Electronic Money Company

Waiter Theft Scam in Restaurants

Waiter Theft Scam in Restaurants – Why You Need the Right POS!

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

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PayPal vs Your Own Merchant Account

PayPal vs Your Own Merchant Account

If you own a business, your customers must be able to pay for your goods or services using credit cards. To enable you to accept credit cards, you will need a merchant account, or you can opt to use a third-party processing service such as PayPal. PayPal is what is called aggregate processor, which means they lump all their merchants into one merchant account. One

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Liquidated Damages

Liquidated Damages

Liquidated Damages in a Credit Card Processing Agreement The Most Costly of Termination Fees Period! When you choose a credit card processor, you will be asked to sign a merchant services agreement that includes a commitment of between three and five years. In some cases, breaking a merchant services agreement early will simply result in a termination fee. But beware of credit card processing providers

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Visa Announces New Rules for Merchants Accepting Credit Card Refunds

Visa Announces New Rules for Merchants Accepting Credit Card Refunds

Visa is introducing an authorization requirement for return (cardholder refund) transactions. Authorizing a return enables the card issuer to validate the cardholder account, decline potentially fraudulent cards, and minimize chargebacks if the account does not exist or is closed. The return authorization message is intended to improve the return process by enabling cardholders to view a credit/return on their online banking statement in real time,

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How a Good Merchant Services Program Keeps Clients with Your Bank

Keep Clients with Your Bank

How a Good Merchant Services Program Keep Clients with Your Bank Is your current processor for merchant services shrinking your residual income and causing your clients to put their deposits into another bank? A good merchant services program should not only keep your merchants with your bank forever, but grow your portfolio of merchants doing their card processing with you as well. So how does

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Restaurant Scams and Shams – A ‘Comps’ Tale

Restaurant Scams and Shams – A ‘Comps’ Tale

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

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Back From an Event with My International Success Club

Back From an Event with My International Success Club!

I recently had the pleasure of attending another event with the success club I belong to. It is called the Global Information Network. We study together the principals of Napoleon Hill. We practice the teachings of Dale Carnegie in How to Win Friends and Influence People. We share with each other the books by Esther and Jerry Hicks, more specifically, Ask and It Is Given.

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No Hidden Fees Trap

‘No Hidden Fees’ Trap

‘No Hidden Fees’ Merchant Scam These days, everything we hear from politicians and advertisers has a SPIN. ‘No Hidden Fees’ sounds great, doesn’t it, especially when it is in bold type in a big font on a credit card processor’s marketing. Here is how this SPIN and the ‘No Hidden Fees’ Merchant Scam goes down. Many processors pronounce to their prospects and put in writing

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Bartender Baloney

Bartender Baloney

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,

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