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The choice of payment processing platform has become an increasingly important decision for business owners. Consumer behaviors have changed dramatically since 2020. Contactless payment adoption grew significantly, from 26% in 2019 to over 80% in 2022. The QR code payment market began an upward trajectory that year that analysts predict will continue at a 16.2% CAGR from 2023 to 2030. Additionally, mobile wallet transactions in the store are growing, increasing 9% in Q2 2022 alone, and showing consumers are open to alternative payments at the point of sale.

Merchants need a payment processing platform capable of delivering what consumers demand today and future-proof enough to support the payment methods they want to use in the coming months and years. To make sure you’re using the optimal solution for your business, evaluate payment processing platforms based on these five criteria.

1. Modern Technology

A good place to start when evaluating a platform is with its capabilities. Investigate the types of payment methods it supports, and also ask what’s on its development roadmap. You can also get some insights from looking at recent innovations and whether the payments provider has kept up with competitors during rapid payments disruption in recent years.

A payment processing platform that keeps up with trends – or helps to make them – will give your business the ability to provide the experiences consumers want. And great experiences can help you build customer loyalty and more revenue.

2. Flexibility

Ensure your payment processing platform allows you to take control of payment transactions. It should allow you to create payment experiences that delight your customers with speed and convenience. But it should also support options that can save your customers money – and help you offset payment processing fees.

A payment processing platform that supports surcharging and dual pricing enables you to add a surcharge (approximately the amount of payment processing fees) when customers pay with a credit card. Dual pricing allows you to show options on the terminal so your customer can see how much they’ll pay if they use cash, credit card, or another option.

A platform that gives you these options can help you save money while still providing your clients with the option to use digital payment, resulting in greater customer satisfaction and a healthier bottom line.

3. Security

It’s vital to ensure the payment processing company complies with all Payment Card Industry (PCI) and Card Acquiring Service (CAS) rules and security requirements. Comprehensive security includes tokenization, which replaces human-readable card data with randomly generated alphanumeric characters. You can use tokens to “remember” customers so, for example, they don’t have to enter their payment data each time they make a purchase online. Or, you can use tokens to associate activity with a certain customer so you can personalize offers. A strong security strategy also offers encryption, which replaces data with “ciphertext” that only the processor can decrypt with an encryption key. Point-to-point encryption (P2PE) is PCI-certified to protect card data when the consumer inserts or taps a card, when data is in transit, and when it travels to different players in the payment approval process.
However, payment processors can do more to keep payment data safe. For example, they can support fraud detection solutions that help merchants spot malicious activity or flag consumers with a history of chargebacks and illegal activity.
Overall, a payment process that prioritizes security will benefit your business by helping to prevent data breaches and fraud – and the impacts they can have on your reputation and your profits.

4. User Experience

While you look for a payment processing platform that allows you to streamline processes at the point of sale and create great experiences for your customers, don’t forget to think about the experiences the payment processing platform will provide to you. The platform should be user-friendly, allowing you to navigate it easily and quickly train your employees to use it.
Also, do your due diligence so that you fully understand the type of customer service you can expect from the payment company that provides you with payment processing services. Busy merchants can’t afford downtime or waiting on the phone for a technician who will only try to talk them through troubleshooting or correcting an issue. Give your business the advantage of 24/7 support from a local provider and the peace of mind that you’ll have responsive service when you need it most.

5. Pricing

Payment processing costs can be difficult to understand. Working with a payments company that has your best interests in mind will ensure you fully understand all costs before you sign a contract, and you won’t have to pay hidden fees.
Also, the provider you choose should will willing to discuss your plans for future growth, expansion to new revenue streams, and adding new payment methods. Transparency about those prices can help you plan and expand your business with less risk.

Dodson Payment Solutions is Here to Help

Evaluating payment processing platform options and finding the best one for your business is challenging. Fortunately, you have a local partner ready to help you choose and implement the optimal solution.
Ready to get started? Request a demo today, and discover how Dodson Payment Solutions can benefit your business!

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As an increasing number of consumers turn to credit cards as their primary payment method, your service company, whether it’s landscaping, auto repair, dealership, or HVAC, needs to adapt to meet that demand while facing the new challenge of controlling payment processing fees. 

Two solutions that have become increasingly popular are credit card surcharging and dual pricing. By passing on the cost of credit card processing fees to customers with these options, or incentivizing them to utilize other payment methods, you can maintain profit margins rather than paying these fees yourself.  

The goal is to determine which of these two options fits your business style best. 

