Category: Blog

Technology Companies Moving Into Financial Services; What You Need to Know

Posted on by celerocommerce

Just like in the merchant service industry, we are seeing major shifts in the financial services model within banks and technology companies who are quickly establishing themselves as offering more than just being able to process transactions or add items to an online shopping cart. With the rise of technology in companies such as Shopify, Stripe, and Square we are seeing a huge increase in the value of the analytic data that these companies continue to be able to obtain. If we look forward into the remainder of the 2020’s I believe that we are going to continuously see strong movement by forward thinking technology companies to go beyond providing services that they specialize in and instead, grow into new areas that compliment their already established product offerings.

Similar to the Point of Sale Industry there are players that aren’t as transparent or forth-write when it comes to explaining costs and fees, which in turn allows business owners the ability to make an educated decision. I think we are seeing cultural shifts where companies are establishing strong business practices and ethics that can translate across a lot of industries. An example of this would be seeing large players such as Apple, who started off offering computers and have since moved off into other avenues such as entertainment and digital wallets. If you are a leader in one particular category I feel that there is nothing to prevent you from taking your company’s core competencies and values and then taking those down different avenues of business. 

We are also seeing a lot of talk and a lot of buzz about open banking that is gaining momentum from Europe and now those conversations are travelling across to North America. What this means is that the traditional financial institutions have broken trust, such as back in 2008 when the lending crisis occurred, and these mistakes in turn are forcing financial institutions to make adjustments. This means creating a larger focus on customers by putting them first and also a heavier focus on technology. 

For SONA, we continue to be forward thinking in the fact that we have tried very hard to establish ourselves as a strong ethical company in the payment space and we believe that we have the ability to disrupt the common reputation of the industry by focusing on building that culture. We do this, not only by focusing on that, but also by promoting the benefits of the technology we offer and how it can help businesses. A natural transition for us, just like some of the other tech giants that are in the market such as Shopify, Stripe, and Square that are all moving into more of the financial side of business and extending capital to small business, we are looking forward to being able to do the same. The reason why, above anything else, that we are looking to offer these aspects to businesses is because we make it our mission to do the right thing and offer the best to our customers. If we can extend capital to business which then helps them to grow and hire more people, it means we can help do the best we can to help those companies thrive just as we have helped them with their merchant services. 

So what are some of the things you should consider being a small or medium size business who is looking at alternative lending or requesting capital from a technology company? I recommend that you look at some of the same areas that we would advise you on in regards to merchant services. With transparency; look at the total cost. Look at what’s being advanced, what the total amount is and when it is expected to be repaid. How are repayments being done? Are they being done as a percentage of sales so that the sales are lower so that you’re paying a smaller amount or if they’re higher, you’re paying a higher amount? Ask questions such as what is the factoring rate because you’re not going to hear about interest rates in a merchant cash advance or capital advance program because it’s not a traditional loan, it’s an advance on future receivables so make the time to find out what that factoring rate is. Look at the terms and conditions of the agreement and make sure that you find out who is responsible if in the event of a business shutdown like we have seen throughout the Global pandemic and how would that affect the advance? Most importantly, write those answers down and have questions prepared as you get into those discussions because just like with merchant services there are a lot of companies that focus on themselves first and disclose details later. It’s important that as an operator, you have all of the information needed to make an educated decision.

I can’t stress enough; Don’t take the capital if you don’t need it. With all of the types of capital advance programs that are available, they are always going to come at a higher cost of capital because the technology companies are relying on the analytics data of the business  to make the determination whether the business can shoulder the burden of the advance. However, any way that you look at that advance or capital, it carries a higher cost so as a business owner you need to be very strategic in thinking about what the return on investment will be for the capital that you will be getting back. That has to be factored into the decision on whether it is wise to take the advance or not.

Since its inception, SONA has focused only on forming alliances and partnerships with those who match our values. Whether it’s a loyalty company, one that offers gift cards, or an e-commerce gateway company, the same principle holds true to those who are working in the cash advance area. If, as an existing or potential customer, you are interested in that service by all means contact us, we are only ever going to align you with a company that we feel has your best interests at heart. 

