Who are we
Blokpay is an independent sales organization authorized to represent North American Bancard (NAB) who is one of the largest acquirers in the credit card processing industry with over $45 Billion in processing volume each year with more than 300,000 customers.
We propose that you immediately replace your current processing with the EDGE Program from North American Bancard.
Option A:
Charge non-cash customers 4%
You will add $3,000 per month to your bottom line*
In 6 months you will add $18,000
In one year you will add $36,000
*This is based on $120K in monthly processing volume and $3,000 in fees.
Option B:
Charge non-cash customers 2% and you absorb another 1.8% in fees
You will add $840 per month to your bottom line*
In 6 months you will add $5,040
In one year you will add $10,080
*This is based on $120K in monthly processing volume and $3000 in fees.
Why is option A so much larger than option B?
This is because the cash discount system is based on collecting 3.8% no matter what you charge the customer. In option B, you’re only collecting $2,400. So, another $2,160 would come out of your pocket. Since, you pay about $3,000 in fees currently, your savings is only about $840. It’s certainly an option if you want to burn $2,160 a month. It is your money after all. We earn the same regardless of what option you pick.
However, it is our mission is to eliminate credit card fees for small businesses entirely because we believe it is an unfair system to businesses. Specifically, it is unfair to small businesses because your customers are incentivized to use credit cards even when they have the cash, just so they can get the rewards. The consumer gets the rewards that you funded. But EDGE Cash Discounting makes it fair to everyone. We believe the one who gets the benefit absorbs the costs.
How does this work?
How is cash discounting different than surcharging?
Here’s the difference. A surcharge imposes a fee on transactions done with credit cards. A cash discount is not a surcharge because a cash discount works by applying a small customer service fee on all customer transactions. Then, you simply waive the fee if they pay with a cash or in-store gift card, thus making it a “cash discount”. This happens automatically depending on the payment type. Legal cash discount programs must present a clear receipt detailing the service fee or cash discount amount.
In order to unlock the savings that the EDGE program offers, you just need to upgrade your terminals for FREE.
We’re exited to present to you that solution. Furthermore, we have a dedicated team who will support the implementation process to make the hand-off as smooth as possible, while we’ll be here locally to advocate on your behalf any questions or concerns you have along the way.
Solution Overview
Smart POS
EMV chip cards | Magstripe cards | NFC Contactless | PIN debit
Accept payments on a large, 4G and wifi-enabled point of sale powered by Payanywhere. Includes an 8” HD touchscreen, 4.3” customer facing touchscreen, receipt printer, and barcode scanner.
Other Hardware Options:
Payments Hub Software
Maximize your profitability with anytime access to Payments Hub, your very own secure, online merchant portal! Once you do, you’ll leverage all the industry-leading perks, tools, and solutions you need to streamline your operations and take your business to a whole new level. With Payments Hub, you get one centralized online location for everything you need to run your business more efficiently than ever before. Need to update your account, manage your chargebacks, or order supplies? Simply log in from any device!
