Quantcast
Jump to content


Accept Credit Cards at 0% cost 


Recommended Posts

Accepting Credit Cards at 0% cost 

Credit card fees for merchants have drastically gone up in recent years, especially for reward card purchases, making credit card fees one of businesses largest expenses.  Interchange fees for reward cards have gone up by 24% in a recent 4-year period. The highest reward card fees to a merchant are now around 3% of the transaction total (not including what the markup from whomever sold you their credit card processing).  Many people have probably seen Samuel L. Jackson TV commercials promoting Capital One’s Quick Silver credit card, paraquoting, “The Quick Silver credit card will give you 1.5% cash back on all of your purchases.” Who do you think is actually giving these customers 1.5% of their cash back on their credit card purchases?  You guessed it- you, the merchant.

What’s a business owner to do?

  • Do nothing
  • Raise the products or services prices to account for higher credit card fees
  • Offer a cash discount
  • Don’t accept credit cards
  • Or, provide your customer a choice when they pay with a card to pay a surcharge or not- 0% credit card costs to the merchant

All of these options have their pluses and minuses, but with the ever higher and higher fees credit cards are charging to merchants, there are other methods where technology and consumer choice can help mitigate these fees.

0% credit card cost is relatively new legal method of accepting card payments in the US.  The credit card companies fought to not allow consumers a choice to pay a surcharge with credit card or zero fees with a debit card.  The credit card companies make much less money with a debit card opposed to a credit card... This case went all the way to the US Supreme Court this decade.  The credit card companies lost and consumers being able to choose to pay a surcharge with a credit card or zero fees with a debit card is now legal in 45 states.  The remainder of the 5 states will likely be joining the other 45 states in the near future as there are still ongoing court proceedings.

The US is now following the Australian model which has been allowing merchants to surcharge since 2003.  Currently, 42% of all merchants in Australia pass on a surcharge to customers who use a credit card.

Here’s an option that you might not know about, until now:

When your consumer decides to pay with a card, they have two options.  If they use a credit card, a small fee will be charged to their card. If they use a debit card, there will be no fee to the consumer.  Our software does all the work and explains to the customer of their choice prior to the charge being authorized.

What exactly are the costs to the merchant and to the consumer?

For credit cards: Merchant pays zero credit card fees, the consumer pays 3.5% of the transaction amount

For debit cards:  Merchant pays 1% + $0.25/authorization, the consumer pays Zero fees

Facts:

  • A card swiper is not needed: credit card information can be typed in a phone, computer over the phone and in-person.  A 'brick' card swiper/dipper is available if needed.

  • Works with online sales/invoices

  • Simple application process, no upfront cost, no term contract, no cancellation fee and complies with all credit card rules and regulations

  • If you auto batch by 8:00 PM EST, you get your money the next day

  • Up-and-running within a week

 Benefits to the Merchant:

  • Being fair to your consumer by offering them a choice to pay a fee or not, while eliminating your credit card fees, which can be up to 3% of your total credit card sales.

  • Simple to use and all charges are viewable through real-time online portal.  

  • Support: our team is there when you need us, but it truly is very straight forward.

We realize this solution is not for everyone.  But, you now have the opportunity to no longer pay credit card fees, forever.  Reach out through ASO or here if you are interested in discussing further: https://www.lomasolutions.com/contact


