If you’re a bar owner, then this article is for you. We love bars. Bars are our favorite place to go out and have fun with friends or just enjoy a drink after work. That’s why we do everything in our power to help them reduce costs so they can offer the best possible experience for their customers. In this blog post, we’ll discuss 3 ways that SipScience POS integration helps bars save money!
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3 ways SipScience helps bars reduce costs, financial risk and increase profitability
Chargebacks: a thing of the past
First of all, Chargebacks. Chargebacks are a huge headache for bars and can seriously damage the bottom line if not handled properly. While it’s true that chargebacks are inevitable in some cases (e.g., customer disputes), there are steps bar owners can take to drastically reduce their chance of experiencing this problem with SipScience! Chargebacks happen when a customer disputes the charge on their credit card. Chargeback fees can be around $15, and if your processor gets hit with too many of these per year they may even blacklist you! Chargebacks are bad news for bars because that cost comes out of their bottom line. SipScience enables bar owners to prevent all types of Chargebacks.
With SipScience, your customers simply sign the check and we do the rest! Chargeback fees are a thing of the past since we automatically dispute the chargeback and provide proof that their drink was purchased. If the dispute fails, we will shoulder the cost of the chargeback.
Credit card fees, on us!
Secondly, credit card fees. These are the hidden costs that many bars don’t even know they’re paying! Bar owners typically have to pay between 2% and 4% in processing fees just for accepting credit cards. In fact, according to reformingretail.com, a blog focused on studying trends in the offline world, for a $200,000 monthly volume, a bar pays between $4000 and $8000 in credit card fees alone. Given current wage inflation, this sort of cost is significant.
With SipScience, bar owners pass this cost onto us.
Payment failure: it happens… not with us!
The last way we help bar owners save money is by preventing payment failures. Payment failures can happen when a customer’s credit card is maxed out and they cannot pay. With SipScience, when a customer checks in, we pre-authorize a charge on their credit card. This ensures that it has enough funds to cover their tab. This ensures that the customer will pay for every drink they have, even if they don’t realize it at first!
We hope this blog post was helpful. Our goal is to inspire bar owners around the world to try SipScience. With SipScience, chargebacks, credit card fees, and payment failures are a thing of the past.
To try SipScience with your POS, follow this link.