Ryan O’Leary – CEO

It’s the Future; Contactless Payments and Crypto Currency

Posted on by celerocommerce


It’s the Future; Contactless Payments and Crypto Currency

At SONA one of our number one goals is to help our clients grow their businesses, helping them continue to employ new people and be successful. While the merchant service industry has been predominantly focused on helping those businesses grow by reducing their costs, we have found that there are very few companies out there that are introducing new technologies or payment methods to help their clients increase their revenues.

It’s true that there are a lot of product solutions that are emerging within the ecosystem around payments and payment technology. For any business that wants to be able to accept payments and get paid, one of the prominent focuses should be finding out how to appeal to a broader audience, and how to attract new customers that wouldn’t necessarily look at doing business with you today. For example, this could be the case for a car dealership that has a focus on selling more vehicles, but who is unsure of how to attract customers to purchase from their dealership versus a competitor. There are many ways this business could attract and retain customers; they could have a pricing strategy that is more competitive than the other dealerships nearby, or maybe they invest in building a strong ‘customer centric’ culture where the experience of buying a vehicle is simply better than any other dealership. You could anticipate both of these things would lead to success but I would suggest another way to make it easier to attract new customers, new ways, so your existing or potential customers can transact with you.

Beginning in 2020 and gaining momentum in 2021, we are seeing new emerging payment methods that are being introduced into the North American market. At SONA we want to do our best to let our customers know that these payment options exist and more importantly that they have customers behind those payment methods to attract.

Some of the fastest growing forms of payment that we have recently seen gaining momentum in the market are those such as WeChat and Alipay. We are seeing that these are both predominantly used in the Asian markets and they represent not only a new payment method but also an easier way to pay as technology moves more in the direction of mobile wallets. We are also seeing consistent growth in contactless payments such as Applepay and GooglePay; The commonality of these payment methods are shared in the technology they are working on. Namely, the Mobile Phone. If we look at the statistics of usage of contactless payment methods in the Asian market, it’s the prominent method of paying for goods and services. Now we are seeing a shift in demographics throughout Canada that lean towards using these types of payments and a growth in the number of people over-all who are opting for contactless payment methods. At SONA, being able to show our customers that they have the ability to accept those cards and those customers having the capability to advertise that, it attracts a whole new demographic which ultimately contributes to our goal of helping them grow their business.

Along those same lines, we are seeing a huge amount of buzz in the market around crypto currency. One thing that we can be sure of is that this form of currency is here to stay. We are seeing major financial institutions starting to build their strategies around endorsing crypto and figuring out how that’s going to develop as well as card brands. We look at Visa and Mastercard, two major card brands, that are also beginning to build their strategies around how they are going to be playing into this new market. SONA has made a decision that, as a company, this is not something that we are going to choose to ignore, it is something that we would like to embrace and learn more about. As we educate ourselves, we want to be able to provide the information that we learn to our existing merchants as well as our prospective customers. Specifically, looking at crypto currency, if we look at our partnership with NetCents, this is a relationship that is allowing us to offer another service and another technology to our clients to help them grow their businesses and shift with the changing times. We look at how Visa and Mastercard work in comparison with cryptocurrency; Along with the issuing banks, Visa and MC have safeguards in place to be able to prevent fraud, so there are rules around chargebacks, however one of the things that we are seeing with crypto currency is that because it is a secure electronic transaction through a ledger, there are no card-holder dispute options. I think we are going to start to see high-end jewelry shops, car dealerships, and businesses that typically deal with processing large transactions adopting this new currency to become the main payment method. If we look at the value of bitcoin, and some of the alternate currencies within crypto currency, we are seeing huge growth. It is prominently the currency of individuals that have large amounts of wealth so by being able to show that the technology we are offering today can work in conjunction with a supplier like NetCents it will only provide more options for our clients.

For me personally, one of the most exciting parts of what I do every day and what we do as a company, is getting to look at trends and new technology and make decisions to jump in and learn about them. To us it’s important to always stay current with new payment methods for the benefit of our clients. What drives me and makes me the happiest is doing what is best for our customers, so if we can have conversations with existing and new businesses and are able to articulate the benefits of something new to them that will contribute to their businesses success, deepening our relationship with our clients and ultimately, that is what it’s all about.

Values Drive Everything.

