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Choosing the right company for card processing


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I'm in the process of opening my shop, and initially had difficulty finding a company to accept credit cards. I searched online for hours, tediously comparing and contrasting products, services and fees. There are so many expenses that come along with opening a shop (licenses, advertising, equipment, etc). Needed to keep my overhead down and make things as seamless as possible.

 

My three criteria for choosing the right company for card processing:

 

No binding contract - Verizon suckered me into signing a 2 year contract last year, but try to avoid it all costs.

 

iPad POS System - There are tons of different back office software options for inventory control, but wanted something that would be compatible with my card processing to use at the point of sale. Fortunately, there's some good options for the iPad and apparently it will alert me when a part needs to be restocked. Also purchased a stand and cash register for the iPad. I haven't used it yet, but seems great!

 

Low credit card fees - The company I went with gave me 2.00% fixed rate for all cards including Amex, which is far lower than any other quote I received. And no contract. Make sure you do your homework before signing on the dotted line.

 

Pleas share your experience dealing with card processors?

 

 

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I got a killer deal through a friend of mine. I bought the machine outright which does chip cards, pin debit, it's a touchscreen standalone unit on Ethernet by first data. The key is to see what they charge as basis points. The interchange rate is fixed and nobody can do lower on that for you. But then they charge more for their own benefit. My provider is at 6 basis points. That's .06% on top of interchange. And $.15 for debit transactions. Key is to swipe as much debit as possible since it's nearly free. That brings your average down. I use jrctedit.com they are a 2 man crew and very helpful. Helped me every step of the way and answer emails and phone calls in a manner of minutes. I highly recommend him. I've had 3 others and they were all nightmares.

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  • Have you checked out Joe's Latest Blog?

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      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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