View full article

Link to post
Share on other sites


  • Similar Topics

    • By carmcapriotto
      Bruce Howes has specialized in the service of European automobiles since he was 21 years old. He is a Bosch Trained technician, with extensive experience in BMW, Mercedes and Volvo. Bruce’s business background began with his family business, his grandfather owned an automotive repair shop during the 1920s.
      In 2003 he opened the Atlantic Motorcar Center in Wiscasset, ME. Bruce leads a team of highly trained and certified technicians. His business takes a rather unique approach to customer service, focusing on relationships with customer and car. Bruce shares “When a customer comes in and spends more time sharing their son’s baseball game, or showing us photos from their last vacation, then I know I’ve done my job.”
      Bruce is also a Dale Carnegie graduate and former volunteer with Junior Achievement. Listen to Bruce's previous episodes HERE
      Tom Lambert, owner of Shadetree Automotive. Tom Lambert got his start right at home. His dad and uncles always had projects going on in the home garage. During the summer vacation, his dad would have Tom remove engines from the vehicles that were being sent to the local machine shop for rebuilding.
      In the past three and a half years, Tom and his dad have made strategic adjustments in the business. They are now a $2.5 million dollar a year shop with 10% annual growth and profitability. They continue to improve every day. Tom says he has the best team and a strong culture. In January 2017 Tom bought his dad completely out of the business.
      Tom struggled for many years because he had lost his passion for the auto industry. After receiving all the guidance and coaching over the past few years, he is rejuvenated and has more passion than ever and is currently doing everything he can to pay it forward to other local shop owners. Tom’s previous episodes HERE.
      Russell Crosby is the owner of Russ's Wrench Auto Repair located in Clinton, NJ.
      Key Talking Points
      Not meeting customers expectations- losing the opportunity to make it right Follow-up calls/email/texts- saying thank you without asking about another appointment, 95% will bring back once you have a conversation. Many won’t let you know what went wrong, reach out and openly accept feedback.   70% of comebacks are communication issues- customer to advisor, advisor to technician, technician to advisor  Quality control- tech driving car to verify correction, QC checklist, senior service advisor driving car DVI to minimize comebacks- accountability for comebacks and confidence when talking to a customer Logging comebacks- google spreadsheet, time/repair/cause. Look for trends in comebacks. Is it trainable? More detail the better for service advisors and technicians- service advisors need training on asking customers the right questions  Customers often withhold information of what’s wrong or what it’s had done previously because they think it’ll cost less- build rapport and trust with customers and ask open-ended questions for discussion.  Let service advisors advise- are they overloaded with estimates/scheduling/answer phone etc? Consider bringing another employee on board. Give them time to talk on the phone and communicate with customers instead of rushing through it.  “Caring for cars and people”- value customer and their vehicle  Leadership- set goals, get team on board, measure the goals, provide feedback Team culture-making mistakes doesn’t mean you’re kicked out the door. Failure is learning. When mistakes happen bring it up when you’re one on one.  Perfection doesn’t exist- give grace to customers and employees and make it right. Progress, not perfection.  “Perfection is not attainable, but if you chase perfection, we can catch excellence.” Vince Lombardi Feedback- ask new customers why they chose you and what is frustrating about repair work? Ask existing customers what frustrates them about owning a vehicle, and what frustrates them about having it serviced A special thanks to Bruce Howes, Tom Lambert and Russell Crosby for their contribution to the aftermarket. Books Page HERE Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes. Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Mobile Listening APP’s HERE
      Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.
      Buy Carm a Cup of Coffee 