Posted on by celerocommerce

Over the last few weeks, I feel like I have been blessed with the opportunity to slow down, take a good look at the environment around me, and make some observations that apply not only to business, but also the world around us. During the first week, I was with my Entrepreneur Organization (EO) forum for our annual retreat. This is an organization I belong to that pairs a group of entrepreneurs together where you can confidentially discuss your personal challenges, wins, and plans in your business, personal, and family life. For the second week, I finally underwent a minor surgery for which seemed that I had been waiting for forever. I often forget about the value of pulling yourself out of your day-to-day business to surround yourself with others from completely different backgrounds or experience. It is amazing what lessons we can learn from these times of focusing on others around us versus the constant stirring cyclone of our own businesses.

So, what did I learn over the last couple of weeks that I am so anxious to share? Values drive everything in this world! I always knew they would be important to me when I started my company but taking a step outside of my business, I realize that these values transcend SONA or any business for that matter. I am talking about areas like humility, self-sacrifice, and personal responsibility. We are all trying to navigate the changes within daily life, dealing with one of the worst pandemics the world has ever seen. We just witnessed an election with our neighbours to the south that highlighted the deep divisions that exist between a population of our closest allies. This divide has brought out many of the negative values that limit our potential as citizens. Politics, business, and life in general, are all governed by the same principles; we know what is right and wrong. We are faced with decisions and situations every day that make us think of what values are important to us and how we want to shape the environment we live in. Let me tell you how a personal challenge I had reinforced the kind of company I chose to build.

I mentioned that a couple of weeks ago I underwent surgery for a relatively minor problem called an umbilical hernia. It appeared in early 2019 and apparently this was something that ran in my family. When my Family Doctor advised me of the problem, he was quick to refer me to a specialist. I met with that specialist maybe six weeks after this initial appointment and I was scheduled for surgery six weeks after that. Queue human hitting cannonball number one. Three weeks after that first specialist meeting I was contacted by his secretary advising he was closing his practice. He had been diagnosed with Stage 4 Pancreatic Cancer and sadly passed a couple weeks later. Since then, I have thought about him often. Here was a man who had centred his professional life around helping others heal, and he had been taken from us so early. At the same time, we have countless examples of corporate cultures that reward others for ‘beating the other guy’. We have leaders who indoctrinate themselves in a fishbowl that celebrates individualistic dominance over selfless caring for others.

When I finally made it to that hospital for a routine surgery last week I was scared! I had not been put under anaesthetic before and I felt frightened and alone. Meanwhile, the business owner in me couldn’t help observing the culture in the medical wing of the hospital as I went through the various departments leading to an operating table. From the initial walk into the room to change, to being wheeled into that operating room, I found myself amazed at how the nurses worked together to focus on me. Making me feel comfortable though the process of going into the operation and the post-surgery recovery. It wasn’t just one or two of those nurses and Doctors, it was all of them! There was a common purpose or why for them behind those actions. That why, was obviously grounded in a genuine common goal of putting the patient’s needs before anything else. I don’t believe this was something taught or learned, but was most certainly fostered in a work environment that has established a strong culture.

After surgery and the days that have followed, I can’t stop thinking about how I could apply these lessons to our team. SONA’s culture is one that builds on a foundation of putting our customers first just like this hospital has. In no way would I ever be so foolish as to say that what we do through advising small, and medium businesses on payment processing is comparable to what our First Responders do every day, but I can say that both organizations are grounded in the same values. The actions we take in interacting with our customers, vendors, staff and partners are grounded in the same values that spread across many other organizations and businesses. They make our goals and dreams bigger than ourselves and tie us to achieving something more than a positive figure on our bottom line.

What’s the lesson that I have taken from this experience? For me, it is to take the time to listen more as a leader. I could be wrong, but I believe my customers, my partners and my team know what is important to me in the culture of SONA. Just like those Nurses and Doctors who took care of me, I need to take the time to listen more to those around me to take care of those we work with today.

Ryan

CEO & Founder – SONA

What 4 years of being a business owner has taught me

Posted on by celerocommerce

As I quickly approach the anniversary of my 4th year in business, I find myself reflecting often about what I have learned; so many valuable lessons! I consider myself very fortunate to have the opportunity to build a company, and a team, in the same industry that I have worked in for the last 15 years — What an exciting time to be in the payments industry!

In the last couple of years, we are seeing technology and payments companies come together to offer ‘end to end’ solutions. We are seeing traditional commodity-based merchant service companies losing customers while smaller players like SONA have unprecedented growth.

So, what is driving this shift in our industry?

