement audit.

Founded by Veterans

In addition to their previous executive roles in the merchant account industry, both Mychol Robirds and Mathryn Eversole are veterans of the United States Military. The Hero Payments name alludes to that, as well as dedicating a portion of its website to this facet of the company’s ownership, stating:

Hero Payments is a Veteran-owned merchant processing company providing low, medium, and high risk payment processing solutions for small, medium, and large businesses.

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Response from Hero Payments

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Hero Payments Logo

Our Opinion of Hero Payments

No Rating For Now

We are withholding a rating for Hero Payments at this time due to our concerns about its management history. The company enjoys a clean complaint record and does not obviously engage in deceptive tactics. However, merchants should be aware that we have not found detailed information about the company’s pricing and fees. We will continue to monitor the company and update this review as needed. For now, merchants should be sure to compare Hero Payments’s pricing to that offered by other top-rated high risk payment processors.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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