They won’t tell you how to increase profit margins... but we will.
Reducing costs are not always achieved how you think.
Let’s analyse the cost to process one $250 transaction. Then times that by the number of transactions you do in a week. It’s frightening.
I’m sure it won’t be exactly the same in your business, but I'm also sure it will represent similarly.
Option One: Manual Credit Card Processing
Credit card Fees between 1.2 to 1.5% = $3.375 average.
Labour content to allocate and receipt this credit card transaction based on 2 minutes for the phone call, processing, searching and allocating = $11 average.
Add these together for a total of $14.75 per transaction for manual credit card processing.
Option Two: Manual Direct Debit Payment Processing
Direct Deposit bank Fees $0
Labour content to find and identify, allocate and receipt this direct deposit transaction based on 3 minutes = $16.50 average for manual Direct Debit processing.
Option Three: Completely Automated Credit Card Processing
Credit Card and automated receipting Fees 1.5% + 30 cents = $4.05 for completely automated credit card processing!
And to add salt to the wounds, this administrator works 24 hours, 7 days per week and never has a sickie.
***Based on an administration person on $48K per annum***
Once you set up Automatic Credit Card Payments in EasyVend, it will automatically handle the entire payment and receipting process for you.
This will cost you 1.5% plus 30 cents per transaction. As an added benefit this cost can be applied as a surcharge onto your individual invoices - meaning you will save even more money!
We have customers that now refuse new customers unless they setup automated payment methods. Automatic Credit Card Payment Options are largely expected today, in fact it has proven to be a much safer option for businesses than receiving customer credit card numbers over phone, text or email.
How to activate Automatic Credit Card Payments in EasyVend?
EasyVend Customers will need to apply for a merchant facility with our Payment Gateway Partner (Fat Zebra). Once you are an approved merchant, one of the Jeal staff will enter your merchant details into EasyVend and show you how to transact. It’s that easy!
Click the button below to begin your merchant application.
Does it cost anything to setup the account? No.
Do I have to pay a monthly or ongoing fee for the account? No.
What is the credit card fees? 1.5% plus 30 cents per transaction.
What Credit Cards do you accept? Visa and Mastercard.
Do you accept Direct Deposit? Yes. You will need to add it to your application.
Is the Payment System Secure? Yes. Customer Credit card details kept in a PCI (Payment Card Industry) compliant Gateway that cannot be accessed by anyone after they are entered.
Can we set up a credit limit? Yes. You will receive an alert for over limit.
I recently transitioned my credit card payment processing from a third-party provider to the Automatic Credit Card Payment system within EasyVend. I can now process credit card payments with a single click within EasyVend, which is saving me a stack of time plus I have the option of setting up automatic payments which will eliminate me having to process the payments manually all together. The transaction rates are also very competitive. Highly recommend this system."
Adam Wickman – Chilled Distribution
For food and beverage vendors and distributors, EasyVend supports and automates every part of your business, freeing you up to grow your sales unlike other ERP systems that are designed more for wholesale suppliers than for distribution businesses like yours.
EasyVend includes all your everyday features like Inventory Management, Invoicing, Receipting, Route Management, Automatic Credit Card Payments, Online Ordering, Xero Integration, Customer Reminders, Business Reporting and so much more.
Want to learn more about EasyVend? For a no-obligation free demo of EasyVend Web and how we can help your Food & Beverage Distribution Business, call us today on 1300 473 744 or submit the form below.