I think we need to look at some of the larger payment facilitators like Square, Stripe, or Paypal as the ‘big kids’ who have paved a path for many others. They have shown us that many business owners value a solution to their problems running a business, and they value a consistence understandable cost structure versus a convoluted pricing structure, that are difficult to understand. My opinion is 90% of payments companies just haven’t found an effective way to bring clarity to this piece of the payments puzzle and they create opportunities for many of the payment facilitators out there. At SONA, we choose to work in that other 10% space to find effective ways to educate our new and existing merchants in the components of rates and fees, and who are the players with their hands in the cookie jar. I look to leaders in the industry, so I am not reinventing the wheel but adding our own ‘SONA Sauce’ to the pot. Leaders like Helcim in Calgary, or Payfacto in Montreal, who have started with a transparent approach to merchant pricing but centered their value proposition on technology.

So, what are some of those bedrock lessons that I feel I have learned over my first, 4 years as an entrepreneur?

First of all — this is harder than I thought it would be! I think I may have been a little naive around understanding the challenges of building a successful business. Sometimes it feels like that cartoon where you are in a boat and one hole pops open and you cover it with your right foot and then another opens, and you cover it with your right hand and so on… You know what I mean?? Your business always has areas of shifting needs. HR, Marketing, IT, Legal, Finance; as a small business owner, we start out wearing all of these hats and focus on plugging the holes as required. The important lesson I take from this is ‘Don’t sweat the small stuff’ and ‘Let others carry the torch’ because there is no perfection in business. It is a canvas that changes with each day, with different people and varied influences. The best we can do is accept the fact that it won’t be perfect; we can strive for perfection but need to accept that it is completely OK for there to be holes in our boat that we can’t plug immediately. The best thing we can do is invite smart, qualified and ethical people on board to help us put plugs in those holes.

My second lesson has been a hard one filled with lots of mistakes along the way.

This lesson gets down to People and Culture. When I decided to leave the ‘Big Bank’ side of the industry and carve my own path to build SONA, I took the experiences I had speaking to so many other business owners over the years. In the process of seeing thousands of businesses, I began to see the most successful ones were companies who had a transparent message around their culture. They were clear with their internal staff, external partners, and customers, around what is important to them. These values were set as a foundation to the house that everything would come back to. On the other side, I had the opportunity over several years to sign up businesses with merchant services only to see them fall off my report after a year or two. Many of these businesses (but not all of them) seemed to lack the substance of setting these core values and mission statement. It can’t simply be just about the $$ and growing the business, because great businesses know that financial success is just a by-product of their ability to do the important things ‘right’.

I now know that my job as a CEO and leader of my company is not only need to establish those Mission, Vision and Values for SONA but I need to ensure they are buried in the fabric of everything we do and everyone who does it. This is the foundation of the house, and while it can be easy to get distracted, start building the ceiling and forget about the foundation, we have to stay grounded.

What an amazing group of people I have to work around!

The learning around the topic of ‘people’ over the last 4 years, has been filled with costly mistakes. The biggest lesson I have had regarding this, is you need to look for individuals who share your values when building a team. People who value collaboration, respect, honesty, integrity and empathy. These people are the ones who will carry your companies’ culture throughout all aspects of how you do business. They are the living fabric of the ever-evolving painting that is your business which is changing and weathering storms every day. These amazing individuals get to help write the story book of SONA as we move forward in the years to come – How cool is that?!

The third lesson I find I am often reflecting on is always be a student. There is a degree of humility that you need to search for every day to force yourself to always be learning. Over the years I have had the opportunity to work with so many talented business owners and executives and there are so many lessons to be learned from these people and their experiences. If you don’t have that humble outlook on life and business, you lose out on all the lessons that are right in front of you. I have witnessed many of the ‘bullies’ of the business world over the last 4 years and often wonder how sustainable this approach to growing and maintaining their business can be? Don’t confuse humility with being decisive though; we can all be humble enough to accept feedback and learn from everyone around us, but still be confident to make a decision and live by it!

This takes me to one of the most important lessons for me and one that I personally still struggle with.

