Why MagicPay’s iPad Program is a Game Changer in the Merchant Services Industry?
As you probably already know, recently MagicPay has launched the first free iPad POS program in the merchant services industry. Aside from the fact that the merchant receives free equipment there is a lot more involved in the program that may be of great interest to some business owners, small or large.
As a business owner, two major things are usually in your interest, control and profit. Well, after all it is your business and you are in it to make money. Our iPad POS brings these two things into one platform. From the app you’ll be able to control and see what each employee sells, what’s the best selling item, and if the employee works on commission, see what are their individual performance and process credit card payments. There are plenty of great POS systems / softwares out there that are offered for sale / lease, they all have one thing in common; they cost money. Some of them cost as much as $300 per month per terminal! That’s some crazy numbers considering you are a small business owner. MagicPay provides its POS software for free, so just right of the bat you could save as much as $300 per month by switching over.
As the program was launched a couple weeks ago I was told that the rates are a little high for high volume merchants, so let me clear some things up and show you that the rates are actually pretty low, it all depends how you look at it, and I look at it from the bottom line, will you save money or not? The answer in most cases is YES!
Consider you are a small restaurant owner, with an average transaction of $20 that makes about $20k every month in credit card transactions. Currently you also pay about $250 for your POS software and you are using an old computer which you would love to replace, but guess what, it costs money! Also, your processor charges you a $0.15 transaction fee with a qualified rate of 1.69% and Mid-Qual of 2.99%, Non-Qual being 3.95%. Here is what you’ll get by switching over;
First of all, you’ll get new equipment, brand new iPad POS System that will include an iPad, stand, printer, cash drawer and a credit card reader, all for free! That is a $1,100 value that you just saved yourself. You will cancel your $250 a month POS software subscription as you won’t need it because you’ll be using our new innovative and free POS software that is probably more sophisticated than most POS systems out there. You will be paying a Qualified rate of 1.69% with NO transaction fee. This 1.69% is also available for ALL American Express transactions (as long as it’s swiped), that’s a reduction of 1.20% and $0.18 from the original rate. Mid-Qual of 2.69 and Non-Qual (keyed transactions) of 3.69% + $0.19.
In money terms here is what you’ll save (calculation made only using Qualified and Mid-Qualified cards):
Old Processor:
$0.15 * 1000 transactions = $150
Let’s assume half were Qual and half Mid-Qual (non keyed),
$169 + $299
+ $250 per month POS subscription:
Total: $868
MagicPay:
$169 + $269 + $19.95 (monthly fee) = $457.95 (No transaction fee or POS fee)
That is saving of over 48% in fees every month!!!
This iPad POS System program is a big game changer in the credit card processing industry and the POS technology industry as it lowers unnecessary costs to merchants and provides them with greater control on employees as well as a friendly and interactive POS system that could manage inventory, print receipts, track employee performance and brings a lot of rest to the business owner.
Learn More About The iPad Program
