Why Should Businesses Opt For Best Cash Discount Program?

If you run a business, you must have heard about cash discount programs and how they can work wonders for businesses of any type. You will be fascinated at how this program can work if you are struggling to get your finances under control.

Whether you own a car repair shop, run a medical clinic or even sponsor a dog-walk service, you can seamlessly offer the cash discount program for your entity. This process enables you to reacquire the expenses you might have surrounding network needs and credit card interchange.

It is ethical, and legal as you are allowing people to know they will be paying less money if they purchase something with cash. They will not have to be surprised by any sudden charges when paying with a credit card, as they will be aware beforehand that it will cost them extra to pay for something this way.

You can also employ a cash discount program if you take payments worth thousands of dollars; it also works on check payments.

The Beneficial Process Of Cash Discount Program

Price Right Global Solution LLC offers a cash discount program that ensures your profit margins are not harmed by any credit card transactions. It does not work as a surcharge where you would add an extra fee for any sort of card-based payment after the client chooses to pay with their card. Rather, your business will promote the benefits of discounts for cash payments.

You will put forward to your customer that will have to pay more if they opt to use their credit card. The extra amount could be a particular percentage of whatever someone is spending on a service. However, by purchasing with a check or cash, the client will not have to pay that added extra amount.

Perks Of Cash Discounts

Why do numerous companies offer cash discount programs? It is because they are crucial for any sort of business that wants to save on payment processing fees. There are the top five benefits you can enjoy when you implement the best cash discount program at your business. It can allow your business to:

1. Attract Bargain Hunters

Who doesn’t love to get a nice discount? When a bargain hunter sees that he/she can pay less by using cash, he/she would leave your store feeling like they have won a great deal and will be more likely to shop again with cash; set to take advantage of the cash discount again.

If you had customers who were shopping in your store before you increased your prices to accommodate the discount program, they can pay in cash to continue availing the lower prices they were habitual of.

2. Reduce Chargeback Risks

Besides the fees that automatically come with any card transactions, these transactions can also sometimes lead to additional fees.

For instance, if one of your customers comes back to your store with their receipt or credit card statement thinking something is wrong. You will have to pay to go through different parties involved to investigate the concern and settle it with your customer.

Chargebacks are only possible with credit card payments, so when you motivate customers to pay in cash, you eliminate the risk of chargebacks.

3. Increase Cash On Hand

When your customer pays in cash, it means you can have more access to cash on hand for your business. Whether you need to give a change to your customer or order new equipment, it is always helpful to have an amount available in your pocket.

However, if you work with a strategized MSP, you can expect to receive funds from your credit card transaction fairly.

4. Eliminate Extra Fees

The main feature of the cash discount program is that it can save your business from having to bear the costs associated with credit card processing.  Organizations that handle credit card processing, also known as MSP or merchant service providers, charge fees to cover the service they offer, and to pay credit card associates and banks who take in the majority of the fees you pay.

These parties are required to be paid, however, you do not need to let those fees reduce your profit margins. With the cash discount program, it will be as small as these fees are nonexistent since you have accounted for it with your prices.

5. Keep Your Profit Scale Consistent

It is also crucial for businesses to be able to maintain consistent profit margins so they can flawlessly budget and make their financial decisions for the future. If you do not have a cash discount program, the processing fees can easily become wild cards.

Cash transaction doesn’t involve a fee, however, card transactions will include various fees relying on the type of card they use to make the payment. With a cash discount program, you remove this unknown. Instead, your profit scale remains steady across all transactions.

How We Employ Cash Discount Programs

At Price Right Global Solutions LLC, w assist you in taking full advantage of the perks that cash discounts can offer. With our best cash discount program, you do not have to worry about what charges/fees you will be charged for different transactions.

Alternatively, we upsurge all your prices by 4%, covering any potential fees if someone chooses to pay with a credit card. For example, if someone chooses to pay with a check, cash, or debit card. In other words, the price increase will be waived since there won’t be any processing fees to account for.

Process Payments With Price Right Global Solutions LLC

With years of experience, Price Right Global Solutions LLC is a trusted source of solutions that can help your business grow sustainably. Our solutions give you exposure to the benefits of accepting different types of payments, so you don’t miss out on any potential growth. 

You can also take full advantage of our Dejavoo Z8 Terminal to facilitate your sales. When you partner with us for any credit card transaction, you do not lose money to processing fees. In addition, your customers will feel like they are winning a bargain when they pay with cash. It is a win-win situation for both you and your clients.

With our Dejavoo Z8 Terminal, you can process your payments easily, quickly, and seamlessly.