Every year we attend industry educational events to keep Skurla’s current with technology trends and payments, but also to be able share that information on to our customers. This year, we were able to attend major events, and one of the biggest topics was NCA (Non-Cash Adjustment). For those that may not be familiar with this, it’s a program where merchants save up to 99% of their credit card processing expenses by passing along a small fee (3.99%) to their customers who pay with credit cards. It also rewards their customers who pay in cash as they don’t have to pay this fee.
Why has this been such a big deal? The pandemic hasn’t been kind to many businesses to say the least. Labor and inventory shortages, price increases, and cost of doing business have all been major factors that have forced business to look at their bottom line and some are barely getting by. NCA is a solution that can have a serious positive impact. The savings calculation is simple - look at the fees on your credit card statement and that’s money that you’ll likely save. For a small merchant who pays $2,000 a month in fees, that’s a savings $24,000 a year!
What could your business do with that money? Some are reinvesting in their business with new equipment or replacing old equipment. Others are attracting new employees or helping to retain current ones. Whatever you choose, it’s a big number you can’t afford to ignore.
In discussions with other industry thought leaders and experts, two questions from customers came up from almost everyone:
- Who else is doing this?
- What will my customers think of it?
So, what will your customer think about it? Most people understand rising costs; they are impacted by them as well. If they are informed of the charge (signage at the door, register and on pricing), most customers will pay it without a second thought. We have found that letting the customer know in advance and letting them know they can always pay with cash is the easiest method and acceptance is a non-issue. Let’s face it, there are always customers who complain about things, fees or otherwise. It is just a fact of doing business. With most complaints, a discount works wonders. The best way to handle this is having a discount for the amount of the NCA fee programmed in your system to use at your discretion. They feel like they got something, you still don’t have to pay the CC fee on that transaction: everybody wins. It really is that easy!
We’ve also learned that not all POS systems can do NCA at all or may not be able to do them efficiently or correctly. But have no fear, you can do NCA is several ways, almost all of them from Skurla’s are at $0 cost to you. Skurla’s own EdgeServ POS for restaurants, does NCA correctly and easily. For retail operations, we have an amazing new Skurla’s Retail POS that is the best option for small merchants in retail, service, salons, liquor stores, and several other business types.
For those that already have a system and just need a way to process payments, Skurla’s can provide one of the best credit card terminals on the market complete with a customer facing pin pad that can take swipe, EMV, NFC, Apple Pay and Google Pay! Again at $0 cost to you – it truly is great news.
NCA is really a game changer for your business, with the ability to own a POS system at $0 cost and eliminate your credit card fees. We see it as a new era for customers to be able to get the best tools to run their business at the best price possible.
If we didn’t share the news about NCA, we’d be doing you a grave disservice. Something that can help your business out this much deserves this attention!