Cash Discount Credit Card Processing
Cash Discount Credit Card Processing: What You Need to Consider
At Swiped Zero, our industry expertise puts us in a perfect position to help you implement a complaint, fee-reducing cash discount program. But first, here are some things you should consider before integrating.
Why Your Cash Discount Program Must Sync with Your Credit Card Processing
To offer a cash discount program that is legal in all 50 states, you need to partner with a suitable credit card processor. Ensure that it’s equipped to integrate a cash discount program into your current system. So, when it comes to recouping the 2-4% of all transaction revenue lost to processing fees, you can’t rely on just anyone. It’s crucial that you have the best partners for the job to keep you in compliance.
Determining if You’re in Compliance
As a merchant, you’re already aware that you must follow the rules and regulations while operating your business. Just like anything else, you must comply with legal standards if you’re going to administer a cash discount program.
For example, it isn’t legal to profit from credit card processing fees. To guarantee that you’re legally implementing cash discount credit card processing, you must ensure that you’re only recovering lost revenue and not over-charging the customer. Also, you need to display signage in locations that clearly state that the customer receives a discount by paying with cash. It’s always best to partner with someone who knows cash discount and credit card processing—and how to make them work for you.
How Cash Discount’s Can Benefits You:
It’s time to rid yourself of those troublesome credit card fees by letting the experts at Swiped Zero help you. With over 50 years of combined experience, we know what it takes to create a successful cash discount program, and soon, you’ll know too! We’ve built a strategy to help you collect your sales revenue entirely when you use a cash discount fee to customers paying with checks, credit, or debit cards. Our program also includes:
- Keep 100% of Your Revenue
- Provide Incentives for Cash Payment
- Disclosure Signage Included
- Availability for Next Day Funding