Blog

Category: Merchant Business Tips

June 26, 2018

Is Your Credit Card Terminal a Cash Drain?

credit card

Many new business owners make the mistake of either leasing a credit card terminal or renting on a monthly basis. When faced with the costs of opening a business, the thought of spending another $300 for a credit card machine can be daunting. However, when presented as a rental or lease with payments “as low as $20” a month, it can seem quite attractive. It can be especially attractive when you forecast running $50,000 a month on the machine.  What’s $20?   However, at the end of 15 months, you have paid for the machine’s cost. Most merchants never look...Read more


May 16, 2018

The History of the Discover Card

card

Today we conclude the series of the history of the Top 4 credit cards in America.  We conclude with the smallest of card brands, Discover Card. The Discover Card was actually launched by Sears. This is significant to know because Sears was a pioneer in consumer credit when it launched its own Sears Roebuck charge accounts in 1911, years before the credit card industry itself was born.  Except that you could only use your Sears card at Sears to buy things from Sears. In 1985 Discover was launched with no annual fee and offered a higher-than-normal credit limit.  This were...Read more


March 7, 2018

Loren needs a kidney

Hello friends and clients: Loren Kiblinger is a Customer Relationship Manager for Chosen Payments.  She may have helped you with a chargeback or processing issue in the past. Loren was diagnosed with chronic kidney disease, the cause of which remains unclear. Since the initial diagnosis, her kidney function has continued to deteriorate, to a point where her kidneys can no longer adequately support her body. This is known as kidney failure (End-Stage-Renal-Disease) and there are only two available treatment options (1) kidney transplant, or (2) spend the rest of her life on dialysis. A transplant will offer Loren the best...Read more


February 28, 2018

Does Your Credit Card Processor Help Your Business?

credit card processors

There are credit card processors and there is Chosen Payments, Your Partner in Success.  While most credit card processors simply process your transactions and take your money, Chosen Payments is committed to your success.  That means promoting your business, supporting your business and participating in the growth of your business. We take our profits and reinvest them into the growth of your business.  Whether you operate a limousine company, a jewelry store, a hotel, a funeral home or another  type of business in our vertical specialties, you will find us supporting you by not only attending your trade shows –...Read more


November 29, 2017

Are You Doing eCommerce Right?

eCommerce

If your company is not involved in eCommerce yet, you are really lagging behind.  This past Monday was Cyber Monday.  It has become known as the best day for online shopping and this past Monday saw the largest volume of single day online shopping since the internet was born in 1990. eCommerce is rapidly becoming the preferred business channel by consumers.  This is most evident in the fact that “Black Friday” was a dismal disaster for most retailers this year.  The long lines to get in the store, camping out, mad dashes through the store to get a coveted item...Read more


October 25, 2017

Credit Card Backup Guarantees

credit card

Last week we discussed why small businesses should simply process credit cards at the time service is rendered rather than invoicing a client and waiting for your payment at a time that is convenient to your client.  Sure, there is a fee to pay for processing a credit card but many businesses offer a 2% discount on an invoice paid before a certain date anyway.  While you might not offer a discount for early payments on invoices, you will end up spending more than the cost of processing a credit card in the long run if you choose to invoice....Read more


October 18, 2017

Invoicing vs. Credit Card Payments

credit card

We have been contacted recently by two of our merchants who have expressed concerns about when they should process a “backup guarantee”.  A backup guarantee credit card is a credit card left on file with the agreement that if an invoiced account becomes delinquent, the credit card on file as a backup will be charged.  Why not just charge the credit card at the time services are rendered? Why You Should Not Invoice The fact is, most Chosen Payments merchants operate small to medium sized businesses.  Inc. Magazine characterizes 99.7% of all businesses in America as a small businesses.  Small...Read more


September 20, 2017

Calling In A “Code 10”

code 10

Do you know what a “Code 10” is?  This is perhaps the most underutilized tool for fraud prevention.  You’ve probably taken a phone order before and felt like something just wasn’t quite right.  Or, maybe you are retail merchant and the customer was standing right in front of you.  If it doesn’t feel right, it is considered a “Code 10” or suspicious transaction.  Using a code word allows you to call a special merchant hotline right in front of the customer without alerting the customer to the purpose of your call. What Is A Code 10 Authorization Request? A merchant...Read more


September 13, 2017

PCI DSS 3.2 – Important January 31, 2018 Deadline & Clarifications

pci compliance

Technical changes to PCI Compliance are coming in the near future.  This document is intended to be shared with your network administrators, software providers or hardware vendors.  While it is very technical, experienced network managers will understand the terms used to keep your client’s data safe.  In most cases, your software provider will make sure that you adhere to PCI Compliance standards.  However, if you don’t use a commercial software application, this information will be needed by your administrator.  Chosen Payments is always available to assist you with PCI Compliance but it is up to you as a merchant to...Read more


September 6, 2017

Are You A High Risk Merchant?

merchant

Have you been classified as a “high risk” merchant?  This designation can be given to a variety of merchants based on many different factors. It certainly has a bad connotation to be called “high risk” for anything. You probably pride yourself on running a quality business that plays by the rules. Unfortunately, there are some industries that are just considered high risk and it doesn’t matter how tight you run your business, the credit card issuers such as Mastercard, Visa, American Express and others have deemed your industry to be a high risk industry. No matter how awesome you are...Read more

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