Especially during this tough economic time, businesses are looking for ways to cut costs, without compromising on the level of service they provide their customers. With the help of SwipeSimple, the innovative payment solutions provider, we’re proud to be able to offer your business a cash discount program that will both save you money in credit card processing fees and delight your customers with discounts.
How Does a Cash Discount Work?
When a customer has finished selecting the items they’d like to purchase and they’re ready to checkout, you will ring their items up like normal. Once your payment terminal calculates the total cost, it will prompt your customer to choose whether they’d like to pay using a credit card or cash. If they select “cash,” the cash discount program will automatically calculate a percentage discount based on the overall transaction amount. When setting up the program, your business will get to decide what percent discount you will offer your valued customers for opting to pay with cash. When you print out their receipt, it will clearly note the discount they received by choosing this payment method.
So, what happens when a customer selects “credit”? Your cash discount program will automatically add on a percent addition to the total amount due for the transaction. Again, your business will decide what percent will be used to calculate this addition to their bill. Simply put, a cash discount program allows you to pass the cost of processing a credit card payment along to your customer. By offering them the option to pay cash and receive a discount, this allows you to charge them a small amount if they choose to pay using a credit card. The small charge will be automatically listed on your customer’s receipt.
The Perks of Offering a Cash Discount
Now that we’ve discussed how cash discount programs operate, it’s time to detail the incredible benefits you and your customers will receive by implementing one. First, your business will achieve sizeable savings in credit card processing fees. By offering a cash discount, you will eliminate any of the fees associated with processing a payment transaction which over time, will help your business tremendously. As your customers become aware of the program and the savings they’ll receive, you’ll find that your payment processing costs drop significantly. Another thing we think you’ll love about this program is that it is available to merchants, free of charge!
In addition to helping you save on credit card processing fees, our cash discount program will help your customers save money during one of the toughest economic downturns of our lifetimes. With countless businesses laying off or furloughing their employees, many consumers are struggling to pay their bills, so saving money is the name of the game right now. While saving a few dollars here and there might not seem like a huge deal for some people, to others, it can mean everything.
Are you interested in offering a cash discount to your customers? Would you like more information about how the program works? Please contact us today and we’ll be happy to assist you!