It is grounded in the realization that you need to make mistakes; you need to make sound decisions and not deviate from them. We simply need to accept the fact that some choices we make may be wrong and there will be consequences. It is in making these mistakes that our biggest lessons are learned. As I said, this is one I still struggle with as I consider myself the preverbal ‘baby’ of the business world. I can tell you it is in the times that I have been the most decisive where I get the most career satisfaction. Decisions grounded in gathering feedback from those around me, thinking about it logically, and then ‘pulling the trigger’. It is in those mistakes that the real learning takes place.

All in all, it has been a great 4 years! I am very lucky to have great relationships with many of the companies I compete with. I can tell them where we are heading and that shows fairly quickly who has values that align with us. I am grateful for the support I have received from family, friends, partners & suppliers as I look forward to mapping SONA’s future. Our goal is to disrupt the status quo in the payments business while earning the respect of our team, merchants, and partners. I believe confidently that the team we have today is the best group of people to help achieve this goal. The next decade is going to be a lot of fun!

Ryan

CEO & Founder – SONA

Understanding the not-so-simple world of POS

Posted on by celerocommerce

In the ever-changing world of Point of Sale technology, business owners have new challenges on their plate when evaluating which company to choose. For the most part, the process and experience of selecting a POS system and Merchant Service provider to work with, has been dramatically different in the United States than in Canada. In the US, you can often be setup for your POS, Gift Cards, and Merchant Services, all from the same supplier. While this one-stop-shop may seem like an easier process for the business owner, it can also be more costly.

Why is that exactly?

The credit card processing industry can be EXTREMELY complicated and considerably different in Canada than in the United States. Most business owners understand that the Merchant Service providers they work with charge them different percentages or discount rates, depending on the type of industry the business operates in, and also the type of credit card that is processed (rewards cards, corporate cards, or international cards). The rate also depends on if the transaction is manually keyed or inserted electronically into the payment device. A large percentage of these transactions are paid from the processor back to the card associations; known as Interchange. Interchange fees are set by the payment association (Visa & Mastercard) in conjunction with the card issuers or issuing banks. With far fewer banks in Canada compared to the US, we have a much smaller number of card types with different rates. There are approximately 50 different rates for Visa, and Mastercard, based on the criteria mentioned above. However in the U.S there are thousands of banks, with each one issuing their own type of credit card, thus setting their own Interchange Rate; this means there is over 500 different Interchange Rates in the US for each card plan!

So, how does this situation impact a Business Owner choosing a Merchant Services Vendor in the U.S vs. Canada?

While it’s true that it is extremely difficult to get an honest explanation, in both the U.S and Canada, of what you will actually pay, it is more challenging in the United States. Business owners operating in Canada have been fortunate to have associations such as CFIB (Canadian Federation of Independent Business), RCC (Retail Council of Canada), and Restaurants Canada, who work with Government, card issuers, processors, and associations, to bring more transparency to the industry. This has led to a more educated Owner/Operator when evaluating which Merchant Services Company to select. Within the payment processing industry, the United States is often referred to as the ‘Wild West’, as there seems to be no regulation. This has made it nearly impossible for an Operator to know what fees are Interchange, and which fees are set by the processor.

With the U.S. having little regulation, it has created an environment where we often see profitability three-times higher on an existing merchant service contract in the United States than what we would see for that same merchant in Canada. This coupled with the fact that processing volumes are often considerably higher for US merchants.

How does this model contribute to the ‘one-stop-shop’ for a POS, and your Merchant Services?

Easy!! Give away the POS, or promote it at largely discounted price, and make the owner commit to using your merchant services company. The costs of the hardware, software, and support, are recovered quickly when charging 3-times as much in credit card processing fees. Once again, it’s difficult for a business owner to truly understand what fees are the processors interchange cost, versus what fees are theirs; they often just accept it as ‘it is what it is’. This combined with a fast-paced environment in the US, leads to more impulsive decisions rather than gaining clarity on where the rates are coming from.

Many of the largest, and most reputable POS companies know that applying this U.S model of tying credit card processing to Point of Sale in Canada, is a recipe to lose clients. They understand that the only way to apply this model would involve charging higher credit card processing fees, which could not only lead to them losing their client’s merchant services, but losing that client entirely. In fact, many of these same POS companies that operate in Canada, and the US, treat credit card processing completely different. In the United States they follow this US model.  In Canada, they understand the environment is different, therefore they certify to multiple processors. This gives their perspective, and existing clients, the choice to pick their own merchant services company based on pricing, service, and reputation. This combination of more-educated business owners, and a regulated credit card processing industry, create clarity within an industry that by nature, just isn’t that transparent.

