Qantas - Qantas Frequent Flyer
Member since 09 May 2013
Total posts 346
What do you guys think of the new Live Eftpos machine that gives qantas points for eftpos transactions.
Member since 23 Oct 2013
Total posts 767
Member since 24 Apr 2012
Total posts 1,112
If your margins are phenomenal it's something to consider, but 2.75% is a big hit to take for processing Visa or Mastercard (heck, even AMEX can often be below 2% if you don't 'differentially surcharge'), but if you'd otherwise be paying 1% on these transactions, each point would be 'costing' you 1.7c over and above the merchant rate you'd otherwise be paying via this system.Many people pay credit card surcharges higher than that to earn the same or a similar number of points, but it would really depend on the size of your business, your margins and your ability to use those points in way that brings value to the business (and at that rate, you'd need to be using those points to book business class or first class travel). For very large businesses the costs would probably outweigh the benefits, but for smaller businesses it may make sense under the right circumstances, depending on your transaction volume and other factors.
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