Kevin O’Leary – Credit Card Processing Options… and COVID-19
6/13/20: Business owners must watch. This is a great example of how Bay State Merchant Services can help, especially now. The merchant in this interview - Kristan Sayers, owner of Kbella hair studio in Brighton, Michigan - says that she will only be able to do 30% of her typical business due to COVID-19 and is concerned about consumers feeling unsure about entering her business. In addition to her significant loss of revenue, now she has the added expense of PPE, including face-masks, gloves, and hand sanitizer. Kristan is also concerned about her high credit card processing fees, and asks the panel for recommendations. Kevin O'Leary's only answer to these issues is to "shop around" and look for better card rates. THIS IS NOT A GOOD SOLUTION! Kristan mentions that her payment processing fees are between $10,000 and $15,000 annually, and that she's looking to eliminate these fees. ...Thanks to Congress, she can do this. All businesses can do this. Bay State Merchant Services's Cash Discount Program…