Overview of Credit Card Surcharging and Dual Pricing

To make the choice between credit card surcharging and dual pricing, consider how they differ. Credit card surcharging involves passing on fees to your customers, usually equal to processing fees, to the sale when a customer pays with a credit card. 

In contrast, dual pricing shows customers the price they’ll pay depending on the payment method they choose. For example, you could offer a discount to customers who pay with cash or check, or accept ACH payments as well as credit cards. Customers will be more informed about their options, and businesses reduce processing fees overall. 

Added Benefits to Consider 

The primary benefit of dual pricing and surcharging is offsetting payment processing fees, but there are additional benefits to a strategy of credit card acceptance with surcharging and dual pricing. 

Increased Revenue and Profits

Businesses that accept credit cards can increase their revenues. People are willing to spend more when using credit cards in a transaction. This means that you may be able to upsell additional products and services. For example, a landscaper could upsell new mulch or an auto repair shop could sell a new filter to accompany an oil change. When you combine this with surcharging and dual pricing, you’ll see increased revenue and profitability.

You have a lot to gain when it comes to dual pricing and surcharging. Your company can incur substantial costs from credit card processing fees for large installations and repairs, so dual pricing and surcharging can offset these fees. 

Additionally, if you are like most businesses in the service industries you have faced significant challenges in the past few years The stress of inflation, the shortage of skilled labor, and supply chain disruptions have made running a viable business difficult. By offering credit card surcharging and dual pricing, you can have one less thing to worry about and maintain a healthy bottom line.

A Competitive Advantage

By offering lower prices for cash or check payments with dual pricing, you may also be able to attract customers who are looking for the best deal. This can help landscaping, auto repair, dealerships, HVAC, and other service companies to stand out from their competitors and increase their customer base. 

Auto repair customers are especially price-conscious, so implementing dual pricing and surcharging can allow businesses to offer lower prices than their competitors if their customers choose to pay with cash or check. Additionally, incentivizing cash payments can improve cash flow. Cash payments can be processed more quickly than credit card payments, ensuring you have the funds you need to pay for supplies and other expenses without delay. 

Also, remember that consumers seek convenience. So, if they know they have the option to use a payment card rather than wait for an invoice, they may be more loyal to a company. 

Credit card surcharging and dual pricing gives you the freedom to offer the experiences your customers prefer. 

Reduced Fees During Peak Seasons

Spring is undoubtedly the busiest time of year for seasonal service companies. A landscape business owner said he makes half his money for the year from March to June. Similarly, those in the HVAC industry have peak business seasons in the summer and winter due to the high demand for heating and cooling. 

With such a high influx of business during this time of the year also comes a high influx of credit card payments, and with it, credit card processing fees. By implementing credit card surcharging and dual pricing, landscaping, HVAC, and other service businesses can retain their profit margins and avoid the high processing costs associated with credit cards. 

Dodson Payment Solutions Is Here to Help You Get Started with Credit Card Surcharging and Dual Pricing

Dodson Payment Solutions is aware of how quickly the extra charges from credit card processing fees can add up. No matter what industry your business is in, we can help you. 

With us, you can save your business thousands of dollars each year by offsetting credit card fees with surcharging and dual pricing. Our POS systems streamline the process by automatically applying the surcharge during the checkout process for fast, accurate checkout. 

Ready to get started? Contact us today and discover how credit card surcharging and dual pricing can benefit your business.

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March 5, 2020

Imagine Restaurants Encouraging their Patrons to ‘Dine ‘n Dash’!

That’s right!  Dining ‘n Dashing at restaurants is going to be highly encouraged by restaurant owners and management at locations all over the nation.  In some states, it is already happening.

If you are a law-abiding citizen, you’re probably thinking that promoting an illegal act isn’t a good idea.

But this Dine ‘n Dash concept is not what it suggests.

Dine ‘n Dash is the reference for a newer (Scan & Pay) point of sale system that will benefit both restaurants and their patrons alike, utilizing the scanning of QR codes from iPhones to finalize restaurant sales.

The ‘WOW’ factor for the Scan & Pay Program

The Scan & Pay program is a response to consumers wanting more speed and convenience out of their restaurant visit experience.  It also eliminates inefficiencies that are associated with traditional payment processes.  With the new Scan & Pay program, payments at any restaurant can be fast and secure by leveraging QR codes read seamlessly by customer iPhones, and without having to download any apps or participating in the exchange of credit cards to servers.

