What is Cash Discount Payment Processing and How Does it Work?
Cash discount payment processing is a new way for merchants to process payments and attract customers. It allows merchants to offer a cash discount on their products or services in exchange for customers paying with cash instead of credit or debit cards. This can help merchants save money on transaction fees and increase customer loyalty. Cash discounting solutions are becoming increasingly popular with merchant service providers as they provide an easy way for businesses to offer discounts without having to worry about additional costs. In this article, we will discuss how cash discount payment processing works, the benefits it offers, and the different types of solutions available.
Advantages of Cash Discount Solution Over Traditional Payment Solutions?
Credit card processing is an essential part of running a business, but it can be expensive. Traditional credit card processing fees can add up quickly and leave businesses with a hefty bill. Cash discounting allows businesses to enjoy unlimited credit card processing without incurring any additional costs, just a flat monthly fee. Depending on the size of the transaction, a non-cash price adjustment is passed through to your customer on all card transactions. The amount collected is used to cover processing and interchange cost allowing you to save nearly all the money you're currently paying in fees. Of course, if you prefer standard credit card processing, you can do that too. Generally, businesses have to pay between 1.5% and 3.5% for traditional credit card processing services.
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