Introduction

Small businesses and startups can rejoice! There is now a new way to eliminate the fees associated with credit card processing. What is this new method? It's called Cash Discount and it completely removes those processing fees you pay each month.

What is a cash discount merchant account and how does it work?

Cash discount merchant accounts allow businesses to accept credit cards without paying any processing fees. This means that the business gets to keep all of the money that is charged to the customer's credit card. This can be a huge saving for small businesses, especially since most credit card processors charge around 3% to 4% on each transaction.

Cash discount merchant accounts work by giving the customer a discount if they pay with cash instead of a credit card. For example, if the credit card processing fees for a transaction are 3%, cash discount merchant accounts allow businesses to keep that 3% and use it as a discount toward their cash purchases. So, instead of paying $100 with a credit card, customers can pay $97 in cash.

Why should I consider a cash discount merchant account?

There are two main reasons why businesses should consider a cash discount merchant account. These benefits are:

1. No credit card processing fees: As mentioned earlier, cash discount merchant accounts allow businesses to accept credit cards without paying any processing fees. This can be a huge saving for small businesses, especially since most credit card processors charge around 3% to 4% on each transaction.

2. Increased profits: By giving customers a discount for paying with cash, businesses can increase their profits. For example, if the credit card processing fees for a transaction are 3%, cash discount merchant accounts allow businesses to keep that 3% and use it as a discount toward their cash purchases. So, instead of paying $100 with a credit

How to get a cash discount merchant account

Cash discount merchant accounts are a great way for businesses to accept credit cards without paying any processing fees. There are a few different ways to get a cash discount merchant account, but the easiest way is to sign up with a company that specializes in these types of accounts.

Alt-Pay offers cash discount merchant accounts to businesses of all sizes, and there are no set-up fees or contracts. In addition, we offer free equipment, 24/7 customer support, and a host of other features and benefits.

If you're looking for a hassle-free way to accept credit cards without paying any processing fees let's talk. You can schedule a call with us here.

Things to consider before signing up for a cash discount merchant account

When deciding whether or not a cash discount merchant account is right for your business, there are a few things you should consider. These include:

1. The amount of credit card transactions you process each month: If you process a lot of credit card transactions each month the reward for switching to a cash discount processing model will be significant.

2. The type of business you own: Some businesses are better suited for cash discount merchant accounts than others. For example, businesses that drive most of their sales through an eCommerce channel may not be able to use this type of program. Some eCommerce platforms don't integrate with shopping carts that allow for Cash discounts.

3. Your customer base: Your customer base is another important factor to consider when deciding whether or not to sign up for a cash discount merchant account. For example, if your customers are the type that always pay with cash then you may not benefit from signing up for a cash discount merchant account.

If you're interested in learning more about what it takes to get a cash discount merchant account you can learn more here or sign up for our free consultation here.

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