We discovered a discrepancy in the merchant fee charged by a Point of Sale (POS) system for one of our restaurant clients. The fee being charged was above 4% of the total revenue, which was the highest we had ever encountered in our career of serving restaurant clients. We promptly contacted our client and requested a copy of the service agreement signed with the POS provider.
Upon careful review of the agreement, we identified a clause that entitled our client to a discounted service fee of 2.5%, which had never been applied since the beginning of their service. Our client had been charged at an average rate of 4.5% since the beginning of their service. We immediately informed our client of this fact and reached out to the service provider. After discussing the matter with them, they acknowledged their mistake and refunded approximately $12,000 to our client with retrospective effect. Additionally, our client was able to save $1,500 in monthly recurring fees.
This was a proud moment for our team as we were able to exceed expectations and bring a positive impact to our client’s cash flow.