RedFynn Overview

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Formerly Known as Sphyra

RedFynn Technologies ( is a Tempe, Arizona-based merchant account provider that appears to function as either a subsidiary or a DBA of iPayment (now Paysafe). A commenter below this review has explained that RedFynn was created in 2014 as a rebranding of Sphyra following government action taken against Sphyra. This commenter’s claim is supported by the fact that four former managers or executive-level employees of Sphyra (Shane Hurley, Sydney Adams, Rebecca Jensen, and Becky Strantz) have held similar roles at RedFynn.

RedFynn Location and Ownership

RedFynn is a registered ISO of Merrick Bank, Woodbury, New York. The Better Business Bureau lists iPayment’s P.O. Box in Thousand Oaks, California, as the company’s address, but the RedFynn LinkedIn profile lists an address at 960 W Elliot Rd, Suite 112, Tempe, Arizona 85284. Shane Hurley is the head of vision and growth at RedFynn.

RedFynn Review Table of Contents

  • Sales & Marketing: RedFynn does not engage in misleading sales tactics and has not received complaints about its sales team.
  • Costs & Contract: RedFynn appears to offer a three-year contract through iPayment with interchange-plus pricing and a $350 early termination fee.
  • Complaints & Service: RedFynn has received fewer than 10 public complaints.
  • BBB Rating: RedFynn has an “A+” rating with the Better Business Bureau and has not received any complaints in the past three years.
  • Rates & Fees: How Merchants Got The Best Rates With RedFynn

RedFynn Statement Analyzer

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Products & Services Offered

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • MOTO

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RedFynn Rates, Fees, and Costs

Key Points

Swiped Rate Interchange + 0.5% + $0.10
Keyed-in Rate Interchange + 0.5% + $0.10
Early Termination Fee $250-$350
PCI Compliance Fee Variable
Equipment Lease Terms Variable

Three-Year Contract

The standard RedFynn contract (available below) appears to simply be an iPayment contract, which includes a three-year agreement with automatic renewal for one-year terms and an early termination fee of either $250 or $350. The document below does not include any specific rate quotes, monthly minimum fees, PCI compliance fees, or other regular fees charged by RedFynn, but iPayment and its subsidiaries have been known to charge all of these fees in varying amounts. The RedFynn website has previously quoted an interchange-plus rate of interchange plus 0.5% plus $0.10 for retail merchants, but it is unclear whether this rate applies to all merchants.

Few Contract Complaints

We have found only two RedFynn complaints at this time that are related to the company’s contract terms or pricing. One complaint specifically mentions the company’s early termination fee and the other mentions monthly fees of $5.99 and $29.99. Given the fact that these are the only complaint we’ve found, we will favorably assume that the company outperforms other iPayment-operated providers when it comes to pricing. However, the three-year term with a large cancellation fee prevents RedFynn from competing with the cheapest merchant accounts. See the RedFynn Program Guide.

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Response from RedFynn

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RedFynn Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Low Complaint Total

We are currently able to locate a handful of negative RedFynn reviews, none of which explicitly accuse the company of being a scam. Complainants cite poor customer service, withheld funds, sudden account cancellation (with a $350 fee), and concerns over the company’s history. In general, there do not appear to be any major issues at RedFynn, although most complaints mention a problem with customer service. RedFynn has thus far improved on the reputations of both iPayment and Sphyra by keeping its complaint volume at a reasonable level. Accordingly, the company still maintains an “A” in this category.

RedFynn Support Options

RedFynn offers phone and email support to all of its merchants. This is a level of support we expect of top-rated merchant accounts for great customer service, and it may have something to do with RedFynn’s surprisingly low complaint count.

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Response from RedFynn

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RedFynn BBB Rating Summary

Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Clean Complaint Record

RedFynn has been accredited with the Better Business Bureau since June 2014 and currently maintains an “A+” rating. The company has not received any complaints in the past 36 months. RedFynn has also received 19 informal positive reviews on its BBB profile, but it should be noted that these reviews are not subject to verification by the BBB.

An “A” Performance

Given the company’s clean complaint record, we agree with the BBB’s rating in this instance. However, merchants should be aware that there are reasons to be skeptical of BBB ratings in general.

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Response from RedFynn

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Truth In Marketing & Advertising

Key Points

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

Distributed Sales Team

RedFynn appears to hire account executives all over the country, which is a reliable indicator that the company employs independent sales agents to market its services. This hiring practice is also consistent with that utilized by iPayment, and it tends to result in a high number of complaints for the companies that use it. In this case, however, we have located only a few negative RedFynn reviews that accuse the company’s sales staff of nondisclosure or misrepresentation of rates and fees. RedFynn provides its program guide on its website for the public to review, and the company’s membership with the Direct Selling Association indicates at least a surface-level commitment to honest sales tactics.