Once an invoice is printed with a dedicated QR code and delivered to a customer, it can be scanned quickly without any mistakes, tips added accurately, and with a sense of security.  Lost time for customers waiting on servers to handle the payment process will no longer be an issue.  And it is an opportunity for restaurants to turn tables more quickly, resulting in more profits, higher tips for servers, and happier

customers.  The level of credit security is enhanced for restaurant guests as they must authorize transactions via Face ID or Touch ID on their iPhones.

Not only can servers see customers’ payments immediately, but customers can review their bills on their iPhones.  And, by customizing their Scan & Pay program, restaurants will have the option to collect customer feedback directly from their devices.

Never again will a customer be held up from making it to a scheduled meeting, theater show, movie, or any other after-meal planned event as a result of slow payment processing.

A high-volume restaurant owner in Las Vegas who has been using Scan & Pay said –

“We wanted a more efficient way for guests to pay.  Since using Scan & Pay, we have been able to offer a seamless payment experience, providing them with ‘wow!’ moments as they pay their bills and allows our business to turn more tables.”

Pitfalls from Traditional Restaurant Payment Processes

Let’s break down a typical restaurant experience for a group of sales reps and expose some of the pitfalls resulting from traditional payment solutions:

8:00 am – A small company begins its annual sales retreat for its entire sales staff. 

5:30 pm – After a lo

ng day of sales projections, profit and loss reports, graphs, charts, and training, the group disbands to change and freshen up. 

6:30 pm -The sales g

roup reconvenes at an upscale steakhouse for dinner and drinks.

8:30 pm – One of th

e sales reps suggests that their group attend a comedy show only a 10-minute walk from the restaurant.  There are seats available, and the laughter promptly starts at 10 pm, with the doors closing 15 minutes before the start time.  Everyone agrees that the show is a great idea.

9:10 pm – After an excellent dining experience and much comradery, the VP of Sales offers to cover the cost of the meal and asks the server for a bill.

9:20 pm – The server delivers the bill to the table.

Having agreed with the invoice, the VP is ready to send it, along with a credit card, back to the server to finalize the transaction.  The restaurant, now bustling since the sales group’s arrival, is cause for the server to be overwhelmed with customers.

9:30 pm – Most of the 

group members head to the comedy venue, but several hang back with the VP.

9:35 pm – The server retrieves the VP’s credit card to finish the payment process.

9:45 pm – Finally, ten minutes later, the server returns to the table with a merchant receipt, a customer receipt, and the client’s credit card. 

The VP fills in the tip amount and adds it to the subtotal.  Every person that stayed back waiting for the server has since missed their opportunity to join the other group members at the comedy show.

The process of paying the bill took 35 minutes  – time that can never be re-captured.

Additionally, because the receipt that the VP filled got wet, the tip and grand total numbers were no longer legible, causing the server to guess at the final billing total.

The Take-aways for Scan & Pay:

• Frees up servers to cover more tables and reduces the labor required to manage guest billing.
• More revenue per shift, more tips for servers.
• More secure than cash – clients get notified once their bill is paid.
• Guests pay at their convenience, from their table. No credit card, no waiting, no stress.
• No more bill entry mistakes resulting from non-legible receipts.

Whether you are a restaurant owner or customer, get ready for the ‘WOW Factor’ to Dine ‘n Dash with Scan & Pay!

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If you’re in the retail industry, there’s a good chance you’ve heard of cash discounting.. But, do you know exactly what it is? Although these programs are becoming increasingly popular with both the merchant and customers alike, the service is not new. Many retailers have actually been utilizing this program for a few years now with great success. Yet while the popularity is growing, there is still some uncertainty about the service. There is still confusion about what a cash discount program is, or perhaps more importantly, what it is not. Here is everything you need to know:

Zero processing fees

With the aid of a cash discount program, retailers can finally eliminate 100 percent of their processing fees. By offering a cash discount program to customers who pay with cash and a service fee on all sales, the processing fees are eliminated. The program starts by offering a customer service fee on every transaction. Wait, let us explain. For instance, consider a 4% customer service fee. If every item in the store is 4% higher than the cost listed, then a discount is given, which is equal to the customer service fee, when customers pay with cash. If an item is $100 and the customer chooses to pay with a credit card, the real price of such item is $104. However, the customer who chooses to pay cash gets the item for exactly $100, because a service fee of 4% has been discounted. Cash discount programs are very transparent because they let the customers know up front that they will save if they pay with cash.

Cash Discount differs from convenience fees

It’s important to note that a cash discount program is not a convenience fee. In general a convenience fee is one that has been added to the real price. This is not the case with a cash discount. Instead of “punishing” people for paying with a credit card, you are actually giving them a discount for paying with cash. After all, many credit cards have their own surcharges. Cash discounts are rewarding the customer, not punishing them.

