OneDine Shares Payment Rates to Expose How Expensive SMB QR Payments Are

Because SMB merchants can’t be bothered to self-discover anything, they must be sold to.

Selling an SMB is inherently one of the most expensive propositions on earth because they’re just as much integration work as a larger merchant but pay much, much less (and are often more work to support because they’re so unsophisticated).

After reading our last QR post, OneDine, a QR ordering and data company serving larger restaurant brands, reviewed the card not present payment rates SMB merchants were paying and realized,

Wow: our customers are paying 2% LESS of their gross revenues in payments fees when using our solution over bundled payment providers.

2% less of gross revenues.

Let that sink in.

If a merchant does $1M in annual turnover we’re talking about saving $20,000 a year assuming OneDine’s projected savings to be accurate.

What could you buy for $20,000?

Here’s a list of 15 cars you could buy every year if you weren’t busy getting raped on processing fees.

OneDine was kind enough to build a spreadsheet for us to show the savings using the rates we quoted in our previous QR article.

Note that we did not inspect these processing statements ourselves, so we don’t know how accurate the savings are, but if one were to assume a reasonable mix of debit transactions it’s not hard to see how a business could save so much money using a more honest and transparent processor.

For the record OneDine is not a processor and instead charges SaaS fees transparently. OneDine customers bring their own payments and accordingly there isn’t any payments shenanigans happening on OneDine’s end.

But don’t worry: your SMB POS is free.