Chosen Payments Credit Card Merchant Processing Services Form

Instructions and help about Chosen Payments Credit Card Merchant Processing Services

Hi, my name is James Shepherd. We are in a mini series right now kind of back to the basics, just talking about merchant services. What is it? How does it work? In the last video, I talked about to you about what is merchant services and we talked about moving money. Basically we are just taking the customer’s money and getting it over to the business owner. What we talked about in the last one is kind of the history of merchant services. How did it start? What does it do? What is it? This time we are going to talk about how do you actually make money selling merchant services? With the moving of the money around, how does that actually work? As we discussed in the last video, there are some costs of moving the money around, and those costs are primarily called the interchange fees. Interchange fees are charged by the banks. The banks say, “We are going to charge an interchange fee in order to move this money around.” They are going to hold a certain amount of money. The way it