by Mike Peterson | Mar 7, 2025 | Uncategorized
Running a liquor store requires you to overcome specific operational obstacles. Business operations take lots of attention from managing a large inventory of products to processing quick and compliant transactions. Card Systems has liquor store POS solutions that optimize your operations by delivering better customer satisfaction and helping your business expand.
Streamlined Checkout for a Superior Customer Experience
A quick, efficient checkout process is critical these days. Liquor stores maintain large product selections that include various price levels together with promotional discounts, which can make the it complicated to checkout without a modern system. Our liquor store POS solutions enable you to connect barcode scanners and quickly search for products with multiple payment options through an easy-to-use interface. A system this efficient enables fast and incident-free customer transactions, providing every shopper with speedy and effortless checkout experiences throughout busy periods. Simplifying how customers checkout and pay allows better satisfaction while enhancing your staff’s operational efficiency.
Robust Inventory Management at Your Fingertips
Managing liquor store inventory requires an extensive amount of time from store managers. Our POS systems oversee inventory by monitoring inventory levels, instantly notifying staff about low stock and using past sales information to predict consumer demand. The systems manage all types of alcohol products including premium spirits and craft beers as well as various wines to maintain proper inventory levels. Advanced inventory management such as this leads to minimized sales losses due to no stock as well as reduced spending on excess inventory. This enables you to dedicate your time toward customer service and strategic planning instead of spending it on stock management details.
Ensuring Compliance and Enhancing Security
Simply selling liquor includes special obligations and requirements governed by law. Age verification procedures and strict regulatory compliance standards must always remain non-compromising factors in the business. Our liquor store POS systems include built-in age verification tools as well as secure ID scanning features to guarantee that all transactions follow local regulatory requirements. The system performs secure transaction record storage which simplifies auditing procedures and supports strong compliance standards. Your business can avoid legal issues and create a hazard-free responsible retail environment by enabling this automation for essential compliance within your operations.
Scalable Solutions for Every Business Size
No matter the size of your business, we have flexible solutions that can grow with you. Our liquor store POS solutions enable customization and scalability according to each business requirement. Our systems have been created to expand with your growing needs by offering customizable interfaces and features that connect to essential external applications such as accounting software. The adaptable nature of our POS systems guarantee that your business growth will never be limited by its functionality.
Data-Driven Insights for Informed Decision-Making
All businesses need data-based decision making because today’s enhanced volumes of information demand it more than ever. POS systems serve as transaction processing centers while simultaneously gathering customer behavior data, sales pattern information, and performance metrics. Analytics tools let you monitor daily store information to find the busiest times as well as fast-moving products. The collected data helps you create strategic decisions to optimize inventory management while improving marketing techniques which results in better profits. You can separate yourself and thrive in a competitive market by utilizing data-driven insights derived from detailed analytics.
Why Choose Card Systems?
Card Systems exceeds expectations by working alongside clients to achieve their business success. The team of experts at our company devotes itself to POS solution optimization for industry advancements as well as liquor retail requirements and adjustments. Our company delivers a modern system combined with our extensive 24/7 support including setup services and training alongside continuous technical assistance. With Card Systems, you’ll gain a reliable system packed with innovative features as well as unmatched support from experts.
Liquor store operations experience huge benefits when you select the correct POS system because efficiency and compliance have become essential requirements. We provide a comprehensive system which enables better checkout procedures and inventory control in addition to regulatory compliance and data analytics capability. Our innovations enable businesses to create more satisfied customers along with lower operational expenses and development potential for ongoing business growth. Contact us today to schedule a demo and see how our liquor store POS solutions can transform your business.
by Mike Peterson | Mar 3, 2025 | POS Systems
If you’re still handwriting checks the old-fashioned way, you may be holding back your restaurant from reaching its full potential. It’s time to modernize and serve your guests quicker and more accurately. The best upgrade you can make is a modern POS system that takes orders at the table, sends them directly to the kitchen, and processes payments right on the spot.
The Limitations of Handwritten Checks
Handwritten checks are still common in many establishments, yet they come with quite a few issues. An order written down incorrectly or misunderstood handwriting can lead to kitchen mistakes and unhappy customers. Also, the extra steps required to bring handwritten orders to the kitchen increase delay times. These issues combined result in customers waiting longer and possible billing errors, which will ultimately create a decline in customer satisfaction.
