Merchant Services Cash Discount EDGE Program
Smart Terminal
Retail or Restaurant
Wireless
The cash discount program allows a business owner the ability to charge customers either a set amount between $.01 - $1.00 per transaction or a percentage of the volume on the sale up to 4 % on a credit card transaction. The surcharge percent charged to a customer can completely offset the cost of accepting credit cards at your business.
Setup a merchant account with our company and get a free countertop Verifone Vx520 machine or portable Verifone Vx680 payment system or PayAnywhere smart terminal. The credit card equipment will arrive with signage to be displayed both at the business entry point and at the point of sale that will explain the cash discount program payment options. That way a customer will always know that if they choose to pay with cash there will be no service fee added to the transaction. The service fee will also be displayed as an added line item on the receipt for each transaction.
How Does Cash Discount Work ?
The below example illustrates how the merchant services cash discount EDGE program works on a percentage basis for a business. This scenario shows you how much money a merchant can save on credit card processing sales and at the same time earn profits to use towards monthly merchant services costs or any other fees that may arise through your account. The remaining money after all rates and merchant account fees are paid will be a net profit to the business.
This example is based on a $ 100 credit card transaction with a 4 % surcharge to customer
The above diagram is an example of how the Cash Discount Program works. Actual dollar amounts will vary.
Every merchant account will have to stay compliant by completing a SAQ Self Assessment Questionnaire every year or they will be charged a monthly PCI non compliance fee. PCI monthly & annual fees may still apply to a merchant account based on PCI Tier level of business.
