Should you Surcharge your customers when they use a charge card?

 

To Surcharge or not to Surcharge, that is the question!

We have encountered quite a few customers recently that want to start a surcharge program for the credit card sales. What happens is a merchant services salesperson will come in or call you business and offer you a free credit card program. If you just sign up with them you can accept cards for free. Well the truth is a little different from that. These programs charge your customers instead of you. Not only that, but they are charging your customers far more than then they would ever charge you. As an example maybe you have a competitive deal for your merchant services and let's say you are being charged interchange plus 10 basis points. That is a good deal, so when they offer the free program they charge your customers 300 or 400 basis points which of course is 3% to 4% on top of what you are collecting. The problem with this is the merchant services sales person would never get away with charging you that, but when you sign up for a program like that you are letting them gouge your customers. Why is the merchant services sales person doing that? Because they make enormous commissions on a program like that. Probably ten times more than they would make giving you a fair deal.

Is there blowback from operating a Surcharge Program?

There are other pitfalls to these programs as well. As an example, take me. I will not go to a store that charges a surcharge. I'm sure I'm not the only one that feels that way. Who know, maybe it will becaome the new normal and I will be forced to but not today! 

 

Are your Cashiers Stealing from you?

 Are your Cashiers Stealing From You? Probably!

Did you know the cash register was invented by a bar owner that knew bartenders were stealing from him? You know what, NOTHING has changed! We have been in business since 1972 and have helped countless business owners confirm or catch a thief. Is is a real shame that modern computer POS system have lost or never had basic security features found in a simple cash register. Watch the video to get an intro to how a cash register Z report works. 

Cash Registers Can Help Protect your investment in your business

The Cash Register is simply a tool. And we all know you have to know how to use a tool to get the most out of it. It is also important to make sure you have the right tool for the job. Part of the cash registers job is to provide reports and security. Take a few minutes to find out how to use the features of your register correctly. 

Let Me Bottom Line this for you.

I know cash register security is boring. I know what you are saying! Let me just tell you at our little cash register business we have helped confirm several 100K inside theft cases. Yes you read that correctly, people stealing over 100K from their boss and had the boss simply looked at the register reports they would have stopped that loss at the first couple hundred dollars! If you would like to hire us to consult you on register reports or setup and deployment we are available. Call us at 800-863-2274 or as always find us on the internet at The Best Source for Cash Registers!