The off campus program of Washington University, St. Louis, has had little effect on sales, according to the school’s student newspaper. Called Bear Bucks, the program is used off campus at local eateries and, most recently, a yogurt shop. One business owner said that he has not seen an increase in sales since accepting Bear Bucks last November.
Joe Edwards, from local restaurant and music club Blueberry Hill, however, thinks that accepting the card helps maintain good relations with the school and its students. This is despite the fact he has to pay a 7% processing fee versus 2.5% to 4% for credit cards. “I’m willing to pay the extra processing fee for giving students more convenience,” he said.
Chill Frozen Yogurt has also seen little benefit from Bear Bucks in terms of customers or sales, manager Ryan Kerlick said. “There are more students coming in groups, but there has been no change in net profit,” he said.
One restaurant, however, has seen an increase in sales since accepting Bear Bucks. “It fluctuates, but we have between $200 and $500 in sales every day from Bear Bucks. It’s about 10% to 15% of our sales,” said Bobo Noodle House general manager Paul Goodloe. “We do lose a good chunk of change to the processing fee. Ideally, it would be best if everyone paid in cash or credit card in terms of profit.”
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