While nobody likes to pay extra for anything, many consumers are starting to realize how expensive it is to process credit card transactions these days. By charging a 4% fee on a sales transaction, that’s a small price to pay for the goods and services you sell. In fact, industry surveys have shown that over 80% of respondent stated they would not think twice about paying such a fee, simply for the convenience of paying with a credit card vs carrying cash with them at all times. This survey was made on a $1 to $25 transaction amount. Additionally, we’ve all got used to paying a $2 – $5 service fee when using an ATM machine, and this cash discount program is usually cheaper than paying this fee in most transactions. If you explain your customers that the Cash Discount program is a way for you to keep providing quality products and services without increasing all your prices, most customers would understand and be OK with it. Lastly, usually a 4% fee on an individual transaction is a small price to pay for a consumer, however, for you the merchant, these savings build up. PermalinkPosted: March 23, 2026