The Modern POS Advantage
Modern POS systems, like those offered by Card Systems, allow for a seamless experience from the moment guests are seated to the time they leave with a smile.
1. Taking Orders at the Table
With a mobile or tablet-based POS, servers can input orders right at the table. This direct communication removes the need for extra steps, reducing the risk of miscommunication and speeding up the ordering process. The result? A more personalized guest experience and faster service.
2. Firing Orders to the Kitchen
Most POS systems today enable the kitchen to operate smoothly with the help of printers or Kitchen Display Systems (KDS). When an order is placed, it’s instantly sent to the kitchen. This ensures accuracy and allows the chefs to prepare the dishes in a timely manner. Synchronization allows fewer mistakes and a better working environment during peak hours.
3. Taking Payments at the Table
One of the greatest benefits of a modern POS system is the ability to take payments at the table. With on-the-spot payment options, guests can be quickly settled up, allowing the staff to move on to other tables. This improves customer experience while boosting both table turnover and revenue.
The Card Systems Difference
Our modern POS solutions are designed to be easy to use, reliable, and able to integrate all aspects of your process. Whether you’re a small bistro or a busy diner, upgrading to a modern POS system can elevate your business.
Book a demo today to see exactly how a modern POS can revolutionize the way you operate. It’s time to leave those those handwritten checks in the past and step into a future where efficiency and customer satisfaction go hand-in-hand.
by Mike Peterson | Jan 16, 2025 | Clover, POS Systems
As a business owner, you know all too well that a working, reliable point of sale (POS) system is more than just a tool, it’s the keystone of success in smooth operation and good customer service. However, many businesses still use outdated POS systems, and they have underestimated how much of a risk and how inefficient it is. With technology ever advancing, a POS system upgrade is becoming even more imperative, and scenarios like the Clover devices reaching end-of-support in February 2025, make clear just how important it is to keep up with tech.
Even the most respected POS systems cannot fully help your business to grow to its full potential if there are hidden costs and limitations. Older systems are disadvantageous for businesses as they offer security vulnerabilities and miss opportunities to increase efficiency. No matter what your industry is, this article explains why upgrading your POS system is a smart investment and how it can revolutionize your operations.
The Hidden Costs of Outdated POS Systems
Increased Maintenance Costs
POS system repair and maintenance is often required frequently, and the old POS systems can become pricey over time. But as legacy hardware is phased out by manufacturers, businesses may have to pay higher repair fees or find costly third-party parts. The costs of these recurring expenses can outweigh the upfront investment of a modern system; therefore, upgrades are more financially sound in the long run.
Security Vulnerabilities
The biggest risk of using out-of-date POS systems is they lack robust security features. Older systems can fail to receive critical software updates, leaving them vulnerable to cyberattacks and data breaches. This can be very expensive for businesses that are handling sensitive customer information. In addition, old systems may not be compliant with Payment Card Industry Data Security Standards (PCI DSS) and subject businesses to potentially thousands of dollars in fines and legal headaches.
Limited Features and Efficiency
Features such as contactless payment, mobile wallet integrations, and real time inventory tracking make modern POS systems so much easier to work with and provide a better customer experience. However, out-of-date systems can’t keep up, are slower at processing transactions, and can make customers unhappy. Not upgrading means missing out on the opportunity to optimize workflows and adopt new technology that helps your business be more productive.
Benefits of Upgrading Your POS System
Enhanced Operational Efficiency
A POS system upgrade can change the way you do business. Modern POS solutions make transactions go much more quickly, cutting down on customer wait times and overall satisfaction. Automated inventory tracking and real time sales reporting are features that enable businesses to stay on top of affairs without any manual intervention. Additionally, these systems are fully compatible with accounting and customer relationship management (CRM) software, reducing the back end and giving business owners and staff more time.
Improved Security
Any business dealing with customer data knows security is a top priority, and modern POS systems are built with state-of-the-art safeguards to prevent breaches. Features of newer systems include end-to-end encryption, tokenization, and regular software updates that deal with emerging threats. Upgrading also helps protect the businesses’ customers, as well as comply with industry standards like PCI DSS. This also assures customer trust without putting oneself at risk for fines or penalties.
