|Gift Card Rewards|
Wednesday, February 6, 2013
Tuesday, January 15, 2013
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Monday, January 14, 2013
In summary, Payment Jack is powered by the same RoamData technology supporting Intuit’s GoPayments. As a more traditional card services provider, Total Merchant Services fashions its mobile payments pricing model consistent to its primary “card present” pricing model. In summary, if it is “hip to be Square” then it will also costs more, and if paying more makes you pals, then buyer’s remorse is inevitable because friendship should not be so costly. With Payment Jack, users are free to “roam” about the providing far superior service at lower costs than its better known brand name rivals.
As MasterCard and Visa and many of the nation’s largest banks regain their footing following the settlement of a massive antitrust lawsuit, small businesses continue to pay card processing fees disproportionate to major chains, and excessive by every standard imaginable. Many service providers were forced to regroup following last year’s Durbin Amendment as many emerged with new service wrinkles such as blended rates, month-to-month contracts, merchant sign-on bonuses, just to name a few. For busy small business operators that typically see five merchant account representatives per week seeking to earn their business, the offers often sound too similar to differentiate the prospects for savings as well as for sorting through opportunities to grow the business by adding new services such as accepting Discover and American Express, as well as checks, and issuing gift cards. A brief sampling of independent retailers recently demonstrated that many small business operators still pay between 1.49 to 1.79 percent per transaction to accept credit cards. Even more, most independent retailers remain in long-term contracts with their service providers when in fact; many have relented to month-to-month agreements with their clients as well as to lowering rates to retain existing customers.
Assuming $20,000 in monthly MasterCard and Visa sales revenues, merchants lowering their rates five basis points (ex: from 1.79% to 1.29% ) and their per item fees $0.10 each (ex:$0.30 to 0.20) will achieve $100.00 per month in card fee savings; which will accrue to $1,200.00 in annual savings.
Merchants typically encounter numerous service providers in person as well as through direct mailers, emails, and online advertising. Since keeping costs as low as possible while also maximizing revenues, it would not hurt the merchant to invest a few hours per month to inspect new offers. In addition to lowering costs, merchants should listen for offers that make breaking its existing contract easy (signing bonuses, etc.) as well as for value-added programs such as gift cards, check conversions, mobile payment readers, and merchant cash advances that help ease the cash flow crunch.
Wednesday, August 1, 2012
CardsCashRewards.com provides various free gift card program setups for merchants including 50 custom gift cards complete with low cost hosting, marketing, and sales support. Once set up small business operators must require their sales team (cashiers, floor reps, and outside representatives) to “plus sell” gift cards to each customers that buys from the store. Even more, owners should track sales of gift cards made by each team member as the basis for promotions, bonuses and other merit-based compensation. Why? Because selling gift cards will increase the store’s revenues, cash flow, and profits. For example, by selling five gift cards per day averaging $25.00 per card load, merchants net additional annual revenues of $45,000.00. Upon redemption, additional revenues come into play because gift card recipients tend to spend 33% more than the value of their cards. Therefore merchants that sell five gift cards per day can increase sales revenues $60,000 per year more than they currently generate in the absence of issuing gift cards.
Wednesday, November 9, 2011
In an up and down economy, retailers (large and small) simply cannot afford to leave money on the table. To do so ultimately requires laying off loyal employees or missing out on opportunities to sustain their business until the economy stabilizes. Whether by lowering credit card processing costs, or accessing cash advances when traditional financing is no longer an option, retail merchants must come to know of the equity they build simply by accepting credit cards in their business. In most cases, tapping into this equity enables retailers to sustain, expand, and reposition their businesses into dynamic profit centers.
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Sunday, June 5, 2011
Gift cards can be issued unactivated until the customer takes the appropriate action required by the issuer or program manager, which ultimately factors into reducing risk of fraud or theft. Marketers can also include images of their products or brands on the card face as well as issue re-loadable gift cards which collectively makes a lasting impression on recipients.
For more information about how gift cards rebate better than paper checks, read the press release using the link provided here.