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Many small businesses such as nail salons, restaurants, grocery stores… are being FINED up to $25,000 and locked payment accounts (merchant) for misapplying the Cash Discount program – discounts when customers pay in cash.
Are you using a cash discount program in your store? If so, read this article to understand the potential risks and how to apply them correctly!
Fines from Visa and MasterCard often stem from illegal implementation. Here are some common mistakes:
❗ Only showing cash price, not clearly stating original price (card price) – easily confusing and illegal.
❗ Informing customers incorrectly about payment policies – lack of transparency.
❗ Confusing “Cash Discount” and “Surcharge” – these are two completely different programs. Cash Discount is a discount, while Surcharge is a surcharge (charged when customers use a card) and is limited by state law.
We are the only company in the United States that has contacted Visa and MasterCard directly to verify the legal terms when applying the Cash Discount program.
With experience implementing for hundreds of businesses, we ensure that you can apply it legally, without worrying about being fined or having your merchant account locked.
When working with us, you will receive:
Many shops have been fined thousands of dollars by Visa/MasterCard, or even had their payment accounts suspended just because they did not understand the regulations.
Don’t let that happen to you!
*Contact us today for advice and implementation of a safe, complete solution from A-Z.
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