There is a lot of talk in the industry about credit card processing fees. As former liquor store owners ourselves, we’ve had to cook up creative ways to reduce costs. Let’s face it: owning and managing a liquor store is a costly endeavor, and the costs don’t stop coming.
At Cheers POS, we care about our clients and their liquor store operations. Our main goal is to make sure you have a system that works for your store. A system that works for your competitor may not work for you, as your stores have different needs.
So, our solution is getting to know you and your business and providing you with your all-in-one point-of-sale system that makes operating your liquor store seamless. A credit card processing fee may be inevitable, but our built-in integrated credit card processing service allows you to have complete control over where the fees go.
When you look at the big picture, passing credit card fees to customers is a viable option for reducing costs for your liquor store.
What is a credit card processing fee?
A credit card processing fee is the amount that your liquor store business pays credit card companies and financial service providers to be able to run and accept customer credit card payments. It is sometimes called a “surcharge” or a “convenience fee” as well.
These fees are a part of every business. The problem is, many of these fees are as high as 3.99% for each credit card transaction. Think about it: how many credit card transactions do your process each day? Cash transactions these days are becoming more rare.
How the fees affect your business
When your business is paying credit card processing fees, you’re losing out on money that could be put toward tangible steps to grow your business.
This money is going to the credit card processing companies and financial providers calling the shots. These companies decide on the fees they want to charge and you—the business owner using their service—and you are unable to exercise control over any of it.
Although the fees can’t necessarily be avoided, there are ways to offset credit card processing fees. What if instead of going toward the processing companies, those funds at the end of the year went toward an upgraded point-of-sale system, store update, new product, or advertising? What if you had total control over how much the processing fee percentage was and who paid it?
Let’s talk about how you can accomplish this: passing credit card fees to customers.
How to pass the fees to customers: An all-in-one POS solution
At Cheers POS, we have a simple solution for you. Our point-of-sale system has a built-in cloud-based credit card processing system, allowing you the full control that you have been deprived of with other systems. The system allows you to:
- Access it on a range of different devices
- Choose your credit card processor
- Toggle the “passing credit card fees to customers” feature on/off
- Meet customers’ unique needs
- Access quick and secure processing hardware
How the “passing fees to customers” feature works
Toggle it on and off
You are able to toggle the feature on and off at any time and however many times you want. Maybe you want to turn the feature off on the weekends or popular drinking holidays and turn it on during the weekdays. You get to decide what rhythm works for your business.
Change the percentage rate
In addition to being able to turn it on and off, you can also change the processing fee percentage rate at any time. Maybe you want the rate higher on slower days and lower on busier days. Keep in mind that the percentage rate can’t legally exceed 4%.
Make changes remotely
Because our system is cloud-based, you can access any of the software from a desktop, laptop, tablet, or smartphone. This means that you don’t have to be in the store to make changes or view transaction history. Change the percentage or turn the feature on/off from wherever you are.
Want to try it out? Request a free demo.
Choose your credit card processor
We only work with the best at Cheers POS. As the use of credit cards has exponentially increased, so too has fraud.
In order to protect our clients from fraud, we work with these accredited processing companies and integrate their services into our system:
Using the accredited processing companies we work with and a PCI-compliant system with full data encryption, you can be certain that you and your customers are kept safe from data breaches and fraud.
Can I use a third-party credit card processor with Cheers POS system?
We receive this question often, and the answer is no. If you are using our services, you must choose from one of our approved integrated processing companies. This protects you, your business, and your customers. Working with an accredited processing company ensures your sensitive information is kept secure.
Plus, you’ll always have control over the processing fee rate and the ability to see where your money is going.
Meet your customers’ unique needs
As other forms of payment come about, your liquor store business needs to have the ability to adapt. With our comprehensive POS system, you can accept all forms of payment: EMV chips, contactless NFC, Apple/Samsung Pay, card swipes, gift cards, cash, and even checks.
Whichever method your customer wants to pay, you’ve got them covered. Our system even includes an option to conveniently split payments between different credit/debit cards, gift cards, cash, or checks.
Access quick and secure processing hardware
With one of our hardware and peripherals packages, the services within your POS system will be able to work safely and seamlessly together. Your certified piece of hardware will work with your certified software in order to keep data security and encryption up to industry standards.
Not to mention the speed at which the hardware and software work together is quick and efficient. If one thing’s for sure, we are always working to save our clients time and money.
You can choose from one of our packages, or you can opt to use your own hardware. In the case of the latter option, we can provide you with a list of recommended hardware and even train you on setting it up and getting started. We don’t care where you get your hardware from, we just want your liquor store to succeed.
Take back control with Cheers POS
You don’t have to let credit card processing companies take the reins in deciding the flat processing rate that works for your business—you know your business best. At Cheers POS, we respect this. That’s why we take the necessary time to get to know your business and come up with your customized POS solution.
With a brand new POS system that enables passing credit card fees to customers, you can increase profits, manage your business better, and keep your customers’ information safe.
Try us out
Our customer service team is always here to answer your questions no matter where you’re at in your POS system journey. Call us, email us, or chat with us on our website and we will get you where you need to be.