FREE POS Point Of Sale System With FREE Payment Processing!
FREE POS Point Of Sale System With FREE Payment Processing!
1. Are the POS system and payment processing actually free? What’s the catch?
Yes, both the POS system itself and the payment processing service are free to the business owner. However, there’s a small set up fee (under $100 depending on which POS is used) and some of the higher-tier POS systems come with a small monthly software fee (from around $10-$40 depending on the complexity of the POS chosen).
This software is quite robust and comes with a full suite of online services that allows you to do online billing, recurring payments, inventory management, transaction reporting, Quickbooks integration, employee scheduling and much more!
The only catch is that if you close up shop or stop using our merchant service, all we ask is that you either mail us back the POS system or buy it from us. (It’s yours to use at not cost for as long as we provide your payment processing service.)
So the POS system is yours on loan, you don’t have to buy it. (Just cover a small setup fee and monthly software fee.) And the Edge dual-pricing software it runs will completely eliminate your payment processing fees! So even if you’re covering a small monthly software fee, you can eliminate several separate monthly software fees and other common business expenses by switching to our system.
2. How can payment processing be free? How do Visa, Mastercard and the issuing banks get their transaction fee money?
All of our free POS systems come with Edge dual-pricing software. This allows customers to choose to pay cash at a lower price if they want. Or, they can choose to use the convenience of their credit or debit card for the purchase and cover the processing fees for the transaction.
This model relieves the business of the burden of card processing fees that can easily add up to tens of thousands of dollars a year for many small businesses.
3. Does this go against any banking rules or laws? I thought you couldn’t charge different prices for the same product. I thought Visa and Mastercard didn’t allow it.
Dual pricing is very easy to offer and remain in compliance with banking regulations, card network rules and state laws.
Although state laws on the subject vary slightly from state to state, most compliance issues can be completely solved by simply putting a compliance sticker next to the cash register. (We supply compliance stickers.)
Because the Edge pricing program is built on a two-price model for every item and service, it does not violate any laws or rules of the card brands like some surcharging or limited cash-discounting programs do.
4. How can you offer this for free? How do you make your money?
As a merchant service provider that has offered traditional processing models for over two decades, (Versatile Merchant Solutions) we make our money the same way we always have: We earn a small fee for integrating the customer’s bank, the merchant’s bank and the card networks to facilitate the transaction for everyone involved. We collect the transaction fee and disperse it accordingly.
A small portion of the transaction fee (that gets paid by the customer with dual-pricing) goes to us. This covers our operating expenses. Remember, if cash is used for the transaction and no card processing happens, then no fees are required to be paid by anyone.
So whether it’s a cash transaction or a card network transaction, your business still gets 100% of the sale price deposited into its account with dual-pricing. (No more receiving less than sale price from payment processing fees being deducted from it!)
5. What is the user experience like for the customer? Will we lose business if we implement this?
The same people visiting your business have been using dual-pricing at gas stations for decades! So the mechanism of how free payment processing works is nothing new.
This pricing strategy is more and more common to see at your local convenience stores, liquor stores, pizza shops, restaurants, auto parts stores and every other type of business. In fact, hundreds of thousands of businesses a year are switching to dual -pricing at their point of sale.
So customers are seeing it more and more often. Two prices show up on the screen, a card price and a cash price. The clerk simply asks the customer if they’d like to use a card or pay cash. And they show them to two options on the screen that’s facing the customer. And the customer can choose how they want to pay. It’s really that simple.
Dual-pricing actually allows businesses to reduce the overall price of their goods and services without sacrificing profit! Doing this allows the business to remain competitive. (They no longer have to charge more for products and service in order to factor in paying for card processing fees.)
In fact, many customers appreciate the freedom of choice. They would normally be paying a higher price anyway if businesses have to increase prices in order to cover payment processing fees. Now, customers at least have the option to pay cash and save a few dollars compared to what pricing would normally be if the business were the ones paying for the payment processing.
So everybody wins!
What the clerk sees on their screen and what the customer sees on their screen:
6. What’s this free POS system like? Is it quality? Will it accommodate all of our business needs?
We partner with Payanywhere to provide the POS system. There are several options with different functionality and use. They all have the Edge dual-pricing software included.
The most popular model for the vast majority of businesses is the Smart Flex. It’s the perfect hybrid of credit card terminal and full POS system. It comes with an 8 inch touch screen, EMV chip card, NFC contactless, and magstripe reader, front and back cameras for easy barcode scanning, customer facing screen, printer, WIFI connectivity and charging doc and accessory hub.
This system is plenty of POS technology for most small businesses, but we also offer a Smart POS which is a full-function table top device for restaurant needs and complex retail operations. After you submit the Merchant Service Request Form, your dedicated onboarding agent will speak with you to determine which system is best for your business.
7. Our current POS is highly integrated into the business. I don’t want to change our POS and have to learn or set up a new one.
Usually, this is no problem at all. The vast majority of POS systems can integrate with our dual-pricing software.
In most cases, you can keep your current POS if you want. We can add our software solution, merchant services and the dual-pricing, and the no-fee payment processing works just fine!
8. This sounds great, but I’m locked into a contract with my current merchant service provider and I can’t switch.
This of course is taken on a case-by-case basis. Often merchant service providers will lock businesses into a lengthy contract. (We don’t. It’s month by month with us and you can cancel anytime.)
There is often a penalty fee if merchants discontinue their service while in a contract. So the question is this: Would saving hundreds or thousands of dollars a month justify paying a one-time penalty of usually a just couple hundred dollars? Of course, it would.
Each case is different and the details of the arrangement would need to be looked at. But most of the time, businesses can financially justify the switch to start saving a lot of money immediately.
9. What kind of support will I get?
Settling the day’s transactions at midnight and have a question about operating your POS or software? Good news! We have a very knowledgable tech support staff on hand 24/7 who you can call to get help from!
10. How does the process of switching to this POS system work? Or signing up for new merchant service?
It’s a simple process. Start by filling out the Merchant Service Request Form. This will submit your information to a dedicated onboarding agent. They will be your point of contact and answer all of your questions.
After which POS system would be best for your business is determined, your onboarding agent will walk you through the Merchant Application, which takes about 10 minutes.
Merchants are usually approved withing 24 hours and the POS system is shipped out immediately. Once it arrives, simply get on the phone with tech support to set it up. Then start enjoying free card processing!