Should I accept PIN debit in my store?

 A common question that retailers ask me is if it makes sense to accept PIN debit in my store or should I run debit cards as credit cards?

• PRO: Extra Security
• CON: Slows down the lines
• FACT: Can’t use with Dual Pricing 
• FACT: Cost is about the same for PIN Debit versus running debit cards as credit cards (typical $35 transaction = ~$.70 for PIN debit versus ~$.77 for debit run as credit)

With the Durban Amendment,  there is a "breakeven" point right around $35 in transaction size where it makes sense to accept PIN debit if the average transaction amount in your store is over $35.

The reality is that you have to decide for yourself based on what is best for your business.

 

 

 

Why Retailers Should be Applying for CARE's Act Forgivable SBA Loans

Based on multiple conversations, just about every retailer that I spoke with over the last 2 weeks is seeing negative effects on their sales numbers due to the Coronavirus.  As part of the stimulus package passed last week, most small retailers will qualify for a forgivable short term loan from the SBA to use for 10 weeks worth of payroll and related expenses.

The stipulations and application process appear to be very simple and streamlined. Although, I'm sure that the SMA will be flooded with requests once the application process can begin in the next 1-2 weeks.

Given that this is a forgivable loan that can help keep your store afloat for the next 10 weeks, I'd encourage all retailers to watch for more information from their local SBA office.

Preliminary information can be found here: https://www.bakerdonelson.com/cares-act-understanding-sba-loan-programs-to-determine-eligibility-and-best-fit-for-your-company

At this time, it appears that the loan can only be used for payroll, utility and rent related expenses - not for technology related investments. Still, a forgivable loan is something that should not be ignored if it can keep your staff paid and cover some other expenses until you can fully open up again.

I'll watch the SBA website for more information as well and see when they area ready to start processing applications.

Point of Sale Systems for Marijuana Retailers in Ontario Oregon

So, the residents of Ontario, OR recently voted to legalize having marijuana retailers in their city.

Because I already have several customers in the Ontario, OR area, and I live only about 45 miles from Ontario, OR, I wanted to pass along a special offer for any marijuana retailers who are in need of a point of sale system for tracking inventory, transactions, and detailed state reporting.

The promotion will include free on site installation (normally $750 to $1500) plus a POS system that runs around $3000 to $6500 up front and $60/month.

If you are not in the Ontario, OR area, but have or plan on opening a marijuana related retail store, please contact me about possible options and incentives to help you find the best point of sale system for your store.

To learn more, please contact me at 208-340-5632 or kevinantosh@gmail.com

Point of Sale Systems for Marijuana Retailers in Ontario Oregon

So, the residents of Ontario, OR recently voted to legalize having marijuana retailers in their city.

Because I already have several customers in the Ontario, OR area, and I live only about 45 miles from Ontario, OR, I wanted to pass along a special offer for any marijuana retailers who are in need of a point of sale system for tracking inventory, transactions, and detailed state reporting.

The promotion will include free on site installation (normally $750 to $1500) plus a POS system that runs around $3000 to $6500 up front and $60/month.

To learn more, please contact me at 208-340-5632 or kevinantosh@gmail.com

Welcome to some new and upgrading customers!

Very happy to share that the following retailers have signed on with myself over the last 30 days. I look forward to working with you!

• Four Way Meat Market, California: Card Defender for Microsoft Dynamics RMS
• Waterski Pro Shop, Idaho: Upgrade from Microsoft Dynamics RMS to Retail Management Her (RMH)
• Universal Police Supplies, Arizona: Upgrade from Microsoft Dynamics RMS to Retail Management Her (RMH)
• River and Adventure Toys, Idaho: Upgrade from Microsoft Dynamics RMS to Retail Management Her (RMH)
• The Caring Place, Texas: Card Defender for Microsoft Dynamics RMS
• The Jug Shop, California: Card Defender for Microsoft Dynamics RMS
• Plano Cycles, Texas: Card Defender for Microsoft Dynamics RMS
• Picuris Smoke Shop, Arizona: Card Defender for Microsoft Dynamics RMS

As always, contact me at 208-340-5632 or kevinantosh@gmail.com with retail point of sale related questions.