Hybrid restaurant point of sale system Bevo POS has added a few new features to give restaurant owners a serious edge.
These new features include support for convenience fee charges for customers, which allows restaurants to reduce the impact of credit fees by moving part of those fees to customers and also for the option of a surcharge on credit card charges deducted from employee tips to be added. Bevo POS users across the nation have responded with enthusiasm to these exciting new features.
Bevo’s research has shown most restaurants pay around 3% on Visa, MasterCard and Amex fees, if we assume a restaurant makes an average of $50,000 a month this will be $ 1500 a month in savings for the restaurant owner by using this new feature. Of course, that’s a very significant amount of money.
According to Bevo POS, the Convenience Fees charge is legal in all but ten states. The states which limit or don’t allow convenience fees include Colorado, Connecticut, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas. California’s and New York’s laws limiting surcharging have been enjoined from enforcement pursuant to court orders, but appeals are pending.
An order upholding Florida’s law limiting surcharging was reversed on appeal, but remains subject to further litigation. Restaurants are advised to be aware of their own state’s laws on the subject, which is very important before using the Bev POS feature.
A second feature, which can greatly help restaurant owners that has been added to Bevo POS is the ability to add a service charge to the tips staff receives by credit card. This lets the owner set a percentage cost for each of the different card types and deduct these credit card fees from the tips that are collected by credit card transactions. For a restaurant with $50,000 a month sales, which will usually bring an average of 20% in tips and roughly 80% of that would be collected by credit card transactions the total would be $8000 a month. If the restaurant setup a 3.5% on tips this will be $280. Totaling $1780 a month in savings for the restaurant per month or a full $21,360 a year in savings.
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