During this time of social distancing and businesses shutting down, some credit card processors are freezing merchants’ funds. Why do they do this? The answer goes back to understanding our system of credit card processing. Merchants are so used to taking credit cards and seeing money go into their bank account that they think credit card transactions are cash transactions. After all, if it looks
Mobile processing isn’t just for businesses that are only mobile; it is also for brick and mortar businesses. If you are a retail shop, then can you understand how it might be advantageous to take the cash register to the customer? This could capture more impulse sales. Also, a mobile payment station can speed up check out times. This will alleviate lines and save your
As technology gets smarter, we have noticed that the individual credit card terminal is slowly being replaced by the POS cloud-based tablet systems. The original credit card terminal was separate from the cash register, and the first step that made sense was to put them together. As a result, the register could automatically reconcile with the payment terminal, saving merchants time and money. Secondarily, the
Time is money. And time is a valuable resource, as the adage goes, therefore it is better to do things as quickly as possible. When it comes to running your restaurant establishment, training new employees with a manual paper system or cash register system, wastes a lot of time and frustrates customers. I recently went to a restaurant where a supervisor was following a newly
Sometimes waiter theft is planned and sometimes it is merely an oversight that ends up costing a restaurant owner money leaking from his bottom line. For example, the “Soda Pop Game” is a planned waiter scam to move money from the restaurant owner to his own pocket. “Beverage Amnesia” is an oversight when the restaurant gets slammed. The Infamous “Soda Pop Game”! This employee theft
Last Father’s Day, I stole $100 from a local restaurant. I didn’t wear a ski mask and wave a pistol in the cashier’s face. I didn’t break into their safe during the dark, dark night. I didn’t have to do anything that dramatic. In fact, it was like taking candy from a baby. Now, before you start thinking you’re reading a report written by a
Scams Behind the Bar — Is Your Restaurant Losing Money on Bartender Baloney? According to Preventing Internal Theft – A Bar Owner’s Guide, by Robert Plotkin, there are nearly two dozen areas of vulnerability that can be exploited behind the bar. Bartenders can give away free drinks, over-charge or under-charge the clientele, pocket the sales proceeds of unrecorded drinks, substitute well liquor for call brands,
Employee theft in restaurants is a rampant issue. Would you believe that 75 percent of restaurant employees steal from their workplace at least once, if not repeatedly? In fact, according to the National Restaurant Association, internal employee theft is responsible for 75 percent of inventory shortages, and up to seven percent of restaurant sales. This is a true story that happened to friends of ours
Payment Processing Moves From Terminals Into Tablets! As technology changes the world around us, so it changes how we process credit card transactions. When we first got in this business 20 years ago, the big news was pin debit. Then e-commerce gateways were introduced followed by mobile payment processing. Terminals were always in big demand until recently, when card processing got moved inside an app
Only pay fees on debit card processing.
$0.00 transaction fee on credit card processing