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On Eload business & Cashless Transactions

Woe me, the hazards of an eload or auto load business or for cash transactions for that matter.

I have a small SMART Eload and Globe Auto Load Max business in the village. It doesn’t really yield significant profits since one only gets 14% profit. But hey, 14% of anything is still something. You can’t even get 14% a year in bank time deposits. You can just imagine how much money our telecom giants like GLOBE and SMART make a month.

Having an eload business pays for half the helper’s salaries. With a profit sharing scheme, the helpers are happy. And happy helpers generate better work attitude. It also offers them a chance to socialize in our neighborhood.

Today, when I deposited some of the earnings for my SMART MONEY at the Banco de Oro, the bank teller immediately spotted a fake 100 peso bill.

I took the 100 pesos bill and it obviously felt counterfeit. Although the bill was old, you can feel that it was thin.

The manager took note of the serial number and wrote “COUNTERFEIT” on it.

It’s my fault. I forgot to train the new helper to detect counterfeit peso bills. ( our trusted helper is on vacation) I guess I am so used to [tag]cashless transactions[/tag] since my IT business requires payment through bank deposits, credit card , Western Union or paypal.

Cash transactions are the reality of retail transactions like our sari-sari stores and similar small businesses. What irritates me to no end is when a store sets a minimum purchase transaction when using a credit card. Only in the Philippines does this happen. I know that credit card companies take transaction fees out of their sales. But what happened in the end? Opportunity loss of 300 pesos.

*Edit- I am now using eNegosyo. Just email me so I can refer you to the right person or if you want to register online, just place my name (Noemi L. Dado). or under referral : cellphone number 09287922341

15 thoughts on “On Eload business & Cashless Transactions”

  1. Hi Noemi. First, let me thank you for being part of our enegosyo family and likewise to your very positive blog comments which made us proud. I am Francis Lorica, Head for Operations of Enegosyo (hope u caught me at RPN9’s GoNegosyo program last week) and should you need further assistance, please do hesitate to reach us at 372-0024 to 29 or my mobile at 0918-8020368. Thanks again and GOD Bless!

  2. Pingback: Pinoy Entrepreneurship: Fil-Negosyo Expo 2006 » Touched by an Angel - Parenting, Marriage, Netrepreneur, Lifestyle, Grief Education and Recovery

  3. Greetings!

    I have an e-loading business at home (e-load retailer), yet what i really is to become a e-load dealer.
    Can someone here please provide some information about e-negosyo, where can I reach any of your personnel “in person” here in cebu, and some FAQs please..
    Thank you very much

  4. I already visited the enegosyo website link from ur blog. i can’t find any text regarding sales computation on how the entrepreneur is going to profit from selling loads and cards? Can you provide it or do you know where can I get them? TYVM!

  5. Hi! Hindi lang naman po sa Pilipinas merong minimum amount bago pwedeng icharge sa credit card ang purchase. Some stores (small stores) in Japan also require a minimum purchase of something between 1000-2000 yen (~500-1000 php). And of course, hindi rin lahat ng stores sa Japan tumatanggap ng credit card. Somehow, Filipinos have a notion that the Philippines is soooo backward because of these small stuff.

    Love your country. Afterall, it’s the only country you’ve got.

  6. hello po,i would like start my own business on eloads un lang i dont know where to start,i and preferablly sanay e load dealer,could someone help me.but am still in a process of analysing if its worth,

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