The new report educates business owners about how they can use these discount programs to encourage customers to pay in cash, which reduces the risk of chargebacks and avoids many card processing fees.
More information is available at https://nuwaybizsolutions.com/2022/02/01/cash-discount-4-ways-to-achieve-optimal-cash-flow-with-a-cash-discount-program
This latest report explains that the credit card fee, which is already included in the price of each product, can be eliminated in form of a 4 percent discount for customers who pay in cash. It is important to stipulate this on the receipt to stay compliant with legal regulations.
The most common method of processing credit cards is interchange plus, which makes the merchant responsible for card processing fees. These fees total about 4 percent of each purchase. In addition, business owners are responsible for chargeback fees of as much as 15 to 40 percent of the disputed transaction value.
According to the report, with cash discount programs, monthly credit card fees could be reduced by as much as 92 percent. Many business owners may be more familiar with a similar program called surcharging. However, unlike surcharging, which is prohibited by credit card companies, an appropriately designed cash discount program will not run afoul of credit card company regulations.
Cash discount programs help business owners improve their cash flow and they are easy to implement. They give business owners significant savings on processing fees, decrease chargeback cases, and allow immediate access to sales proceeds. With more revenue available, owners can work on other crucial aspects of their business, such as product development and marketing strategies.
About NuWay Business Solutions
Site owner Brian Pawl has been a business owner for over 10 years. His consultancy offers business owners financial and data analysis, ways to reduce or eliminate their credit card processor fees, and marketing services. Brian has been in the financial, business development, and real estate industries since 2010.
Brian says, “NuWay Business Solutions is at your service. My 10-plus years of experience will be invaluable when I help you jumpstart and implement an easy and effective cash discount program. You will witness a significant decrease of costs in your monthly bills, if not complete elimination. Rest easy knowing you also minimized your chargeback risk and enjoy the convenience of accessing your profits anytime with our cash discount program.”
Interested parties can find more details at https://nuwaybizsolutions.com/2022/02/01/cash-discount-4-ways-to-achieve-optimal-cash-flow-with-a-cash-discount-program
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