How One Asphalt Supplier Saved Nearly $15K in Three Months
When Nic Morris joined LoJac – a construction material and service provider in Tennessee – as the IT director in 2011, he quickly realized the payment acceptance solution for their asphalt locations was inefficient at best.
“I had 11 different log-ins – one for each location – that I had to have as the administrator. So you can imagine the headache with passwords expiring or guys not putting in their passwords correctly and getting locked out. It would take me a half-hour to change a password for each location. It was a nightmare,” Nic recalls.
So when he expressed his frustration to a business contact who recommended i3 Merchant Solutions, he was ready to listen.
Carrying Large Sums of Money “Didn’t Feel Safe”
Asphalt supply is the only portion of LoJac’s business that takes credit or debit cards, and – until seven or eight years ago – most people were paying for asphalt with cash. “Some of these transactions would be $20,000-plus, so customers would pay and then someone on our end would have to immediately deposit it in the bank because they wouldn’t feel safe walking around with that much cash on hand,” Nic says.
Efficiency, Customer Service and Savings – Switching to i3 Merchant Solutions Just Made Sense
If Nic could find a secure, efficient solution, he was ready to make the switch. He immediately learned he’d get that efficiency – and then some – with i3 Merchant Solutions.
Nic connected with a payment processing advisor, who set LoJac up with one of i3 Merchant Solutions’ preferred payment gateways, PayTrace. PayTrace’s online interface allows Nic to manage all 11 locations from a single log-in. Plus, PayTrace securely stores card information, which is encrypted, for repeat customers. “It’s nice not to have to run a card every time.”
The email receipts Nic’s team can send customers is a big win, too. LoJac employees running the credit card transactions used to have to resend copies of the receipts to the truck drivers moving the asphalt because they’d usually get lost in transport.
“When I ask i3 Merchant Solutions questions, I get responses back quickly and with the other company it was like pulling teeth to talk to someone.” – Nic Morris, LoJac IT Director
Despite LoJac recently being purchased by another company, they were able to save nearly $15,000 in its one year with i3 Merchant Solutions. This is because i3 Merchant Solutions specializes in level 3 and large ticket processing – a practice designed specifically for business-to-business transactions. Level 3 and large ticket essentially means the more data you collect during a credit card transaction – and the larger the volume – the lower your interchange rates.
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