POS Software Blog

Independent merchants are faced with many challenges in controlling costs and maximizing ROI for their businesses.  One of these challenges comes in the form of fees paid to credit card companies.  This area can be quite confusing for some merchants due to the layers of complexity involved in the payment processing industry.  As a POS solution provider, I have gained some insight on how the industry works and did my best to simplify the structure of those layers in a previous blog post located at this link – https://blog.posprophetsystems.com/blog/bid/110007/Paper-or-Plastic-Payment-Processing-Considerations-from-an-Objective-Source.

As a small business owner/operator, you are faced with day-to-day challenges that affect your bottom line and ultimately, your livelihood.  Obviously, the best way to increase the bottom line is to increase the top line through growing your sales.  However, in the current economy, this is sometimes a greater challenge than putting controls in place to increase the bottom line through gained efficiencies.  The perfect balance of building new revenue and protecting the current revenue and assets yields the most significant positive outcome.

Chances are you are not carrying as much cash as you did in the past.  You are not alone.  According to the Federal Reserve Bank of Boston, there were some 176.8 Million Card Holders in 2010.  Further, the average cardholder carries 3.5 cards.  80% of all consumers carry a debit card.  Approximately 60% of all consumers have a rewards card of some kind.  That is a lot of plastic!