Bolts Card Services (BCS):
Providing Credit Card Settlement in All 50 states including the District of
Columbia
HOME OF THE 1.79% in TOTAL PROCESSING FEES!
Your bottom line can be this rate or lower when you process credit cards with one of the companies I represent! In
the following videos, there will be links to information on the services I provide. 95% of received processing
applications get approved. To receive this low rate, a business must process a minimum of $50,000 or more of credit
card transactions, and have at least 1,600 customer sales monthly with less than 70% in rewards card transactions
(ie: Store rewards cards, airline cards or cards that say Rewards on the front of the card). This plan is
available with all 3 processors. If your business processes $250K or more of credit card transactions per month, I
can likely find a better deal for your business below the rate of 1.79%.
> BCS represents 3 processors & 2 settlement companies that can obtain a lower final bottom-line rate! <
Let’s not leave behind the smaller business that processes LESS than $50K a month in card transactions and thinks
it must use those companies that charge 2.75% plus $.25 per transaction. They are making a fortune! In my True Case
illustration below, I show an example of how we combat the one-price-fits-all fallacy!
BOLTS CARD SERVICES
Welcome to Bolts Card Services. (BCS)
In the following videos, there will be links to information on the services I provide.
First, let me tell you about Bolts Card Services which I started in 2007. I had to leave the #1 Outdoor Pocket sign company because I could no longer carry the heavy sample Lexan pocket signs I had been selling for the previous 7 years. Although this was a very successful enterprise, I was forced to take a different route. As a result of much research, I found First Financial USA (FFUSA) Merchant Services, a very honorable merchant service provider. I revisited my sign customers first and I was able to effectively reduce their credit card settlement fees.
Processing Examples
Example #1:
An auto parts dealer in a strip mall.
On average, this company processes $1,753,210. Monthly. The split of cards vs cash averages 80% in credit cards and 20% in cash.
His total customer count is 5,077 for the month with an average of $345 per sale.
He has a POS system tied to a corporate processing contract with gift/rewards cards in use.
The cost of accepting cards averages 2.93%. GOOD Deal, right? Maybe not!
We have plans that will bring the average cost of accepting credit cards down to 1.79%.
Example #2:
A Street Vendor selling Hot dogs and tacos brings in about $32,101. per month.
They are using a Square-type card swipe and pay 2.75% of the amount processed plus $0.25 per transaction.
They serve about 325 customers daily averaging $4.07 a sale.
This merchant thinks this is a good deal, No contract, and NO! Safety net if he gets an unreported stolen card. ~ Let us look at the actual numbers!
Total net sales $32,101.00
Total customers daily/month 325 x 28 = 9100
Net Credit card sales @ 71% x $32,101 = $22,791
Settlement Fee @ 2.75% x 22,791 = $627. /mo.
Then there are the swipe fees that are levied by the credit card companies that could be 2%-3% of the purchase.
It can may also cost as much as $2,051/mo to accept cards or about 9%
What Exactly is CASH DISCOUNTING?
Cash discounting is a way of making your customers angry at first, then very thankful you changed the way you are charging them for Merchandise / Goods, or Services.
What you the owner of your establishment is letting your customers pay more resulting in extra money that will offset your credit card settlement fees. ONLY IF YOU THE OWNER SET THAT EXTRA MONEY ASIDE.
Here is how it works: first you look at your Merchant Service End-of-Month (EOM) Payment amount (how much you owe). Then divide How much you processed into the settlement fee. Your Statement amount you owe (Pay $$$,$$$,$$). Example: [ amount processed $11,000 divided by the fees charged $300.] How it is written. $300.00 Divided by 11,000 = 0.2727 or rounded up 2.28%. This is the cost of accepting the plastic cards and wire transfers as payment.
The Cash Discount way; Our group suggests, is to raise every Item that you sell by a 4 to 5% price increase. Reason (4% is just squeaking by 5% allows you wiggle room.
Here is the benefit of cash discounting! [ Customer A. is paying cash (Example; $100. You discount only 4%, then now pay $96.00 while the card customer pays the full amount.]
By month’s end your business accrues the entire amount of the EOM has been paid throughout the month by the customers. No more charging your credit customers a fee for using their cards. It is a win-win scenario!
Currently, the only processor that has a programed card terminal is Swyftpay Minnesota. One of the processors that we showcase. They use FD terminals.
We use two settlement companies (FD/Fiserv & TSYS) on average TSYS can save your business $0.30 per $1,000 processed, * (requires different equipment)
