New York Times<\/em><\/a>. <\/p>\nBusinesses don’t necessarily need a separate keypad for an additional monthly fee, they can just turn the machine around and have the customer punch in their PIN on that. Ours is actually fun to use because the cord isn’t long enough so folks have to get right next to it, but nobody minds. For most customers it’s cheaper to use their card as a debit, too. So it’s a win-win for everyone.<\/p>\n
By having customers input their PIN number at the register, I save a lot of money. Here’s the breakdown with Visa and Mastercard: rung as credit cards. my discount is 2.04%; with those same cards rung up as debit cards, the discount falls to 1.690%. It may not sound like much, but for every $100 I ring up as debit I save .35 cents. That’s a savings of $3.50 per thousand. I know it doesn’t sound like much, but do the math at your store, and you’ll be shocked how much you can save. This is just the discount savings. Every card comes with its own special fee structure, and again, any card used as a debit saves more, every time. At mininum it’s ten cents per debit saved, sometimes the savings is as high as fifty cents, per transaction. The saving potential is truly staggering.<\/p>\n
Not sure what to do? Have a review with your credit card processor, and go over your statement, line by line, with someone from the bank so you really understand it. Ask what the savings would be if you added the PIN input option. They give you a real estimate, based on your past history, what savings you might reap by using debit cards all the time. Update your equipment. Talk to your bank about lowering your fees. If you don’t already have your credit cards processed through the ABA, I urge you to check out this service. It’s amazingly low cost, and in 13 years, I haven’t paid for one roll of paper or shipping on that paper. <\/p>\n
Every once in a while, I’m going to present small things a bookstore owner or manager can do to save money this year. Together, by cutting costs here and there, I hope we’ll all make a little, maybe a lot, extra money at the end of the year.<\/p>\n
Is your store doing anything different this year to save money? Please share!<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
Credit or debit? How many times a day do we ask and answer this question? If you’re a bookstore employee and you’re not asking this question, you should be. I think most of us know, it’s cheaper to ring up sales as debit cards, but do we know why? Well, yes and no. Yes, because […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-591","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=\/wp\/v2\/posts\/591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=591"}],"version-history":[{"count":0,"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=\/wp\/v2\/posts\/591\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.publishersweekly.com\/blogs\/shelftalker\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}