Paving retailer, Pavers Plus in Ringwood, Victoria, has moved away from EFTPOS technology offered by the big banks and is now utilising technology from fintech company, Zeller, which has helped save money and time.
Instead of renting a terminal from one of the big four at around $600 per year, Zeller’s EFTPOS terminals are a one-off purchase upfront and cost half the price. Over the past 14 years, this could have saved Pavers Plus $8,400 in rental fees.
The company has also been able to save one to two hours per week on administrative tasks such as managing and chasing refunds by using the new technology that streamlines this process and eliminates the need to issue store credits.
By being able to accept AMEX with Zeller at a low rate, Pavers Plus has been able to save between $5,000 and $10,000 each year in surchargers by switching to Zeller.
With snap lockdowns and the strictest restrictions in the country, Melbourne has now spent more than 200 days in lockdown since the beginning of the pandemic, which has changed both how the Pavers Plus business operates and interacts with customers, according to managing director, Tim Finocchiaro.
“Since moving away from costly and unreliable EFTPOS technology offered by the big banks, we’ve been able to navigate these trying times with the support of Zeller,” he told Retailbiz.
“We jumped at the chance to switch from our incumbent bank to Zeller because they offered us a simplified pricing structure with pay-as-you-go fees and no lock-in clause. When previously renting a terminal from one of the big four, we spent around $600 a year.
“Since making the switch to Zeller’s EFTPOS terminal – which was a one-off purchase for the businesses through Officeworks – we’ve been able to keep costs down.”
“Further, our store managers have been able to save time on administrative tasks such as managing and chasing refunds. By utilising Zeller’s on-screen technology to pull up recent purchases, we’ve been able to streamline the refund process and eliminate the need for the business to issue store credits, which has helped ensure a stronger customer experience.
“As we move closer and closer to a cashless society, it pays to know how to keep your transaction fees to a minimum. Introducing a fair surcharge to both our customers and our business is easy with the right EFTPOS solution. By accepting AMEX with Zeller at a low rate, versus the banks who usually make business owners sign up and do a deal with AMEX directly at 1.5%, we’ve been able to save thousands in surcharges.”