Cost Savings
The initial investment of upgrading to a new POS system is paid for immediately, but the long term savings are substantial. Less downtime and fewer repair expenses are the byproducts of more reliable modern systems. Businesses also save on fees for outdated devices, like Clover’s $99.95 per device charge beginning February 2025. There are upgraded systems that reduce or eliminate your payment processing fees, potentially saving thousands every month.
Scalability for Future Growth
With growing businesses, the demands of the operations grow too. Modern POS systems are built with scalability in mind, and it’s easy to add new features or hardware as needed. Let’s take a few examples: businesses can merge their online and in-store sales channels, add mobile payment options, or expand reporting capabilities without much disruption. This flexibility guarantees that the system will grow with the business and will accommodate future growth without a large reworking.
Industries That Benefit from Modern POS Upgrades
Retail Businesses
For retail businesses, upgrading to a modern POS system offers so many benefits. One of the biggest benefits is accurate inventory management, with new systems giving retailers the ability to monitor stock levels in real time, without costly stock-outs or excessive stock. In addition, the advanced reporting features enable a business to identify sale trends and customer preferences to inform better decisions regarding product offerings. They also strengthen the customer experience by enabling faster checkouts as well as accepting credit cards, mobile wallets, or contactless payment.
Restaurants and Food Services
During peak hours, restaurants and food service businesses can’t afford to be inefficient and slow. With a modern POS system, servers have the ability to place orders directly in the system from a tablet or handheld with features like table side ordering. It eliminates errors, and orders get to the kitchen in an instant, which means faster service. Real time sales data is also used by restaurants to manage inventory, optimize menus, and reduce waste. New POS systems work well for fast food or food trucks as they can easily integrate into online delivery platforms and have loyalty programs that attract repeat customers.
Service-Based Businesses
Modern POS systems with built-in scheduling and appointment management features are a huge help to service-based businesses, such as salons, repair shops, and fitness centers. It becomes easy to make, change, or cancel appointments without the hassle, for both the customers as well as the staff. Secondly, by incorporating a CRM tool with the POS, service providers can track customer preferences, send personalized offers to them, and build long term loyalty. Upgraded systems also make the payment processing processes easier — your business can process payments for multiple forms of payments such as subscription billing and payment plans.
E-Commerce and Omnichannel Businesses
Today’s retail landscape is filled with businesses that do business across both physical and online channels. Modern POS systems bridge this gap by bringing these platforms together and integrating inventory, sales data, and customer profiles under one roof. It means that there will be consistent pricing and promotions across all channels and simplifies order fulfillment. For instance, a customer can order online and pick up in store or return an in-store purchase by mail. Businesses that provide a unified shopping experience through an omnichannel capable POS system meet the changing customer’s expectations.
Clover and Other POS Solutions: Why the Time to Upgrade is Now
Clover Devices Reaching End of Life
February 1, 2025 is a critical date if your business is using a Clover POS device. After this date, Clover is saying it will no longer support several of its devices, including the Clover Mini, Station, and Flex. Unless they upgrade, businesses using these outdated systems will have to pay a $99.95 per device fee. The resulting combination of urgency and opportunity means that businesses can now evaluate their current POS setup and upgrade in a cost-effective way.
With upgraded devices, businesses don’t have to pay extra and also enjoy the additional capabilities and security features. Card Systems assists in the smooth transition to new systems with affordable, efficient upgrade solutions and local support.
Exploring Alternatives to Clover
Alternatively, businesses may need to consider upgrading to alternatives to Clover devices. There are a lot of solutions out there like Sound POS, RetailzPOS, and EdgeServ, all of which provide a lot of features, from advanced reporting to industry specific tools. For instance, EdgeServ is a go-to among restaurants as it provides table management and delivery integrations, while Sound POS goes into retailers from the angle of inventory management.
When choosing a new POS system, businesses will want to think about the following: compatibility with hardware, compatibility of software, ease of use, and quality support to its merchants. These elements are evaluated to assure that the chosen system will meet today’s needs and tomorrow’s goals.
Tailored Solutions for Your Business
No two businesses are alike, so choosing the right POS system isn’t based on which brand is popular. For example, a restaurant might want table side ordering, while a retail store may be more interested in advanced inventory tools. On the other hand, service-based businesses can make the most out of scheduling and CRM integrations.
Here at Card Systems, we have over 30 years of experience and 24/7 local support in Southwest Florida and help businesses identify and implement solutions that best fit their needs. This personalized approach means that we provide a smooth transition and ongoing support, thereby minimizing downtime and maximizing efficiency.
