Keeping up with changing requirements for proper age verification can be a challenge for retailers. It is difficult to keep regulators, customers and even your employees satisfied. How do you balance between having a strict 100% ID check policy, trusting your employees to make good judgements, and keeping your regular customers happy? Here are 4 ways your business can solve the age-verification puzzle.
Why Flat- Rate EBT Processing Makes Sense
We know that customers hate surprises. Most companies have hidden fees and confusing rates that end up costing you more. They take advantage and hide charges that are in the small print that you do not see until it’s too late. The charges end up costing you a fortune, but to end your contract will cost you even more money.
For example, a company that charges 10 cents per EBT transaction fee can sound promising at first glance. But for a SNAP retailer in an area with a large volume of SNAP/EBT cardholders, that 10 cents per transaction could add up quickly. Retailers in these areas could process up to 2500 EBT transactions in one month, or more. At 10 cents per transaction, that’s $250 in processing costs, not including the cost of the equipment, settlement fees, or any other extra charges.
Other companies may offer a tiered pricing. The more transactions, the less your fee will cost. For example, 15 cents for the first 100, 13 cents for the next 400, and 10 cents for anything after 500 transactions. The problem with this is; if you have a slow month, you will end up paying more than you would with a flat rate fee.
Both methods result in varying transaction costs month to month, so you can never be sure what to expect.
That’s why a flat rate for EBT processing makes more sense for so many SNAP retailers. With one set fee, you will not have any surprise charges or confusing rates at the end of the month.
No Surprise Fees
Where some companies may get you are the hidden fees. They give you one price, but do not tell you the price can vary per transaction. If most of your EBT transactions are small, those fees per transaction can start to add up.
Often you will find that they charge for a base monthly fee AND a fee for each transaction. While they appear cheap, most of the time they will have surprise charges. They may charge you for your paper statement, to deposit your money, and equipment fees. Not only is this all free with goEBT, but we will replace broken equipment at no cost to you.
By having a flat-rate, you will know how much you are going to spend for EBT processing every month. No transaction limits, equipment fees, misleading agreements, or settlement fees.
Another reason why a flat- rate fee makes sense is that it will save you time. Your fee will stay the same every month and you do not need to spend the extra time balancing your account and revising your budget. You know your monthly EBT Processing fee without questioning transactions you were not expecting. This makes it easier to budget more effectively and save time on book keeping.
Better Opportunity to Grow
Big credit card companies are not here to help you build your business. Flat- rate processing is perfect for smaller businesses. It offers you a better opportunity to grow your profits and build your business without card processors taxing on hidden fees. No matter the amount of transactions a month, your fee will never go up. You will be able to build your business and see it grow.
At goEBT we want to see your business expand and we want to be there every step of the way to help. That’s why we offer the deal we do, we are showing our customers that we are in it for the long run. Your business’s success is our top priority. We do more than just provide your EBT processing. We work with NACS and other government programs to ensure that we are bringing you the latest news and ways to improve your business. We’re even expanding to offer a number of business building solutions like Bill Pay, Prepaid Phones, and Small Business Loan access.
goEBT provides you EBT card processing WITHOUT any of the extra fees and complicated bills with great customer service who is always there to assist you. We are here to support you and help you maximize your money with ease and comfort.