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Category: credit card processor

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


December 26, 2018

So Many Credit Card Terminals – The Right One for My Business

There are so many credit card terminals on the market today that you may wonder which one is the best for your business. Use this guide to learn about brands, features, and compatibility. The Best Terminal for Small Business The best terminal depends on your needs and budget. Most credit card processors have access to all of the popular brands. You can buy, lease, or rent from your processor, or you can buy directly online as long as the terminal is compatible with your processor. Make sure you check the model with your processor BEFORE you buy online. You may...Read more


December 5, 2018

The Secret Service Cracks Down on Credit Card Skimmers

When you think about the Secret Service of the United States, you probably think of them as the security protectors of our president and other elected officials. You probably don’t associate them with being a defender of credit card fraud. Yet that is one of their additional functions. Specifically, the United States Secret Service went into high gear over the Thanksgiving weekend to target a specific kind of credit card thief: the skimmer. A skimmer is a device that is placed into legitimate credit card readers to capture the data of the card being used for a legitimate payment. The...Read more


October 17, 2018

Top Trends Driving the Future of Payment Processing

Future of Payment Processing

The payment processing industry has changed over the last years, and it will continue to do so even faster in the future, considering the constant change in the customers’ behavior and habits, plus the rise of mobile payment platforms. Technology has reinvented commerce, and it opened doors to new ways of engaging with customers. The universe of payments is continuously evolving. A significant number of changes have shaped the payment industry in 2018. The question is: is your business prepared for the future? The more you know today, the more you can prepare for tomorrow. Here are some of the...Read more


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 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 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