How to Upgrade Your POS System Without Disruption
Steps to Evaluate Your Current Setup
Before you upgrade, the last thing you want to do is upgrade away from the areas of improvement in your existing POS system. The first thing to do is make a checklist of what hardware and software you currently have. Take a look at factors such as transaction speed, security features, and convenience for current payment methods. Find out if your system will facilitate omnichannel operation or connect to solutions such as inventory management or CRM software. Identifying these limitations will enable you to select features in your next POS system.
Planning Your Transition
Good POS system upgrade planning is needed to minimize disruption to daily operations. Start by scheduling the transition during low traffic times in order not to inconvenience customers and staff. Give staff time to be trained on the new system so they know what they’re doing before it goes live. Once you have the new system, test it thoroughly to identify and solve any potential issues. If you take these proactive measures, you’ll avoid disruptions and continue business as usual.
Partnering with Trusted Providers
Upgrading your POS system is a big investment and choosing the right provider can be a game changer. Choose a partner that’s reliable, transparent, and expert in the industry you’re in. Card Systems, with over 30 years of experience and 24/7 local support in Southwest Florida, is ready to help with your business’s unique requirements. You will be guided through the upgrade process by a trusted provider who will also offer personalized solutions and make sure your new system is ready to perform at its peak.
The Future of POS Technology
Trends Shaping the POS Landscape
Innovation and customer centric technologies drive the future of POS systems. POS solutions are being increasingly used to integrate artificial intelligence (AI) that can give businesses predictive analytics such as anticipating inventory needs, customer preferences, and sales trends. Another emerging trend is voice-assisted technology which allows for businesses to perform transactions or operate through simple voice commands. Such advancements increase efficiency and allow businesses to give their customers highly personalized experiences.
Another big trend is the rise of mobile POS systems, which give businesses that are on the go the flexibility and portability they need. Mobile POS devices enable businesses to serve customers from food trucks to pop up shops with robust functionality. Also, cloud-based POS systems are becoming the norm, allowing secure, real-time access to data from any location and keeping businesses nimble and connected.
Preparing for Tomorrow
Businesses need to not only upgrade their current POS systems but are also required to upgrade for the future technological advancements. POS technology is not a one size fits all, so adopting a forward thinking approach to POS technology will allow your business to be agile and ready to take advantage of new opportunities.
Upgrading isn’t just about catching up — it’s about putting your business in a position to lead your industry. A modern POS system would serve as a base for innovation, allowing you to keep up with the changing market demands and surpass customers’ expectations. Today’s investment in advanced technology is an investment in long term success and growth.
If you own a business and you still have an outdated POS system, there is a better way. Modern POS systems can help businesses in all industries avoid unnecessary fees such as Clover’s upcoming $99.95 charge for end-of-support devices, as well as increase operational efficiency, security, and scalability.
If you run a retail shop, restaurant, service-based business, or e-commerce platform, your POS system may need to be upgraded to keep your business competitive, secure, and future ready. Working with a trusted provider such as Card Systems ensures a smooth transition, affordable solutions, and ongoing support that meets your needs. Don’t wait for downtime, customer dissatisfaction, or compliance issues to force you into upgrading – take action today and set your business up for success in the long term.
Contact Card Systems for expert help, local support, and a plan tailored to your business’s specific needs. The future of your business starts with a single step: upgrading your POS system.
FAQs
- When is the deadline to upgrade Clover devices?
Older Clover devices will be charged $99.95 per device on February 1, 2025, when they become outdated.
- What does upgrading save you in the long run?
Modern POS systems cut downtime and eliminate repair and maintenance costs associated with old systems, and they make operations run more efficiently, saving money. Plus, they can reduce or eliminate payment processing fees through dual pricing.
- Is it possible for small businesses to afford modern POS systems?
Indeed, many POS providers provide scalable and cost effective solutions that fit any type of business.
- How do I choose a new POS system?
You need to consider things like compatibility with your industry, necessary features, price, ease of use and the support that the provider offers.
- What can Card Systems do to aid in the transition?
