Need zero cost credit card processing? Then check out my business Zero Spring Break Cleanup or ZSBC! You can find us at zsbc.com
What is ZSBC?
If you are a Florida resident, particularly a South Florida one, you know that Spring Break unleashes hordes of unruly college kids primed to unleash their collective id after a long pandemic lockdown, creating scenes of anarchy and confrontation:
You don’t have to settle for broken liquor bottles and puke polluting your storefront or home following Spring Break chaos. ZSBC will clean up for you at a reasonable price.
Our Secret Sauce is Zero Cost Credit Card Processing
Zero cost or “no-cost” credit card processing is basically compliant surcharging where, we, the merchant, legally pass the cost of card processing on to the consumer — you!
With zero cost credit card processing, we protect our margins by reducing the cost of processing credit and debit cards that can eat up as much as 1 – 3.5% of each “swipe” or keyed transaction.
Show Me the Numbers
ZSBC charges $100 to clean up Spring Break havoc. We have 1000 monthly jobs. The average interchange fee for credit card transactions is 3%. Some months, our customers pay all in credit cards, so our total monthly credit card fee is $3000.
Plug these numbers into our RewardPay calculator and the ZSBC credit card monthly fee would plummet to zero. We would save $3k monthly or $36k annually.
No-Cost Credit Card Processing Also Accepts Debit
ZSBC customers are price conscious and want to avoid a fat 3% fee for big brand credit cards. Many will just pay with their debit cards.
On some months, as many as 25% of ZSBC clients pay with credit cards at an 1% interchange rate.
After taking a spin on the RewardPay calculator, my processing fee drops from $2500 to $312.50, a nearly 88% price drop. I save $2187.50 monthly and $26,250 annually.
What Is the Catch with No Fee Credit Card Processing?
RewardPay and zero cost credit card processing:
- Is fully compatible with all major card brands.
- Is utilized across all payment types.
- Gives my customers the option to avoid processing fees by choosing debit, checks or gift cards.
I heard I need to hang signs notifying customers of the incentive to pay in cash or non-credit if I am brick and mortar…
What if a sign falls down or is mislabeled? Are the bureaucrats going to hammer me with fines?
There Is a Downside
A San Diego restaurant recently got slapped with a $34.5k fine for improperly disclosing a surcharge fee to patrons.
If surcharging is not correctly administered, Visa and Mastercard could send a letter to your processor, restricting your ability to take credit cards.
The reality is fines and other downsides are like getting busted for jaywalking and rarely enforced. You can get caught if you get sloppy with the signage and somebody like a zealous competitor reports you.
Win With Zero Cost
Overall, zero cost credit card processing is a boon to my business cleaning up after Spring Breakers loitering in South Florida.
With this strategy, I don’t have to increase my prices to cover processing fees. I will be able to compete with the big box brand Acme Cleanup without fees eroding my margins.
For many, the pungent odor of urine, vomit and stale beer after the Spring Break revelers depart Florida may assault the senses. We at Zero Spring Break Cleanup don’t find this mix foul. We smell money!
Ethical Pay Pro is a card processing consultant and helps fictional businesses like ZSBC and real ones earn more of their hard-earned coin. If you would like to explore how no-cost credit card processing can benefit your business, tap here for a free consultation.