My advice to any business owners who are contemplating this combined POS/Merchant Services model, would be centered around asking more questions and carefully listen to the answers you are provided.

Questions such as:

  • What are ALL the fees you would be charged from the processor that this POS Vendor is mandating you go with?
  • What assurances are you given that these costs won’t change?  Who else in Canada is using this type of combined solution?
  • What kind of Canadian support center has been established to support billing concerns or statement questions?
  • What infrastructure has been established by the merchant-services vendor to provide on site support and equipment replacements?
  • If you elect to stay with your own merchant services provider, how much more will you be charged and why?

Let me give you an example— If they tell you it will be $2,000 more per year, you can rest assured that this $2,000 would ultimately be buried into your merchant service fees anyway.

I met with a local restaurant owner recently, that unfortunately left us to go with a POS Vendor certified to only one Merchant Services Vendor, and I really wanted to understand his decision. What I found out when I sat down with him was that his choice was largely driven by impulse, based on the dissatisfaction of the costs associated with maintaining his original POS.

I asked him the question: “How do you think your new merchant services company feels about providing you consistent pricing, knowing they are the only processor certified to your new POS?”

He replied: “I didn’t even think about that!”

I can tell you that the merchant-services vendor he signed with, definitely knows this business owner’s options are limited. When I asked if he compared the merchant-service rates of his new provider to SONA’s, he replied, ‘‘I didn’t really look at that, as I was more focused on the POS savings’’. This is the exact response that this Restaurant POS dealer is hoping to receive. They want those restaurant owners to direct their frustration at the high cost of the Point of Sale systems, both from the perspective of paying for upgrades and service, as well as the cost of the POS. By empathizing with the Restaurant owner on these high costs, and telling them ‘these costs will all but go away’, the marketing message plays right into their hands.

I believe we are fortunate as business owners, to be in a marketplace that provides us the ability to choose who we work with as suppliers. The reality is that those decisions are often based on a combination of who has the most competitive, and consistent, price. In addition to pricing, my decisions are based on who will effectively provide the best service, but most importantly, they are based on who I TRUST.  By POS Suppliers tying the purchase of their systems to another industry that provides a layer of complexity, such as credit card fees, my advice is to make sure you have that level of trust with who you choose to work with!

Why you need to swipe more this holiday season

Posted on by celerocommerce

In today’s world, we’re swiping. Swiping left for love interests, swiping up for our favourite TV show, swiping over for the perfect picture— it only makes sense to give the gift of SWIPING!

Traditionally, friends and family would purchase gift certificates for the perfect gift. You’d go into a restaurant, you’d give your dollar amount and you would receive a folded piece of paper in an envelope and CHECK! Your gift-giving is complete!

Now you load up your reusable card and swipe until you need to reload. 

☕ Coffee- swipe

Noodles – swipe

Afternoon cocktail – swipe

But gift cards go beyond the convenience of swiping — they’re essential to any business owner planning for success in 2020. 

WHY?

BETTER FOR BUSINESS

  • Easy 
  • Efficient
  • Opportunity

Your business is growing, you need time to process as many purchases as possible. This is why gift cards are easy. Not to mention easy to set up, package and deliver — whether it’s by mail or in a stocking. 

Efficiency keeps the business wheels turning. If you’re going to do something, then efficiency is high on your list when you do it. So if you’re lost for cash, too busy to count bills or even write out cheques— gift cards keep it real and work for business and customers.

Have you been through the Starbucks drive-thru and your gift card has reached the end? What’s the first question they ask, “do you want to reload?” There is always an opportunity to use the gift card again and your customers are buying more, more, more.


NOW LETS TALK SHOP- BUSINESS 

You care about the books, reporting, staying on top of every transaction. WELL—  YOU CAN!

Electronic gift cards provide FULL electronic reporting— by default! (mind blown!)

And, as much as we like cash, with gift cards, you NEVER provide cashback. Speeding up the processing time and leaving customers with ‘breakage’ (the amount left on the card that’s never used) Use the card, buy what you need and swipe until you can’t swipe anymore. Or, reload and never stop swiping.

It boils down to what works for your business. And vintage gift certificates are not the way of the future. Gift cards work on many levels— they’re quick, easy and the best resource for your business and POS machine. Customer turnover is faster, your business makes more money and is able to process more sales. 