It is not the same as surcharging, either.

Some states do not allow surcharging, but most do. The difference with a cash discount program and a surcharge, is exactly like previously mentioned with convenience fees, the customer will not be overcharged when making payment with credit card. However, those customers who pay with cash will receive a discount. As a merchant utilizing a cash discount program, it is important that you are entirely clear and do not misunderstand a cash discount program for a convenience or surcharge fee.

POS systems can adjust the payments within the terminal.

Perhaps one of the best aspects of the cash discount program is that this fully mobile payment technology is compatible with wireless terminals as well as POS systems. No PIN Pad is required and an EMV chip card terminal is included. At Dodson Payment Solutions we offer systems that are fully compatible with a Cash Discount program. Remember, you don’t have to manage this on your own. Our systems effortlessly take care of this automation for you.

It’s great as a marketing tool

Offering a cash discount program is a great way to drum up business when appropriately marketed. It can be used to attract new customers. After all, what customer doesn’t like a discount? For those loyal customers who have always paid with a card, you may not be able to switch them over, but for new customers, the cash discount program can be a powerful way to win over the competition.
Most retailers have found that a cash discount program works very well for them because they like the idea of eliminating 100% of their processing fees. Additionally, higher than average margins make the program extremely intriguing.

If you’re ready to learn more about the Cash Discount Program or want to implement it in your own retail location, give Dodson Payment Solutions a call today! We can help you make the most of this program.

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Pointy lets potential customers see what a local store has in stock but does not do transactions. Seeing that a product is available – particularly those that are hard to find – is enough to bring people through the local door as Amazon’s dominance grows.

Pointy goes beyond what brick-and-mortar stores have been able to do with Yelp (contact details and reviews) or social media (the chance to market to customer and field enquiries) over the past few years. So far the Pointy has been able to fill a niche that has been struggling for almost a decade. Whether consumers are searching for toys, health products, clothing, or anything else, the tiny rectangular device, about the size of a deck of cards, make is all this possible.

Pointy’s proprietary device has a cellular connection that keeps its database updated with stock information. Local stores simply plug in their handheld scanner into Pointy, and then back into the till. In less than five minutes the products are online.
After that, any product in the store that has a barcode gets automatically pulled into Pointy’s database after it has been scanned – whether that’s for a purchase or a stock check. A store can get all their stock on the system in mere weeks. The proprietary device has a cellular connection that keeps Pointy’s database constantly updated. Additionally, Pointy can track what’s in stock by scanning patterns in how often an item is purchased. If the data is unclear, it’ll suggest calling the store to check.

Although it just launched a year ago, the startup is already making money by charging retailers a one-time fee of $299 for the device and for having their products listed on its site. Those products can stay there indefinitely. With 70% of Pointy users being independent stores and 30% chains, Pointy is proving effective for store owners. In essence, Pointy is levelling the playing field.

Interested in using Pointy to help increase foot traffic and grow sales? Give Dodson a call today and we will get you started!

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Mobile integration is an absolute must for retailers who want to stay ahead of the competition. With most customers owning a smartphone, the mobile explosion means good things for retailers who take advantage of on-the-go purchases. Besides being convenient for the consumer, POS mobility allows for a branded, engaging experience as well. Experts suggest that by utilizing mobile POS strategically they can help solve tough retail pain points such as building customer loyalty and line busting. Those retailers who target mobile POS now will significantly grow their business, while those who fail to upgrade will surely flounder and even appear archaic. The following are some of the priorities regarding POS mobility that, when implemented, will help retailers flourish.

1. Understanding Customer Preferences
Although there have been a variety of ways to measure customer preferences, the analytics are clearer than ever with the use of mobile POS. By integrating this with your Customer Relationship Management data, accuracy increases regarding consumer partialities. The inability of retailers to provide a personalized customer experience is what makes the flexibility of mobile so attractive. POS Mobility has also been demarcated as the top objective in the aim to enhance the traditional POS experience to improve customers’ growing technological and personal expectations.

2. Multi-system Integration with Applications
Top retailers are discovering the importance of multi-system integration with applications. POS integration with other applications should be a key priority as well as the implementation of dynamic marketing content through mobile devices. Most retailers store their customers’ information and purchase history in one centralized database that they can then integrate on multiple platforms – including mobile devices. Yet, in order to do this, retailers need to implement a quality ERP database that can handle complex data calls. Additionally, they would need an interface with a point of sale system that can be integrated with mobile devices and applications. The likelihood of POS mobility working for a retailer depends on having an ERP database and a POS system complex in place so it is able to support mobile applications.