With over 30 years of experience, Card Systems provides affordable upgrade solutions, 24/7 local support, and will work hard to make the transition seamless for your business.
by Chandra Spary-Kontinos | Dec 27, 2024 | POS Systems, Business to Business News, News
Could a Point of Sale save you on taxes this year? The answer is, most likely, yes! As the end of the year approaches, it’s time for business owners to start thinking about ways to reduce their tax burden. One effective strategy is to take advantage of the Section 179 tax deduction. This provision in the U.S. tax code allows businesses to deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. Doing so can significantly lower your taxable income and, consequently, your tax liability.
Section 179
Section 179 was designed to encourage businesses to invest in themselves by purchasing equipment and software. Unlike traditional depreciation, where the cost of an asset is spread over several years, Section 179 allows you to deduct the entire cost in the year the asset is placed in service. For 2024, the maximum deduction limit is $1,160,000, and the total equipment purchase limit is $2,890,000. To take advantage of Section 179, the equipment or software must be used more than 50% of the time for business purposes.
Qualifying purchases include:
Consider upgrading your business with a new POS system!
It’s important to note that not all business expenses qualify. Real estate and inventory are examples of non-qualifying expenses. One of the key strategies to maximize your Section 179 deduction is to make your purchases before the end of the year. By doing so, you can ensure that the equipment is in service during the current tax year, allowing you to take the full deduction. This can be particularly beneficial if your business has had a profitable year and you’re looking for ways to reduce your taxable income. While the immediate tax savings are a significant benefit, investing in new equipment and software can also improve your business operations. Upgrading your machinery can increase productivity, enhance the quality of your products or services, and even open up new revenue streams.
Updated Technology
Additionally, newer technology can lead to long-term cost savings through improved efficiency and reduced maintenance costs. As the year draws to a close, it’s a good idea to review your business’s financial situation and consider making strategic purchases that qualify for the Section 179 deduction. Doing so allows you to enjoy substantial tax savings while investing in your business’s growth and success. Always consult a tax professional to ensure your purchases qualify and maximize your tax benefits.
by Chandra Spary-Kontinos | Nov 22, 2024 | Bank gift cards, Data Security Credit Card, Featured, Gift Cards, Level III B2B, Mobile Processing, News Alerts, Pin and Chip, Safety Tips
12/9/24 UPDATE:
A U.S. District Court Judge ruled the enforcement of the BOI filing is unconstitutional. However, until FinCEN takes the filing off their website, you should still consider filing, just in case.
Penalties will begin after January 1st 2025
Have you heard of FinCEN and the newly required BOI reporting? FinCEN, which stands for Financial Crimes Enforcement Network, is part of the US Department of Treasury. This department is in charge of preventing financial crimes and promoting national security. The newly required BOI (Beneficial Ownership Information) report was created to help FINCEN on its mission by ensuring more transparency of ownership for companies operating in the US. Reports are due January 1st, 2025, for companies that began before 2024.
The report is easy to file online, or you can fill out the PDF and submit it.
You will need:
- Company name
- Tax ID
- Location
- Owner’s name
- Owner’s date of birth
- Owner’s address
- A government-issued ID or a FinCEN ID
You must file a BOI report for each owner who owns 25% or more of the company.
File here https://boiefiling.fincen.gov/fileboir
Instructions on how to file https://boiefiling.fincen.gov/help
All the information you need can be found here https://www.fincen.gov/boi
by Mike Peterson | Nov 4, 2024 | Gift Cards, Merchant Services, News
Small businesses everywhere are gearing up as the holiday season approaches for the busiest shopping months of the year. With shoppers looking for quick and versatile gift ideas, gift cards for small businesses have emerged as one of the most popular holiday items. Not only do they provide convenience to the customers, but they also provide massive benefits to small businesses. Gift cards are a win-win for both buyers and sellers, and from free marketing opportunities to additional revenue streams, there’s plenty to like about them.
In this post, we’ll talk about how gift cards help small businesses during the holidays and explore some creative ways to promote them.
Why Small Businesses Should Stock Up on Gift Cards for the Holidays
The most simple and powerful way to attract new customers and boost sales is with gift cards. They’re especially great for gifts during the holidays, as they’re ideal presents for those friends and family that are hard to shop for. Stocking up on gift cards for the holidays is more than just selling a product, it’s giving your customers the gift of flexibility. It’s especially handy when people are trying to manage a bunch of lists, gifts and schedules.
The main thing for small businesses is to have a lot of gift cards and put them out everywhere. Make sure you have your gift cards visible at checkout, on your website, and in any seasonal promotional materials. You’d be surprised at how gift cards help small businesses during the holidays by providing an easy, attractive option for last-minute shoppers.
