Every new business owner is eager to launch their adventure and acquire their first sale. Before that sale takes place, a rigorous process of research and development takes place to acquire compatible business solutions for the venture. Two such tasks are determining a Point-of-Sale system and finding a reliable Merchant Services Provider. A great MSP provides both. MSP’s are also known as a credit card processor.
Choosing a credit card processor has become a challenging task. Every business, whether large or small, look for a provider that isn’t just a credit card processor but also provides essential support in terms of pro-active customer service, troubleshooting, and competitive fee structures. Since the birth of credit cards in the 50’s and the increased use of credit and debit cards perpetuated by online sales, the necessity for merchant service providers rose as well. This launched a platform for hundreds of ISOs and even banks acting as MSPs who came into existence to dip their toes in credit card commerce. Most of them gained a bad name for allegedly ripping off small and naïve business owners of their hard-earned profits. Profits were eroded by processing fees, statement fees, compliance fees and many other miscellaneous charges that merchants believe everyone pays.
In 2011, after securing extensive frontline experience in the field through years of hard work and dedication, Jeff Brodsly took it upon himself to change the relationship between a merchant and its MSP. He established ‘Chosen Payments’ in Moorpark, Calif. that quickly became a respected leader in the payment space industry. Presently, Chosen Payments has branches in Utah, Michigan, Kansas, Massachusetts, Tennessee, and Georgia. The company was founded while keeping the merchant in the mind and ‘building trust among clients’ became their first priority.
“We make a difference in payment processing by being our client’s partner in success,”says CEO and Founder, Jeff Brodsly of Chosen Payments.
That famous White Glove Service
Brodsly was well aware of the challenges of rising to the top when he started from the bottom. He was prepared for the competition as he launched Chosen Payments. The biggest road-block to overcome was to create a positive reputation as an Independent Sales Organization (ISO) in a climate when payment processing organizations had simply limited their function to clearing the transactions while leveraging on the sign-up escrows for merchant accounts that came with miscellaneously high tariffs and minimal customer support.
In this age of providers, Chosen Payments rather took a unique partnership approach. CEO and founder, JeffBrodsly shares, “Competition in the credit card processing industry can feel like death by a thousand cuts as each provider shaves off smaller and smaller fractions of pennies. Chosen Payments took a different approach: we entered niche markets and offered competitive pricing, but more importantly, we got to know the industries and their challenges. We learned from the old hands and eager startups. We sponsored their events, sat on their boards, protected their revenue, and shared our expertise.”
Chosen Payments service ethics involve integrity, meticulous care, attention to detail as well as transparency while processing transactions. The company offers distinctive client-servicing etiquette and a hands-on approach whether taking customer queries or trouble-shooting a matter from a 24/7 call center. Brodsly strongly believes in building meaningful relationships and providing integrated payment solutions through technological advancement and innovative work culture. By coordinating with various POS vendors and brain-storming with software companies, Chosen Payments is able to combine the back-end enterprise resource planning system with the front-end point of sale system allowing merchants to use a single tool for managing all sorts of payments either via direct software integration or third-party gateways. Credit card processing is merely one of the various services offered by Chosen Payments. It provides merchant cash advance loans, credit card authorization, and settlement solutions, ACH/check processing services and sponsorship of industry trade shows and events that lead the way in supporting industry association partnerships.
Jeff Brodsly, CEO & Founder, Chosen Payments
In their endeavor to be a strategic partner rather than simply a credit card processor, Chosen Payments offers industry experts who consult to deliver a personalized solution for each business, dedicated CRM portals with an easy-to-use dashboard that allows merchants to report submissions painlessly while preventing data breaches and receiving 24/7 live support all the way at competitively low costs.
The organic growth
From starting out as a small ISO for niche markets such as limo companies and jewelry stores to become the preferred credit card processor for the 6000 member NHRA, Chosen Payments has successfully claimed the title of the most trusted financial service provider in the payments industry. They work with the notion of collective success and finding loyal partnerships.
In just eight years, Chosen Payments has compiled a list of several distinctions and honors. It has seized numerous awards such as The Award of Excellence by LCT Magazine and The President’s Club Award by First Data- World’s largest credit card processor for six consecutive years. The company has also been named to the INC. 5000 Magazine rankings repeatedly, year after year. The consistently impressive rankings reflect the company’s long-term ability to deliver on their client’s expectations and being their true partners in success. Jeff Brodsly who was awarded ‘Entrepreneur of the year’ by Moorpark Chamber of Commerce in 2013 just two years after the launching of Chosen Payments, is now distinguished by ‘Forty Under 40’ program by Discover Card, as one of the top executives in the credit card processing space in 2019.
By maintaining perfect attendance at celebrated trade shows, Chosen Payments now progresses through word of mouth and get most of its business through client and association referrals.
For their future aspirations, the company plans to carefully expand its grip to selected vertical markets and continue setting up offices across the country to facilitate personal interaction with clients on a regional and even local basis.
Utilizing automated tools including ZoHo (their customer relationship manager system) to streamline the process for promoting their attendance at industry trade shows, Chosen Payments is all set for the next level of play.