Why Is your Business STILL paying Credit/Debit Card Transaction Fees?
If you run or own a business you already know that credit card processing can come with lots of fees and is becoming increasingly expensive for merchants. This is especially a challenge for small businesses with smaller budgets.
Swipe fees, can become a financial burden on small businesses when they decide to accept credit cards at their establishment. This is where the Cash Discount Program, or also called the Flat Fee Program, comes in.
| Zero Your Credit Card Processing Fees
By offering a discount for customers who pay with cash, your business is able to eliminate 100% of processing fees. Merchants are required to display/provide a customer-pricing notice that will inform customers that products or services paid by Cash will lower the cost of the purchase. A Win-Win for everyone! The business does not lower its overall prices, just notes that current pricing is based on Cash, and if paid by Card, a discount will not be reflected in the final cost. You may be asking yourself, “Would it not be easier to just settle with increasing all the prices and call it a day?” That’s a fair question, and honestly, the result may or may not be the same in the end. The Cash Discount or Flat Rate program can also be a great marketing tool, which can potentially attract new customers. Customers are all drawn to the word “Sale” or “Discount.” However, the transparency that comes along with the cash discount program will be a detail that is not lost on your customers. We all generally respond favorably to the option of saving, and paying with cash can accomplish that… give the people what they want and your business will benefit in return. A Marketing Tool to Get MORE Customers A % discount across the board for cash customers helps you bring in customers, and offsets the credit card processing fees, since customers who use their cards, do not get the ‘cash discount’. You know your customers are earning points and miles and rewards, that actually cost every business a higher rate than cards without points and rewards. That means the your business is funding their trips and helping them get cash back from their bank or card issuer. Check out our happy customers using this program, just a few of the several thousand around the country increasing their profits! Our Successful Clients Say…….. Loving this new machine by the way… all the customers understand no problem. Some have left to go get cash and they come right back… pretty cool. Should have done this ages ago! I’m saving over $4,000 a year now. – Aaron, Furniture Store I like the cash discount program because it gives my customers an option to save some money, and I like it because it saves me money on the fees, over $250 bucks last month. Thanks, – Tracey, Kennel and Groomer Both our Liquor store and Convenience store are saving hundreds of dollars each month on card processing fees. We were paying over $800 a month and now less than $100. Thank you for helping us out! – Niyati, Liquor store and Convenience Store My kids are almost the age for college, and now I have almost $2,000 each month to apply toward their education, books, tuition, etc… This Cash Discount program will save me almost $25,000 this year alone and my customers don’t mind at all… and once college is done, I have a retirement plan to fund with this savings. – Frank, Grocery Market We didn’t accept credit cards due to the cost, but now we do and it costs us nothing. Our customer love the fact that they can pay by card vs. cash only. Our business has actually seen an increase in sales with no negative costs. – David, Dry Cleaner Team sports photography can be fast paced and hectic. Taking credit and debit cards is a ‘must’ but the cost was tough on me. Now the customers pay the fees and my profit is up by $300-$400 a month. They are getting the points and miles and rewards, so now I can afford to take a trip too! – Jeff, Photographer Is it legal? Yes, all 50 State’s Attorneys General have approved Cash Discount Programs, as well as State Offices of Consumer Affairs, and Truth in Lending Regulations provide options such as Cash Discounts. And of course, Visa, MasterCard, Discover, and American Express approve as well. https://usmstexas.com/texas-office-of-consumer-credit-states-cash-discount-program/ *** Main requirement is that the POS system or Credit Card Terminal automatically calculates the Non-Cash Discount Fee, to avoid businesses from profiting from this program.*** Ask us today for the Cash Discount/Flat Rate Program Overview so you can see how to start savings thousands of dollars this year! Please call us at 512-535-2255 or book a time on my calendar below. Want to set up time to talk? |