So why take cards inside the pub when cash is the main payment method?
It’s a very good question, and for a long time we would have agreed with you completely. The public house has long been a spot where cash has been the only recognisable payment process, and we are all well known with those signs above the bar that say “Please do not ask for credit as a punch in the mouth often offends” have we not? Well these days there is a way to get your alcoholic beverages on credit, but not from the land lord. Many club landlords and managers will accept credit cards, so in theory when you are paying for your drinking with your credit card you are indeed getting your drinks on credit.
One of the main factors you should really consider taking cards in the pub is that nowadays people like to pay with them. Cash is losing its appeal, even in the pub. Once you can provide customers with as many payment choices as possible then you are certain to make more money down the road.
How must i generate profits on smaller purchase values?
It is true that payment processing costs you money, and it’s also true that if you take card payments for low sums of money that it may not always be cost effective. However, you need to weigh this up against the amount of extra business you and your company should receive as a result of taking cards.
Your merchant rates aren’t likely to be among the highest that sellers pay though, simply because your customers is present at the point of sale, this means that the risk of scams is minimum and the individual who (hopefully) owns the card is the one punching in the number at the point of sale. Merchant costs are much higher for people firms that rely on mail or telephone order in modern times because the cardholder isn’t present.
Make money using the bar bill
Bar bills are a good way in which you may avoid accepting debit card payments for low value transactions. When a consumer comes into your club or bar you can take their credit card from them and keep it behind the bar, and then provide them with a number that corresponds with their card. Instead of paying for their drinks or food whenever they come to the bar, instead they simply give the bartender their number (often via a card) and this gets added to the tab; they pay via a card terminal when they come to collect their debit / credit card.
Can it be popular to work up a bar bill?
This is extremely popular these days and it allows the customer to do so much more. A customer is allowed to socialise with friends after work, or even take clients out to lunch without worrying about how much cash they have on them anymore. There is nothing worse than going out for a drink and something to eat without knowing just how much things are going to cost.
Its also worth considering that when the customer has their debit card behind the bar they are far less inclined to concern about what they are spending on it, since the money is not coming directly out of their pocket, it’s coming from their bank account instead.
When you sign up for your merchant account they ought to provide you with all the fraud protection you have to take cards without any difficulty in any way. Fraud is relatively low with Chip and PIN technology these days, and in fact it’s much lower than the chance of receiving counterfeit currency in your cash register!