Can one of the non-profit org, create a merchant account and cash the credit card for the drivers
at cost+expenses, instead of the 5% charged by yellow and 7% charged by another guy.
this will create a ton of volume and get decent discounted rate from the credit card processor also.
just because I drive a yellow cab, I do NOT have to use their swiping machine to charge the credit card and print a receipt. I could very well use some other swiper.
Re: non-profit cashing of credit card...YES! (MAYBE)
The answer is...YES! and MAYBE...
Easier said than done...also, the 'non-profit' status would be scrutinized and this presents the question...why do you suggest that it be a 'non-profit'? There's nothing 'wrong' with a group that performs the function you're describing to act 'for-profit'.
I doubt that 'a ton of volume' would be 'created', although your other points are valid.
A very interesting idea that needs more investigative discussion!
-Mike Foulks
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Replying to:
Can one of the non-profit org, create a merchant account and cash the credit card for the drivers
at cost+expenses, instead of the 5% charged by yellow and 7% charged by another guy.
this will create a ton of volume and get decent discounted rate from the credit card processor also.
just because I drive a yellow cab, I do NOT have to use their swiping machine to charge the credit card and print a receipt. I could very well use some other swiper.
