Chosen Payments Online Reporting

Reconciliation and reporting has been streamlined for our merchant by robust online reporting tools. View transactions, batches, statements, alerts, chargebacks, and more through Chosen Payments Online. Our system will set up secure access for multiple uses with different admin rights. Don’t worry about your business if you are not there, simply log on and view the reports of your choice.

HOW TO BE AWARE OF FRAUD & SCAMS

HOW TO BE AWARE OF FRAUD & SCAMS!!  Dear Valued Merchant, You are receiving this email because you are a very important merchant to Chosen Payments. Being a partner of ours we are dedicated to keeping all of our merchant informed of industry changes and anything that may affect our merchants at all times. That said, recently there have been a number of our merchants calling in to let us know that they have been receiving calls from people representing themselves as either Chosen Payments or Visa and MasterCard. These individuals are stating that they will be coming out to verity the credit card machine that you are using, verify you are PCI Compliant and will be looking to lower your rates when they  are at your location.   BEWARE this is a complete scam and is not part of Chosen Payments. These are unethical sales people getting crafty with their approach to try and get information from you. We warn you to not provide any information to these individuals and do not allow them to come to your location and look at your credit card terminal. There is sensitive data that can be taken from both your merchant statements as well as your credit card terminal.   If you get a call or have someone show up in person whom is not either your account manager at Chosen Payments, or anyone that can properly identify themselves as Chosen Payments, then you do not need to speak with them. If you feel that there is information you need or want to know simply give your Chosen Payments account manager a call or call the toll free office number below and we will advise you of anything that may be legitimate and or pertains to you.   Please note that part of this scam process is to promise you that they can save you money on your credit card processing fees. As a premier merchant of Chosen Payments when signing up with us we offer you a Rate Guarantee Program. We honor this program forever as long as you are processing with us. This means that at anytime if there is a  legitimate offer that someone made in which they proposed to save you money, and we verified it was legit, then we would either match the offer or let you out of your agreement with no penalty and give you $250. If you ever receive an offer that you feel is legitimate simply give this to your Chosen Payments representative with a completed Legitimacy Questionnaire. We will then review and honor our guarantee program for you.   Below are the Rate Guarantee Certificate as well as the Legitimacy Questionnaire. Use this questionnaire to give to anyone whom seems to be making promises of saving money on your processing fees.   All the staff at Chosen Payments greatly appreciates your business and takes pride in keeping you informed! If you have any questions get in touch with us. Have a great rest of the week!   Toll Free (855)4-CHOSEN                            424-6736 $250 RATE GUARANTEE CERTIFICATE!!!  If Chosen Payments is unable to beat a competitors rate, we will not only let you out of your agreement without a penalty but we will also give you a check for $250!  All we need is a copy of a completed Legitimacy Questionnare. If we verify the offer is true and accurate and are unable to beat the rate, you are $250 richer!  Please contact your sales rep with any further questions or inquiries.  We again thank you for your business!   Offer Expires: No Expiration! Click her for a copy of the "Processor Questionnaire"

Common Credit Card Processing Questions Answered by Merchant Services Provider, Chosen Payments

Hello ABN members!  As part of our commitment to helping you and your business succeed, we are going to feature monthly FAQs from our featured Merchant Services vendor, Chosen Payments.

If you have any specific merchant services or credit card processing questions, let us know by leaving a comment and Chosen Payments will try to address it in their next post.  You can also contact Michael Lepore at Chosen Payments by calling (855) 424-6736 ext. 127 or email Michael at michael.lepore@chosenpayments.com.  Don’t forget to mention you’re an ABN member and our ABN12 Discount Code!

Chosen Payments answers your Frequently Asked Questions (FAQs):

Starting in January 2013, 28% of your credit card sales may be withheld. Are you prepared?

The IRS implemented section 6050W of the Internal Revenue Code, which is designed to help the IRS locate fraud and track revenue streams in the payments system. It is expected to bring the government at least $9 billion in new revenue annually. This law requires the payment processors to submit a 1099-k on behalf of each merchant that would reflect their annual credit card sales processed through their platform. However, the scare for all merchants’ lies in the possibility of your processor being forced, by the IRS, to hold 28% of your sales.