3. Pain Points Can Be Resolved with Mobile POS Applications
Top priorities for retailers include: the ability to collect customer data and store it in a CRM, cross-selling and up-selling, and payment processing. All of these are typically huge target areas for those pursing mobile POS integration. The desire for POS mobility makes sense when you consider that retailers often want o know more about their customers, but don’t want to have them wait in longer checkout lines just to acquire this data. Besides, getting cashiers to take initiative to obtain this kind of information can be like pulling teeth! Most customers are not ready to discuss loyalty after waiting in line 30+ minutes. Yet POS mobility helps speed up customer interactions outside of the checkout lane while providing a more engaging, personalized retail experience.

These are just a few of the reasons that Mobile POS is trending and will be a hot topic in 2018. It will be among the top desires for retailers looking to stay competitive and relevant while affecting the bottom line. Interested in getting your mobile POS up to speed? Give Dodson a call today!

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This is one of the most exciting time to be in the retail business since the advent of the cash register. With incredible new innovative technologies helping shape personalized experiences for consumers both in-store and online, there’s no better time to be in retail. The retail landscape is drastically and quickly evolving in ways that were unimaginable just a couple years ago. And, perhaps even more exciting, there’s no end to the innovative possibilities! Technology will only expand its influence in the buying decisions of consumers as retailers everywhere progressively turn to new technologies and products to bridge the gap between physical retail environments and digital.
With a primary focus on creating positive, engaging, and unique shopping experience for consumers, it’s critical that they understand the importance of big data and in-store analytics as well. Retailers need to adopt cloud-based solutions that unify commerce. With the process of digital transformation continually growing, the following are three of the top trends in POS that both retailers to understand in this rapidly changing retail environment.

1. Big data analytics usage will increase

Big data and in-store analytics are just the thing that retailers need to determine exactly what is going on inside their stores. This year, we will continue to see them as they apply to every stage of the retail process by defining retail trends, forecasting where the demand will be for products, enhancing pricing for a competitive edge and classifying the consumers who are most likely to be interested in buying those products.

Yet, perhaps most powerful of all, big data analytics are being utilized most regarding location. Understanding where customers are in-store enables retailers to take quick action when it comes to making decisions on tracking, stocking, and re-stocking products on a regular basis. By tracking products from shelf to the shopping car enables retailers to map trends in the market.

Furthermore, analytics continue to change the retail industry by providing distinguishability across all engagement channels to help retailers / businesses further gain insight about consumer purchasing behaviors and patterns. Those connecting multiple channels in real-time are the ones who will lead the industry. Yet, in order to do so, retailers must take advantage of technology architecture that allows for easy integration of unified commerce, allowing for web and brick-and-mortar stores to become one. Leveraging big data and in-store analytics hinge a retailer’s ability to accumulate data as well as understand insights that profit the business’ bottom line.

2. Personalized in-store customer experience

Retailers are discovering they need to provide a more personalized experience for each individual shopper. Personalized technology solutions, particularly with mobile, will allow for a more interactive customer experience. Through the emergence of new mobile POS technology, retailers can give customers broader choices to accommodate their shopping habits. Additionally, customers will be able to personally modify or complete transactions anywhere in the store, which means a faster and better customer experience.

Mobile POS systems are on the rise, which means an increasing integration of unified commerce. Because of this retailers can ensure that a seamless view of the customer touchpoint is available from all platforms from web to in-store. Mobile technologies are empowering retailers to gain data that is integrated into the retail ecosystem. Marketers and customer service teams are in contact with shoppers at every point along their purchasing experience. Because of this, consumers can expect quick payment processes, improved customer service, and greater access to deals and personalized offers.

3.Cloud adoption will create new opportunities for future proofing

Outdated technology is hampering large retailers when it comes to staying up-to-date and current. More than ever, retailers are looking for solutions that are easily upgradable while offering a design that allows for seamless upgrades in the future. This year, we will see an increase in the number of small- and medium-sized retailers adopting cloud-based solutions. Cloud-based solutions allow retailers a host of POS solutions. The ability to upgrade their systems, while also having access to software across all stores. Leveraging the cloud makes it easier for consumers and retailers to access the latest technology and keep their systems updated. POS systems are being integrated through the cloud not only with peripherals but also backend solutions and payment card solutions. The expansion of POS systems to the cloud will reshape the POS technology sector entirely.

Is your business ready for the year ahead? Is your POS system up-to-date? Give us a call and we can help you find the perfect POS solutions for your business.

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