Take A "Pay It Forward" Approach To POS
By Jay McCall
A retail POS merchant services provider rescues a pizza shop owner from a payment processing nightmare by implementing a subscription-based POS solution.
Dave Iava has experienced firsthand what it feels like to be taken advantage of by a payment processor. A couple of years ago when he was still an owner of three fitness gyms, he contacted his payment processor vendor after being approached by another processor with better rates and inquired about switching. He quickly learned that it was going to be much more difficult and costly than he ever would have thought to make that switch. “The customer management system I was using was owned by the payment processor, and I couldn’t use one without the other,” he says. “My first thought was ‘That’s really sneaky!’ But the more I thought about it, I realized that it could be a really smart business model if the processor had charged more reasonable fees.”
Iava began researching other payment processors, and during this process he became interested in starting his own business providing payment processing services at a fair price and earning a residual income that would sustain him well into retirement. Less than two years ago, Iava started Plymouth Rock Merchant Services. At first, he focused only on payment processing services, but eventually he added POS sales and service to his offering, which he also sold as a monthly service.