TRAINING ON THE RUN

TRAINING ON THE RUN:

Love this slide from John's training Tuesday night.  This shows how COST PLUS pencils out.  1. MC gets theirs. 2. Visa gets theirs.  3. Processor gets theirs (note that this processor is NOT US -- it is the losing processor:}) 

Then, 1., 2. and 3. are added together and SUBTRACTED from the monthly revenue of 1. and 2. -- and the merchant pays that monthly. 

AS MG Agents, we get residual on #3. 

SIMPLE, HUH?!

*************


"Okay....yeah...I think I'm getting somewhere now..."

************** 

Why should every merchant take cards? Believe it or not, not all do. 

At the time of the linked article, Intuit data showed that only 45% of the US' 27 million small businesses accepted cards. That number is higher now but we still run across merchants often who only take cash.  Which severely limits their success.  Why?  Forbes has a few reasons but here are the top:

1. 66% of all POS sales are done with credit, debit or gift cards -- and climbing to an estimated 77% by 2017.  A merchant MUST accept cards or LOSE OUT.
2. Card usage added $130 billion to the economy between 2008-12 so fees are no longer the deterrent they once were.

***********

It's THOR'S DAY SO GO MAKE SOME NOISE! 

Old English Thu(n)resdæg ‘day of thunder,’ named after Thunor or Thor, the Germanic god of thunder