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April 24, 2019

What’s Your Relationship With Your Processor?

As business operators, you likely interact with many vendors who are supplying your goods or services. Vendors you interact with include sales reps, customer relationship managers, and even your neighborhood UPS or FedEx driver who probably visits your office regularly. We even take time to get to know our pest control professional who visits the office monthly or quarterly. But what is your relationship with your credit card processor? Many people take the attitude that their credit card processor is out there doing their thing and there isn’t really any reason to have a relationship with them. In fact, one...Read more


April 18, 2019

Where Do My Fees Go?

Many merchants incorrectly believe that all the fees they pay go to their credit card processor. If that were the case, there would probably be a lot more credit card processors out there today! The truth is, your processor keeps a very tiny portion of the transactions. It’s important to have a clear understanding of how those fees work, what they do for you, and how you can avoid additional fees. Here’s how fees are calculated for most merchant accounts. The transaction begins the moment your customer swipes, taps, keys, or inserts their credit or debit card to pay you...Read more


April 10, 2019

Confronting Chargebacks

Notice of Chargeback This notice is always disheartening for a merchant to receive. Your hard-earned profits are sucked out of your bank account with no opportunity to explain your side before the money is removed. If you take too long to respond, you could lose the dispute simply for not responding in time. If you fail to respond at all, it can be considered a black mark against your business. If you are new to accepting credit cards or have just been lucky enough to have never received one, here’s what a chargeback is: a claim levied against a merchant...Read more


April 3, 2019

Selecting a Credit Card Processor

In the world of plastic we live in, it’s necessary to accept credit and debit cards to succeed in business. Customers are used to using their cards in person, online, or by phone, so merchants who don’t accept a credit or debit card for payment are a turn-off to most consumers. In a sea of credit card processors, how do you find the right one for you? The most logical place to start is by asking your trade association whom they recommend, endorse, or partner with. Support a processor that supports your industry. Do your due diligence before signing on...Read more


March 27, 2019

On the Road Again

Many people comment about how often we at Chosen Payments travel, why we do it, and whether we like it. We LOVE it. We love delivering the Chosen Payments message and spirit. As a company dedicated to very specific industries, we love sharing meals with our clients across the country. We love delivering educational sessions at trade shows teaching people how to slash their credit card processing fees, regardless of who their processor is. Today, we are packing up from the International Luxury Coach and Transportation Show, the world’s largest ground transportation show. We were proud to once again be...Read more


March 20, 2019

Watch Out For Credit Card Skimmers

Credit card skimming has become big business. As a merchant, you have an obligation to protect all credit card data entrusted to you. This includes safeguarding and monitoring your credit card equipment and online processing. The latest trend is for thieves to install micro cameras, allowing the thief to easily see the PIN code being entered into a keypad of an ATM or another electronic payment point. With this in mind, here’s what you should be looking for as a merchant as well as being a consumer. It really only takes a quick inspection to look for things that might...Read more


March 13, 2019

Passing on the Cost of Accepting Credit Cards to Customers

We get a lot of questions about whether merchants should pass on credit card processing fees to customers. Is it legal? How much should I charge? Should I charge at all? We wish that there was one single answer that would fit every Chosen Payments merchant. But the truth is, this decision is complicated and merchants must make choices based on their individual businesses. In many cases, passing charges on just doesn’t sit well with customers. If your favorite local grocery store implemented a surcharge for using a credit card, would you continue to shop there? Here are some general...Read more


March 6, 2019

Staying on Top of New Payment Technologies

With big brand names like Sears, Toys ‘R’ Us, and Payless Shoe Source turning the lights off for good, now is the time for retail businesses to wake up and take note: times are changing. Companies like Macy’s, J.C. Penney, and Victoria’s Secret are all in deep trouble. The brick and mortar stores of America are clearly down trending, and the number one reason for the decline is the convenience of shopping from home. Whether we have become a lazy society or smarter shoppers is debatable. One thing that is not debatable is that we have become a cashless society,...Read more


February 27, 2019

Why Do Credit Card Processors Ask for Your Social Security Number?

With identify theft on the rise, people are guarding their Social Security Numbers and personal information more closely than ever. Being asked to provide a Social Security Number raises a red flag and certainly a fear of how the Social Security Number might be used and how it will be protected. While processing the applications of hundreds of new merchants in any given month, Chosen Payments routinely asks new merchants to provide their Social Security Number and their home address. While we certainly understand the reluctance of people who don’t want to provide this very personal information, the request is...Read more


February 20, 2019

Valentine’s Day: Did You Cash In or Cash Out?

Last week we observed Valentine’s Day. Perhaps you celebrated because your business is doing well. Maybe you celebrated because you had someone to shower with candy and flowers. Either way, a lot of money changes hands on this 600-year-old novelty holiday. Americans spent a whopping $30 billion dollars celebrating the day of love. The biggest benefactors of Valentine’s Day are merchants. Many of these merchants are in specific industries that Chosen Payments services. This includes restaurants, bars, jewelry stores, limo services, hotels, and pet supply companies. You read that right: 3% of Americans by Valentine’s gifts for their pets. Of...Read more

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