The Cash Discount 1.0 Program is a way for your business to eliminate the fees you pay to take credit cards without increasing your prices. We provide a way to add a service fee to all the products you sell, while giving your cash paying customers a discount from that service fee. Therefore, the prices you have posted are now your cash prices. We are not asking you to give discounts or refunds. We're just implementing a process to eliminate fees.
There is more to it than just adding a service fee. Since we have offered this to our customers we have adjusted it to work for you in more than just eliminating fees from cards. Every business owner has seen a person pull out their wallet loaded with cash and they still pull out that rewards card. We will give you a way to get that person to pay you cash versus the card. If they do pay with a card still, it doesn't matter, you're not paying the fees!
We care about your business and your customers too. Since we launched this program we have listened to our customers and their concerns. We realize that people are scared of new things and unhappy customers. We provide not only free signage but free training on how to present this program so that it will work for your business. If implemented correctly, you will never pay to take a card again.
Do it right. There are many regulations in taking credit cards. We have done our research and have set up thousands of accounts with this program. We know what we are doing and we can make sure that you are in compliance with all local, federal and brand regulations.
So how much does it cost to be part of this? While every business isn't the same, we have very simple pricing. In most cases the only cost is $25 per month. If you need wireless equipment or point of sales then the monthly cost will go up from there. We are 100% transparent on our pricing so you will know what your monthly cost is before you even sign up. The most we would ever charge is $100 per month and that would take a lot to get there.
With the passing of the Durbin Amendment in October of 2011 merchants could now offer an incentive to customers paying with other forms of payment versus cards.
Although the Cash Discount Program is becoming the hottest thing out there it wasn't until 2016 when it started to be promoted by processors
As of early 2018 almost everyone had some form of this program available. Today business owners are eating it up and saving millions in fees. Your turn!