This post is applicable to both partner processors and merchants. In this post, you will find examples of two case studies that show how impactful a switch to BOLD can be. Learn more about how Total Merchant Supply swooped in to save “Smokers Depot” by collaborating with us.

THE BEST OF BOTH WORLDS

BOLD presents the full package. Learn about the benefits as a partner processor or as a merchant. We are here for you! It’s the best of both worlds.

THE BENEFITS FOR A PARTNER PROCESSOR

Let’s say there is a multi-site company who has worked with a partner processor for roughly 3 years, but they are currently looking to save money. The company feels they had a disservice from the payment processor, and are asking a dealer who works alongside payment partners. 

Overall, if we say they have 3-4 chip reader stations at each of their locations, there is going to be a significant cost to make the change across all of their locations if they work with their bank. Realistically, it could be anywhere from $4-6K per location to maintain what the company is getting for free. That comes from adding up the retail value on the hardware; POS, machines, card readers, etc. The total cost from the processor would be around $5K, with an additional $13K to change over. 

However, if the dealer brings the company to BOLD, as a partner processor, the raw cost would be more to switch over but the monthly profit is greater. To give specific numbers, the switch over would cost about $11K, but the monthly profit would be $9K. After a few months and investing in equipment, the change with BOLD would result in larger financial gain than would be expected with a processor. 

THE BENEFITS FOR A MERCHANT (A Partner Case Study)

One of our partners, Total Merchant Supply, recently ran into a sticky situation with their customer, Smokers Depot. During a routine service call, Total Merchant Supply was made aware of neglected computer backups, inflated fees, unclear merchant statements, and a True Effective Rate of 3.76%.

Understanding the urgency of the situation at hand, Total Merchant Supply immediately backed up the database, switched to a subscription based POS software, and kickstarted a merchant account with BOLD

You can find the full case study linked here. 

BOLD offered a straightforward merchant statement, no additional unnecessary fees, 100% return on dealer’s line. Ultimately, BOLD brought the True Effective Rate down to 2.50% saving the merchant more than enough money to cover the cost of a new POS system. The savings per month came out to be $630.00. 

Presently, Smokers Depot successfully stays 10 steps ahead of the game. Not only are they taking advantage of system updates, they are doing so with the elimination of monthly subscription fees. With that under control, they can now focus on growing their business and leave the tedious reports and statements to the ones who handle it best.

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