How Does the Cash Discount Program Work
Merchant Payments Cash Discount Program helps businesses build the cost to process cards into their pricing, allowing them to maintain the same profit margin on every sale regardless of payment type. When a customer pays with a card, our technology automatically isolates the processing fee included in the price and applies it to the merchant’s processing cost. Business owners offset their processing fees and never have to worry about an unpredictable monthly statement. The program is fully automated, allowing your point of sale system to handle all the work, so you don’t have to.
Purcase
At the Point-of-purchase signage clearly spells out the process to customers
Cash
If your customer chooses to pay in cash they are rewarded with a discount
Card
If your customer chooses to pay with a credit card they are charged a small fee
Merchant
You, the business owner, get the same amount weather its a cash or card payment
Is Cash Discount Legal
The short answer is yes, cash discount is legal when implemented correctly. Cash discounts in their true form are allowed in all 50 states, however surcharging credit card transactions are prohibited in the states of Connecticut and Massachusetts whereas in the states New York and Maine surcharging requires the merchant to display dual pricing. Additionally, card brand regulations prohibit surcharges on debit cards even if the cards are run as credit.
The Benefits of a Cash Discount Program
- All of your processing fees are gone forever.
You never have to pay a processing fee again. - Your customers don’t have to pay processing fees unless they want to.
If they decide the rewards on their card outweighs the cost of acceptance, they will pay with a card. If they want the cheapest price possible, paying with cash gives them what they want. - It’s easy to switch. You receive the signs for the store as required by law and the terminal is a breeze to setup.
- Tips are excluded from the non-cash adjustment.
If your business accepts tips, there is no additional charge on tip price to the customer or the business owner. - You’ll never need to switch processors again.
When you pay nothing for your merchant services account, it can be the account you use for the life of your business. Imagine being able to tell credit and debit card salespeople that your cash discount merchant account costs you $0 every month. You’ll never have to argue with another credit card salesperson again.
- Free Terminals are available.
Based on your monthly processing volume, free terminals are available for your business designed to work with the true cash discount program. - Free Point of Sale Payment systems are available.
Based on your monthly processing volume and business type, we have free point of sale systems for your business that work with the cash discount program. - No hidden fees.
You won’t find any surprising line items on your statement that hide fees you shouldn’t be paying. Your statement will read $0 at the end of every month while you accept every type of major card brand as payment for your business. - Cash purchases are fantastic for fraud prevention.
As most people carry cash, paying by cash means that you can test any bills right at the point of sale for fraud, and be certain that you're getting paid for each and every transaction. By maintaining PCI compliance rules, you'll be safe from fraud.
Program Pricing
Small Business
$ 29 .00
/ month- Merchants processing less than $10,000/month.
Mid Size Business
$ 49 .00
/ month- Merchants processing $10,000 - $50,000/month.
Large Business
$ 99 .00
/ month- Merchants processing more than $50,000/month
A method by which your credit card paying customers pay the processing fees, while giving a discount customers who pay with cash.
Simple and transparent. Merchant Payments Cash Discount program is offered on a low month-to-month subscription that allows you to process unlimited credit card transactions and offset up to 100% of processing fees. Your monthly subscription price is locked in, meaning your processing bill will never go up, even if your transaction volume does or your business grows.
Not at all! Merchant Payments Cash Discount program integrates with almost every technology. We also have multiple POS and terminal options for you to purchase or lease.
If you are tired of loosing money on every sale, unpredictable processing bills every month, want to completely eliminate your processing fees, and need superior customer support then Merchant Payments cash discount option is ideal for your business.