The Benefits of Gift Cards for Small Businesses: Free Marketing in Every Gift
One of the best parts about gift cards for small businesses is that they’re essentially free advertising. When a customer buys a gift card, they could be bringing your business to someone new. This new customer would not have come into your store or visited your website if it weren’t for that gift card.
Gift cards are especially powerful because they have a personal endorsement from the giver. Gift cards for small businesses are given to people by their friends and family who really like the business they are giving the gift card to, so the gift feels more trusted and meaningful. That kind of word-of-mouth recommendation is priceless for small business. The more you introduce your brand to new customers, the better the chance you have of turning them into loyal patrons.
It’s a great idea to take this effect a step further by creating branded, visually pleasing gift card designs. These cards are mini billboards for your brand and guarantee that your business makes a good impression even before the gift card is redeemed.
Creative Ways to Sell Gift Cards for Small Businesses
One easy way to boost your gift card sales is to incorporate them into seasonal raffles, gift baskets, or holiday bundles. Here are a few creative ways to sell gift cards for small businesses this holiday season:
- Holiday Raffles: In store or online, host a holiday raffle in which customers can win a gift card. This can also get people excited about your gift cards and will increase your foot traffic or website visits. Likewise, many customers who have not won will end up buying a card.
- Gift Baskets or Bundles: Make gift baskets with small gift cards which include your store’s popular products. If you’re a salon, this works great for a “spa day” package, or if you sell gourmet treats, this works great for a “movie night” bundle. This card encourages people to return and explore what you offer.
- Buy One, Get One (BOGO): During the holiday season and in the days following Christmas, think of trying a “buy one, get one half off” promotion on the gift cards. For instance, customers purchase a $50 gift card and receive another $25 of the same to themselves or to gift to someone else.
This holiday season, add a personal touch to your gift baskets with gift cards for small businesses. They’re a meaningful way to support local shops and offer unique options for your loved ones.
Unredeemed Gift Cards: The Secret Revenue Boost for Small Businesses
Did you know that a lot of gift cards never get redeemed? Research found that a good chunk of gift cards for small businesses never get fully redeemed, and often never are, as recipients forget or gift cards go to waste. For small business owners, this means an immediate kick in revenue without having to order more inventory or add more service.
Extra revenue without additional expenses is provided by unused or partially redeemed gift cards, sometimes called ‘breakage’. During slower times after the holidays, when every little bit of money counts, this financial benefit is especially useful for small businesses.
This added revenue cushion is good, but keep in mind that the goal is still to provide a great experience to every customer who visits, whether or not they’re redeeming a gift card. Each visit is a chance to make a one-time gift card holder a regular customer.
Using Gift Cards as a Year-Round Marketing Strategy
Gift cards aren’t just for holiday sales, they’re a year-round marketing tool. Some people purchase gift cards as gifts during the holiday season, and people may still purchase gift cards for birthdays, anniversaries, graduations, and other celebrations even after the holiday season. If you make gift cards a regular part of your promotions, you’ll continue to get new customers all year long.
To keep gift cards top of mind, consider these strategies:
- Email Reminders: Seasonal emails like promoting gift cards and how they can be the perfect gift for any occasion.
- Social Media Promotion: Post photos on social media of your branded gift cards. Help customers show friends and family how much they would appreciate a card and how easy it is to pick one up.
- Incentives for Use: Challenge current customers to redeem their gift cards using seasonal or limited time discounts. For instance, you can give a small discount on the first-time purchase with a gift card and thus convert new customers into repeat buyers.
Ready to Start Selling Gift Cards for Your Small Business?
We make it easy for small businesses to offer gift cards at Card Systems, Inc. We’re here to help whether you are just getting started or stocking up for the busy holiday season. Our gift card solutions are easy to use, affordable and streamlined so you can provide your customers with what they need most—your service.
We can help you make gift cards a profitable part of your business this holiday season. Don’t wait, reach out today to learn more about how easy it is to get started!
References:
by Mike Peterson | Oct 30, 2024 | Merchant Services
Businesses have to evolve to keep up with customer demands while still protecting themselves, especially in the payments space. Managing chargebacks is one of the challenges that every business faces, and if left unchecked it can have a huge impact on your profitability. In this article, we’ll discuss how to prevent chargebacks, what they are, and why they matter to protect your business’s bottom line.
