Business owners pay more in processing fees than they are aware of. When a customer uses a credit card, the business owner gets charged a processing fee. At first, the processing fee might seem like nothing. What happens is the small fee starts to add up over time, and as a result, the business owner is paying way more in processing fees than expected. So how can you change that? One way to avoid processing fees is through cash discount. Here are the benefits of cash discount and why business owners should make the switch.
When consumers purchase something using cash, there are no processing fees. No credit card is used; therefore the processor isn’t involved in the transaction. The idea behind cash discount is to help business owners reduce credit card processing fees drastically. How does switching to cash discount reduce your expenses? Check it out below
A cash discount program motivates your customers to pay with cash to receive a discount. You can use this program as a way to reward your customers and build loyalty. In addition, you are simultaneously decreasing business expenses. Cash discount also benefits your business by creating an increase in the amount of cash used. As a result, your business has faster access to more substantial cash flow. When your customers are not using credit cards to purchase things, you are not spending money on processing fees. These programs also allow you to recoup most of the costs associated with accepting credit cards.
How Do I Save?
At Premier Business Advantage, we offer an excellent cash discounting program. You will receive a compliant and fully transparent system that is easy-to-use and save money with every card transaction. Our technology automatically calculates up to a four percent non-cash charge, which, in turn, covers most of your processing fees. The fee will not be shown on the customer’s receipt. If the customer pays with cash, debit, or gift card, they will get a receipt outlining the total minus the cash discount! Also, we provide all our clients free signage for your front door and point-of-sale you utilize. Our technology works with several wireless terminals and POS systems, in addition to all credit card types and mobile wallets.
If you would like to learn more about cash discounting and how it can benefit your business, contact Premier Business Advantage. At Premier, we are dedicated to the small-to-medium merchant market and promise to work closely with you to find the best solution for your business. For more information on how we can help and the other services we offer, please visit us online here or call us at (636)207-9000 today!