You know an industry has a bad rep when merchants get pissed off if you utter the words credit card processing to them. Is it possible that merchants have been so badly abused by payment companies that they actually become angry when discussing the topic? If you are a payment rep reading this, you know exactly what I am talking about. If you are a merchant reading this, keep reading. There’s light at the end of the tunnel.
The reality is, you should get what you pay for in this modern economy. Unfortunately, for most merchants they struggle with mediocre service from companies raking in big profits in the form of residual income. After all, who wants to fork over 2-3.5% of their money every single month?
While the credit card processing industry is certainly undergoing changes faster than ever before, most business owners accepting credit and debit cards likely don’t feel like there’s any relief on the way. Dreams of breaking up the big banks, forming a decentralized system, and creating free exchanges of currency seem like no more than a fairy tale. The reality is, that fairy tale is likely here to stay for a while if the powers to be have their say. Oh, and believe me, they will have their say when there’s trillions at stake. Yes, that’s “t” for “trillions”, not to be confused with “b” for “billions”.
Unlike point of sale companies, most payment companies have different cultures that aren’t built around innovation. Why innovate when we are collecting millions? Why sell software when we can shave pennies? Instead, they tend to operate under the notion, “if it ain’t broke, don’t fix it.”.
The problem is, it’s definitely broken for the merchants.
After spending nearly 10 years in the industry, Adszy’s founder knew there had to be a way to bring more value to the merchants. NO, we are NOT talking about Cash Discounting. We are talking about real innovation that could bring merchants into profitability through the core service they’ve come to hate, their credit card processing.
What if we could take that 2-3.5% loss every month and literally turn it into a profit? How the hell can you do that, you ask? Adszy connects merchants with new customers and helps increase their overall Customer Frequency through digital ads using data captured at the point of interaction.
Unlike email marketing, digital advertising provides retailers with a more efficient approach to connecting with their customers on an ongoing basis. Creating email campaigns can take several hours and often come with vanity results like clicks, opens, and other trivial metrics.
Just imagine with every swipe or dip of a credit card, a business owner could turn that data into an investment by nurturing their customers with ads to drive future revenues. Adszy can seamlessly capture this data to create Custom Audiences to put your brand in front of your customers on social media platforms like Facebook and Instagram. According to the New York Times, the average Facebook user is now spending over 50 minutes per day on the platform. Our question for retailers is, why aren’t they paying to play?
While most merchants don’t believe in social media marketing, it’s likely because they’ve be screwed by ad agencies who also bring… drumroll… very little value in exchange for their big profits. If there’s any industry that’s a bigger black hole for business owners, marketing is a close second to payments processing. With that said, Companies like UberEats, DoorDash, GrubHub, and Postmates should be all the evidence you need to know your customers are driven by ads. Just type in, “delivery near me” and see for yourself (or click here)
Adszy is on a mission to kill two birds with one stone when it comes to business owners accepting payments and wanting to market their business. Our platform was built from the ground-up to solve two problems:
- Credit card processing is a sunk cost
- Marketing lacks serious transparency
By connecting the dots between online interactions and in-store purchases, Adszy merchants are able to take a hyper-personalized approach to their marketing while realizing a return on their investment. The best part, they are able to do this by simply reallocating the funds they are already spending to accept credit and debit cards. Moreover, Adszy merchants often save money with our service by reallocating both their payments processing fees and marketing expenses.
Turning the biggest losers for your business into winners is the first step you can take towards turning that fairy tale into a reality for your business. We can’t guarantee free payment acceptance is in our near future but, we can certainly show you a better way to payment acceptance.