Gift cards are dynamic when the many facets of their value-adding capabilities are known and put into action. Here you will find insights, news, and fresh perspective highlighting the multi-faceted and enriching capabilities of gift cards in an ever-evolving digital marketplace.
PayPal’s recent entry in the rapidly forming mobile
payments field only offers the slightest price break in comparison to Square; however, both
pale in comparison to the rates offered by Total Merchant Services for its newPayment Jack. Whereas Square users pay 2.75% per transaction and PayPal users
pay 2.7%, Payment Jack users pay as little as 1.29% per transaction for savings
on card processing fees, which is more than 50% less than Square and PayPal. In
addition to providing the first Payment Jack free to new accounts, the Total
Merchant Services office operated by CardsCashRewards.com provides additional
Payment Jack devices for only $10.00 each with an eye for outfitting a
merchant’s entire outside sales force. Further distinguishing Payment Jack from
Square is the fact the latter’s platform is not supported by a sponsor bank;
instead Square (led by Twitter co-founder Jack Dorsey) functions more as amerchant aggregator.
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.