OVend Posted February 25, 2021 Share Posted February 25, 2021 Next week I’ll be putting card readers in my largest account. Trying to decide if I should do 10 cent difference for two tier pricing or just same card and cash prices. Partially feel like an extra fee might deter people, but also don’t want to cut into profits with the 6% fee each transaction. Any advice or experience to share? Thank you Link to comment Share on other sites More sharing options...
Popular Post allen watson Posted February 25, 2021 Popular Post Share Posted February 25, 2021 Go with the 10¢ I struggled with it for a year. When I finally switched no one complained and sales stayed the same. You’ll have more people questioning the “hold” amount than the 10¢ 1 1 Link to comment Share on other sites More sharing options...
Popular Post Southeast Treats Posted February 25, 2021 Popular Post Share Posted February 25, 2021 Most people here are going to tell you to go with the two-tier pricing. I don't do that mostly for the reason you mentioned - discouraging people from using cards. I have spoken to too many customers who complained about other vendor's markup to think customers don't notice or care. In reality, you can raise all of your pricing in stages to help cover the fees and customers will accept the higher prices much better than two tier. Yep, that fee hurts because you see it as an added expense, and it is. But as your cashless sales increase you will also save time in the count room, and the cashless sales can't be lost or stolen between the machine and the bank. 1 1 Link to comment Share on other sites More sharing options...
Popular Post orsd Posted February 25, 2021 Popular Post Share Posted February 25, 2021 People get a lot more hung up over a 10c fee than a 25c price increase. 1 1 Link to comment Share on other sites More sharing options...
OVend Posted February 27, 2021 Author Share Posted February 27, 2021 On 2/24/2021 at 8:41 PM, Southeast Treats said: Most people here are going to tell you to go with the two-tier pricing. I don't do that mostly for the reason you mentioned - discouraging people from using cards. I have spoken to too many customers who complained about other vendor's markup to think customers don't notice or care. In reality, you can raise all of your pricing in stages to help cover the fees and customers will accept the higher prices much better than two tier. Yep, that fee hurts because you see it as an added expense, and it is. But as your cashless sales increase you will also save time in the count room, and the cashless sales can't be lost or stolen between the machine and the bank. Thanks, I’ve been kind of leaning towards not doing 2 tier but I wanted some confirmation that it has worked well for others. Appreciate it Link to comment Share on other sites More sharing options...
Snickers Posted March 6, 2021 Share Posted March 6, 2021 Do the 2 tier. When you explain that the $ does not go to you but instead goes to cc processing company people get it and understand. Link to comment Share on other sites More sharing options...
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