Why Choose Electronic Money Company? Why call Electronic Money Company? The answer is simple. We’ve been doing this for over 25 years. Our reputation has been built on being honest, transparent, and straightforward. When we do a comparison, we don’t play games with numbers. We don’t promise savings that don’t exist. We don’t hide fees in the fine print. We show you exactly what you’re
Attention auto repair shop owners. This article is specifically for you, although other business owners may find some similarities. Are You Paying Too Much to Process Credit Cards? Electronic Money Company recently saved an auto glass shop $2,000 per month on their payment processing fees. If you’re like most auto repair shop owners, when you first opened your doors, you were focused on getting customers,
When I am talking to merchants about their credit card processing rates, many times they ask my what my rate is? They think their rate is the total fees divided by the volume processed on their credit cards. They ask if I can beat that rate. But the rates vary on different types of cards and different ways of accepting cards, card present, over the
Let me tell you something every business owner needs to understand if you want to grow your revenue without constantly chasing new customers. Your regular customers are everything. New data shows that repeat customers generate six times more revenue than one-time or occasional shoppers. Six times. That’s not a small difference—that’s the difference between struggling month to month and building a predictable, growing business. And
How do you feel when you call up a company that sold you a product or service because you have a question; a concern; you have a gripe; something is not working right; you don’t understand the billing; or for whatever reason you need to speak to a live human. Do you like it when you have to listen to a bunch of prompts, of
If you’re running your business on a POS system that “comes with” its own payment processing, there’s a good chance you’ve felt it… those rates creeping up, support getting slower, and the sinking feeling that you’re stuck. You’re not alone—and more importantly, you’re not as locked in as you think. Let’s talk about what’s really going on, and how to fix it. A lot of
Adding payment processing to your software matters tremendously because of the added revenue for your software company. What matters also is your choice of processor. Gingergaye here with Electronic Money Company. Today I am going to discuss why choosing the right payment partner up front with a strong relationship manager sticks your software customers to you long term while allowing you to focus on software
Many businesses today are adopting dual pricing as a way to control rising credit card processing costs. Instead of absorbing the fees themselves, merchants offer customers two prices — a cash price and a card price. Customers who pay with credit cards cover the processing cost, while those who pay with cash avoid the extra fee. If your business processes large transactions, you can offer
Many ISVs initially think they are in the software business, but the real profit often comes from payments. The Revenue from Payment Processing Outperforms the Software Revenue Here’s how the revenue model of payment processing works. The fees that the merchant pays to accept credit and debit cards are comprised of the following: The banks who issue the cards to consumers earn the wholesale interchange
If your business accepts a lot of corporate or government credit cards, a major change is happening in the payments industry. Depending on how you handle transactions, this could either increase your costs—or help you save significantly. What Is CEDP? CEDP stands for Commercial Enhanced Data Program. It’s Visa’s new system for determining which B2B transactions qualify for lower interchange rates. Why Visa Introduced CEDP
Click here to watch the video Telemarketers try to scam merchants into switching their credit card processing by pretending to be their current merchant services provider. They use common words like, “This is your merchant services calling,” instead of mentioning the processor’s name. They tell whoppers on the phone to scare merchants into thinking they are paying too much. Another scare tactic is to frighten
Click here to watch the video PIN debit versus A.c.h. And cashless ATM. How do you know which payment solution is best for your cannabis dispensary? Hi, I’m Gingergaye, President of Electronic Monday Company. I’m going to start by talking about PIN debit a little bit. You have a credit card terminal which does only PIN debit, and the customer dips their card and enters
Click here to watch the video B2B stands for business to business. Similarly, B2G stands for business to government. That is opposed to B2C which is business to consumer. In the world of credit card processing, B2B and B2G transactions are at higher risk. Why? Because there is more fraud when employees are tempted to use their business credit cards for personal items. The company
Click here to watch the video Gingergaye here with Electronic Money Company. What is the difference between voiding a credit card transaction and refunding it? If the customer wants to return a product the same day they purchased it, then use the void process from your credit card processor. The ticket will not be batched to your bank. You are charged a transaction fee for
Click here to watch the video Merchants want to get paid fast. The old way of mailing out invoices and waiting for checks to arrive in the mail is becoming a way of the past. The new way to get paid fast is to email a client an invoice with a click-n-pay button. Clicking the button directs the customer to a hosted payment page on
Click here to watch the video When you run a transaction in the credit card terminal, it sends a signal to get authorization and approval for the digital payment from the customer’s credit or debit card. It does not deposit the money into the merchant’s bank account until the merchant batches all of the transactions at the end of the day. Merchants can manually hit
Click here to watch the video Bank fees are higher for cannabis merchants because costs are higher for banks regulated to handle money from cannabis merchants. The regulations they have to follow take lots of extra time for staff to complete. Here are 4 reasons why the bank fees for cannabis merchants are higher than for regular merchant accounts 1. Bank deposit fees are higher.
Click here to watch the video Let’s talk about restaurant POS software and some of the new technologies available, QR code technology for ordering and for QR code technology for taking payments. The benefits are a convenience for your customers all while allowing you to turn tables faster and grow your bottom line. Introducing the QR code for ordering! The QR code can be placed
Click here to watch the video POS systems come with a multitude of features and functionality. But what if you want something simpler? That is why POS Light was created. Maybe you don’t need a CRM, ordering, inventory tracking, marketing, payroll tracking, or online ordering. Perhaps you prefer a simpler operating system that takes orders and payments. There is a credit card terminal, called the
Click here to watch the video Hi Gingergaye here with Electronic Money Company. We do merchant processing and we help with payments in the Cannabis Industry. People are asking me what do I need, to do an application for our program which is called true pin debit processing? It doesn’t take credit cards, it takes pin debit, it’s fully legal and compliant in your industry.
