How to Eliminate Credit Card Processing Fees with a Cash Discount Program
In this day and age, it’s practically impossible for businesses not to accept credit cards. Consumers want various payment options, and using their credit cards is a quick and convenient choice. However, many business owners take credit card processing fees as a given, not thinking twice about the consequences. See, absorbing the cost of those fees can significantly impact your business’s bottom line. But, what if we told you there’s a world where you don’t have to pay those additional fees? Well, the good news is that you can live a life free from payment processing fees! Our blog will show you how to eliminate credit card processing fees with a simple cash discount program. Soon, you’ll have more income at your disposal while maintaining customer satisfaction and keeping payment options flexible.
What is a Cash Discount Program?
As we briefly mentioned earlier, the best avenue for many business owners to gain track and adapt to customer demand is by accepting credit cards. Even so, paying card processing fees each month cuts away from those profits you work so hard to achieve. It may not seem like a huge inconvenience initially. Still, over time, those costs begin to add up, which could potentially put your business in a pinch if you’re not paying attention carefully.
So, you might be wondering to yourself now: what is a cash discount program, and how does it eliminate credit card processing fees? A cash discount program is a type of credit card processing that allows a business to offer a deduction of their services or goods to customers by motivating them to pay with cash. It’s a win-win scenario: both you and your customers avoid additional processing fees by simply offering a cash discount. Also, if buyers choose to pay with their credit cards, you can pass on the cost of acceptance to them, which still helps you avoid paying extra fees.
The Cash Discount Program Process
Now that you understand what a cash discount is, you’re probably curious how the process works. A cash discount program is pretty simple: customers shop at your store like they usually do, and they see the cash discount signage at the checkout. They’re now aware of the opportunity and decide they would like to pay with cash.
Next, our cash discount compliant software automatically calculates the service fee and the discount amount. Since the customer is paying with cash, the price is then removed before the transaction is finished. Finally, the collected service fee goes toward your processing fee while your sales go straight to you. See? It’s easy to learn how to eliminate credit card processing fees with a cash discount program.
Is a Cash Discount the Right Fit for Me?
One of the best things about cash discounts is that they’re a perfect fit for many businesses. And at Swiped Zero, we are here to help your business increase its revenue by passing on these card processing fees to your customers who decide to pay with credit cards.
In turn, you’ll notice a decrease in your monthly credit card processing statement, and you’ll put more proceeds back into your business. Now that you know how to eliminate credit card processing fees, you can take steps to implement a cash discount program into your business and start saving money.
Ready to Get Started?
Are you ready to learn more about how to eliminate credit card processing fees with a cash discount program? Get started with Swiped Zero today by requesting a free quote!