How much do you spend each month on credit card fees?
The amount American businesses spend on processing fees is increasing at a monstrous rate. This is because the perks and benefits being offered by credit cards and banks are getting more and more expensive to maintain. The natural inclination is to pass the cost on to merchants like you. Why should you have to foot the bill for your customers to go on vacation with their credit card cashback bonus?
Processing fees are simply a cost of doing business, and while you can’t ignore them, a cash discount program can help you mitigate their impact to your bottom dollar. Processing fees are an expense that merchants often overlook. The relative ease of paying with a card, coupled with the thousands of cash back perks, airline miles, and rewards programs available to cardholders means a customer rarely carries cash to make purchases.
This zero fee processing solution is a comprehensive solution that allows businesses to collect 100% of their revenue by passing thru a non-cash price (typically 3.5%-4% higher than cash price) to customers paying with credit or debit cards. This fee is collected through a PCI compliant software seamlessly integrated with the credit card processing terminal.
The Cash Discount Program was designed to help business owners offset their processing cost completely and create an incentive to pay with cash. The non-cash fees collected are then used to combat processing and interchange expenses. Our goal is to help merchants like you mitigate your credit card processing fees by offering your cash customers an incentive.
But every business is different. Your needs are based on the amount of foot traffic you have, whether you rely on repeat business, and the actual percentage of your customers that use credit or debit cards. We will customize a plan to suit your needs. Call Sync Payments today for a free consultation.