cash discount Processing
cash discount Processing
the "save 90% program"
the "save 90% program"
If you include the cost of taking credit and debit cards into the pricing of your products or services, cash customers are in fact helping to offset the cost of other customers using payment cards. However, with cash discount processing, you can begin to reward cash customers, and furthermore, because of the savings incentive, you will likely see an increase in cash paying customers.
Credit card companies have held merchants hostage for years; however, the rules have changed.
Now you can pass credit card fees on to credit using customers and recoup 90% or more of Visa, MasterCard, and Discover merchant processing fees.
Your business will dramatically reduce operating costs, allowing you to increase your profit margin. The “Save 90%” program allows you an out-of-the-box solution, with minimal training and setup.
“Gas stations in many states have been offering discounts to cash customers for years, but most merchants felt hamstrung by consumer protection laws and card brand rules that discouraged the practice.
That all changed in Congress with the Durbin Amendment to the Dodd-Frank Act, which in addition to requiring the capping of debit interchange, it also gave merchants the go-ahead to offer discounts or other incentives to customers using certain payment methods (like cash or check).” – Patti Murphy, The Green Sheet, September 2018
Overhead cost for running a small businesses looks like this... Rent is at the top, typically followed by the monthly merchant fees from traditional card payment processing. Cash discount processing saving small businesses anywhere between hundreds or thousands of dollars every month. YES... this is a real thing.
Give us a call, or simply fill out the contact form here and we’ll be in touch to explain EVERYTHING!
bay state merchant services
“We love our merchants, and we thank them for not only trusting us to handle their payment processing, but for their entrepreneurial spirit, work-ethic, and the boost that they give to their local economies.
We believe that helping to promote their business is just another way that we at Bay State Merchant Services can express our gratitude for all that they do for the community.”
Cash discount testimonials
Q. How does cash-discount work?
A. A customer presents a credit card to make a purchase. When a credit card is swiped, our terminals (1) automatically applies the non-discounted fee to your discounted cash pricing; (2) prints a receipt showing the discounted cash price with the non discounted fee added; (3) we then deposit the entire full cash price (100%) into your account as though it was a cash transaction, and the non discounted fee is retained.
Q. How will customers react?
A. Your customers will be encouraged to pay CASH to receive the DISCOUNTED price. They understand that credit and debit cards are more expensive to accept than cash and are used to paying more if they pay their taxes, utilities or tuition with a credit or debit card. When faced with a discount, many consumers will switch to paying with cash. Others will stick with their credit or debit cards and pay the regular price.
© 2019-2020 Bay State Merchant Services
800.929.9973
info@baystatemerchantservices.com
P.O. Box 76 East Dennis, MA 02641
