The National Automatic Merchandising Association (NAMA) Cashless Solution program has delivered significant savings to Gourmet Coffee Service in just seven months.
When asked about the savings, CFO of Gourmet Coffee Service, based in Van Nuys, Calif., and secretary/treasurer of the NAMA board, Pete Tullio, said in a prepared statement, "We have had the NAMA program in place for our office refreshment business for seven months. Our projected annual savings will cover our NAMA dues as well as our California Automatic Vending Council (CAVC) dues, and will also help defray a portion of our OneShowSM travel expenses."
According to Tullio, the savings are realized not only from the lower discount rates, but also from the fees charged by Bank of America Merchant Services (BAMS) compared to his previous service provider.
The NAMA Coffee Service Cashless Solution program is a networked, end-to-end solution that is hardware neutral, works with qualified communication suppliers and card associations for payment reconciliation and account management.
The Cashless Solution program is a partnership between NAMA and BAMS. It offers favorable rates for both wireless communications and processing of cashless transactions, and can be configured as an extension of an installed remote monitoring system or as a stand-alone application. BAMS leveraged its knowledge of card brand rules and regulations to customize the program specifically for NAMA members across various industry segments and was able to negotiate exclusive rates.
"Any NAMA member company that fails to take advantage of the Cashless Solution program is leaving hard-earned money on the table because it provides a substantial financial benefit. I highly recommend it for those that accept credit cards," concluded Tullio.
Gourmet Coffee Service was founded in 1994, as a division of World Wide Vending and now serves about 1,500 full-service clients with offices in Los Angeles and Orange County, Calif.
To compare your current program, understand the details and calculate your savings, visit www.vending.org, click on technology, cashless solutions and use the links on the left. To inquire directly, please contact BAMS at 888-317-0971.