Very little bit of money up front you're gonna pay a little bit more

AidaGlass

Senior Member
Persian-Iran
Hello,
Below is a transcription of a video clip on how to pick a restaurant POS system. I typed out what the speaker said. I thought maybe you wouldn't be able to help me without having the whole context. That's why I provided about 7 lines preceding the red part.
I cannot seem to understand what the speaker means by the red part. Would you explain to me what he means by that part? Thanks.

<——-Excess quote removed by moderator (Florentia52)——->And now that you've invested in all this software, you have no choice but to process through their processor. Now in exchange sometimes for potentially higher credit card rates or a non guaranteed card rate, they'll give you very large discounts on the software and the hardware. That's something you have to weight out. if capital is tight for you, you don't have a lot of money to invest right now, then maybe going with with the POS system like that will be better for you. Very little bit of money up front you're gonna pay a little bit more on your credit card processing over the long haul.
 
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  • QuasiTriestino

    Senior Member
    American English
    I think these sentences need to be broken apart:

    "Very little bit of money up front. You're going to pay a little bit more on your credit card processing over the long haul."

    "Up front" means "at the beginning" - so, you're going to give very little money at the beginning. However, they continue to say that if you look at it over a long period of time ("over the long haul"), you'll end up paying a little bit more.
     

    kentix

    Senior Member
    English - U.S.
    POS = point of sale

    To process credit card transactions certain equipment is required. That equipment might cost a large amount of money. If you are a restaurant owner and don't have the money to buy the equipment, you will not be able to accept credit card payments. That probably means your restaurant will be unsuccessful.

    Since the credit card processing company makes money by charging a fee for every transaction there is another option. They will give you a big discount on the equipment if you agree to pay a bigger fee for every transaction. So you can save money at the beginning by not being required to buy a lot of equipment. But you will pay more fees every time you collect money from a customer. Your beginning cost is lower but your long-term cost is higher.
     

    AidaGlass

    Senior Member
    Persian-Iran
    I think these sentences need to be broken apart:

    "Very little bit of money up front. You're going to pay a little bit more on your credit card processing over the long haul."

    "Up front" means "at the beginning" - so, you're going to give very little money at the beginning. However, they continue to say that if you look at it over a long period of time ("over the long haul"), you'll end up paying a little bit more.
    Thanks for your explanation.
    Since the credit card processing company makes money by charging a fee for every transaction there is another option. They will give you a big discount on the equipment if you agree to pay a bigger fee for every transaction. So you can save money at the beginning by not being required to buy a lot of equipment. But you will pay more fees every time you collect money from a customer. Your beginning cost is lower but your long-term cost is higher.
    Thanks for your complete explanation:thumbsup:
     
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