      This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com

      This episode is brought to you by Shop Marketing Pros. Your guides are Kim and Brian Walker with a rich history as shop owners and industry veterans. When someone searches for a shop, who are they finding? Your competitors? It should be you! The good people over at Shop Marketing Pros know how to drive website traffic and make Google work for you! www.shopmarketingpros.com
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      How to Have a Four Day Work Week with Eric Henley [RR 627]
      Eric Henley, owner of H-Teck Auto Care in Gray, TN, is 4th generation of mechanical repair. He received an associate's degree in Auto Service Technology and spent over 15 years at a Honda dealership. Eric started H-Teck Auto Care in 2006 with just him, his dad and his wife. Going on over 15 years in business he now has a 6 bay shop.
      4 generations in the automotive industryGrandfather was a blacksmith and father used to bring home cars to be fixed up. Eric grew up fixing bicycles, lawnmowers and cars.  Received an associates degree in Auto Service Technology Spent 15 years in dealerships- income can go down as skill level goes up (more skilled jobs often wouldn’t pay as much) Hiring new techniciansUses Indeed and Facebook Marketplace but the best results come from word of mouth and referrals from existing employees Current prospect is 21 year old Skills USA graduate  Current tenured technicians - 15 years, 11 years, 3 years Food Friday’sEither grill or go out to eat every Friday- have employee meeting over a meal All employees and Eric discuss any issues, improvements, ideas, areas needed for training, or tools needed. Open dialogue and non-formal Eric gives his employees the opportunity for responsibilities in the business- currently working on updating SOP’s with more DVI usage Shop is open 5 days a week with weekends offEric is in the shop 4 days a week because he trusts his employees- they are good people able to follow the SOP’s in place and make day to day decisions Employees will know if you don’t trust them- creates “neediness” for everything  Gives his employees monthly expenditures they can use for customers in need Spends extra time in the community and with his family He is very involved in his employee's lives and is flexible with work schedules based on their family schedules What makes a great service advisor?Excellent people skills and communication skills- enjoy talking to people Can think quickly on their feet, a warm personality, patient and good listener Similar to a good waitress/waiter- there when you need them, listen to what you need, then go on to the next table.  Both of Eric’s service advisors are in ongoing training Best service advisor trainers- previous service advisor, or previous technician with good people skills, or having parts experience TrainingRequires minimum 30 hours per year of training  Utilized online training a lot last year during COVID shutdowns RRR 588 with Jim Fleischman and Matt Manzone- Dealership tech now works for an independent How to Have a Four Day Work Week with Eric Henley [RR 627]
      Thanks to Eric Henley for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee
      NAPA Autotech Training helps your technicians keep their skills sharp and their NAPA Know How up to date. It’s the highest quality technical training that covers almost every vehicle system and every make and model. NAPA Autotech is presented by experienced instructors who are ASE master certified technicians. Even after a class is over, techs can access course information online with ClassPass. So when questions come up later they can get the answers. AutoCare Center owners who have taken advantage of Autotech Training say that well-trained technicians are helping to increase their shop’s repair capability and raise bay productivity. That results in fewer comebacks, more satisfied shop customers, and reduced technician turnover.
      Learn more about NAPA AutoCare and the benefits of being part of the NAPA family by visiting www.NAPAAutoCare.com.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Jason Molinar- Newest Industry Apprentice Graduate at McNeil's Auto Care
      Pete McNeil is a second-generation family-owned business that started out as a Volkswagen specialist. They quickly recognized their potential for all makes and models and expanded their service offerings. During this time, they joined the NAPA AutoCare program, expanded their footprint in the Salt Lake valley and became a pillar in the automotive repair industry.
      In 2018 alone, McNeil’s expanded their Sandy location to 16 bays to help accommodate their growing business, training center and partnership with local schools for the continued growth of their apprenticeship program. During this time McNeil’s also took advantage of the Interior ProImage program and remodeled their entire showroom! This included new counters for their 4 Service Advisors, new epoxy flooring, signage, and upgraded comfortable furniture and fixtures! This is truly a place where their customers can relax while having their vehicle repaired.
      In addition, Pete opened a 2nd location in Riverton, Utah in May of 2019. Pete is very involved in the community both locally and abroad He is active in the local Church Youth Conference, Angel Hands, which assists people with disabilities.
      Very active in youth soccer with contributions and cars washed to raise money for Sparta-United. He has donated time and resources to “Sandy Pride” which helps residents clean up and beautify the city.
      Jake Sorensen- 2019 NAPA ASE Technician of the Year and 2019 Ratchet + Wrench All-Star technician of the year. He is an ASE Master technician with L1,2 and 3 advanced level certifications. He is the shop manager and diagnostic technician at McNeil’s Auto Care in Sandy, UT where he helped develop an apprenticeship program that is registered with the U.S. Department of Labor. This program has graduated several high-performing automotive technicians and was used by NAPA Auto Care as a template for their automotive apprenticeship program. Jake also developed the curriculum for an automotive course that he teaches at an adult education high school.
      Brad Christianson- NAPA Sales Person
      Special Guest Jason Rainey- Vice President, NAPA Auto Care
      Key Talking Points
      Jason- from pharmacy to an auto technician Spent 10 years as pharmacy technician out of high school Realized he didn’t enjoy his job or looked forward to it anymore Always had a love for cars (especially Jeeps) and started learning about how to fix them Took a maintenance and light repair class at a local college and loved it Saw an advertisement for McNeil’s apprentice program, interviewed for it and received the apprenticeship  Larger pool for industryYou don’t need to only focus on hiring out of high school students or someone that has previous experience in the auto industry Hire for attitude not skillset- they will learn skill during the programCommitment and willingness to learn qualities Napa Apprenticeship Program- built in collaboration with Jake and Pete9 stages, 2-year program with 4 ASE certifications National program and approved by Department of Labor Receive apprentice tool kit worth $3500 Register your shop at www.napaautocare.com, resource tab and employee recruitment  ROI calculator- customizable with also a gross profit impact chart Currently, 451 total registered apprentices participating in the program  Mentor- willing to invest time and effortEveryone learns differently and at different paces- it will be a continual learning curve for both mentor and apprentice  Shop owner needs to see the benefit for an apprentice program  Previous apprentices turning into mentors  Unrealized revenue When Jason was completing stage 7/9 during the program the profit for the shop in that category was 13K 2021 Jason has generated 47K on his own first two months Family sacrificesWorking 2 jobs at the start of the program with a newborn at home Was rewarded with hard work and could quit the second job after a few months AdviceTake advantage of the training (free and paid) “Pizza night” weekly during virtual Vision training There isn’t a technician shortage, there is a shortage of qualified technicians  Takes 2 years for apprentice graduate to complete the program so keep the cycle going Learning doesn’t stop after 2 years- continue training, career-pathing and goal forecasts  Learning is contagious- other seasoned technicians at the shop realize they need to continue learning as well  Grows individuals and families A special thanks to Jason Molinar, Jake Sorensen, Pete McNeil, Jason Rainey and Brad Christianson for their contribution to the aftermarket. Books Page HERE Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes. Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Mobile Listening APP’s HERE
      Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.
      Buy Carm a Cup of Coffee 

