No worries. If you do not like the program for any reason, we can immediately revert your payment solution to traditional interchange pricing.
The short answer? No. Currently we operate well within the Mastercard and Visa service rules; while the laws regulating a cash discount program may change in the future, everything we do is by the book. For example, take a look at the stipulations regarding Visa's views on cash discounts: From Visa Core Rules and Visa Product and Service Rules – 22 April 2017 "220.127.116.11 Discount Offer – US Region [...]
The Cash Discount Program is ideal for businesses that have hundreds of small transactions per day (think coffee shops, gas stations, convenience stores, etc.). For businesses that have high ticket sales, we recommend our traditional merchant processing services.
Simple. Paying with a credit card incurs processing fees. By eliminating these fees (a few cents a transaction), a cash discount can save a business thousands of dollars every month. We eliminate monthly processing fees for small businesses. For example, think about a convenience store or coffee shop. The average ticket price is generally not going to exceed $10. For credit cards or debit cards charged as credit, the [...]
A card-not-present or CNP transaction is any transaction for which the physical credit card is not on location when the purchase is made. E-commerce transactions are the most prominent example of CNP purchases. Card-not-present transactions require a degree of trust on behalf of the merchant, as the cardholders’ physical absence limits the merchant’s ability to verify the identity of the individual who initiates the transaction. CNP transactions, also known [...]