Cash Discount Program FAQ
Cash Discount Program
A cash discount program is a way for you, the merchant, to offset your merchant service fees without increasing your overall rates. It is a method of passing a financial service fee to all customers while giving a discount to those who pay cash.
Just about any business that accepts credit cards can benefit from a professional financial service. Auto repair shops and daycare centers to retail establishments and professionals like doctors, lawyers, dentists, and accountants, Our merchant services can put more money in your pocket every month — a lot of it!
This is the fun part. We’ll send you everything you need in one financial service package. You’ll receive a payment terminal and signage for your front door and terminal area explaining the discount for cash-paying customers. You’ll also receive free training from our merchant services professionals, as will your sales staff. You’ll also receive a special welcoming gift!
We have a 100% satisfaction guarantee. If for any reason, you want to stop using our cash discount program, we will immediately change you back to standard interchange pricing. We got you covered! Your satisfaction with our financial service and merchant services is our goal.
A recent study states that 93% of consumers wouldn’t think twice about the service fee 39 cents on a $10 purchase for the convenience of using their credit card rather than carrying cash. Everyone has also fell accustomed to the standard financial service $2-$5 ATM fees. What’s excellent, our merchant services is the 0% processing fee Program is cheaper than those ATM fees. A cash discount program is a way for you, the merchant, to keep your standards and quality up without raising prices. Most of your consumers will understand and be OK with it.
Thousands of merchants are already a cash discount program, and more are signing on every day. Gas stations have been using this program in the US for over 15 years. Besides, many national, state and local governments like the DMV, IRS, Post Offices, Schools, and Courts use the cash discount program. New federal regulations now allow merchants to reclaim their fair share of processing fees. Our merchant services will save your valuable business profits every month—no more worrying about high service fees from credit cards.
Mitchell Katz, spokesman for the Federal Trade Commission, said in May 2011, “The Dodd-Frank law prohibits a payment card network such as Visa from inhibiting the ability to provide a discount for payment by cash, checks, debit cards or credit cards… neither surcharging nor cash discounting is illegal.” As a financial services leader, we provide our clients with the most profitable, safe, secure & convenient forms of payment.
From NBC News.com financial services Visa, MasterCard in $7.3 billion settlement over credit card fees. Plaintiffs attorney Martin Lueck, chairman of the executive board of Robins, Kaplan, said the allowed “surcharge” is a pro-consumer provision of the settlement. “It’s a discount that the merchants are now allowed to offer for the less expensive form of payments,” he said. He also said merchants would, for the first time, be allowed to disclose how much it costs them to accept credit cards. – Genaro C.Armas, Associated Press; Geoff Mulvihill, Associated Press; Mark Scolforo, Associated Press
A cash discount is not a credit or debit card surcharge program, which is not allowed in several states. Our merchant services provide you with a technology that will enable you to offer discounts to its customers who chose to pay using cash or check, which is allowed in all states. We are a leader in the financial service industry.