      This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com

      This episode is brought to you by Shop Marketing Pros. Your guides are Kim and Brian Walker with a rich history as shop owners and industry veterans. When someone searches for a shop, who are they finding? Your competitors? It should be you! The good people over at Shop Marketing Pros know how to drive website traffic and make Google work for you! www.shopmarketingpros.com
      Click to go to the Podcast on Remarkable Results Radio
    • By ncautoshop
      Many of us were once techs, but now hold the management role within our facilities - and as much as we'd love to say we're as technically proficient as we once were, the reality is technology is changing SO quickly that it's tough at times to stay on top of it! 
      Scan tools are being released at a dizzying pace, and the features required aren't what they were 5 years ago!
      In this episode of the ASOG Podcast, David and I talk with Brandon Dills of Jarhead Diagnostics about just that! 
      Brandon shares his scan tool choices and what tool, if he could choose only one, that he would purchase!
      We also talk some techncian perspective and there's even some dealer perspective in there! 
      Make sure you listen to the whole things, as there's some killer information mixed in 😉
      You can listen on your favorite listening app here:
      https://www.buzzsprout.com/1182755/7851337-asog-podcast-ep-21-is-your-shop-under-equipped-with-brandon-dills-of-jarhead-diagnostics
      There's also a live premiere on YouTube currently! Go and share your opinion with other listeners!
      Please considering liking, subscribing, sharing, reviewing or commenting on your favorite platform! It really helps us know how to better serve this community!
      https://youtu.be/J7Wu29AA_FM
    • By carmcapriotto
      Trish Serratore is the Senior Vice President of Communication at ASE
      She works closely with all of the organizations within the ASE Industry/Education initiative, which also includes ASE and the Automotive Training Managers Council (ATMC), to help provide the qualified automotive professionals the industry needs today and tomorrow. Links to Trish’s episodes HERE.
      Key Talking Points:
      ASE update from 2020-2021Test centers were initially closed- extended certifications. IT-enabled 40 people to be able to work remotely- most important was customer service employees.  Test centers opened with COVID regulations and restrictions in June  New website launch My ASE account on the homepage  Test prep for free Remote proctoring for future- take recertification test at home  All auto tests are now translated to Spanish  New certification program for army tactical wheeled vehicles3 levels of testing You don’t have to be in armed service to take the test Gives the army its own credential for internal use  ASE will be 50 years old next year- oldest occupational credential programs in-country, and one of the first  Studies show technicians who are ASE certified are more productive.  Developed task list and created ADAS composite vehicle- 2022 launch   ASE renewal appSoft launch early 2020 with 1000 subscribers, now has over 8,500  ASE certifications within businessHang signs, put a patch on, display ASE certificates to your customer- share you have invested in your employees, so your customers have the best possible service.  Differentiate yourself from other businesses Resources:
      Thanks to Trish Serratore for her contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter   Linked In   Email
      Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee
      NAPA AutoCare’s PROimage program makes it easy for you to make the most of the NAPA brand. A PROimage upgrade lets you maintain your shop’s identity as a reliable, locally-owned business while letting your customers and potential customers know you’re partnering with NAPA, the most recognized and trusted name in the automotive aftermarket. AutoCare Centers that have completed a PROimage exterior upgrade enjoy an average 23 percent sales increase during the first year.
      You can also choose to go PROimage on the interior and transform your customer waiting area from merely utilitarian to warm and welcoming. You can even get a free look by visting www.NAPAAutoCare.com and clicking on the NAPA PROimage link under the NAPA PROimage tab. Of course, the AutoCare site is also the place to go to find out about all the advantages being part of the NAPA family has to offer.
      Click to go to the Podcast on Remarkable Results Radio


  • Our Sponsors



×
×
  • Create New...