| How to boost your restaurant's sales and lessen | | | | Many merchants think their fees are 1.69 percent plus |
| chargebacks? | | | | an additional $.19 because that’s their qualified rate |
| * Charging Up Profits | | | | on a tiered pricing program. But often fewer than 20 of |
| In our world today, even a single cent counts so by | | | | 100 transactions receive the low qualified rate and all |
| adding them to your bottom line is also a big help. | | | | the rest downgrade and cost one, two, or even three |
| These steps will make you increase your profit and | | | | percent. By researching for alternate programs that |
| decrease expenses, as well as blocking theft so your | | | | offer different interchange rates could possibly help |
| business can grow much bigger. | | | | you more than you think. After all, this is all for the |
| For businesses in the food service industry, running a | | | | sake of your restaurant POS and your business. |
| restaurant point of sale system, this can greatly help | | | | * Understandable Statements |
| you! | | | | Neither you nor your bookkeeper would have to |
| * Checks | | | | scratch the back of your heads over a complex credit |
| Checks may not may not seem appealing to younger | | | | card statement that just doesn’t add up. There are |
| customers, but their still widely used especially among | | | | several companies that have made far more than |
| older customers. If you haven’t been accepting | | | | usual efforts to simply their reports. You should be able |
| checks, start soon. There’s equipment that will scan | | | | to reconcile your statement and rates in no more than |
| the check as quickly as a credit card, measure them | | | | 15 minutes. |
| against a nationwide database of bad check writers, | | | | * Online Reports |
| electronically transfers the money to your account, and | | | | Don’t wait for the post office to deliver a letter |
| guarantee you receive your funds within a few days. | | | | disputing a charge. Using the help of internet reporting, |
| In addition, it costs less than for credit cards and can | | | | you will know within 24 hours, allows you to |
| add 10% to 15% of your sales—possibly more if | | | | aggressively defend against chargebacks. This type of |
| seniors make up the majority of your customers. | | | | quick action will increase your success rates and |
| * Accepting All Cards | | | | reduce your losses. |
| Of course, you're already accepting cards like Visa | | | | So there will be no more scratching of the head for |
| and MasterCard. Do you also accept Discover and | | | | you and your bookkeeper over complex credit card |
| American Express? Particularly, the latter | | | | statements. |
| accompanies larger transactions in general. You might | | | | Use the Card Validation Value and Address |
| have felt hesitated because of the fee, but | | | | Verification System. They are highly effective fraud |
| reconsider—a 1% difference may not look worth it | | | | screens proven to reduce losses, and by using them |
| for you, and because American Express transactions | | | | the right way, you obtain the lowest possible rate for |
| are often larger than those of other cards, you’ll | | | | discounts. |
| make it up in gross profit. Furthermore, customers will | | | | In addition, avoid by being PCI compliant. Hackers can |
| coming back because they'll know that your business | | | | cause merchants huge fines, and they can drive you |
| accepts all forms of credit cards. | | | | out of business. It's always a good time, so you'd |
| * Do Your Research | | | | always be alert. |