Zero Processing Fees
Completely eliminate your credit card processing fees and
increase your profits with our Cash Discount Program.
Stop Losing Money to Credit Card Processing Fees!
Our Cash Discount Program offers a way for merchants to eliminate processing fees for accepting credit cards by passing along these fees to the actual card user. In turn, this allows merchants to maintain their profit margin which helps them stay in business along with not forcing them to reduce the quality of their goods and/or services or increase pricing which would penalize their cash-paying customers.
The service fee is usually around 4% which only comes out to $1 on a $25 credit card transaction which is not applied to each transaction paid for by cash or check. Through our built-in software, the fee is assessed directly through your credit card terminal or Point of Sale system, and in most cases, we can reprogram your existing equipment.
The program can be customized where a merchant can choose to share part of the fee (i.e., the merchant and the cardholder each pay 2%) or eliminate their monthly transaction fees by passing along the full amount to the card user. We also have a toggle on/off feature, ensuring merchants never lose a sale by empowering them with the option to waive the customer’s fee providing an excellent overall customer experience. Merchants LOVE it and it’s 100% compliant with Visa/MC, and legal in all 50 states.
What are some of the benefits of using our Cash Discount Program?
- You will keep 100% of the sale increasing your profit margin
- No minimum purchase price
- Your customers have the option to save money by paying with cash
- Cash payments make it easier to prevent fraud
- The transaction total is charged as one amount on the cardholder statement. This reduces questions from card holders and prevents chargebacks for unrecognized transactions
- Easy-to-read statements for merchants
Is it legal to offer a Cash Discount?
According to the Durbin Amendment as part of the Financial Reform Act, the Cash Discount Program is legal in all 50 states per Federal Legislation, which states that businesses are permitted to offer a discount to customers as an incentive for paying with cash. However, they must be in compliance to offer the program.
Compliance Requirements for Merchants that want to use the Cash Discount Program
- To start using Cash Discount Program, it’s required by law for merchants to post clear and conspicuous signage (which we provide) to be displayed at the business entry point and at the point of sale which informs customers by making it clear that all prices posted in the store and/or online are “cash” prices. This signage also advertises that a fee of 4% is applied to any credit card transactions and if they choose to pay with cash or check, no fee will be applied.
- The service fee and/or discounted amount must be present on any generated receipt from the transaction which is accomplished through whatever processing system you’re using.
Won’t my customers be upset by this fee and want to go elsewhere?
Often, the customer won’t even notice; however, you’ll never lose a sale with our toggle on/toggle off featuregiving you the option to waive the customer’s fee. Besides the fact that a 4% fee on an individual transaction generally has a very small impact on your customer but your savings are significant for you, the merchant.
While nobody wants to pay additional fees, more and more consumers are starting to realize just how expensive it’s been for merchants to accept credit cards. Charging a 4% fee on a credit card transaction is a small price for customers to pay for the goods and/or services you provide, especially if they have been frequenting your business regularly because they prefer your goods and services over other similar businesses. If paying that fee allows you to stay in business and lower your overall cost, it’s a win-win situation for everyone.
In fact, surveys have shown that over 90% of respondents stated they wouldn’t think twice about paying that amount (Again, only $1.00 on a $25.00 transaction) for the convenience of using their credit card rather than carrying cash. This is no different from an ATM fee that we’ve all become accustomed to paying and it’s been shown that customers are already becoming acclimated to paying this Cash Discount fee, and like with the ATM fee, it will ultimately be accepted by all.
Plus, if you explain to customers and even put-up signage and/or have explainer cards (which we can provide) conveying the message that the cost of accepting credit cards continues to rise, often on a monthly basis and more customers than ever pay with credit cards. Consequently, the cost of doing business continues to increase and up to this point, you have absorbed all price increases internally but to keep your prices competitive and still be profitable enough to stay in business, along with providing the best service and/or reasonably priced goods, that’s the primary reason you have decided to implement the Cash Discount payment option. Again, surveys have shown that most consumers have indicated they understand and are fine with it.
What if I find out that I don’t like the Cash Discount Program after a few days, weeks, or months?
If for any reason you wish to discontinue the program, we will immediately change you back to traditional pricing and we will still save you money on your credit card fees compared to what your previous processor was charging.
Request a Free Consultation
Contact us and one of our experienced professionals will work with you to determine the right service(s) for your business needs. Just click the "GET STARTED” tab and a representative will contact you, or simply call us at 800-343-5122 between the hours of 8:00 AM and 6:00 PM MST Monday-Friday. Saturdays by appointment only
