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It’s not hard to understand why, since most business owners are losing anywhere between 2-4% in credit card processing fees with every transaction. Which translates to approximately $20,000 to $40,000 per every $1 million in gross transactions processing. What could you do with that extra income?
What is Dual Pricing Cash Discount?
For merchants, dual pricing is applied as a cash discount — a price reduction offered to customers paying with cash. Dual pricing and cash discounts are also sometimes referred to as zero-cost processing. The discounted amount would be subtracted from the total, reducing the amount that the customer owes, if they pay with Cash and the cost of using a Card is incorporated into the sale of the product, if the customer uses their Credit or Signature Debit Card.
Drastically Reduce Merchant Processing Fees by 98%
One of the most apparent benefits for merchants that adopt a cash discount program is reduced or eliminated card-processing fees. With Dual Pricing-Cash Discount, fees are nearly eliminated.
Cash Payments Incentives
Cash discounts will make customers feel like they're being rewarded for cash payments; while offering the benefit of accepting a Credit Card, as an option, for convivence, where you won’t have to pay the merchant service costs associated with accepting card payments.
Happy Customers
Everyone loves a discount. And for many customers, receiving a discount just for paying cash seems like being rewarded for nothing. While some business owners worry that cash incentives may discourage their customers, people are used to seeing cash discounting at car dealerships, gas stations, and more. A cash discount program allows customers to save money and pay through their preferred method.
Simplify statements
Fewer card payments result in more straightforward monthly statements for your business. Since the cash discount program is fully implemented into your existing merchant services, there's no drastic change to your system.
Gas stations have used cash discounts on the price of gas for many years. If you pay with cash, it costs a little less per gallon. If you pay with a credit card or gift cards, the cost is as listed on the sign and on the pump.
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How does cash discount work?
Cash discounting works by giving a discount to all customers who choose to pay with cash instead of a credit card or debit card. Customers who choose to pay with a credit card will pay the marked amount because the processing cost is built into the cost of the product. This allows the business owner to get the full payment from the customer and not incur any credit card processing fees.
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Providing Merchant Services To:
Online - Doctor Consultations - Online - Pharmacies - Online Consultation and Prescription Medications- Delivered to your Door) - Internet - Health Supplements and Vitamins Shops - Retail Doctor's Offices - Hospitals - Dentists -Health Insurance Agencies - Health Food Stores - Meal Prep and Delivery Companies - Gyms - Diet and Nutritionists - Fitness Trainers - Medical Devices and Equipment Businesses - Addiction Treatment Centers - Tele-Med Software Companies
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- 501(c)(3) Payment Experts
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Looking for a Donation Management Portal (DMP)? We have that too! Instantly Launch Donation Campaigns and Manage Them All Via Our Own DMP! Stay Connected to Your Donors via SMS, Email and your Website. Detailed Reporting System and Donor Analytics!
Are you a Non-Profit Church or Organization?
Accept Donations 24/7 - Reach more people and monetarily impact your Non-Profit in a positive way by carrying your message out to those who want to help, with Electronic Dual Pricing/Cash Discount Platform.
Go the Dual Pricing/ Cash Discount Route
With Dual Pricing, your Non-Profit gets to keep 99% of the Donation. This means that merchant service fees and expenses have little to no impact on your Non-profit.
Stay Connected
Connect to people who follow your Non-Profit and post updates and videos online about Events and Messages. Reach more people who want to help your Non-Profit.
Donation Management Portal
Your Own Personal Donation Management Portal (DMP) helps you to engage and communicate dynamically with your Donor Base and Community. Increased Donor Satisfaction Levels and Increase value to Your Customers and Their Businesses.
- Create & Launch campaigns and offers to your list of customers and prospects.
- Tag, Group and Categorize your list for better targeting, conversion and communication.
- Create Key Word Campaigns and Autoresponders to ensure followup and consistent communication.
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Securing a high-risk merchant account might typically involve a slightly extended underwriting process, especially in heavily regulated industries. However, you can rest assured that our team is dedicated to expediting your approval.
With 1Merchant.com, our approval process usually takes only 24 to 48 hours, which is notably faster than the majority of other high-risk merchant account providers. Our top priority is ensuring that your merchant account is operational as swiftly as possible.
- High Risk Payment Gateway and Merchant Accounts
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Once you submit a complete application , the turn around time is usually 24 - 48 hours or less. Upon Approval we will ship your terminal equipment or software promptly.
A fee paid by an acquirer to an issuer for transactions entered into interchange. The interchange fee is a percentage applied, according to Visa/MasterCard regulations, to the dollar value of each transaction. There are multiple categories of interchange, and Visa and MasterCard each have their own criteria for their own categories. A transaction must meet the specified criteria for a category in order for that category's rate to be applied. Each transaction is evaluated individually, so various interchange rates may apply within one batch of merchant transactions.
The discount rate is the fee that a merchant pays to the acquirer for processing services that enable the merchant to accept bankcards as payment.
A cash discount program is a type of credit card processing that passes the cost of credit card acceptance back to customers who choose to pay with a credit card or debit card.
Cash discount merchant services programs allow business owners to continue to accept ALL major credit cards without the loss of 3-4% in processing fees.
Yes! It is legal to pass credit card fees to customers. It is legal and compliant to pass fees on using surcharge fees and cash discount programs. Surcharge fees are legal in 40 states while cash discount programs are legal in all 50 states.
The legality of passing fees to customers is covered in and by the Durbin Amendment which is part of the Dodd-Frank Law 'financial reform act.'