The surcharge or “cash discount” program is a new technique to help merchants avoid paying credit card fees. It functions by shifting the cost to whoever pays with their debit or credit card. Upon payment, customers will be prompted to pay with a card for a fee or use cash instead.
Merchants who use Aldelo POS can sign up for the Cash Discount or Surcharging program and implement a 4% surcharge on their payment terminals for all card payments.
If a customer chooses to pay with cash, the POS system will waive the 4% fee. This offers customers a chance to save and will drastically lower expenses incurred by processing fees. Even if a customer does choose to use a card, the burden is no longer your responsibility.
With dozens of happy merchants and customers participating in the program, you can rest assured that you won’t be disappointed. Don’t worry about any legal concerns either.
No extra installation or work is required to participate in the Cash Discount program. It is already built-in and available on your Aldelo POS system.
The merchant runs the card for a $100 sale. The cardholder is then charged a total of $104.
$100 is deposited to the bank account for next day funding. We withhold $4 or the equivalent amount that equals 4% from each batch.
This ends up being a 4% charge on the original $100 sale. The business owner is charging 4% to the client and exactly 4% is being paid to offset a processing charge.
The Cash Discount program is 100% legal in Massachusetts, and New York among several other states. Those who opt-in are now paying $0 in credit card processing fees, and customers reportedly understand the arrangement too!
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