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What is a Cash Discount Program?
Credit card processing has become increasingly expensive for merchants, especially small businesses who have tighter budgets and can't always cover the cost of credit card fees in their markup. As these fees continue to increase and become more and more confusing Merchants of all sizes are looking for relief from these fees.
Cash Discount has been around for years for certain industries like Gas Stations, but only recently with the Durbin Amendment did it become available to all merchants.
CHooZ® is a Cash Discount program that allows a merchant to offer a cash discount when a merchant decreases the price for cash purchases and offers merchants an alternative to credit card processing. Cash discount works by adding 4% to your goods and services and the fee is removed if the customer pays with cash or an in-store gift card. If the customer pays with a credit card, the 4% is not removed and will go towards covering 100% of your processing fees..