What is a Chargeback?
In order to prevent chargebacks, you need to know what they are in the first place. A chargeback is a reversal of a transaction started by a customer through their bank. It’s essentially a customer request to dispute a charge they see on their statement. A chargeback is different from a simple refund (which is done directly between customer and business) in that the customer’s bank gets involved. If a chargeback is filed, the bank will look and see if the customer has a legitimate cause for dispute, and if they do, the bank can refund the customer directly.
Chargebacks were originally created to protect consumers from fraud and unauthorized transactions, but they’ve evolved. Today, the reasons for which many chargebacks are filed include not just fraud, but simple dissatisfaction of the product, buyer’s remorse, or even intentional chargeback abuse (commonly referred to as “friendly fraud”).
Why Chargebacks Are Costly for Businesses
Chargebacks aren’t just reversing a single transaction, they come with additional, often hidden costs which quickly add up. Here’s how chargebacks can hurt your business:
Lost Revenue and Product
If it’s a physical good, businesses also lose the product itself in most cases, and the revenue from the sale. You might not get the product returned, but still be out of pocket.
Chargeback Fees
The chargeback fees your payment processor charges for each chargeback filed range from $20-$100 per dispute. This is to say that each chargeback could be more expensive than the transaction amount alone.
Higher Merchant Fees
If you have consistent chargebacks, providers will see your business as higher risk and will charge you higher processing fees. If your chargeback rate goes high enough, you could even lose the ability to accept payments.
Damaged Customer Trust
If you’re noticing frequent chargebacks, it means there’s something wrong with customer satisfaction or trust, something that can damage your reputation and affect customer loyalty.
Risk of Being Blacklisted
If your business is flagged or blacklisted by the banks and payment processors, excessive chargebacks can be the reason. This blacklist is very hard to remove and makes it almost impossible to find processing services.
Common Causes of Chargebacks
It’s important to know why chargebacks happen to reduce them. Here are some of the most common reasons:
Fraudulent Purchases
The leading cause of chargebacks is unauthorized transactions. But these issues must be guarded against through fraud prevention tools.
Customer Confusion
Customers sometimes don’t realize they’ve made a purchase on their bank statement or forgot about a subscription charge and end up disputing it.
Product or Service Dissatisfaction
If a product doesn’t say or do what it should, that can result in disputes. Delayed shipments can also cause complaints and chargebacks.
Friendly Fraud
If a customer files a chargeback on a legitimate transaction, this is called chargeback abuse. These can be due to buyer’s remorse, accidental disputes, or the desire to keep the refund and the product.
How to Prevent Chargebacks
With the right strategies, you can lower your risk of chargebacks and protect your business. Here are some effective methods to prevent chargebacks:
1. Fraud Detection and Prevention Tools
If your business processes high volumes of transactions, it is important that you implement fraud detection software. Fraud tools such as address verification, CVV checking, and 3D Secure are tools that prevent fraud transactions from getting through to your system.
2. Clear and Honest Product Descriptions
One of the biggest causes of chargebacks is the customer’s dissatisfaction with a product or service. If you can give them some accurate, detailed descriptions and set proper expectations this can go a long way in minimizing the risk of it. Tell customers what delivery time, refund policy, and other important details they should know before buying.
3. Detailed Records
The more information you keep on each transaction, the better you can dispute illegitimate chargebacks. To support you if a chargeback is filed, keep track of order details, communication history, shipping documentation, and delivery confirmations.
4. Chargeback Ratio Tracking
It’s good practice to regularly check your chargeback ratio, or the percentage of chargebacks versus total transactions. Staying in good graces of payment processors involves keeping your chargeback ratio below 1%.
5. Improved Customer Service
Investing in a responsive customer service team can help to resolve an issue directly with the customer rather than with the customer and banks, hence reducing the chances for a chargeback. Customers need to have an easy way to talk to you in case of questions or complaints and be proactive in giving refunds or exchanges when need be.
6. Recognizable Billing Descriptors
Default statement descriptors can often be unclear, leaving customers unable to recognize charges. Even valid transactions can prompt customers to dispute a charge with their bank if it’s unfamiliar. Notifying the merchant processor and POS company and using a clear statement descriptor helps lower the risk of chargebacks and avoids confusion. You can also add a customer service number so that if they need to reach out to you, they can do so instead of going about starting a dispute.
