Stay with us to learn precisely why flat rates don’t work well for high-ticket transactions and how Electronic Money Company can provide a custom solution tailored to your business needs and save you a small fortune!
At Electronic Money Company, we create custom rate structures that align with your specific transaction patterns. For example, one of our auto repair clients signed up for Square when he opened his business. Square has a high flat rate. When your volume is low as you start your business, it doesn’t matter how high a rate you pay.
But when you start growing, it matters a whole bunch what rate you are paying your processor. We met an auto repair shop still using Square after 3 years, and his volume had climbed to $100,000 per month!
Here is the math. $10,000 X 3% equals $300 per month in processing fees in the first few months in business. But 3% X $100,000 volume of processing is $3,000! And that is per month! Electronic Money Company can save an auto repair shop like this $500 to$1000 per month with a custom rate!
Why send a huge chunk of your profits to Square? Keep it for yourself to grow your business and bottom line even higher.
Square has the same rate for every business. They have to cover every type of transaction with a high rate, whether low or high risk. They make huge profits from low-risk transactions and minimal profits from high-risk transactions. The business owner is tricked with a simple flat rate into padding the profits of Square.
Have you noticed the size of their advertising budget? Wouldn’t you rather grow your profits and increase your advertising budget?
So, if you have high tickets like this auto repair shop, and your volume grows to $30,000 to $50,000 per month or even higher, consider getting a custom rate program with Electronic Money Company. We charge a low rate for low-risk transactions like debit cards and a medium rate for medium-risk transactions. The savings could allow a car repair shop to invest in new diagnostic equipment, enhancing service quality.
Electronic Money Company can customize rates based on your transaction size, frequency, volume, and risk level, significantly reducing fees. Don’t wait another month. Don’t throw any more money away to pad Square or any other payment processor’s pocket instead of your own!
Call me, Gingergaye, at 505-296-2847 for a rate analysis, or go to my website at Electronic Money Company and opt-in for a free credit card terminal to go with your new low rates! Keep more of your hard-earned money to reinvest in your own business growth!
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