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$9K savings a sweet treat for Wollongong Bakery

When we caught up with Jim, the owner of Gwynneville Bakery in Wollongong, he was doing something he rarely did before: taking a break.

It was something he could now afford to do since Zero Cost™ EFTPOS had put the brakes on his EFTPOS fees.

“We are saving $9000 per year now.”

Front of bakery

“We’ve used that money to take on part-time staff. And that means, we can all have the odd break from time to time.” Jim says.

Cash goes out of fashion with Covid

Over the 18 years of owning the bakery and cafe, Jim and his family have seen plenty change. But a recent shift in the way people were paying was punishing his cashflow.

“EFTPOS costs really started to climb with Covid, and everyone started paying by card and mobile phone. 

“Now no one is carrying cash anymore.”

Bakery front of house display case

According to the Australian Banking Association, card transactions rose by 36% in the three years to January 2023, while cash withdrawals dropped by 16%. With more people using cards Jim’s bottom line suffered because he had to pay a 1-2% processing fee per transaction.

“A while back we changed from one bank to another, to reduce our costs. However, with Covid, the fees got to a point we could no longer sustain.” Jim explains.

“We heard of Smartpay and got in touch. It was one of the smartest things we ever did.”

Changing the recipe on payments

“Cash flow is everything for a small business like ours and Smartpay’s Zero Cost™ EFTPOS has been incredible for that. It has removed our EFTPOS fees altogether. “  

Zero Cost™ EFTPOS allows Merchants to accept payments without incurring transaction fees. It does this by calculating a small surcharge for each payment and adding it to the customer’s total, providing a transparent and cost-effective solution.

Assorted breads in racks

The right ingredients for a great payment experience

“The Smartpay payment experts are nice to talk to and get the job done quickly and efficiently. The setup process was super easy, and we also love the terminal. We just punch in the amount and everything else is taken care of. “

“Smartpay makes switching to Zero Cost™ EFTPOS a piece of cake.”

“We have not had any adverse effects from adding a surcharge either. Our customers understand we are a small business and I think surcharging has become the norm now.”

Zero Cost™ EFTPOS a change for the better

“We are saving $9000 per year in EFTPOS fees, and that saving is really helping.  It can be tough for a small business, so it’s great when a company like Smartpay comes along and helps you save on fees,” says Jim.

“We’ve already told 3-4 businesses to look into Smartpay. We are all in the same boat.” 

Want to know more about surcharging?

If you’re keen to learn more about how surcharging on EFTPOS works, or what you could save, find out more about Zero Cost™ EFTPOS. To talk about how surcharging could work for your business, get in touch with the team at Smartpay.