- Monday - Friday 9 AM - 5 PM
- 43300 Southern Walk Plz #166 Ashburn, VA 20148, USA
- 515 Consumers Rd #210 North York, ON, M2J4Z2, CANADA
- (+1) (202) 902-6226
Multi location grocery store
Story
In our discovery meeting with the Founder / CEO she was looking to update her current process. the current system is outdated and causing technical problems which has caused a number of client complaints.
How we helped
Our Retail consultant team mapped out the client’s ecosystem and made strong recommendations to upgrade the current POS terminals.
We were able to negotiate with a number of payment processors on behalf of our client.
Our successful outcome provided our client with the newest smart pos terminals at a lower rental and processing rate than what they currently had.
Now their new technology will allow the senior management team to oversee all 7 locations, view live transactions reporting, Employee management designed for staffing part-time staff during peak periods.
Our client has seen a dramatic decrease in processing and rental fees, increased revenue and most importantly customer satisfaction.
Result
Avrage Monthly CreditCard Valume: $12,500,000 USD
Annual processing valume: $150,000,000 USD
- Annual saving $288,351 USD
- NO rate increase since 2020!
- Reduced chargebacks by 78%
What we learned?
Over the past 24 month, online payment processing have increased by 800% due to the COVID19, which is created a fantastic opportunity for retailers. However, in the past 24 months, we have noticed fraudulent online credit card transactions have increased by 48%.
Online businesses tend to pay a higher rate because of the type of transaction they are receiving, which is known as CNP or Online transaction. There is also more risk associated with card not present transactions, which can threaten any online business.
Online businesses stay with their processor by average of two years more than any other industry because of the complexity and cost of integration and chance of downtime for the operation. This also results in a higher processing fee paid by the merchant.
