What do we charge?
Want to accept credits cards without the expensive fees? The Nationwide Cash Discount program allows you to have one simple rate of 3.75% or a fixed fee, which is passed to the card holder. As a business owner, all you pay is $29* per month. Our cash discount program has saved merchants thousands and typically saves over 95% to 100% on fees.
- No fees – transaction, AVS or Batch etc…
- All you pay is $29 a month per terminal
- All the other fees are bundled into the 3.75% or Flat fee which is passed on to the cardholder as a service fee.
- No Interchange or Card Brand Fees
- No Monthly Merchant Account Fees
- No PCI Compliance fees – you must be PCI Compliant
- Cash Discount is legal in all 50 States
How do we do it?
Nationwide Cash Discount uses a legal program that can be used in all 50 states and is provided exclusively by Nationwide Cash Discount that was created to offer merchants an alternative to standard credit card processing. With Nationwide Cash Discount, merchants will reduce their credit card processing costs by applying a small service charge to each sale they make. These two federal court cases/ laws allow all business to offer cash discount.
The Durbin amendment is a provision of United States federal law, 15 U.S.C. § 1693o-2. It was passed as part of the Dodd-Frank financial reform legislation in 2010
Ohio v. American Express Co., 585 U.S. ___ (2018), was a United States Supreme Court case regarding the nature of antitrust law in relationship to two-sided markets. The case specifically involves policies set by some credit card banks that prevented merchants from steering customers to use cards from other issuers with lower transaction fees, forcing merchants to pay higher transaction fees to the banks. While Visa and MasterCardsettled with the United States Department of Justice in 2010, American Express defended its practice by arguing that the anti-steering policies benefited its cardholders, the higher transaction fees helping to maintain member services. While the Department of Justice and several states prevailed during a District Court trial in 2015 citing harm to the merchants, the Appeals Court reversed the District Court’s ruling in 2016 by ruling that the plaintiffs had not shown harm to both sides of the two-side market, a novel test in anti-trust law. This decision led to some of the states to appeal to the Supreme Court. The case was heard by the Court in February 2018.
The Court issued its decision on June 25, 2018, affirming the Appeals Court’s ruling that steering provisions do not violate antitrust laws. With this decision upheld
What is a cash discount?
A “cash discount” happen when a merchant decreases the price for cash purchases. The program does not discriminate one card over another. Cash Discounts reward customers for paying by a particular means and/or for not using a particular means of payment. Cash discount programs have been available for years to many other merchants including higher education, government, gas stations and utility providers, but only recently have the federal regulations been changed to allow independent business owners to use the same programs.
Cash discount is different than a surcharge?
A “surcharge” occurs when a merchant increases the price for credit card purchases. A “cash discount” happens when a merchant decreases the price posted for their goods and services for alternative payment / purchases. No surcharges or fees are allowed on debit card transactions, specifically PIN based debit.
How does it work?
First, a small customer service fee is added to all transactions. A discount is offered when payment is made in cash.
What benefits does Cash Discount provide merchants?
With Nationwide Cash Discount, you can reduce your merchant service fees with little to no impact on your current sales volume. Nationwide Cash Discount is a legally compliant and patented automatic cash discount software is available in all 50 States and works on all credit card types, including mobile wallets such as Apple Pay. Even better, this technology can work on mobile terminals, mail order telephone orders, invoicing and with e-commerce.
Can any business use Nationwide Cash Discount?
Nationwide Cash Discount is the ideal solution for a variety of service-based industries including retail, food and beverage, personal services, and professional services. Most businesses who use our program have an average ticket sale between $14-75, but any business can use the program! You pay baggage fees at the Airport, You pay extra fees at hotels, resorts and rental car now customers will pay credit card fees.
How much money will your business save?
The only fees you will be billed for is PCI non compliance, if you complete your PCI compliance your only fee will be the $29 fee per terminal.
Can i switch back to traditional program?
Yes you can switch back to a traditional program – we reprogram your terminal and we change you back to traditional pricing.
Do I get signs to put up in my business?
Yes, we require you to put a sticker on your entrance and display a sign by the cash register that has a phone number on it in case anyone wants to call customer service to ask questions.
How much will customers get charged?
This program will become the norm in most businesses – it’s a small fee (3.75%) and it will help businesses keep their prices the same instead of increasing prices all the time. Customers benefit from using cards by getting rewards, cash back, miles and more! Customers use ATM’s and pay $3 to $5 per transaction the Cash Discount program is a lower cost alternative.
- $15 – 56 cents
- $25 – 94 cents
- $35 – $1.31
- $50 – $1.86
- $75 – $2.81
- $100 – $3.75
How do we determine the Service Fee?
It can be a flat fixed fee or 3.75%, it’s up to you – we work with you to determine the best option for your business.