Quit Paying For Your Customers Loyalty Points
Use Cash Discounting To Cover Credit Card Fees
The good news is, credit card rates have never been better. The bad news is, more people use credit cards for transacting purchases than ever. This leads to rising credit card fees. These fees are more prevalent when you add them up at the end of the year, or tax time. Then you notice you do not have the funds you use to have in years prior. One solution is to raise your prices, but if you do that many may go to your competitor with a cheaper listed price item.
Another solution is implementing a cash discounting program with one of our merchant partners. This allows you to have a fixed credit card rate, and allows your point of sale solution to add this extra cost to your customers. With proper signage you can make your customers aware that the price listed is the cash discounted price and that the credit card price is 4% more. Each point of sale system that FPOS Group manages, allow there to be fees taken from each credit sale. In this case, this money helps off set these fees at the end of the month. This saves you hundreds if not thousands of dollars a month.
Implementing cash discount is a great way to help fight the sting of credit card fees. If you combine cash discounting with tip retention, FPOS Group can eliminate credit card fees. Please make sure to check local regulations before implementing cash discounting with your point of sale system. Finally, some state and local governments do not allow or have limitations of how much you can discount.
How Do I Implement Cash Discounting?
Any current Future POS customers should reach out to their sales representative to get the ball rolling to implement cash discounting on their system. Please contact FPOS Group and a specialist will be assigned to you.
However, if you are not a current FPOS Group or Future POS customer and would like more information on how we save our customer's time and money please click the link below to set up a demonstration from our staff.