What would cause this?

This would be caused by what is called a TIN mismatch. In other words if the tax identification information that your credit card processor provides the IRS, does not match what the IRS has on file you will fall into the backup withholding category. The processors and merchants are only given 30 days to correct any mismatch before the 28% withholding is imposed.

Your fear!

If you have a mismatch and it is not corrected before January 2013 you will fall into this backup-withholding category. Many businesses will not be able to withstand a hold of 28% of their credit card revenue and this could have very significant effects to many of you.

What can you do?

Be proactive. If for some reason your processor has not reached out to you as of yet to either ensure your TIN is considered valid with the IRS, or to inform you of a mismatch you have two options.

One is to get on the phone with them now and ensure you are ok and your information is deemed valid. If this is the case make sure you get it in writing.

The second option is to look for a new processor, one that informs and educates their merchants, and has a proper plan in place for this process. Interview them and ask questions on how they plan to adapt to the IRS 6050W mandate.

How can we help?

Chosen Payments offers free consulting on the merchant service industry to all ABN members. We can help you go through the process of avoiding any IRS penalties and ensuring you do not fall into the category of 28% backup withholding. Chosen Payments has internal systems and procedures to ensure every merchant is communicated with and has the necessary tools to stay informed. Allow Chosen Payments to be “your partner in success” and get in touch for free advice or consultation.

Common Credit Card Processing Questions Answered by Merchant Services Provider, Chosen Payments

Hello ABN members!  As part of our commitment to helping you and your business succeed, we are going to feature monthly FAQs from our featured Merchant Services vendor, Chosen Payments.

If you have any specific merchant services or credit card processing questions, let us know by leaving a comment and Chosen Payments will try to address it in their next post.  You can also contact Michael Lepore at Chosen Payments by calling (855) 424-6736 ext. 127 or email Michael at michael.lepore@chosenpayments.com.  Don’t forget to mention you’re an ABN member and our ABN12 Discount Code!

Chosen Payments answers your Frequently Asked Questions (FAQs):

Starting in January 2013, 28% of your credit card sales may be withheld. Are you prepared?

The IRS implemented section 6050W of the Internal Revenue Code, which is designed to help the IRS locate fraud and track revenue streams in the payments system. It is expected to bring the government at least $9 billion in new revenue annually. This law requires the payment processors to submit a 1099-k on behalf of each merchant that would reflect their annual credit card sales processed through their platform. However, the scare for all merchants’ lies in the possibility of your processor being forced, by the IRS, to hold 28% of your sales.

What would cause this?

This would be caused by what is called a TIN mismatch. In other words if the tax identification information that your credit card processor provides the IRS, does not match what the IRS has on file you will fall into the backup withholding category. The processors and merchants are only given 30 days to correct any mismatch before the 28% withholding is imposed.

Your fear!

If you have a mismatch and it is not corrected before January 2013 you will fall into this backup-withholding category. Many businesses will not be able to withstand a hold of 28% of their credit card revenue and this could have very significant effects to many of you.

What can you do?

Be proactive. If for some reason your processor has not reached out to you as of yet to either ensure your TIN is considered valid with the IRS, or to inform you of a mismatch you have two options.

One is to get on the phone with them now and ensure you are ok and your information is deemed valid. If this is the case make sure you get it in writing.

The second option is to look for a new processor, one that informs and educates their merchants, and has a proper plan in place for this process. Interview them and ask questions on how they plan to adapt to the IRS 6050W mandate.

How can we help?

Chosen Payments offers free consulting on the merchant service industry to all ABN members. We can help you go through the process of avoiding any IRS penalties and ensuring you do not fall into the category of 28% backup withholding. Chosen Payments has internal systems and procedures to ensure every merchant is communicated with and has the necessary tools to stay informed. Allow Chosen Payments to be “your partner in success” and get in touch for free advice or consultation.

Chosen Payments Gateway Integration

Chosen Payments currently supports over 120 third party gateways. If you have a gateway that is not currently supported then we offer our developer integration package to help us connect. Chosen Payments will assign a project manager to work hand and hand with our merchants or their respective developers to complete the process of shaking hands virtually.