As I am now receiving near daily calls and emails from folks considering the Clover point of sale solution, I wanted to explain why you should not be considering point of sale systems like Square, Clover, HarborTouch, and QuickBooks point of sale.
The only assumptions I am making is that your business is generating at least $60,000 in annual gross sales and 90% of payment is made using debit or credit cards.
When you purchase a point of sale system that requires you to use one specific company for merchant services, you are at the mercy of that company when it comes to the rates that they charge you for merchant services. What I have seen happen time and time again is that these companies will raise your rates every 90 days or so.
While paying 1/2% more in merchant service fees (which is what seems to be the norm with these companies) may not seem like much - lets see how that adds up over 5 years.
If your business processes $200,000 in debit and credit card transactions annually the 1/2% is $1000/year so you could easily end up paying $4000+ in excessive merchant services fees over the course of 5 years.
I don't know about you but I would rather have that money as profit!
Are you in the US and in need of no cost retail point of sale advice? I'm happy to help and can be reached on my cell at 208-340-5632 (I am on Mountain Time) or via email at email@example.com. There is also a contact form to the right that can be used to reach me.