Looking for ways to free up revenue for other aspects of your business? NuWay Business Solutions, a Chicago-based business consultancy, has a new report on how local entrepreneurs can save thousands on card processing fees with cash discount programs.
Are you looking for ways to increase your business’s sustainability and growth? NuWay Business Solutions could help you out. You’ll learn how to avoid credit card processing fees and enhance your business overall with cash discount programs.
The new report will educate you about how you can use these discount programs to encourage your customers to pay in cash, which reduces your risk of chargebacks and avoids many card processing fees.
You can get more information at NuWay Business Solutions' website here - cash discount for retail.
This latest report explains that the credit card fee, which is already included in the price of each product, can be eliminated in form of a 4 percent discount for customers who pay in cash. It is important to stipulate this on the receipt to stay compliant with legal regulations.
The most common method of processing credit cards is interchange plus, which makes you responsible for card processing fees. These fees total about 4 percent of each purchase. In addition, you're responsible for chargeback fees of as much as 15 to 40 percent of the disputed transaction value.
According to the report, with cash discount programs, your monthly credit card fees could be reduced by as much as 92 percent! You may be more familiar with a similar program called surcharging. However, unlike surcharging, which is prohibited by credit card companies, an appropriately designed cash discount program won't cause you to run afoul of credit card company regulations.
Cash discount programs help you improve your cash flow and they are easy to implement. They give you significant savings on processing fees, decrease chargeback cases, and allow immediate access to sales proceeds. With more revenue available, you can work on other crucial aspects of your business, such as product development and marketing strategies.
About NuWay Business Solutions
Site owner Brian Pawl has been a business owner for over 10 years. His consultancy offers you financial and data analysis, ways to reduce or eliminate your credit card processor fees, and marketing services. Brian has been in the financial, business development, and real estate industries since 2010.
Brian says, “NuWay Business Solutions is at your service. My 10-plus years of experience will be invaluable when I help you jumpstart and implement an easy and effective cash discount program. You'll witness a significant decrease of costs in your monthly bills, if not a complete elimination. Rest easy knowing you also minimized your chargeback risk and enjoy the convenience of accessing your profits anytime with our cash discount program.”
Save on your business costs and boost your profits with a cash discount program! Once you do, you’ll need to make sure to follow some regulations, but it’ll be easy with a trusted consultant like NuWay Business Solutions.
To learn more about cash discount programs, go to https://nuwaybizsolutions.com/2022/02/01/cash-discount-4-ways-to-achieve-optimal-cash-flow-with-a-cash-discount-program and see how you can jumpstart your business growth!
