Merchant Cash Advance

Could you use some extra cash to help grow your business? Chosen Payments cash advance products allows our merchants to leverage their credit card sales by advancing anywhere from $5,000-$600,000. This extra capital can be used for expansion, inventory, payroll or anything else that suits your needs. Our merchants love this product because of its flexibility and low risk. Highlights of the program are;

• Unsecured Funding
• No Fees
• Funding within 7-10 business days
• No fixed payments
• No collateral
• High approval rates
• Free Application

Check Guarantee - Chosen Payments

Writing checks is still a popular form of payment for many consumers. As a merchant if you do not accept checks you expose yourself to lose business. After industry surveys Chosen Payments found that the number one reason merchants do not accept checks is due to the risk of a bad check. Through our Check Guarantee program we have a solution that will help solve this problem.

Our services allow your business to accept these paper checks and change them into an electronic debit, merely acting as a credit card. Run the check through our equipment and receive an approval or decline. If the check is approved you will receive your funds the same way you would if you were to cash the check in the bank. This process is quick, secure, and increases the productivity of your business.

Check Guarantee by Chosen Payments

Writing checks is still a popular form of payment for many consumers. As a merchant if you do not accept checks you expose yourself to lose business. After industry surveys Chosen Payments found that the number one reason merchants do not accept checks is due to the risk of a bad check. Through our Check Guarantee program we have a solution that will help solve this problem.

Our services allow your business to accept these paper checks and change them into an electronic debit, merely acting as a credit card. Run the check through our equipment and receive an approval or decline. If the check is approved you will receive your funds the same way you would if you were to cash the check in the bank. This process is quick, secure, and increases the productivity of your business.

Check Guarantee by Chosen Payments

Writing checks is still a popular form of payment for many consumers. As a merchant if you do not accept checks you expose yourself to lose business. After industry surveys Chosen Payments found that the number one reason merchants do not accept checks is due to the risk of a bad check. Through our Check Guarantee program we have a solution that will help solve this problem.

Our services allow your business to accept these paper checks and change them into an electronic debit, merely acting as a credit card. Run the check through our equipment and receive an approval or decline. If the check is approved you will receive your funds the same way you would if you were to cash the check in the bank. This process is quick, secure, and increases the productivity of your business.

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.