POSWizard

Many companies now are taking part in the acceptance of debit and credit cards, but what is it that they “give up” to accept these wonderful cards?  Of course, it’s money.  Most retailers may find that accepting this type of payment is a great way to make more sales, but what are the odds that this is going to cost you more than you make?  According to some, the price for a small retailer to accept this payment type is costing them big money.  They are paying 2 to 4 percent in

terest on purchases that their customers make.  Ok I know that can’t be too bad, but what if they are paying .10 on a simple 2.00 purchase.  It may not sound like much but we have all done it, gone into the store and not carrying cash and charge that pack of gum.  Honestly who in the world carries cash now a day’s anyway?  Well we may find that companies are going to start making it a minimum $10.00 purchase to use your debit card because that’s the only way they are going to keep up with the fees.

This is going to make the emergence into the future on “easy” shopping much harder for many people.  In the era where we are announcing new products to help people “leave their wallets at home” and pay using their phone and other easy systems.  How is this going to work for the customers?  They do not have to pick up the bill for the credit card processing fees that the banks are pushing on the small business owners.  In all this technology and the things that are heading to a “cashless” society this may not be good for small retailers and there may need to be other ways to make some money to make up for the loss in credit card or debit sales.  Maybe fighting the banks for this new found ability to take these cards will be the way to go.

One way to combat some of these problems would be by “facebooking” your company.  Some companies and especially smaller retailers can post on facebook and get some sales there, but they will still need to watch for those “fees” from the debit and credit card companies and banks.  The facebook era has sparked a great way to get noticed and “liked” for your business.  This may be a great way to advertise without all the advertising expense.  If anyone has used facebook they know that word spreads like water on there, so it may be a great way for a smaller company to do a little extra.  Many companies have already jumped on the bandwagon listing ways to buy their merchandise from their facebook site and get their name out there by networking and “liking” each others facebook pages.

Either way, something has to be done or this idea of a cashless world and easy shopping might end up going back to checkbooks or cash and all those new inventions for POS phones and easy checkout will be a thing of the past. Customers want easy, and convenient while company and retailers want cheap.  Can we put the two together?

ValidSoft Presents Its Solution at “Payment Card Fraud” Event in New York

This company is working to make the fraud a distant memory  for credit and debit card users, trying to help the customers feel safer when using their cards and helping them to battle the ever growing fraud that is associated with this type of payment.

Zenius aims to be ‘Microsoft of the NFC world’

Zenius is working with Microsoft to enable virtually all users to leave their wallets at home.  Don’t worry about bringing your purse into the store or even having your wallet with you.  With their help you may be able to do it all from your mobile phone with an app that will allow you to make all of your purchases right through your cell phone using the “electronic wallet”.

Will Big Banks Stick It to Small Business — Again?

Big banks hurting the small retailers with their fees for credit and debit card users.  This may be the end to the growing easy to shop ways that Americans have come to have comfort in conveniently not using their checkbooks and leaving their cash in the bank instead of their wallets.

$10 Credit Card Minimums Coming Soon?

Due to the wide spread of charges accumulated by small retailers to allow their customers to use their debit and credit cards, we may see a growing trend of small businesses making it mandatory to have a minimum purchase required for using our cards.  What will this do for the growing “cashless” society that we have started to grow into?

Selling Via Facebook Benefits Few, Study Finds

Although it may not be as widely spread as it could be, many small businesses are trying to find a way to use Facebook as a free advertiser for their businesses.  This could help cut cost of advertising and web  page building of their own, but will they get the wide fan base they hope for?