C;5SH DISCOUNT PROGRAM In a world of sameness, we're giving you o - - PowerPoint PPT Presentation
C;5SH DISCOUNT PROGRAM In a world of sameness, we're giving you o tions. Cash Discount Program The Cash Discount Program was created to offer merchants an alternative to standard credit card processing. Allows the merchant to share or pass
credit card processing.
customer service fee – reducing credit card fees by 50-90%
payments.
service fee is assessed on all customer transactions.
applied to each sale made on a merchant’s terminal.
eliminated if the customer pays with cash or in-store gift card.
The software automatically determines the service fee and discount amounts.
CASH CARD
collected goes toward that month’s credit card processing fees.
A "surcharge" occurs when a merchant increases the price for credit card purchases. 40 States in the US allow surcharge fees to customers who pay with credit card. – Surcharges can not be assessed on debit cards. They are added simply for the privilege of using a credit card. A “ cash discount" occurs when a merchant decreases the price for cash purchases. Cash discount programs do not discriminate one card over another. Cash Discounts reward customers for paying by a particular means and/or for not using a particular means of payment. In Summary: A "surcharge" occurs when a merchant increases the price for credit card
goods and services for cash payment / purchases.
The Durbin Amendment within the Dodd-Frank Financial Reform Act “EFTA Sections 920(b)(2) and (3) impose certain limits on the ability of payment card networks to restrict merchants and other persons in establishing the terms and conditions under which they may accept payment cards. Specifically, EFTA Section 920(b)(2) prohibits a payment card network from establishing rules that prevent merchants from offering discounts or in-kind incentives based on the method of payment tendered to the extent that such discounts or incentives do not differentiate on the basis of the issuer or payment card network”.
12 CFR Part 235 Debit Card Interchange Fees and Routing; Final Rule
Caveats: (i) “a discount for use of debit or credit cards does not discriminate on the basis of the issuer or network and (ii) (ii) any discount insofar as required by other applicable law is offered to all customers and is conspicuously disclosed and prohibits networks for penalizing retailers for providing discounts that are permitted by federal and state law”
Personal Services Hotels ATMs Hair Salons Nail Salons Dry Cleaners Spa/Massage Auto Repair Shops Pet Grooming Daycare Centers Consumer Goods Gas Stations Local Grocers Specialty Boutiques Antique Stores Retail Clothing Stores Variety Stores News Stands Dollar Markets Smoke Shops Restaurant Industry Diners Quick Serve Takeout/Delivery Services Food Trucks Bakeries Coffee shops Ice Cream Shops Hot Dog Stands Government Utility Companies Cell Phone Providers Municipalities Schools Universities Courts IRS Comcast Dish Network Consumer’s Energy Dish Network Verizon Sprint AT&T T-Mobile
Cash Discount Programs require complete transparency to the customer. Clearly published pricing must be displayed
provide all signage to merchants.
Thesoftware provides customer receipts clearly outlining:
Base cost Cash discount Total sale
Merchant statements are simple and easy to read.
It is recommended to offer the customer the cash discount verbally when they are at the register.
you are offering to save them money.
Would you like to save $.60 by paying in cash, or use your card?
Look at the numbers:
Merchant: Alice Burger, Palmdale, CA Average ticket: $21 PayLo Service Fee: $.79/ transaction Standard Processing : April – August 2016 PayLo Processing: September2016 – January 2017
Card sales volume INCREASED +$2,904.93 /month on average Card processing costs DECREASED
Merchant SAVED a total of $6,278.76 = $18,836.33 in savings a year!
Customers don’t really mind the service fee. I ask if they want to save by paying in cash, but they want to do a card payment, every time.
But will it work for you? Find out for yourself.
We send you everything you need to set up your system.
support team walk you through setup at no charge.
your own system as backup.
savings and if you are not 100% satisfied, return the equipment at no cost to you. Pay only our $99 technology licensing fee.
cards run under the system. Word is spreading. Thousands of merchants across the US and Canada are daring to be different and saving money with the Cash Discount program.