kyle0050 Posted September 6, 2016 Share Posted September 6, 2016 My current drink machine pooped out on me and I have the option to get a credit card swiper on the next machine I am buying. So what is the best company to go with you'd say. Also what would you say your fees for the credit card reader are. I would be putting this at a high school and have had a good handful of kids ask me to put one in. I am also wondering is it worth it to install one or just keep doing cash? Hope to get some opinions. Thanks! Link to comment Share on other sites More sharing options...
AngryChris Posted September 7, 2016 Share Posted September 7, 2016 If they are at least 16 years old or somehow have debit cards/credit cards, I would certainly put that in. Those kids would spend all kinds of money if they have a card. I'm not going to go into numbers because the boost from credit card readers is all over the place but a soda machine that does at least $125/week in cash sales is certainly worthy of a credit card reader to me. I use USA Technologies and I believe the fees are about $7/month for the wireless connection and about 5% for sales if they average over $1.00 per transaction, or about 6% if they are under $1.00. Let's say you did $150/week in cash and $180/week with a credit card reader installed (the cash sales may go down significantly so you have to compare the overall boost, not the CC sales as opposed to the cash sales). At $130/month in increased sales, estimating maybe 40% gross profit after COGS, you have to put about $52 in gross profit. Assuming your cash sales shifted from $150 to $100, and CC Sales went from $0 to $80, you have to take off 5% of that $80/week for a total of about $17/month in sales fees and $7 for the wireless connection. So... you subtract $24 ($17 + $7) from the $52 in gross profit from the month to get $28 in extra monthly profit. That means you will easily pay the credit card reader off in one year. Numbers aside, having a credit card reader can reduce down-time due to bill jams, coin jams, etc... It could buy you enough time to prevent you from having to make a special trip using costly fuel and time. Link to comment Share on other sites More sharing options...
Golfdogs Posted September 7, 2016 Share Posted September 7, 2016 I would try PayRange in this type of account. No monthly fees, just a transaction fee. The younger demographic is very adaptable to this technology. Link to comment Share on other sites More sharing options...
Southeast Treats Posted September 7, 2016 Share Posted September 7, 2016 I don't usually see a drop in cash sales with a new CC reader, customers with cash tend to keep using cash. USA, nayax, or parlevel are all good choices but I think with USA, once you buy the hardware the monthly fees are the cheapest. Link to comment Share on other sites More sharing options...
AZVendor Posted September 7, 2016 Share Posted September 7, 2016 I have already seen the affects of the large percentage of high school students that carry a debit or credit card and you will definitely get incremental sales from a card reader in a high school. Payrange is a good idea as well after the initial adoption by students. Link to comment Share on other sites More sharing options...
Magiccity726 Posted September 9, 2016 Share Posted September 9, 2016 On September 6, 2016 at 8:25 PM, AngryChris said: If they are at least 16 years old or somehow have debit cards/credit cards, I would certainly put that in. Those kids would spend all kinds of money if they have a card. I'm not going to go into numbers because the boost from credit card readers is all over the place but a soda machine that does at least $125/week in cash sales is certainly worthy of a credit card reader to me. I use USA Technologies and I believe the fees are about $7/month for the wireless connection and about 5% for sales if they average over $1.00 per transaction, or about 6% if they are under $1.00. Let's say you did $150/week in cash and $180/week with a credit card reader installed (the cash sales may go down significantly so you have to compare the overall boost, not the CC sales as opposed to the cash sales). At $130/month in increased sales, estimating maybe 40% gross profit after COGS, you have to put about $52 in gross profit. Assuming your cash sales shifted from $150 to $100, and CC Sales went from $0 to $80, you have to take off 5% of that $80/week for a total of about $17/month in sales fees and $7 for the wireless connection. So... you subtract $24 ($17 + $7) from the $52 in gross profit from the month to get $28 in extra monthly profit. That means you will easily pay the credit card reader off in one year. Numbers aside, having a credit card reader can reduce down-time due to bill jams, coin jams, etc... It could buy you enough time to prevent you from having to make a special trip using costly fuel and time. Do you charge an extra fee for credit cards? I've seen machines that charge an extra 0.10 or so Link to comment Share on other sites More sharing options...
cblomqui Posted September 9, 2016 Share Posted September 9, 2016 I know that Parlevel has a special on card readers that is buy 10 get one free, but that may be more than you need. Link to comment Share on other sites More sharing options...
Poplady1 Posted September 9, 2016 Share Posted September 9, 2016 Most of the companies we represent do CC readers now and they also do the extra charge for the transaction. Most use USA Tech. Link to comment Share on other sites More sharing options...
DJVending Posted September 10, 2016 Share Posted September 10, 2016 Pay range sounds good but you need a min of 10 machines I think to get started.. Link to comment Share on other sites More sharing options...
Golfdogs Posted September 10, 2016 Share Posted September 10, 2016 6 hours ago, DJVending said: Pay range sounds good but you need a min of 10 machines I think to get started.. No. You can buy them through Vistar one at a time. Link to comment Share on other sites More sharing options...
lacanteen Posted September 10, 2016 Share Posted September 10, 2016 We are 100% USAT and can take any card in your wallet and most NFC apps on your phone on any of our machines. A vending management company recently wanted us to add PayRange to their machines so that they can monitor the cash and credit sales. I refused but gave them access to their machines in USA LIve to get the same information. It may sound like I sell USAT, but the truth is I helped them beta test card apps in the 1990s. They have been doing cards longer than all of their competition combined. Security is priceless. Link to comment Share on other sites More sharing options...
DJVending Posted October 1, 2016 Share Posted October 1, 2016 No. You can buy them through Vistar one at a time. I went to Vistar today and they said they do not sell pay range devices anymore Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
AZVendor Posted October 1, 2016 Share Posted October 1, 2016 D&S Vending probably still sells them. Link to comment Share on other sites More sharing options...
DJVending Posted October 1, 2016 Share Posted October 1, 2016 D&S Vending probably still sells them.Yup they do thank you [emoji1474] Link to comment Share on other sites More sharing options...
Anacapa Vending Posted October 2, 2016 Share Posted October 2, 2016 We are happy with Nayax and their customer support . Also text message alerts if a machine goes down for any reason. Link to comment Share on other sites More sharing options...
deee_z Posted October 14, 2016 Share Posted October 14, 2016 How much do these units cost each and how tough are they to get set up and running? Link to comment Share on other sites More sharing options...
cblomqui Posted October 14, 2016 Share Posted October 14, 2016 12 hours ago, deee_z said: How much do these units cost each and how tough are they to get set up and running? Cost depends on the company and whether you buy them new or used. I have Parlevel readers and all I had to do was plug them into the machine to get them up and running. Everything else was taken care of for me. Link to comment Share on other sites More sharing options...
deee_z Posted October 14, 2016 Share Posted October 14, 2016 I don't have any yet, curious about getting a few and the costs of each and set up. Link to comment Share on other sites More sharing options...
Southeast Treats Posted October 15, 2016 Share Posted October 15, 2016 Given that you are only buying a few, parlevel might be the easiest to work with. I am pretty sure that they will see you a small quantity to get you started. USAT and Nayax can be a little frustrating for small operators these days..... Link to comment Share on other sites More sharing options...
AskKateCC101 Posted February 2, 2017 Share Posted February 2, 2017 USA Technologies, no minimum for purchase. Your customer won't have to download an app to use. Fast, easy, your customer pays the way THEY want. Call Kate 484.359.2152 Link to comment Share on other sites More sharing options...
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