If you sell Hypercom T-7P terminals, then you should consider adding PAYTRAN's time and attendance software, Card Clock, to your product offering. Card Clock is unique in that it resides in the standard Hypercom T7 series of terminals. This allows the merchant to enjoy enhanced utility from a credit card device and realize the benefits from this truly value-added offering.
As you know, credit card processing has become a commodity, and merchants are focused primarily on cost. As a result, acquirers are looking to value-added products and services to differentiate their offering in this highly competitive market. Interest in Card Clock is growing and I thought you might be interested in the opportunities it could provide your merchants.
Card Clock is an outstanding product that allows small to medium-sized merchants (ten to fifty employees) to manage their time and attendance on the same terminal they use for credit card processing. The Card Clock application does not interfere with the credit card memory capabilities and offers features found on much more expensive software at a price that is appealing to its target market.
A major benefit of Card Clock's sophisticated time and attendance software is that it greatly reduces employee "time shrinkage." As a result, employee productivity increases. Also, it eliminates the time-consuming process of gathering data from hourly employee's time cards, which can increase management productivity.
In fact, Card Clock saves so much time for the merchant that it can be proven to subsidize the cost of accepting credit cards. (Contact PAYTRAN for this argument, "A Savings of Time and Money.") Card Clock also minimizes the need to offer lower rates to obtain the merchant relationship. In many cases, matching the current rate will close a sale and provide you with healthy profit margins on credit card processing.
ISOs benefit by reducing account attrition and further penetrating this lucrative merchant market. Merchants will not allow competitors to reprogram their terminal because they will lose the time and attendance data. If they are offered a bid by a competitor of yours, the competitor must contact you; therefore, Card Clock prevents merchants from "disappearing" without giving you the opportunity to negotiate the discount rate. It also protects your residual income stream.
Card Clock also offers you an additional revenue stream from the sale of the software and hardware. The Card Clock software wholesales for $300 and competes with time and attendance software that retails for $2,500 to $3,500. In a Hypercom T7 series terminal with 512K memory, Card Clock can be sold for $1,500 to $2,000 and provide you with profit margins of $700 to $1,100 per unit.
Marketing Card Clock is easy. There are more than 15,000 members in the American Payroll Association. Developing referral relationships with these various payroll processors can generate numerous leads. Many payroll processors target the exact same market for which Card Clock was developed and would be pleased to refer business to your company. Some payroll companies will want to sell Card Clock with you; you can recruit these companies to become sales channels for you.
In America, there are more than seven million small businesses with 50 or fewer employees. Card Clock acts as a catalyst that helps close both credit card and payroll processing sales. Also, for about $100, Dun & Bradstreet can provide a marketing list of all businesses with 50 or less employees in a specific region.
Supporting Card Clock from a service perspective is minimal. The programming functions are easy to learn and the merchant is involved in the initial programming at the site to set up shifts, departments, and enter employees into the system. They become fully trained and are able to make any necessary changes on their own. They are also provided with an operating guide to reference in the future. The time and attendance data remains in the terminal so there is no reason for the merchant to call the service center with any time or attendance-related questions.
For more information on PAYTRAN's Card Clock time and attendance software contact Dava Jondall at (520) 547-5268.
