Cash Discount Processor Review – PaymentCloud

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PaymentCloud

Overview

We love PaymentCloud.  We’ve spoken with the CEO, Shawn Silver, and got a great response from him.  The words were not as important as the message in his tone and his actions.  He was pleasant to speak with, was professional and helpful.  After the call, the thought was – “He was that helpful?  And we’re not even a merchant he makes money off of!”  We bring this up to highlight a very important aspect of business.  If the CEO has an inclination to be service-oriented and helpful, then the organization will carry that mission statement as well.  Shawn, was awarded with a 40 under 40 badge which says something about the tenacious nature of the business as well.

Full-service

PaymentCloud is a full-service shop with traditional processing for e-commerce and retail.  But something they really go for is the high-risk merchant.  If you’re high risk, this is who you want to consider among any others that have in your top 3.  But why are we writing about PaymentCloud here on CashDiscount.com?  Because they also are one of the leaders in cash discount programs!

We also found several other reviews and accolades that speak to the ability for the company to manage several service offerings and to provide good customer service.  Our research upholds the statement that PaymentCloud is above average in their support and is near the top in the amount of services they offer.

Community

Something that stood out to us was how much the company is involved in community organizations.  Like the call with Shawn, this speaks very loudly that a company would put needs of cancer research, environmental improvement and child development above its bottom line.

 

Hardware

PaymentCloud offers the following options:

  • Ingenico
  • Verifone
  • MAXXPAY
  • POS w/ Cash Drawer
  • PC POS Tablet

 

Services

All of their services are focused on reducing or eliminating your processing fees where possible:

    • Hardware
    • EMV
    • Virtual Terminal
    • Debit Services
    • Credit Services
    • E-Commerce Processing
    • Credit & Debit Card Processing

 

Customer Support

We all know that a product is only as good as how well it is supported.  Dare we reference Tommy Boy at this point?  But it’s true, and we have seen that PaymentCloud is a great company with a great name having looked at several online reviews.  It also helps that you can reach them by both email or phone.  Their support promise is posted on their site and we recommend that you hold them to it – “We will work hard to earn your continual loyalty, and we want to make sure that you are satisfied with our business. Your success is our success. We care about you and your business, and we will do our very best to serve you.”

 

Summary

Everywhere we turn, the PaymentCloud name seems to be held in an overall positive light.  They carry influence in the industry trade shows and are very well-dialed in to what is happening in the industry.  With compliance in your cash discount program being debated regularly, it’s important that you saddle up with a group that can help you stay with the changing tides.

 

Cash Discount Team
E: [email protected]
W: www.cashdiscount.com

Cash Discount Processor Review – BLUEDOG

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Call 866-492-5335

BLUEDOG Business Services, LLC

Overview

At Cash Discount, we like things that are simple and clean.  Clean and organized operations make for successful results.  BLUEDOG is founded on the “idea that Merchant Service Providers can do better.”  The payment processing world is very competitive so any attempt to improve the merchant experience gets a thumbs up from us.

 

For all you dog lovers out there, I think you may have found a home.  The name “BLUEDOG” wasn’t just pulled out of a hat – it’s actually derived from the relationship that his son has with a blue stuffed dog.  And it’s that relationship that drives the customer experience here.  Loyalty, best friend, making someone happy – are all guiding principles that drive the staff, from the CEO on down.

 

They’re not new to the game either.  They have 22 years of experience at the helm.  According to the BBB, the business itself is 5 years old and has an A rating.  I like those numbers because it shows there’s been enough time for the company to work through the startup phase and is now clipping along with all processes in place and have developed a system to scale.

 

Like most businesses, there have been some complaints which are mostly around what the rep told the customer they would get and then it turned out to be different.  As far as we could tell, Blue Dog has addressed and resolved the concerns completely.  In some cases, the rep was let go, in other cases, the contract was re-written to make sure the customer was happy.  In most cases, money was refunded in order to maintain integrity.  That speaks volumes in this industry.

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The Program

The cash discount program that is offered by BLUEDOG is promoted as no transaction fees and a meager $9.95 per month.  They eliminate the confusing credit card statements and provide you with one low monthly fee.  Here’s a bulleted run down of what you get:

  • Two $9.95 /mo. Plan Options*
    • Plan A – $1.35 per transaction, paid by customer
    • Plan B – 3.89% per transaction, paid by customer
  • Free Dejavoo Z11** or Mynt POS (cost unknown)
  • Next-Day funding
  • Process Unlimited Transactions
  • No PCI Fee ***
  • Split or wave service fees at any time****
  • 24/7 customer support

We’ve included their terms as well so you have a clear understanding of the offering:

*Pricing based on processing a minimum of $25 per month. **Free Dejavoo terminal requires processing a minimum of $10,000 per month. Otherwise the Dejavoo Z11 can be purchased for $299, or leased for $25 per month. ***Non-PCI compliance Fee is $9.95 ****Any split or waived service fee will be debited at the end of each billing cycle.

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Services

All of their services are focused on reducing or eliminating your processing fees if possible:

  • Hardware – Poynt, Dejavoo and Mynt.
  • EMV
  • Virtual Terminal
  • Debit Services
  • Credit Services
  • E-Commerce Processing
  • B2B
  • Credit & Debit Card Processing

 

Customer Support

We’ve already addressed this a bit up top, but a couple of things to reiterate are that although they have had customer complaints, they’ve been thorough in resolving the concerns to the best of their ability and ultimately have made the customer happy.

  • Call
  • Email
  • Chat

 

In Sum

We like BLUEDOG.  We think they’ll be more responsive and innovative as a younger solution where some of the older processors might be more hesitant or slower to roll out solutions that match the current needs of merchants.  The CEO, Ron Dichter, has his ear to the ground doing his own research and review of potential options for merchants.  He personally connected with CashDiscount.com to gain an understanding of our app on Poynt to see if it was appropriate and of benefit to his customers.  We like it when the CEO plays an active role in the day to day of the merchant.  The only advice we have is to make sure your conversations are clear with the agent, for your benefit and theirs, and enjoy the savings they can help you keep.

 

Cash Discount Team
E: [email protected]
W: www.cashdiscount.com

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Call 866-492-5335

Revenues Gain, Profits Lose – Cash Discount Wins

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Hard Facts

Numbers don’t lie.  Quarterly reports by several companies are showing trends that validate a concern shared by many merchants – increased profit is becoming more and more elusive.  And that pursuit just got a bit more difficult.

If you have a retirement account, you’ve seen how things have been going well in the ‘right’ direction since the beginning of 2019.  It seems the cuts in earnings at the end of 2018 were a bit too steep in anticipation of some financing melting and that has paid off in Q1.

But the melting hasn’t happened and that has lead analysts to one conclusion – costs are increasing.

 

Costs On The Rise

As a business owner, are your costs going up?  Have you noticed your revenues are up as well?  Business is great, as long as one outpaces the other, right?  Wrong.  On average, earnings are down, despite an average increase in revenues.  So, selling more doesn’t necessarily mean more profit.  Which lever can you pull to directly impact your profit?

Consider employing a cash discount program to offset your processing costs!

The Data

Analysts expect the S&P 500 will report year over year growth in revenues, while seeing a decline in earnings.

  • Q1 Earnings: Down 1.8%
  • Q1 Revenues: Up 4.9%

Source: Refinitiv

 

A group called FactSet surveyed 23 companies about their revenues and earnings in Q1 and found the following:

  • Unfavorable foreign exchange 57%
  • Higher wage and labor costs 43%
  • Higher raw material costs 39%
  • Higher transport costs 22%
  • Weather 39%
  • Europe 26%
  • Tariff/Trade 26%

 

Wages Among Others

Certainly, tariffs and duties have contributed to the pain.  But there are many large chains (AutoZone, Costco, FedEx, Lennar) that are pointing the finger at wages and labor being the main contributors to higher costs.  It’s great for the employees, but the businesses are feeling a bit like Atlas trying to carry all of that overhead on their backs.

What about the local services, restaurants, retailers?  What about you?  Are you feeling the same pains?

If you spend any time at all during the day wondering how to increase your profits, then you should be considering a change to your payment processing as a quick and seamless option.  If your current processor doesn’t offer a cash discount program, consider one of our best processors.

 

Increase Profits Immediately

Merchants who offer a cash discount program save between 3.5% and 4% each month that is pure profit.  That profit is being used to hire personnel, purchase equipment, or increase marketing efforts.

If you haven’t heard of cash discount, or if you want to know more, feel free to look around our site.  Then, talk to a competent processor and ask if they offer a program.

Increased wages are good for those receiving the wages but have unintended consequences in the form of less profit in an economy like ours today.  When that happens, business owners need to be open-minded and creative in finding new ways to increase profits.  Should analysts be correct, consider offering a cash discount among the other adjustments you’ll be making to stay ahead of your increasing costs.

Read the full review here.

 

Cash Discount Team
[email protected]
www.cashdiscount.com