Dual Pricing Program Eliminates the Cost of Accepting Credit Cards
Every business needs credit card processing, but it doesn't have to hurt your bottom line. Dual Pricing Program will offset most, if not all credit card processing costs, saving you more money to grow your business.
It's the most popular solution that has recently become available for businesses. A small customer service fee is added to all sales; however, as an incentive for customers to pay in cash – the customer service fee is immediately waived!
It's the most popular solution that has recently become available for businesses. A small customer service fee is added to all sales; however, as an incentive for customers to pay in cash – the customer service fee is immediately waived!
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Here are some of the benefits of Dual Pricing Program:
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Frequently Asked Questions
Is this legal?
Absolutely! Not only did all four card associations create this opportunity for merchants,
all 50 states have approved it.
(FLA. Stat. §501.0117) As Mitchell Katz, s
spokesman for the Federal Trade Commission, said in May of 2011: The Dodd-Frank law prohibits a payment card network such as Visa “from inhibiting the ability of anyone to provide a discount for payment by cash, checks, debit cards, or credit cards,” said Katz.
“Neither surcharging, nor a cash discount is illegal.”
all 50 states have approved it.
(FLA. Stat. §501.0117) As Mitchell Katz, s
spokesman for the Federal Trade Commission, said in May of 2011: The Dodd-Frank law prohibits a payment card network such as Visa “from inhibiting the ability of anyone to provide a discount for payment by cash, checks, debit cards, or credit cards,” said Katz.
“Neither surcharging, nor a cash discount is illegal.”
What is the cost to get started?
For retail merchants and restaurants who currently process credit cards with a counter top credit card terminal or any of the trades that manually enter transactions using a counter top or virtual terminal, there is absolutely no out of pocket cost to participate in this program and eliminate up to 100% of all processing fees. We provide a state of the art counter top terminal for FREE to all our customers!
If the merchant desires to upgrade to a point of sale system or wireless terminal that has the functionality for the CASH DISCOUNT PROGRAM, then there are several point of sale systems available and wireless terminals for different prices.
If the merchant desires to upgrade to a point of sale system or wireless terminal that has the functionality for the CASH DISCOUNT PROGRAM, then there are several point of sale systems available and wireless terminals for different prices.
Do i have to sign a contract?
We do not believe in making customers sign lengthy contracts; however, we suggest that all merchants agree to use the Cash Discount Program for a minimum of 90 days to see the full effect of saving money. It is and always our philosophy that if we are not earning your business every day, then we do not deserve to keep your business.
WHAT OTHER BUSINESSES ARE USING THE Dual Pricing Program?
There are many merchants saving big with the Cash Discount Program and the numbers are increasing weekly.
WHEN ARE FUNDS DEPOSITED TO MY ACCOUNT?
Depending on the time you settle your daily batch, the vast majority of our clients receive their deposits the following morning (Friday, Saturday & Sunday’s batches generally are seen in the merchant’s accounts on Monday). If you batch out after the next day funding cut off time, the deposits will be the day after.
MY EMPLOYEES ARE NOT REALLY GOOD WITH MATH. ARE THEY GOING TO HAVE TO FIGURE OUT HOW MUCH THE CUSTOMER SERVICE FEE IS FOR EACH SALE?
Absolutely Not!!!! The terminals provided for free (or if you choose a point of sale system) are preprogrammed to figure the small customer service and then print it on the receipt for the customer to sign.
MY EMPLOYEES ARE NOT REALLY GOOD EXPLAINING THINGS TO CUSTOMERS?
We will work with your employees on exactly what and how to share this program with your customers. We will also provide your employees with our phone number to give to any customers who might want to know more about the Cash Discount Program.
WHEN ARE THE CUSTOMER SERVICE FEES COLLECTED FROM THE MERCHANT?
This is one of the best parts of the program. Whenever the terminal is batched or settled, the merchant receives 100% of the sales amount that was processed. The small customer service fee will be sent directly to the processor to cover all the processing fees. This way the merchant does not have to worry about having a big withdrawal at the end of the month the way they use to.
IS THIS SOME KIND OF NEW PROGRAM?
No, in fact it’s been around for decades and is used across the US in gas stations where a cash discount is offered at the pump. Gas stations have been using this program in the US for over 15 years. Many national, state and local governments including the DMV, Secretary of State, Post Offices, Schools, Courts, and the IRS implement a Service Fee.
WHAT DO I NEED TO MAKE SURE I AM USING THE PROGRAM CORRECTLY IN MY BUSINess?
In order to correctly implement the Cash Discount program, you don’t need to change any of your prices – you simply post signage (that we will provide) that states that all transactions now carry a customer service charge. Our state of the art processing terminals or point of sale systems will do all the calculations at the time of transaction. Should your customer choose to take advantage of the Cash Discount and pay with cash, the customer service fee is immediately waived.
WHY DON'T I JUST IMPLEMENT THE PROGRAM MYSELF?
This is an option, however you will still have a deduction from your bank account just like a legacy plan. Also you can never charge enough to cover all of your cost. With our cash discount program, we zero out the fees.
