Merchants are staying in the status quo when the best boom to hit merchants is here - dual pricing! Dual pricing is the system where a store has a cash price and a credit price. The credit price is about 4% higher than the counterpart.
What does this do for me?
As a merchant, if you are paying on $75,000 per month in gross processing, you will pay about $3,000 per month in credit card processing. Now, i can put you on a dual pricing program, charge you a total of $200/month, including new equipment. Now, you are saving $2,800 per month just by switching?
How is this even a conversation? Yet, some many business owners have not switched.
- Reason: Business owners are leery of anything that saves that much money.
- Reason: Business owners like to research things before jumping all the way in. Merchant sales is fast-paced.
- Reason: Business owners don't understand how you get a rate drop this extensive.
- Reason: Business owners feel as if their merchant processing agent is part of his friends network. He cannot fathom he wouldn't tell him. (Everyone is on the friend level until the money comes in.
Business owners need to understand how to properly address this question. First, yes, it saves money, but the money is still being paid. The merchants are not paying the bill any longer.
Business owners need to understand that cutting costs should be the first item on your list for 2023. There are a lot of supply chain issues affecting the USA, so lowering costs to free up some money should be an integral part of your daily routine.
Panther Processing offers business owners a real opportunity to drastically reduce an eseential cost for doing business. Let's meet to discuss how we can save you thousands this year as well!