How to Offer a Compliant Cash Discount Program Using DuoPriceList
Credit card processing fees can cost your business thousands of dollars every year – that’s money that could be reinvested into your business rather than being handed over to credit card companies. If you’re looking to reduce or eliminate these fees, offering a cash discount program is a great way to accomplish this. These programs allow you to offer customers lower prices when they pay with cash instead of a card, saving the customer, as well as your business, money.
However, the rules regarding cash discount programs have changed, and if you’re using the old ways of doing business, you will need to adapt. Luckily, DuoPriceList makes this simple.
Cash Discount Program Rules Offering a cash discount program is a great way to save customers money while avoiding paying credit card processing fees. Our cash discount program is a no-risk program that allows you to offer a lower price to customers who pay using cash instead of a card. By avoiding credit card transactions, you’re able to reduce or even eliminate your monthly interchange fees.
However, the rules have changed and it’s important that you’re offering a cash discount in a way that’s in line with credit card brands’ rules so you don’t get in trouble. The rules state that merchants must show the credit card price and the cash price for each product; these prices may be on a list.
What is DuoPriceList? DuoPriceList is a software by DuoPriceSoft that allows you to offer a cash discount program that’s fully compliant with all card brands’ rules. It automatically provides a list of card and cash prices for your items, making compliance easy.
How It Works To use DuoPriceList, you will start by signing up for free and accessing your dashboard. Your information will be kept confidential.
Next, in your dashboard settings, you can set your credit card fees and discount rate. These prices will be used for all pricing sheets you add.
You’re then able to add your products. The software will create a link to your own personalized website that displays the dual pricing of your inventory.
This software works with all terminals and POS systems that have a cash discount function.
Why Choose Merchants Bancard Network Merchants Bancard Network has an exclusive arrangement for the pricing and usage of DuoPriceList – our competitors do not offer this! By using MBN for your merchant services needs, you’ll have access to this software and be able to easily and effectively stay compliant to rules regarding cash discount programs. While other companies will be scrambling to help their non-compliant merchants, you’ll already be prepared with a fully compliant and functioning solution.
You work hard for your money – don’t lose it to credit card processing fees. With the help of DuoPriceList, you can offer a compliant cash discount program to help you improve your customer experience while keeping more of your income. To learn more about DuoPriceList and Merchants Bancard Network, visit merchantsbancard.com.