Blog

Category: credit card processor

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 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 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


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 19, 2019

Top 5 Mistakes When Choosing a Credit Card Processor

Choosing a credit card processor can be a confusing experience for many business owners. Not knowing what exactly your credit card processor does for you can make it more difficult to make informed decisions. Accepting credit card payments for what you sell is a smart business decision. Working with a credit card processor that has knowledge and understanding of your industry is also a smart business decision. The credit card processor your industry association recommends is a great place to start the vetting process and could help you avoid a few critical mistakes that many small- to medium-size businesses make...Read more


January 23, 2019

Signatures: Do You Need Them Or Not?

Earlier this year the four major credit card brands–Visa, MasterCard, American Express, and Discover–all made announcements that they would no longer require customers to sign for credit card transactions. The dollar amount didn’t matter anymore. You may remember that grocery stores stopped asking you sign for small purchases quite some time ago. But everywhere you use your card, from an airport parking lot to restaurants, you are still asked to sign the credit card slip, and you may wonder why. Here is some information about signatures. #1 – You Don’t Need a Signature The message was poorly delivered to merchants...Read more


January 16, 2019

A Credit Card Processing Glossary

You might hear terms like “issuing banks” or “acquiring banks” or abbreviations like “ISO” that all sound foreign to you. This simple glossary defines the role of each player in a transaction. We will begin by defining your role in the process.  The Merchant The merchant is the business owner or establishment that accepts credit, debit, and prepaid cards. The business owner uses a POS (point-of-sale) system or credit card terminal to accept the form of payment presented by the customer. The merchants independently decide which type of credit cards they will accept and which credit card processor they will...Read more


January 9, 2019

Harnessing Technology for Business

In the past, business orders of all kinds were written down on a piece of paper and that piece of paper became the transaction record. In restaurants, it was typical to add up all the handwritten order totals and match it to the cash collected in the cash register. Today, the technology offered to merchants includes mobile apps and websites for ordering and smart Point-of-Sale systems that manage sales, inventory, scheduling, payroll, and credit card processing. These tools are important considerations for managing your business. A credit card processor like Chosen Payments can help you decide which technology platforms might...Read more

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