Revel has decided the opportunity in payments is too large to ignore any longer. Accordingly, Revel launched Revel Advantage, a bundled POS and payments service for businesses. Quoting from their new site,
Revel Advantage is the payment processing solution that seamlessly integrates into your Revel Point of Sale and platform to create a complete system, tailored to your business needs. Revel manages both your POS and payments with integrated software, hardware, and credit card processing to save you time and money so you can focus on your business.
I like the article; I think there are some excellent points. I was curious, can you expand on how you derived at the “Loss of revenue: $3,000 per location” figure? While I am in agreement, I wanted to know how you came to this figure, as that seems to be a compelling argument in itself.
This is the slowdown associated with swapping systems. If you consider the average merchant does $600K/year, that’s roughly 2 days worth of slowdown. Seemed reasonable that swapping a new system would accumulate to that loss of productivity
Jordan – you always pick appropriate pics to highlight your articles, but this one was over-the-top wickedly spot-on…
Who doesn’t love a little Animal House?
Your SMOPP idea has been the actual business plan for a particularly notorious payments/POS bundler for ages. A “free” (shitty) POS and a horribly long contract to go with usurious payment rates that are more than the cloud POS systems charge by an entire basis point or two. I’ve helped people get out of contracts with them when the POS went down, but the company would not let them go from the contract.
OTOH, companies like ShopKeep POS (Full disclosure- former employer of mine) have decent rates and month to month contracts for processing despite bundling.
I’d love to hear you name names as to who the SMOPP abusers are. I’m not going to because I have to work with these people sometimes 😀
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