A while back, Braintree was offering a special – process $50K worth of payments for free. You bet I signed up! And at a standard 2.9% rate, this represented a $2500 savings over the lifetime of the offer. But all good things must come to an end, and I noticed that last week, I started paying fees on Braintree transactions. Ouch!
So what’s an entrepreneur to do? My suggestion would be to get creative with your best customers, and ask them to use fee-free bank-to-bank payment options rather than a credit card. Here are a few you can check out:
Venmo – Venmo has been around for a while and was acquired by Paypal in the Braintree acquisition of 2014. Venmo is heavily tilted towards mobile/Facebook, so it makes sense if that’s your demographic.
Zelle – Zelle is pretty new and supported by a wide swath of big banks. I think it might take off and become a Venmo-killer.
Google Wallet – You didn’t really think I wasn’t going to talk about Google, did you? 🙂 Google Wallet is interesting because they offer more fraud protection than many vendors do – if this is a concern for you, take a look.
These payment methods are really more designed for individuals rather than businesses, so don’t hold your breath for an integration with your favorite shopping cart, but you might want to offer these methods for settlement with your best customers, and split the fees with them. Who wouldn’t want to save 1.5%? – on $2,000, that’s $30!
This can be done but there are a lot of variables involved. (If it was a simple mod, I’d package it up as a simple mod!) So I offer it as a service. It’s called Free Shipping Recalculation. It recomputes your free shipping threshold based on the subtotal after discounts.
Free Shipping Recalculation works, whether you are using Admin->Modules->Shipping->Free Shipping Options or Admin->Modules->Order Totals>Shipping to set your free shipping threshold.
This video demonstrates the creation of product packages (groups of individual products) that can be sold as a discounted group with a single click in Zen
Cart, using my mods Discount Chooser and Extended Family.
For a lot of stores, it makes sense to build “product bundles” that can be sold with a single click. As long as your products don’t have attributes, you can easily do this with Zen Cart Extended Family.
Discount Chooser simplifies the process of creating discounts based on items in the cart. You can create buy one, get one at a discount, buy two get one at a discount, or buy get a choice of at a discount. Item specification may be done by category or by product.
If you want offers involving more than just two items, Discount Chooser is a better option for your OpenCart based store than Better Together. An example of this would be "buy two, get one free."
Better Together Admin allows you to easily create “buy one, get one” discounts for your OpenCart based store. And it works right through your regular admin panel; no need to edit code to create the discounts. Here’s a video: