The new system is able to recognise the nationality of the shopper from the credit card and apply the appropriate rules accordingly. It automatically calculates the VAT, the refund due, and the administration fee, and details the SKU/product information on the Tax Refund form. Additionally, the form can be printed with the Retailer’s logo, so boosting brand awareness. Cash purchases can also be processed tax free for eligible customers.
Details of all transactions are available for comprehensive reporting allowing the Retailer to see tax free sales revenue and nationality of shopper by store, month and year. They can analyse the sales data for example by number of transactions, average amount per transaction, highest purchase amount, and many other criteria. Reports can be generated automatically and circulated to appropriate staff electronically.
Raoul Defant, Group Marketing Manager at Tax Free Worldwide said; “Tax Free Worldwide helps retailers simplify and enhance their business by implementing an easy to use refund system that reduces paperwork and speeds up processes.
“This results in more transactions, less effort and greater income through dealing with eligible customers. We are delighted to be working with Eurostop to provide these benefits to their customers.”
Phillip Moylan, Sales & Marketing Manager at Eurostop commented; “Eurostop is dedicated to making our customers lives easier, but providing as much automation within our system as possible. Providing tax free shopping to overseas visitors is a great way for retailers to boost their sales within a particularly lucrative market.”
About Tax Free Worldwide
Tax Free Worldwide is an international financial services company specialising in value added tax (VAT) refund services for shoppers and retailers. Tax Free Worldwide is the third-largest company in the world in this sector, and is the market’s fastest growing. With innovative technology it offers the most advanced services on the market today at competitive rates.
Founded in 1990, with operations in London, Singapore and Shanghai, Eurostop provides complete solutions for Retail Management for the Fashion, Footwear and General Merchandise sectors encompassing both hardware and software.
| On 16th Apr 2021
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