I, too, unfortunately received this notice last year actually and had no other choice but to move to another POS system 
Yea its a shame. Hopefully some other option for processing becomes available. There is a company called datacap and they offer a solution called NetEpay that I have used in the past on another POS system i had before Sambapos. It was great and allowed us to bring our own merchant services through it.
It would be great if we can figure something out with them
Hello,
We are the official SambaPOS distributor for the Northeast and Mid-Atlantic states and one of the regionâs largest Independent Sales Organizations by processing volume. We provide competitive pricing and tailored payment solutions designed specifically for restaurants and hospitality businesses.
We would be delighted to discuss your needs and prepare a personalized quote or demonstration at your convenience. Our team is committed to responsive service and a smooth, hassle-free onboarding experience.
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or call +1 (770) 901-2345
Thank you for your time and consideration. We look forward to the opportunity to support your business.
Sincerely,
Vhizy
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Have you tried picking up the phone, talking to them and asking for a rate review?
Or simply advise them you will be leaving unless they can do something with these rates.
As a highly competitive industry Iâd be surprised if theyâd not entertain you. After all they will be making 3.377% of $0 if they donât negotiate back down.
Far more expensive for them to replace you as a client than to retain you in situ.
Yes that was the first thing I did. I reach out on the 11th and followed up on the 16th. Both times they have told me customer service cant help me and that a rates review agent would call me back. I have yet to hear anything.
Like Vasillios mentioned, it was very hard for TSYS to get the fees lowered. They doubled my cc fees and only gave me a one month notice. I called them to get their lowest price and I was sort of successful in getting their lowest rate, but in the end, I was still paying $700 more than I was paying normally.
Itâs tantamount to extortion in my opinion. If I were you Iâd look for another solution and ditch them.
Do you have exceptionally high value transactions going through the terminals? Do you carry out risky transactions with a high number of chargebacks? If not I donât see what warrants such an excessive increase.
Not sure about the US but in the UK 3.377% is incredibly high. Highest Iâve seen actually. I would expect to see rates less than half of this even for a new business. Even your old rate is very high.
Standalone readers would be the best solution. Unless youâre a convenience store or something then the time/accuracy savings from integration is not going to offset the incredibly expensive rates your are being thrashed with.
The UK and EU have regulations over how much issuing banks and card providers can charge hence why we have relatively low fees here compared with elsewhere in the world.
The US on the other hand is, as far as I know, mostly unregulated regarding the prices that can be charged and it seems to just be âcharge as much as you can get away withâ. Compared to the UK, there also seems to be more players involved as middle men in the whole cycle, all taking a chunk of profit for themselves. The amount of profit that is made in taking card payments is enormous compared to the UK!
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Yea it was the same for me. They finally called me back gave me the âgood newsâ that they will lower my rates only to pay 500 more a month.
Yea Im going with a stand alone option. $10,000 a year in savings is too much to pass up.
It is a shame because integrated credit cards was an amazing feature. It helped so much with managing servers tips, and made the check out process so much faster and streamlined.
Update: I want to offer an update since this is something that may affect others on here. I heard back from them again and I was able to get them to go back and reverse my rates back to my old ones.
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Well done. Now just think of how many other people did not do what you just did and are now lining the bankâs pockets without needing to. Worth the effort and backbone to walk away.
Looking at it another way you could argue they should be discounting your rates for loyalty over the years, not increasing them. Itâs a percent rate so when your sales go up, so do theirs. They shouldnât need to increase percentages.
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