Over my illustrious 50-year career, I have watched the credit card processing game change dramatically. Remember when customers bore no cost for using cards? It’s almost hard to believe now with the emergence of programs like cash discount and the innovative #RoyaltyCashDiscount.
In the past, a merchant bore the cost of credit card processing fees. However, over the years, this model has morphed and shifted, allowing businesses to share processing fees with the customer. Cash discount programs have been a game changer. Now you can say a big NO to processing fees without losing customers or compromising your price points.
So, how exactly does a cash discount work? Profoundly simple. You offer your customers a discount if they pay with cash instead of a credit card. They save money, and you scratch out card processing fees from your list of concerns. However, it doesn’t end there.
The evolution of cash discount programs has given rise to the #RoyaltyCashDiscount. Under this, not only do merchants get rid of the hassle of card processing fees, they could also receive extra income – Royalty Checks – as part of their business payment solutions package. At its core, it’s about transforming your credit card processing system into a profit center.
More and more businesses realize the value of passing the processing fee to the customer. It’s accepted widely, especially in a world where contactless payments are becoming the norm due to pandemic-fueled behavioral changes. However, it’s essential to implement this kind of program with clear communication and transparency to ensure customers understand and accept the new pricing approach.
Today, with the right guidance and a reliable partner like royaltycashdiscount.com, businesses can effortlessly implement cash discount programs. If you own a business and are looking to eliminate card processing fees or even generate an additional income stream from your payment system, you should seriously consider a cash discount program, and explore the possibility of joining the Royalty Cash Discount family.
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