Using gift cards in combination with your POS machine seems like the perfect pairing. Knowing that you’re able to sell and receive gift cards means you’re ready for this holiday season. Technology and society have moved away from gift certificates, as you move with them, you’re growing and scaling an efficient business that is ready to make money and serve more customers. 

So, make sure your business is swiping and moving forward to success!

5 Payment System Softwares That Will Grow Your Business

Posted on by celerocommerce

The world of technology is ever-changing, making it challenging for business owners to know what’s the ‘best of the best’ for their daily business operations and (bold) for their customers.

We get it — you set up your point of sale system, everything is working ‘a-okay’, but then there’s a new, shiny option that lands on your desk. How do you know when to shift over to a new POS? What makes it worth it?

Now, payment service providers are combining merchant services with your business’ point of sale system. Say goodbye to paperwork and time-consuming admin tasks— and say HELLO to efficiency and streamlined point of sales technology. You will soon forget the vintage POS Machines, and know what it’s like to offer the best business practices to your customers.

Is now the time to switch over to something new?

Below we outline the 5 payment system software companies that are changing the game in payment services— making your business cost-effective and your customers happy.

eConduit

A global technology that put it all in the cloud

Being in the cloud provides unmatched reach – we can go where our competitors can’t and address the needs of our clients in days versus years. Once a new solution is available, it’s available to all.

The perfect marriage of reliable and fast action— eConduit saves time and money. Staying up to date is not an issue, which keeps businesses systematic and productive.

SecureTable Pay

A US system that provides quick table turnaround- more customers- booming business

SecureTablePay is an EMV pay-at-the-table solution, for both chip and sign and chip and pin cards. With a decade of field-proven innovation in over 2,000 restaurant installations, SecureTablePay is now fully certified and available in the US marketplace.

Customers hate waiting, and with today’s quick turnaround, businesses are struggling daily with keeping up! Restaurant owners want their customers to feel appreciated. And because turnaround is so important in the restaurant world, having happy customers is crucial to business. Having technology that improves customer service while allowing more patrons to be served— well, that’s a no brainer!

SoftPoint

Streamlining restaurant’s point of service needs

With the use of cutting-edge technology, smart devices, and innovation; SoftPoint provides applications to better run your operations and back-office management. SoftPoint provides your customers with a better overall experience.

Word of mouth means a lot, especially in the food and drink industry. You want to add that special customer experience with the one on one attention you know your customers deserve. POS Machines can allow extra time to be devoted to your customers. Choosing a POS Machine that has up to date technology designed for restaurants can take you to the next level— know that it exists, you just have to know where to get it. 

Paymentree

Explore payment possibilities—  integration is KEY!

This easy solution allows the software developer to quickly bring their offering to market, while eliminating the need for product certification and reducing in PCI compliance issues.

Having it all is one thing— having it all in one place, that’s just smart business. With software integration, businesses are now able to serve more clients, obtain more customers and enrich the experience by offering maximum payment providers with one terminal. 

eThor

Operations vs. Technology, maximizing profitability and making operation practices easy

Integrated payments are the key to profitability. This technology connects point of sale to your device, then (in real-time) you start creating an experience that is convenient to customers and organized for servers. It might just have it all. 

https://www.youtube.com/watch?v=Sp63ddPc_ls

Having the most up to date technology in a world that is ever-changing can seem like a task impossible to keep up with. In every aspect, challenges arise. Let’s shift the perspective. Know that you can keep your customers happy with a POS Machine and streamlined technology—  leaving you more time to nurture customer relations and scale your business. 

POS Machines are evolving with technology, make sure that your business is too.  

Sonapay offers the best technology in a world that is continuously updating. Finding the most efficient software for your business is our top priority; coupled with the best POS machine, we can help YOU find the perfect match!

NEW KID IN TOWN: How Sonapay is changing the face of payment providers

Posted on by celerocommerce

Tired of losing money that’s better spent on your business development?

Your point of service machine should bring your joy — does it?

In an industry known for hidden fees and complicated contracts, we put it all on the table with clear, honest, transparent information and a fresh approach. Say goodbye to stress and hello to the essentials that make your business awesome!

