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October 3, 2018

Downgraded Transaction

downgraded transaction

What is a Downgraded Transaction A “downgraded” transaction actually costs you more money to process than it should have. Downgrades are completely avoidable if you know how to catch them. We will share at least three areas that can save you money on your transactions. While we may be talking pennies on the dollar, those pennies add up over the course of the year and can easily amount to a steak dinner for two.   How a downgrades works Every time you process a debit or credit card, the transaction is assigned an Interchange category with its own rate and...Read more


September 28, 2018

Friday Fun Facts

friday fun facts

Passenger Takes Over for Drunk Uber Driver An Uber passenger recently ended up driving himself home when he discovered his Uber driver was drunk. Surya Oruganti claimed he ordered an Uber for an airport pickup. The driver was “drunk and drowsy” so he moved the driver to the passenger seat, documenting the incident with video and photos shared on Twitter. Uber says, “Upon learning about this incident, the driver profile was removed from the app and we are looking into the matter.”   Uber Driver Sues Buccaneers Quarterback An Arizona Uber driver is suing Tampa Bay Buccaneers quarterback Jameis Winston....Read more


September 26, 2018

Accepting Credit Card Numbers by Phone

credit card

Accepting credit cards by phone is risky business to begin with. Almost all fraud involves taking a credit card by phone. Unfortunately, accepting credit cards over the phone is a common practice so we must recognize the risks associated from your point as a vendor as well as the risk to your customer.   Safety First Fraud isn’t the only risk from a phone order. Never accept a credit card from someone when you know they are driving a vehicle. Ask them to call you back when they are no longer driving. The sound of metal crunching is an awful...Read more


September 21, 2018

Friday Fun Facts

Friday Fun Facts

Star Football Player is also Homecoming Queen Kaylee Foster was crowned Homecoming Queen of Ocean Springs High School in Ocean Springs, Mississippi. This was just before she took to the football field and won the homecoming game for her team by kicking two field goals. One of them won the game. The high school senior has been a placekicker since middle school. When asked whether she was more nervous before the homecoming queen announcement or before she made the kick, Foster said, “I was pretty sure I wasn’t going to be homecoming queen, but I was pretty sure I was...Read more


September 19, 2018

Bank Accounts and Credit Card Processing

credit cards

Have you ever wondered why you were asked to provide a blank voided check to establish your Merchant Account with Chosen Payments? Has your bank account balance ever been cause for a review? There is good reason for the specific type of bank accounts used in processing credit cards. The balance you carry in your bank account is periodically reviewed with good reason. And, there is a reason why the money from your Merchant Account cannot be deposited into a Savings Account.   The Blank Voided Check You may wonder why we were insistent on getting a blank voided check...Read more


September 14, 2018

Fun Funeral Facts

Across the world, funeral traditions vary from region to region. Today, we’ve decided to showcase a few of them: 60-Year Unearthing A law passed in South Korea in 2000 requires anyone burying a loved one to remove the grave after 60 years! That’s due to dwindling graveyard space. Because of this law, cremation has become much more popular. The twist is, why have ashes when you can have cremains turned into gem-like beads in turquoise, pink or black and then display these “death beads” around your house. The New Orleans Jazz Funeral In New Orleans, boisterous, jazz-tinged funeral processions blend...Read more


September 12, 2018

Merchant Cash Advance – Need Money Fast?

credit card

Whether you need a quick loan for an emergency situation or you just can’t pass up a once-in-a-lifetime opportunity to buy something, Chosen Payments can loan you money quickly through a Merchant Cash Advance. These are also known as Merchant Loans. Either way, we are loaning you money based upon projected credit card transactions in the future. Whether you need to borrow $1,000 or $100,000, Chosen Payments can advance money for your business and fund your loan much faster than a traditional bank. While your personal credit is a consideration, we don’t place as much value on a personal credit...Read more


September 7, 2018

Labor Day Weekend Fun Facts

labor day

We worked one less day this week due to Labor Day. The national holiday was first celebrated in 1882 as a way to recognize the American workers. As Memorial Day unofficially marks the beginning of summer, Labor Day unofficially marks the end of summer. Here are some other facts about Labor Day and American workers: 1894 – Congress makes Labor Day a National Holiday 1950 – 40% of all American workers were part of a union. In 2017 a mere 11% belonged to a union. Top 5 – Most popular destinations to spend Labor Day are New York City, Las...Read more


September 5, 2018

Credit Card Processing for Auto Repair Shops

credit card

Chosen Payments is a preferred credit card processor of ATRA (Automatic Transmission Rebuilders Association). We earned this status by having years of serving the automotive industry and having staff with years of experience working in the automotive industry. Hiring experts with experience in the vertical industries we serve allows us to provide our famed White Glove Service by having the knowledge of the unique needs are of auto repair shops. Because we serve many auto repair shops across the country, we know what is important, what should be important and what shop owners are missing when shopping for a credit...Read more


August 29, 2018

About Venmo and Privacy

venmo

You may remember last week that Chosen Payments shared information with you about the risk of using peer-to-peer networks such as Venmo for making payments. We strongly suggested that you know who you are exchanging money with because each transaction carries a significant risk that is much greater than simply using or accepting credit cards. While the cost of using a company like Square to accept credit cards is significantly higher than using a traditional processor like Chosen Payments, the transaction is much more secure and private and virtually anyone can accept credit cards using an aggregator. Venmo not only...Read more