Cash Discount

Debunking the Top 5 Myths About Cash Discount Programs Cash discount programs are gaining traction as a smart way for businesses to cut operating costs and boost profits. By encouraging cash payments, businesses can save money on processing costs and enhance customer satisfaction by giving customers more payment options. These programs incentivize cash transactions by … Read more

In the world of business, every penny counts. When it comes to online transactions, processing fees—incurred through payment processing—can chip away at your profits. Accepting credit cards is a common practice for many businesses to increase sales and customer satisfaction, but it comes with the added cost of credit card processing fees. These fees are … Read more

What is one of the industries best kept secret: Cash Discount Program Cash discount programs have become a buzzword in the world of business. The best cash discount program can significantly reduce payment processing fees for merchants, making it an attractive and easy-to-implement solution. They offer a mutually beneficial approach that enables both business owners … Read more

Key Takeaways A credit card surcharge is a separate fee (typically 1–3%) added to credit card payments to recover processing costs from card-using customers. A cash discount program posts higher “card” prices as the standard price and gives an immediate discount to customers who pay with cash, check, or ACH. Debit cards and prepaid cards … Read more

If your business accepts credit cards, then you should also offer a cash discount program. Cash discount programs are a cost-effective solution for reducing payment processing costs and saving money. At Velocity Merchant Services, we are happy to help our clients to establish cash discount programs of their own. These programs save clients money on … Read more

Understanding Payment Processing Costs Understanding payment processing costs is the first step to taking control of your business’s expenses. Every time you accept a credit card payment, you pay a combination of credit card processing fees that can range from 1.5% to 3.5% of each transaction. These processing fees are charged by payment processors—companies like … Read more

If you’re a merchant, you already know that credit and debit cards are the most common payment method today, but did you know that, as of 2018, 70% of consumers say they use cash for some or all of their purchases? That’s a lot of customers that are potentially willing to pay in cash. However, … Read more