Securus Payments Overview
Rebranded as Chyp
Securus Payments is a Portland, Oregon-based merchant account provider that appears to be an ISO of First Data. Launched in 2009, the company shares ownership with the now-defunct Portland company Payprotec, which was the subject of a warning issued by the Better Business Bureau in 2013. In 2014, both Payprotec and Securus were acquired by Excel Corporation (now OLB Group), and it appears that the Payprotec brand was retired while the Securus brand remained active. However, following that acquisition, the founders of Securus left the company to start another, named Chyp. The newly formed company then purchased Securus Payments back from the Excel Corporation and rebranded it as Chyp.
Securus Payments Location and Ownership
Securus Payments was located at 7724 SE Aspen Summit Dr., Suite 300, Portland, Oregon and was a registered ISO/MSP of Wells Fargo Bank, N.A. in Walnut Creek, California before being sold to Chyp. Steven Lemma is listed as the founder and CEO of both Payprotec and Securus Payments.
- Sales & Marketing: Securus Payments hires independent sales agents and has received a moderate-to-high number of complaints about its sales practices.
- Costs & Contract: Securus Payments offers a three-year contract with an early termination fee of $495.
- Complaints & Service: Securus Payments has received more than 80 public complaints.
- BBB Rating: Securus Payments (as Excel Corporation) has an “A+” rating with the Better Business Bureau and has received 7complaints in the last 3 years.
- Rates & Fees: How Merchants Got The Best Rates With Securus Payments
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