I own a small sandwich business. With my margins, I can’t afford credit card fees. Is there anything you can do to help me?
Here’s the question in its entirety: I own a small gyro/sandwich business. I only have a few tables so most of my food orders are “to go”. Most of my sales are in the range of $10-$12. I’d like to accept credit cards but with my margins, I just can’t afford the fees. Is there anything you can do to help me?
Yes there is. Both Visa and MasterCard have “Small Ticket” programs for businesses like yours with relatively small transaction totals. Unfortunately, the MasterCard and Visa programs are not identical in the types of merchant that qualify for their programs or their requirements. Fortunately for you though, a fast food establishment where most of the food is sold “to go” does qualify for both programs. With this program the “per transaction” fee is cut pretty dramatically and the percentage rate is also lower. The programs are a little too complicated to discuss here but please contact us so we can explain it further.
For those reading this who are in another business where your transaction totals are fairly small (under $15 or so), we may be able to help you qualify for either one or both of the MasterCard and Visa programs.