{"id":11146,"date":"2021-10-26T09:04:51","date_gmt":"2021-10-26T14:04:51","guid":{"rendered":"https:\/\/reformingretail.com\/?p=11146"},"modified":"2021-10-26T09:04:55","modified_gmt":"2021-10-26T14:04:55","slug":"onedine-shares-payment-rates-to-expose-how-expensive-smb-qr-payments-are","status":"publish","type":"post","link":"https:\/\/reformingretail.com\/index.php\/2021\/10\/26\/onedine-shares-payment-rates-to-expose-how-expensive-smb-qr-payments-are\/","title":{"rendered":"OneDine Shares Payment Rates to Expose How Expensive SMB QR Payments Are"},"content":{"rendered":"\n

Because SMB merchants can’t be bothered to self-discover anything<\/em>, they must be sold to. <\/p>\n\n\n\n

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).<\/p>\n\n\n\n

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

Wow: our customers are paying 2% LESS of their gross revenues in payments fees when using our solution over bundled payment providers.<\/h4>\n\n\n\n

2% less of gross revenues<\/strong>.<\/p>\n\n\n\n

Let that sink in.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

What could you buy for $20,000?<\/p>\n\n\n\n

Here’s a list of 15 cars<\/a> you could buy every year<\/em> if you weren’t busy getting raped on processing fees.<\/p>\n\n\n\n

OneDine was kind enough to build a spreadsheet for us to show the savings using the rates we quoted in our previous QR article<\/a>. <\/p>\n\n\n\n

Note that we did not<\/strong> 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.<\/p>\n\n\n\n

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<\/p>\n\n\n\n

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. <\/p>\n\n\n\n

But don’t worry: your SMB POS is free.<\/p>\n