Posted by Don Bregin on October 7, 2019
At first glance Square dropping it’s long standing pricing appears beneficial to merchants. Long story short, it will benefit some, hurt others with much higher cost per transaction prices. This is also a sign Square is searching for avenues to generate greater profits. Common thought process would be, “great… a price reduction from 2.75% down to 2.60%. What’s 10 cents, no big deal.” This analogy is common thought process until the numbers and true affects are shown in black & white side by side at various average transaction levels. See illustrations below how this “price drop” affects various merchants based on average transaction sizes. Whether cards are debit or credit makes no difference under this illustration due to determining cost based on average transaction sizes. Average transaction size clearly drives costs of card processing.
Added 10 cents Cost Effect
New Processing Cost
Cost vs New Cost
200 basis points =
2.60% + 2.00% =
2.75% vs 4.60%
$10 100 basis points = 1.00% 2.60% + 1.00% = 3.60% 2.75% vs 3.60%
67 basis points =
2.60% + 0.67% =
2.75% vs 3.27%
50 basis points =
2.60% + 0.50% =
2.75% vs 3.10%
40 basis points =
2.60% + 0.40% =
2.75% vs 3.00%
33 basis points =
2.60% + 0.33% = 2.99%
2.75% vs 2.99%
29 basis points =
2.60% + 0.29% =
2.75% vs 2.89%
25 basis points = 0.25%
2.60% + 0.25% =
2.75% vs 2.85%
22 basis points =
2.60% + 0.22% =
2.75% vs 2.82%
20 basis points =
2.60% + 0.20% =
2.75% vs 2.80%
18 basis points =
2.60% + 0.18% = 2.78%
2.75% vs 2.78%
As you can see above if your average transaction is $55 or below
this new pricing affects your costs.
Where does your organization fit in?
How does this new pricing plan affect your bottom line?
Posted by Don Bregin on July 2, 2017
Our newest POS system hard at work. Appetize is bringing advanced technology to the big leagues! Now major league stadiums have access to EMV technologies which include “seat side”, ordering and pay in your stadium seat, technology. Can you imagine placing your concession stand order from your seat while enjoying your favorite sports team? Then a hospitality team member brings your refreshments right to your seat! Now you can, plus you can pay using your EMV enabled chip card from your seat too. See the most recent press release below and which big league stadiums have joined the ranks of Appetize.
Posted by Don Bregin on July 6, 2017
Another purchase and consolidation takes place in the processing world. Vantiv has agreed to purchase World Pay adding to its global footprint. See entire news release below.
Tags: vantiv, worldpay
Posted in: News
Posted by Don Bregin on May 4, 2017
Conducting business in professional, transparent and honest manner is not only great business philosophy, which truly creates customer partnerships, it also keeps “you” out of prison. Increased scrutiny of merchant services providers using misleading verbal statements, misleading proposals and worst of all, misleading analysis’ to dupe unsuspecting customers into to becoming buyers, is now forcing law enforcement and prosecutors to ramp up enforcement. As an industry professional I welcome this increased enforcement. Days of using boastful and misleading tactics are coming to an end. Greater scrutiny and prosecution will ensure this. Conducting yourself as a true professional is paramount.
We all too often see unprofessional, disgusting activity taking place where unsuspecting merchants are duped into doing business by “pie in the sky” promises of “lowest rates” and “smoke and mirrors” proposals. These tactics are often unveiled when the credit card processing statements show up full of little surprises. Sometimes it takes 2-3 or 4 months before all the surprises are aired, but they do eventually make their presence. Add this together with the words spoken by the associate plus other unannounced surprises you have the perfect storm and grounds for prosecution due to fraud. As industry professionals we are held to our words and presentations. We must be totally transparent and honest to a fault or face the consequences. Ignorance of the facts or lack of industry knowledge is not an excuse. As a professional you must take your responsibility seriously. Each and every one of us in an industry ambassador. We must learn the business through being highly trained and educated in our industry. We must also be well aware of associated laws before we venture out and face impending disaster. Read article below and see why this is ultimately so much more important today.
Posted by Don Bregin on June 10, 2017
Times are changing and fraud is climbing in some areas. Data breaches are up 35% across the industry. Malware has hit Kmart hard. Phishing scams are getting more sophisticated and scams to steal card data are rising. See article below for the whole story. (more…)
Posted by Don Bregin on June 29, 2017
Appetize is newest tool added to our POS tool chest in effort to bring our customers the finest most recent in technology and capabilities. We will be rolling out customer education campaign in near future. Applications and possible uses are almost limitless. We can service major sporting venues, college or professional league stadiums, concerts, entertainment complexes, public arenas, franchise operations, etc. Stay tuned for updates as we release new materials in the near future.
Posted by Don Bregin on May 25, 2017
One of the hottest new POS technologies in the market place: Appetize
By Mark Lindsey
PR for Appetize
Appetize Technologies Adds Top Universities to Fast-Growing Roster of College Payment Platform Sites
Appetize, a leading cloud-based enterprise point of sale (POS) solution, has rolled out its innovative payment platform to over ten new campuses in 2017, including the University of Southern California, the University of North Carolina, and Ole Miss University. Now operating at dozens of colleges and universities across the country, Appetize’s kiosks, handheld ordering tablets, POS systems and other concessions technologies are the fastest-growing apps and devices of their kind. (more…)
Posted in: Technology