Understanding payments is a niche field. This can easily be mis-understood, and some providers will try and cloud the decision process by witholding key information, over-simplifying metrics (such as premium charges or Interchange and scheme fees), and understanding what will and won’t work for your business both operationally and financially is critical. Payment Guru can work in a number of ways also, flexible for your business and suitable for any size:
- Consultancy, paid on a daily rate for our work
- Benchmarking, we take a percentage of the first year savings or benefits
- Brokerage – our partners pay us on changing providers. Effectively we are then free of charge to your business
- A mixture of these based on your preferences and feedback
With experience of working with independents, management companies and groups, and even PMS companies on their own payment strategy There are a number of areas hospitality businesses can often be either overpaying or unaware of the best solutions for their business. Some areas we can help with a review, a change of provider, or a new way to drive your business forward:
- Merchant Services / Card Processing – the costs of your transactions (blended, interchange plus and interchange plus plus knowledge, support and analysis)
- Payment Terminals – fixed, portable and mobile devices
- EPMS/POS/Booking platform – Payment Integration
- Virtual Cards and processing options (understanding the true costs, do you kno how much these cost your business currently? Sometimes over 4% with some suppliers!)
- Virtual Terminals / MOTO & Payment Links – add security to your solutions as well as ease of access
- Dynamic Currency Conversion – are you maximising the revenue from your international guests
- Open Banking – a great way to drive savings on large transactions (on terminal and CNP solutions)
- Utilities and Supplier Review / Hospitality Procurement
- Compliant Tipping Solutions – save money on NIC for you and your staff, whilst driving more tips to keep your staff happier
- QR code ordering and concierge solutions
Getting the mix and solutions right for your business could be affecting your staff, customers, and business bottom line. Let us know where we can help and what you are looking to acheive and we can find the best models and solutions for you.
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