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Business Insider just released an article this week about Square holding funds in reserves but this is no small number – it is an astonishing 20-30% of processing revenues (read more here). While COVID-19 has hit almost all businesses very hard, including Square, it is not reasonable to hold 20-30% of a business’s processing revenues without warning at a time such as this. This is the type of practice that forces businesses to pursue desperate financing options just to stay afloat or, even worse, close doors. Sadly, this is not uncommon for Square – as the article notes, it is a common practice.
If you know someone who uses Square, now is the time to change processing systems; very few, if any, businesses can survive revenues decreasing unexpectedly by 20-30%. There are many businesses that use Square and, sadly, they will be very strongly and very negatively impacted by this withholding policy but that does not mean that the business has to simply accept this… there are alternatives. If you know a business that uses Square, please help us connect with them so they can actually keep the money they have worked so hard to earn. Very few, if any, businesses can survive a policy like this, and time is of the essence if businesses are to survive COVID-19 restrictions and now this. Please forward this message to a business you know that uses Square so they can find an alternative to this terrible policy by following the link HERE. Stay safe and stay blessed!
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One of the most common questions we hear, especially for businesses that use the Converge or Authorize.net gateway, is do we integrate with QuickBooks? We are very excited to announce that our Converge and Authorize.net gateways now integrate with QuickBooks through a third-party app! This app synchronizes the data so that you can take payment through our gateways over the phone, via an email invoice, on a mobile app, or through an EMV chip reader and have it synchronize with your QuickBooks program! We always strive to make your life easier, safer, and more profitable and we are very excited that we can now offer this service to you! For less than $30.00 per month, you can integrate either one of these gateways with your QuickBooks account!
If you or someone you know would like to work with a processor they trust and integrate it with their QuickBooks, now is the time to achieve the best of both worlds! All we need is a simple conversation to know what a business needs for their system and we can help them get a program that is easier, safer, and more profitable! Please help us spread this great news by forwarding this email to a small business that might need this capability! Stay safe and have a blessed day! Want better, safer, and more profitable processing that integrates with QuickBooks? Now you can! Apply now and integrate our processing with your QuickBooks! Coronavirus has changed and altered many components in our economy, from consumer behavior and consumer spending habits to supply chains and financing. In this video, we conducted a live presentation with Chad Tongco of Primaris Market Development, a small business consulting firm in California, to discuss how business can adapt in order to succeed in the radically different business economy in the post-COVID world. This is a video series and in this first video, one of the topics includes alternative financing and some preliminary information for that realm, such as when it makes sense, what it looks like, and how it can work. Click the image below to watch the presentation - it is a great watch during lunch! As always, if there is anything we can to help you and your business, please let us know!  |
AuthorMerchant Masters DFW provides online and in-house solutions with superior technology, high-level security, and unparalleled customer service that will elevate your POS Systems and Terminals to the next level. Archives
August 2020
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Merchant Masters is an Elavon Payments Partner and a Registered MSP/ISO of Elavon, Inc., Georgia (a wholly owned subsidiary of U.S. Bancorp, Minneapolis, MN)