Your business can have serious savings with Sky's Cash Discount Option.
Our cash discount price option will enable you to pass the processing fees for credit card payments back to the customer. With this option the customer pays the processing fee not the merchant. This is reflected and itemized properly on the receipt.
How Does the Cash Discount Pricing Work?
If the cash discount price plan is selected, our system automatically places a pass the fee amount of 3.25%, on every card transaction that your customer pays at the time of checkout.
For example, if you have a cart total $100.00, the cash discount price would be $103.25 charged to your customer. Leaving you with a deposit of $100.00.
Why Consider the Cash Discount (Plan/Option)?
With processing fees on the rise, and credit card fees becoming a significant cost for small businesses, our users have found that requiring their customers to pay the fee not only greatly improves their profits. It also give the consumer an opportunity to be aware of the costs associated with credit card payments.Which in turn makes them more conscious to pay with cash at small business establishments.
A conscious consumer may sound bad for a card processor. However, it is one of the few ways to put pressure on card companies to lower interchange rates. Looking at the big picture, with a conscious consumer, passing the fee benefits everyone.
With rates on the rise and the regulations being placed on small and mid-sized businesses(SMEs) there has never been a better time to introduce cash discount pricing to your customers.