What are the differences and the best choice for your business?
Are you considering Surcharging or Cash Discounting? Accepting credit cards is a necessity in today’s world. However, credit card processing fees are taking a larger chuck out of your profit margin these days, especially with the ever-increasing popularity of rewards cards. Moreover, many of the merchant fees associated with rewards cards tend to increase year after year, due to the escalation of the “Cash Back” incentives the Card Issuers give their cardholders.
Who pays for the majority of these incentives? You the merchant. More and more merchants are now electing to add a surcharge or implement a cash discount program to combat these rising costs. This may be a great option for your company if done correctly. So, what is the difference between surcharging and cash discounting?
- Surcharge: Adding a small percentage to a credit card transaction to offset the merchant fees for processing the credit card payment. This surcharge is added to offset the processing fees associated with accepting credit cards. This fee only applies to credit cards and does not apply to other forms of payment such as debit cards, cash, or checks. Surcharging must also be done in a compliant manner and by a processor that follows the rules and ensures their merchants are compliant.
- Cash Discount: A reduction in price for customers who pay with cash or check instead of credit or debit cards. The discount is deducted from the advertised price at the time of sale. Another method of Cash Discounting is adding a small percentage to increase the price of the sale, known as a Non-Cash Adjustment.
Making this Win-Win Solution
Ask yourself, is this a good move for your business? Will there be pushback from the customers? The solution is simple. Giving your customers an option to pay with a lower-cost alternative is a win-win! They continue to receive great pricing if they pay with cash or check, and you are able to offset your processing fees. It is good for both parties when these programs are rolled out correctly with proper signage, employee training, and a good Point of Sale System, which calculates and ensures compliance.
Card Systems understands that every business is unique, which is why we take a consultative approach to find the right solution for your business and card processing needs. Whether you’re just getting started or have been in business for decades, Card Systems can offer endless benefits to help you run your business more efficiently and more profitably.
If your food service business (any business where the onsite sale of food or drink comprised 33% or more of gross receipts) suffered losses due to the pandemic, there is a grant you should be looking into.
The Restaurant Revitalization Fund from the SBA is focusing on businesses with 20 or fewer locations, and will give initial preference to businesses owned or controlled by women, veterans, or socially/economically disadvantaged individuals.
The grant is not yet accepting applications, but you can download it now in order to collect all your data and be ready to enter as soon as it opens.
Check out who qualifies, what information will be requested, and sign up to be notified when applications are being accepted at:
We are a state that is the envy of the nation. Homes are selling at record highs while only on the market for mere days. Why? Our businesses are open, and here, in Lee county, we still have the freedom of choice.
We can choose the restaurants and businesses we want to go to based on their business decisions. Some may require masks upon entry, and some, like Sweet Bean Coffee Cafe, may not. It is their choice as business owners.
We can choose to open our businesses or close them and choose our policies. We have the choice to wear one mask, two masks, or none at all.
We are busier than ever and taking precautions to keep our employees, patrons, family, and friends safe. But, we are Americans and entrepreneurs from all walks of life, and, yes, we still have the right to choose.
Spread the love to your customers this Valentine’s Day by offering out of the box ideas for those who are not feeling quite ready to venture out yet. Offer a curbside candlelight Valentine’s dinner prepared or unprepared and maybe include a small gift card they can use in the future as a surprise when they unbox their order.
Create a beautiful Valentine’s basket with a gift card and bottle of wine or glasses for those who choose to celebrate later. Maybe a pizza for two and a growler. There are so many fun ideas you can incorporate to make your restaurant even more memorable during these times.
Make an extended holiday this year by offering these specials the on 12th, 13th, and 14th or even the entire week. This will gain more business and allow clients to celebrate without the crowds of previous years.
Get creative and if you need last-minute digital cards or gift card presenters, we have you covered!
Boost your Restaurant Sales by Up-sell to Existing Customers
Your servers should be suggesting appetizers, desserts, and gift cards. Are they? A lot of servers simply ask ”Can I start you out with an appetizer?” This puts the server in a bad position if the customer says no as they can’t really ask again without running the risk of sounding pushy or becoming annoying. When it comes to suggestive selling you want to follow these 3 steps.
