The world is going mobile. Everything is on the go. In fact, it is predicted that by 2015 wirless web surfing activity will surpass desktop web suring activity. So when it comes to the world of credit card processing and merchant services, it is no different. Verizon Wirless recently released a funny commercial called Suzy’s Lemonade.
In this commercial an adorable 8 year old girl starts up a lemonade stand empire using wirless merchant services. She uses a Verizon phone with a built in swipe credit card processing terminal to accept lemonade wherever her stand is.
Check Out This Video: Suzy’s Lemonade Stand
Taking a serious look at Suzy’s lemonade, let’s see how much money she saved her lemonade stand empire by using wireless merchant services. Le’ts assume she was doing $500,000 per month in sales. If she was using something like dial charge to accept credit cards remotely by using the touch pad on her phone, her average credit card processing rate would have been about 2.70%. Now say she used wirless merchant equipment like the Verifone Vx670 or the Way System’s Way 5000 terminal with a swipe transaction setup, her average merchant services processing cost would have been about 1.90%. Let’s do the math and figure out her savings.
Costs with a non-wirless terminal:
$500,000
x 2.70% in non-swipe processing costs
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$13,500/month
X 12 months
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$162,000 per year
Costs with a wirless terminal:
$500,000
x 2.70% in non-swipe processing costs
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$9,500/month
X 12 months
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$114,000 per year
$162,000 per year in non-wireless processing costs
-$114,000 per year is wireless processing costs
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$48,000 per year in saving using wireless merchant services!!! So it seems like Suzy is pretty smart after all!
