Credit card processing can cost your business nothing! As long as your POS system has this feature baked in, your employees can seamlessly offer options to pass the cost of processing onto your customers. See how our system makes this possible:
CAP Retail offers integrated Cash Discounting — allowing you to pass the cost of credit card processing to your customers. Consumers have the option to either skip the fee by paying with cash, or pay the fee with credit, offsetting your processing costs each month.
We set up your account with the ideal processing rate, which is then applied only to credit card transactions.
Once enabled, you will see a pop-up box appear at the tender screen that shows the transaction total, a “service fee”, and then the cash and credit options.
If the customer pays with cash, they get a “cash discount” equal to the “service fee”.
If the customer pays with credit, they do not receive the discount.
These options display on the cashier screen and the customer facing LCD, if present.
Since the cash discount logic is built directly into the POS software, no manual entry of totals into the pinpad is required.
The transaction is then tendered as normal and the service fee and discount are displayed prominently on the receipt.
The cash discount fee and related discounts are displayed in your end-of-day reporting so you can track how much you are saving on a daily basis.
To put it simply, processing fees are passed on to your customers who use credit cards so you don't take the financial hit, rather than your business paying for a percentage of each credit card transaction. For more information or to learn if dual pricing , formerly known as cash discounting is right for your small business, check out this quick one-sheeter.
Depending on your payment processor and POS provider, this shouldn't cost you a thing! With POS Nation and our preferred providers, we offer dual pricing as part of your system.
Dual Pricing can work for almost every business, but here are a few things to consider:
To learn more about cash discounting, check out this article!
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