Member Pilot Program
Between February and July 2022, Retail Drinks and Payments Consulting Network coordinated a comprehensive Member Pilot Program with several small, medium and large liquor stores across several Australian states and territories. With current average annual merchant fees of $10,122, the trial of the new merchant services Pricing Comparison service resulted in identifying an average annual fee saving of 42% ($4,244) with the best alternate payment services provider, with savings ranging from 32% to as high as 52%. With the second best alternate payment services provider, the average annual fee saving was 29% ($2,933), with savings ranging from 15% to 41%. The summary results from the member pilot are displayed below:
Store | Current Annual MSF |
Best Alternate PSP ($) |
Best Alternate PSP Saving ($) |
Best Alternate PSP Saving (%) |
2nd Best Alternate PSP ($) |
2nd Best Alternate PSP Saving ($) |
2nd Best Alternate PSP Saving (%) |
---|---|---|---|---|---|---|---|
Member #1 | $7,593 | $4,499 | $3,095 | 41% | $5,504 | $2,089 | 28% |
Member #2 | $8,543 | $5,509 | $3,034 | 36% | $6,650 | $1,893 | 22% |
Member #3 | $22,423 | $13,053 | $9,370 | 42% | $15,633 | $6,790 | 30% |
Member #4 | $6,303 | $3,479 | $2,824 | 45% | $4,655 | $1,648 | 26% |
Member #5 | $10,628 | $5,142 | $5,486 | 52% | $6,228 | $4,400 | 41% |
Member #6 | $5,239 | $3,583 | $1,656 | 32% | $4,463 | $776 | 15% |