Stolen Dharma Pricing Table

At the time of our last update, the RedFynn website included a page that outlined the company’s pricing for retail businesses. Inexplicably, this page featured a pricing table that appeared to have been directly lifted from the Dharma Merchant Services website and then duplicated with RedFynn’s own pricing in place of Dharma’s. Even more bizarrely, RedFynn’s interchange-plus rate was shown to be higher than Dharma’s, as were the total costs for RedFynn merchants. This advertising decision seems strange enough that it may have been an error, but it does at least reveal that RedFynn typically pushes interchange-plus, the most transparent pricing model available. That having been said, RedFynn’s website itself made the case that merchants can save 0.25% per transaction by using Dharma.

Smoke, But No Fire

Although the company’s affiliations with Sphyra and iPayment are discouraging signs with regard to its sales practices, we will award RedFynn an “A” in this category to reflect the general lack of complaints that it has received to date. If you suspect that RedFynn has added undisclosed fees to your contract, we recommend seeking a third-party statement audit to find and eliminate hidden fees.

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Response from RedFynn

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RedFynn Marketing Example

RedFynn Logo

Our Opinion of RedFynn

A Processor That Outperforms Its Pedigree

RedFynn rates as a better-than-average merchant services provider according to our rating criteria. After roughly four years of operation, the company seems to have avoided many of the factors that diminished the reputations of Sphyra and iPayment within the industry. RedFynn has generally avoided severe complaints, but it appears to offer industry-standard contract terms. We will continue to monitor merchant feedback about this company very carefully and adjust our rating as necessary. Merchants are always encouraged to compare RedFynn’s pricing to that offered by top-rated credit card processors.

We rely on your feedback about RedFynn to keep this review accurate and up-to-date. Please take a minute to tell us about your experience. We and the small business owners of this world thank you!

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

My Qualifications

I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so decided to build this website to help you research which providers to use and how to save money on rates and fees. 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 here. Simply scroll to the top of the page to find the search bar. You can also message me if you need any guidance.

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12 Reviews Leave Your Review for RedFynn Below

  1. Susan Fraser says:

    Beware! My rates double over the course of one year. There was a monthly fee of 5.99 for something. Another monthly fee of 29.99 for something else. In all, they were taking over 6%. And THEN – they somehow snuck a supposed contract of 3 years in there when they sent me a new machine I supposedly had to have so now I have to pay yet ANOTHER fee of $250 to get rid of this!

  2. Former Employee says:

    As a former employee of RedFynn all I have to say is STAY AWAY! This company changes it’s name every few years after getting a bad reputation for bad business dealings, and unlawful acts. RedFynn was started after the Federal Trade Commission mandated that CEO Shane Hurley not acquire any new customers for his then named company Sphyra. The actual name “RedFynn” was a branding joke claiming that they, the CEO and top executives were “sharks”…ready to gobble up new small business owners.

  3. Kristin says:

    Thank you for the information you have available. I was looking for info on a company called Redfynn. I am having a very unusual time with them in that if they mess up and it requires too much attention on the part of the young staff to resolve, they will dismiss you or dump you, such as hands on ears la la la la la la! Do you have any info on this company? I don’t seem to find anything other than publicity stuff, which can always be created. Do you have any knowledge of the history and dependability of this company?

    1. CPO Admin says:

      Hi Kristin,

      We have moved your comment to our Redfynn review, where you can see the most up-to-date information that we have about the company.

  4. Nicholas Coscia says:

    I needed to quickly raise my limits as my customer base is growing quickly and and requiring the clearance of markedly larger charges. I was getting the runaround from my own existing gateway and several other prospects when I met Elton and the RedFynn crew. Within ten days Underwriting reviewed my previous merchant history and financial statements and approved me with a significant per transaction limit. Two days later my first charge for $US 5,00.00 went through without a wrinkle. While our relationship is at an early stage, I can say that the responses I have received from this organization have been prompt and professional

    1. CPO Admin says:

      Hi Nicholas,

      Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

      1. Nicholas F. Coscia, Esq. Attorney at Law says:

        as requested

  5. Roy Parkes says:

    RedFynn is the new entity name for what used to be called Sphyra, and dba Merchant Services Direct.
    Mike Collins was head of MSD/Sphyra in Colorado, and made Vice President of Sales in 2013. See;

    Mr Collins now claims to have been working at “RedFynn Technologies” during his tenure at Sphyra/MSD.

    The name “RedFynn” was substituted for the previous names following the FTC/AG judgment against them.
    That is why no record can be found of that name active prior to 2014 while its internal history claims it
    was active many years prior contemporaneous with the MSD history.

    It is not known if control of RedFynn shifted/sold from Shane Hurley, Pres of MSD, to IPayment CEO at some time,
    by this writer, or if there were any other intervening changes of control til this date.

  6. I have a major complaint that reinforces the negative complaint you have identified above. We were pressured to move into a more high tech piece of equipment when support, on our side, was not available. Your folks send me two incorrect tests. There supervisor noted the mistake and sent another in the mail that was for my system. “test” was returned, call to get equipment transitioned over was done. Rebates were in process and to be applied some months ago and never appeared. I left town and shut down the usage for 30 days. Returned and found a bill of $20 due and my system turned off. I called and was rudely greeted for the second time a young lady that I had written an extended complaint on. Her supervisor and I spoke and I decided to back out of the complaint. I was given a new account tech and at that time was given a second test, incorrect, and then escalated to her supervisor who informed me it was the wrong test. Fast forward to present and said I needed to get my refund and equipment turned on. I was handed off the initially rude young lady I worked with and she argued with me about what she thought happened vs what I had happen to me. I asked to speak with her supervisor. I waited 10 minutes to speak with her supervisor and was unfortunately greeted by the same rude young lady who said her supervisor would not talk with me, that they had done enough for me and to go find someplace else. Now, a pile of charges to process, lost revenue and refunds still not submitted. I have not had a good experience with these folks for 1 year now. too many new people, most are young and poorly trained and educated on their system. I sure wish some one would respond to the complaint letter I sent to the legal depart 2+ weeks ago. I don’t think they are an A+ company.

    1. Over the years we’ve spent significant time in resolving this customer’s issues with her account. According to our records, we have made every possible effort to assist this customer in resolving any and all issues she has had with our services; including calling her directly and reminding her numerous times to return the required paperwork to close her old account, after the owner change. As for the new equipment, the banking industry is requiring merchants to have EMV compliant equipment in order to protect the security of cardholders. We apologize if our attempts to assist her with this upgrade were not well received.

      Although we previously refunded her $30 for one month of PCINA, after a thorough review of her account, we agreed as a courtesy to provide three months PCINA refunds. We issued a 2nd refund in the amount of $60 on 8/10, for two additional months PCINA fees. As with any merchant services company, we have a cancellation process consisting of the client submitting a signed cancellation form. Refusing to pay the month-end fees is not the proper way to seasonally close an account. Therefore, she was assessed the monthly fees on her account, as she had been for years prior. When the funds were not in her account, she was shut down by our processing bank for none payment.
      Pursuant to the documented email sent to her on 7/21, we were very cordial in our communication, making it clear we no longer wish to provide services for her merchant account needs. We have every right to deny services to any customers, whom we feel are best suited elsewhere. Our contract was terminated when her payment bounced, and we recommended she immediately find a different processor. Due to her low volume in processing, we referred her to a different company specializing in lower processing businesses.

  7. John Hood says:

    Redfynn/iPayments is definitely a set up. Because of incorrect setting to my account my cart was unable to communicate with the payment gateway for an entire month. Once this issue was resolved I complained about the incompetence of the support agent named Clayton. Two days later my account was closed because of excessive declines? How does this make sense? They caused the declines themselves! After this, I cancelled the account and requested a refund. No one responded but my account was debited for $350 the very next day for early cancellation fees? This can not possibly be legal. This company needs to be investigated immediately. I strongly advise anyone considering using Redfynn or iPayment Inc as a CC processor to please think again.

    1. On August 5th, 2015 we resolved a more detailed complaint submitted by Mr. Hood to RedFynn. This matter is a bit more complicated than as it appears from Mr. Hoods review. Between April 29 and June 2nd, 2015, the merchant had nine failed customer transactions and only two approved customer transactions. None of these declines were due to a payment gateway malfunction. If his shopping cart failed to authenticate (wrong username or password), then failed transactions would not populate on the payment gateway. The nine failed transactions were declined due to bad/invalid cards.

      Mr. Hood’s account was closed, by our bank, based on his account history, and we are bound by that decision. We do understand Mr. Hood had a website configuration issue affecting his ability to process when his account first opened. We also understand he does not control the traffic he receives on his site, but two, out of eleven, successful transactions between April 29 and June 2nd, 2015 is a valid cause for the bank’s closure decision. We wish there were more we could do for this client. Unfortunately, the client is still under the impression most of the issues with his failed transactions are the fault of RedFynn. However, according to our investigation, we have determined the closure was due to his actual poor processing history and not the system setup or RedFynn operations.

      In regard to the $350 ETF, this was charged per the merchant processing agreement he signed. The contract terms were confirmed a second time with Mr. Hood during the quality control call before his merchant account application was submitted to underwriting for approval. However, in light of the bank closing down his account, we requested the bank submit a refund for the $350 ETF. The refund was not processed because his bank declined the original $350 charge to his account. Mr. Hood did not pay the ETF fee.

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