7. Well-Communicated Policies
Good clear policies around returns, refunds, cancellations help to control customers’ expectations. Reduce misunderstandings and prevent chargebacks by displaying these policies prominently on your website and in transaction receipts.
How Card Systems Can Help Protect Your Business
At Card Systems, we know how important it is to prevent chargebacks and protect your business revenue. Our secure payment processing solutions have built-in fraud prevention tools, chargeback management assistance, and account monitoring to help you proactively combat disputes. We can help you prevent chargebacks and grow your business.
Find out more about how Card Systems can protect your transactions and improve your customer experience by contacting us today!
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by Mike Peterson | Oct 16, 2024 | POS Systems, News Alerts
The aftermath of a storm can be overwhelming, especially if you have a small business that depends on a steady stream of operations to keep afloat. Storms interfere with the business flow through lack of infrastructure and power outages that merchants cannot resolve on their own. We know these challenges and at Card Systems, Inc., we’re here to help get your business back up and running as quickly as possible after a storm. Here are some ways our post-storm payment solutions and relief can aid in getting you back to business.
Rapid Replacement of Damaged Equipment
One of the most critical issues after a storm is damage to your point-of-sale (POS) systems and credit card terminals. Without proper equipment, you lose the ability to take payments, resulting in lost sales and unhappy customers. That’s why we provide rapid replacement services to keep downtime to a minimum.
We react quickly and take action, providing you with replacement terminals to get you processing payments quickly again. We have the tools and the expertise to help if your equipment was physically damaged or has connectivity issues.
Temporary Equipment Solutions
Sometimes replacements will take some time if there are many devices involved. We offer temporary equipment solutions to help keep your business moving. These backup devices make sure that even during wait times, you can keep on taking payments without a hitch. With temporary equipment, you are flexible enough to keep operations going while replacements are being completed.
This allows you to continue to make money and avoid the disruption of your business in the long term. Surely continuity is important in difficult times.
No-Cost Payment Processing
Managing cash flow is critical after a storm, with the expense of repairs and recovery on top of that. To help you ease this burden, we have payment processing options with no upfront costs. We help you focus on rebuilding without further financial strain, by allowing you to process transactions without the need to worry about fees.
In tough times every dollar counts, and we want to ensure your business can operate as smoothly as possible without the extra pressure of processing fees. We want to help you manage cash flow and keep things moving when the going gets tough.
Internet Failover Solutions
If you’re not willing to sacrifice your internet connection for the sake of your business, then you’re not willing to sacrifice it for the sake of your customers. A business that relies on a constant internet connection is hit hard by even a small outage. That’s where our internet failover solutions kick in.
Even when your primary internet connection goes down, our systems make sure that your payment processing and POS system continues. With secondary connections such as cellular networks, you can continue to accept payments, providing your business the resiliency it needs to overcome post storm challenges.
Real-World Impact: Hurricane Milton hit many restaurants along the west coast of Florida and brought widespread internet outages. Many businesses were affected by that outage for several days. Thanks to our internet failover setup, the credit card payments continued uninterrupted, without any loss of sales.
Around-the-Clock Local Support
When things get tough, you need a team that can provide rapid, reliable support that understands your business. Card Systems offers local support 24/7, so that when you call, you will be helped by someone who knows your business and your community. We are ready to troubleshoot problems, give guidance, and make sure your systems are up and running as soon as possible.
We are only a phone call or quick visit away. No matter what the size of the problem, our local support team is prepared to help your business recover and thrive after a storm.
Business Continuity Planning
The best way to prepare your business to weather any storm is to be prepared. We will help you assess your current systems to develop a robust business continuity plan. We’ll recommend the best strategies to keep your operations up and running, even if the internet fails.
Having a great continuity plan allows you to react fast when disaster happens, minimizing downtime and keeping your customers happy.
Let Us Help You Rebuild
During difficult times, we are committed to supporting businesses in our community at Card Systems, Inc. We have the solutions to keep you operational and serve your customers; from rapid equipment replacement to internet failover and 24/7 local support. A storm doesn’t have to put your business at risk.
If you need assistance with your recovery efforts, contact us today at (239) 549-5055 or email support@cardsystems.com.
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Together we can make sure that your business continues to thrive through any challenges that come your way.
