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Credit Card Processing Question

Perry,

You are set up on the QSR Program. Cost Plus 8.

Congrats on that.

As for wireless, the Vx 610 is the latest and greatest from Verifone. Depending upon how much delivery you do the Terminal will pay for itself over time. Swiped rate is cheaper than Handkeyed not to mention time savings factor.

One of the nice features of the Vx610 is the “store and forward” feature. If you don’t have a signal you can store the transaction and forward it once you get to an area with a signal.

I am a Fan of Wireless. I am typing this on my wireless laptop right now.
 
How do the wireless terminals work?

Scott, any way to get out of paying an early termination fee?
 
Heather,

Our wireless service works on the Vx610 using the Verizon Network, the same way a Cell Phone works. There is NO service contract with Verizon, RBS Lynk debits the DDA for the $25 monthly fee.

We also have 2 other wireless options. One of which would be a good fit while the other probably wouldn’t.

Option 2:
Wireless service using a TREO 650 Cell Phone with a docking station. The docking station has the Magstripe reader and printer built in. With this option you would obtain your own DATA plan and TREO phone from numerous providers. The TREO 650 has signature capture on the phone and transactions can be viewed on our Virtual Terminal via the internet.

Option 3:
Using a wireless laptop and logging in to our Virtual Terminal (LynkVT.com). This is probably not a good option for Pizza Delivery. Kind of hard to carry pizzas and a laptop at the same time.

As for the Early Term Fee. There is no easy answer here. Typically when I switch a Merchant to our service I am saving them enough money in processing fees that the early term is “Paid” for in 1 to 3 months.

Of course that depends upon your Restaurants CC Volume and Early Term fee.
 
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More problems.

3 visa gifts cards spit out decline in the past 2 weeks. I’m really starting to hate credit cards period. Maybe we should all sue visa/mastercard for not disclosing to the customer the gratuity thing. 25 cents a pop to swipe a card can add up for alot of merchants.
 
Re: More problems.

It is possible the declines happened because there was not enough money on them to cover the Bill.

Gift Cards aren’t going away anytime soon. As a matter of fact Gift Card sales were up over 25% this year over last year.

Personal Gift Cards, with personal printing or embossing or even Custom Gift Cards are great way to increase sales and visibility for your stores. For the less than the cost of an advertising insert in the paper you can have your own program.

Consider the fact that 80% of Gift Cards that are Activated are never used. That 20% “Breakage” often pays for the program. If you live in a college town Parents love to buy their kids “prepaid” lunch cards.

check out www.lynkcustomcards.com for ideas. If anyone is interested in the program please contact me.
 
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