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.
$35/mo
Flat Fee - Unlimited Transactions
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.