Golden Dragon: $32,484 in reported annual savings
Golden Dragon had been on SpotOn for several years. Nobody had reviewed their processing costs since the original rep set it up. They were paying $2,171/month in card processing on $57K in volume — way above market. On top of that: $295 in SpotOn software fees and $199 to rent equipment they'd never own. Derived showed them dual pricing on SkyTab — one price for cash, one for card — and their processing cost dropped to zero overnight.
Fees before
Fees after
Dual pricing eliminated all processing costs
Cash price and card price displayed clearly. Card customers pay a small premium that covers processing. Merchant processing cost: $0/month on $57K in volume.
Software fees cut from $295 to $60/month
Was paying $295/month for SpotOn software. SkyTab: $60/month for two devices. Savings: $235/month.
Free terminals
no more rental — New SkyTab terminals at no cost. Eliminated $199/month in SpotOn equipment rental.
Eliminated all junk fees
PCI, statement, and misc charges — $102/month eliminated.
“Nobody told us we were getting a bad deal. SpotOn made it all sound normal. Derived showed us dual pricing and we went from paying $2,700 a month to $60. We couldn't believe it was real.” — Golden Dragon team, Chinese restaurant
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