3 Simple Steps to Market your Appetizers
- Inform – Tell the customer that you have appetizers when handing out the menu by saying something like “Be sure to check out our appetizer section, they are amazing!”
- Testify – Before taking the order preferably before the customer makes up their mind, you want to testify by saying something like “you should try the Crab stuffed mushrooms with the lobster sauce they are my favorite!” Be descriptive when testifying but keep it short
- The Close – Now is the time to ask for the sale “so can I start you out with an appetizer?”
The idea here is to get the customer to think about the appetizer without forcing them to make a quick decision.
Now that you sold an appetizer to your table, it’s time to think about dessert. Before the meal is brought to the table you want to put the idea of dessert in their minds while they are still hungry. We are going to use the three steps again but with a little twist.
3 Simple Steps to Market your Desserts
- Inform – Go back to the table to let them know their food will be ready soon or to see how the Appetizer is say something like “I was in the kitchen and they just pulled the apple pie out of the oven it smells so good”
- Testify/Close – When you return to check the table say something like “we have some of the best pastry chefs here, our desserts are delicious. “Can I bring you a piece of pie?” Now if the customer says yes, great! If they say, no it’s ok, because we will take one last shot before they pay the bill.
- 2nd offer – When the customer asks for the check casually ask “So are you sure you don’t want that piece of that pie? I can put it in a small box so you can take it with you for later.”
Up-selling in a restaurant is like any other type of sales. If you train your servers properly to use suggestive selling they will market more appetizers, desserts, and gift cards. This leads to larger checks, higher tips for servers, and retention of those servers along with more revenue for your restaurant. You don’t have to follow this pitch word for word, make it your own and work it into the conversation naturally. Also, people are more inclined to buy from people they like so remind your servers to be polite, friendly, and smile, smile, smile!
More solutions for restaurants.
EdgeServ POS Releases Version 2020.5 with Pay at the Table Applications, Utilizing the PAX A920
SARASOTA, FL – EdgeServ POS today announced the release of version 2020.5 – with their exciting new, fully integrated, Pay at the Table solution.
This release utilizes the PAX A920 and an EdgeServ PAX App that is downloaded to the device from the Pax Store.
- The app interfaces with the POS system to allow a restaurant employee to log in and select a ticket for payment.
- The employee can accept the card from the guest, process the payment, and print vouchers for tip and signature from the device printer.
- The employee can also select the ticket and hand the device to the customer for the customer to complete the payment.
In addition, the 2020.5 release includes an Offline Store and Forward feature on the PAX A920, for the times that internet or communications to the processor are lost.
Gyula Lukacs, CEO of EdgeServ POS, said, “We are excited to release EdgeServ 2020.5, with our new Pay at the Table features. This true Pay at the Table application is something that restauranteurs, customers, and the reseller community alike have wanted and needed in the hospitality marketplace. Because of our reseller strategy and payment agnostic solutions, we strongly believe EdgeServ is the best product for POS Resellers.
Michael Tash, VP, Customer Relations of Frederick, MD based Essential Systems Solutions, said, “True Pay at the Table will help our local restaurants be more efficient as well as making their guests feel safer”
Chandra Spary-Kontinos, CEO, Card Systems, Inc./EdgeServ SWFL said, “EdgeServ’s Pay at the Table eliminates the need for a waiter or waitress to hand over their iPad and their customer’s card never leaves the table or their hand.”
Yassar Vargas – POS Channel Manager – TechXmart LLC said, “One more step into the future!”
About EdgeServ POS:
Founded in 2013, EdgeServ (formerly known as Synetouch) is based in Sarasota, FL. In 2019, a group of passionate veteran resellers acquired an ownership interest in the product and rebranded as EdgeServ POS.
EdgeServ 2020.5 is a completely redesigned point of sale restaurant software solution created for resellers by resellers who have decades of point of sale industry experience.
Through the Reseller Collaboration Company, EdgeServ POS offers a reseller program that enables new resellers to earn ownership in the company. “VARs can now earn equity in the product that they sell and support. This provides a great opportunity for resellers to increase the value of their business,” said Hunter Allen, President of Cervion Systems, an EdgeServ POS reseller and a member of the Reseller Collaboration Company.