“I knew there was a better solution for business’s payment needs. I was working in the industry and started realizing that the big companies and banks that are providing payment services, were taking advantage of customers. I wanted to start something ethical and reliable- so I created Sona.”
– Ryan O’Leary, Sonapay CEO.

So does your POS Provider check all your boxes? Or are you living in the dark days with outdated technology and lackluster customer service?

There are hundreds of people already using Sonapay’s point of service systems because of the unique company style and unconditional terms. Sonapay has revolutionized how Canadian companies best serve their customers. Sonapay was created out of need — business owners weren’t getting what they needed from the big payment provider companies.

We’re different. Sonapay is the payment provider you always wanted.

What sets us apart?

Customer Service: putting clients first and doing what’s right for your business
Our Team: hand-selected with over 50 years of combined experience, we are the best people to deliver you the best systems
State of the Art Technology: Our machines are top of the line, proving to bring efficiency to your business

But, the proof is in the pudding:

“Sona showed us how we could significantly cut costs and provided a high level of service that we are very happy with. They are an asset to our business and our membership.” – Amber Thomas-Johnson – HALIFAX CHAMBER OF COMMERCE

“As the owner of Three Choice Properties, we have recognized substantial savings since we
switched to Sonapay. The savings go directly to our bottom line – it’s like found money each
month! We have found the service to be exceptional and the statements are easy to read
and reconcile. I wouldn’t hesitate to recommend Sonapay!” – Judy Sparkes-Giannou
CEO – Clayton Hospitality Inc.

Businesses are looking for reliable service with a payment provider who guarantees savings, up to date technology and unconditional service. Bonus — you can leave at any time. Stop paying fees you shouldn’t be by becoming part of the Sonapay family. We promise you’ll fit right in!

Dive in with Sonapay, you won’t regret the switch!

4 reasons you should consider switching payment providers

Posted on by celerocommerce

We knew there was a need to make the point of sale industry honest. From provider rates to client services, customers can feel taken advantage of, simply by the lack of information available in the point of sale industry. 

You’re shopping around, you trust the ‘big guys’ – you ask yourself:

  • What are your rates?
  • How are you different than the rest?
  • Is your technology up to date?
  • When can I speak to a representative?

ProTip: Don’t trust the ‘big guys’.

When you start looking for the best credit card processing company for your business, you have to go with the team that is going to give you and your customers what’s needed to do business efficiently and affordably, it’s your business after all. At Sona, we care about our customers. We build trusting relationships, coupled with the most up to date technology and upgraded machines. We’re honest and will work with what’s best for your business. 

Here are 4 reasons why your business needs Sona. 

1 – CUTTING EDGE TECHNOLOGY

Powered by First Data and it’s suite of point of sale solutions, we offer cutting-edge technology to improve your business and commerce transactions. We have over fifteen years of industry experience, so we know what you need when making sales: a streamlined service that is fast and reliable. That’s why we have partnered with the leading global payment processors to control fees and pricing. With Sona, you know your payment processing equipment is secure and state-of-the-art.

2 – CUSTOMER-FOCUSED APPROACH WITH MARITIME HOSPITALITY

Have you ever been to the Maritimes? If you have, you get it! Sona was founded in Nova Scotia, the heart of the Maritimes where people are open, honest and friendly. We carry this mantra throughout the nation: from Newfoundland to British Columbia, we appreciate our customers, understand their needs and we’re with them every step of the way: from set-up to maintenance. 

3- OUR STRENGTH IS IN OUR PEOPLE

Our agents are the face of Sona. Not only do we take time in, handpicking the perfect fit, but Sona agents also offer proper support and training: basically they live and breathe POS machines. 

We’re transparent, customer-focused and run a business that is proven to be successful. Our agents are invested in making your operations and payment processing top-notch!  

4- WE MEAN WHAT WE SAY AND SAY WHAT WE MEAN- BUT THAT’S OBVIOUS!

Spending 15 years in the Merchant Services Industry, our CEO Ryan O’Leary knew there was a need for a more ethical way of operating a merchant services company. His vision was for business owners and CFO’s to see their merchant services provider as a trusted partner. When Sona offers transparency, we deliver. Business owners build strong, lasting relationships with their Sona agents and become part of the Sona family. 

You’ve got your business, you’re thriving and scaling. Now you need efficiency from a company you trust. Let our team help you take that next step in your business and become your trusted partners in payment services.