Small Business Edition
How MoneyBar Works For Franchise Organizations
MoneyBar™ provides a unique solution for Franchise organizations that delivers a flexible customer payment alternative honored at all locations and a powerful back office technology that manages prepaid revenues and customer redemptions between Franchisees and the Franchisor.
- Franchisor pays a one-time setup-up and creates its own branded prepaid cards.
- Franchisee receives the franchise-branded prepaid cards and a MoneyBarTM POS terminal, capable of Interac debit and credit card processing
- Franchisee sells branded prepaid cards to his customers – denominations can be set by the Franchisor or cards can be sold for any value
- Franchise cards are sold and honored by all Franchisees in an otherwise business-as-usual manner. Customers may re-charge their prepaid accounts at any Franchisee location (a Franchise organization may also establish a web page to conduct online card re-charges)
- Every month MoneyBar™ reconciles prepaid revenues and redemptions between each Franchisee and the Franchisor, and executes electronic settlement payments between the parties reconciles prepaid revenues and redemptions between each Franchisee and the Franchisor, and executes electronic settlement payments between the parties
- The Franchisor remains custodian of all prepaid funds and disburses funds to Franchisees as customers redeem their prepaid cards
- The Franchisor maintains instant access to all card activation, revenue and redemption activity through MoneyBar™’s online reports
- The MoneyBar™ service is paid for on a monthly basis
MoneyBar™ is specifically designed to solve many of the present day challenges that franchise organizations face when looking to roll out a prepaid, gift card or loyalty strategy.
Consistent with the Franchise Model
The strength of franchising is the consistency of the system. MoneyBar™ allows the Franchisor to implement a system that will be consistent through all locations. The system is managed and controlled by the Franchisor so that consistency and system integrity is maintained.
Easy Reconciliation
MoneyBar™ manages all transactions throughout the Franchise organization by 1) compiling the data into easy to read online Crystal Reports and 2) seamlessly executing commands to reconcile the settlement of cash disbursements between Franchisees and the Franchisor. This is extremely beneficial to franchise systems because it allows the Franchisor and its Franchisees to receive funds for the services rendered without complicated reconciliation payments and their associated waiting periods.
Real Time Data
MoneyBar™ operates as a closed system for each Franchise organization and in real time. Each use of every Franchise card is immediately processed in MoneyBar™, eliminating the threat of multiple charges at multiple locations or other potential card abuses. The user can only spend what MoneyBar™ will allow in real time, while prepaid funds move only between Franchisees and the Franchisor.
Low Startup Cost for High Impact
The MoneyBar™ solution allows Franchises to implement their own card program at a low startup cost. Importantly MoneyBar™ also provides powerful marketing tools and strategies to help promote and sell Merchants’ cards, assisting the Franchisor to realize a speedy ROI.
