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Cash Discount Program How cash discount programs works

Cash discount program is becoming aware very popular as a way to offset your merchant service fees. This program is a method of implementing a service fee to all customers who pay with a card, while providing a discount to those who pay with cash.

Cash Discount programs are legal in all 50 states per the Durbin Amendment (part of the 2010 Dodd-Frank Law), which states that businesses are permitted to offer a discount to customers as an incentive for paying with cash. While this type of program has been used by gas stations for years now (displaying cash prices), there is still confusion on how to implement a Cash Discount program the right way.  But in reality this program is very easy to implement and more and more business owners are deciding to go with this processing method to avoid sharing their hard earned money with the big credit card companies. Want to learn more? Let us help you.

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Processing The New Way

Businesses using the new way of credit card processing prices their goods at the price customers would pay using a credit card. In a day and age where everyone wants things cheap and instantly, like same-day funding, it’s no surprise that cash discount programs are on the rise.

Cash Discount Offer

When your customer is ready to pay, they notice the signage near your register which informs them that all prices are credit card prices. If they choose to pay with cash, they will get a discount.

How Mush Is The Discount?

At this point, the customer can choose to pay the listed price using their credit card, or pay the discounted price with cash. The amount of the discount is 3.5 percent for most businesses.

Who Gets Better Deal?

Both Wins. If the customer chooses to pay with cash, they pay less than what they were expecting; if they choose to pay with credit card, they pay the amount they intended to pay in the first place while utilizing the convenience of credit cards.

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