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ETERNAL GLOBAL WEALTH- CASH DISCOUNT PROGRAM

Keep Your Cash Flowing

 

What is a Cash Discount Program?

A cash discount program is a type of credit card processing that passes the cost of acceptance back to customers who choose to pay with a credit card or debit card. Instead of the business paying for the cost of accepting a credit card as payment, the customer is given a choice to pay with cash and save or incur the cost of acceptance themselves


At Eternal Global Wealth, we know that when you're running a small to mid -sized business, nothing is more important than maintaining your cash flow. Positive cash flow fuels your business. That's why we introduced our innovative new Cash Discount Program exclusively through one of our partners. Now, you can offset your credit card processing expenses simply by offering your customers a cheaper way to pay. 


Partner with the transactions leader today, and you'll of course get access to the industry's latest and greatest credit and debit card acceptance solutions including solutions for both EMV "Chip Card" and NFC transactions. However, you'll also take advantage of one of the industry's most rewarding Cash Discount Programs featuring:


*** A FREE STATE-OF-THE-ART CASH DISCOUNT READY VERIFONE VX 520 FEATURING QUICK CHIP, A920 Android Smart Terminal, Ingenico, and many more systems. See our POS System page. ***


*** TWO STICKERS ( one for your front door and on for your register) STATING THAT YOUR DISPLAYED PRICES ARE CASH PRICES AND THAT A CASH DISCOUNT SERVICE FEE WILL BE ASSESSED FOR ELECTRONIC PAYMENTS***


 

New rules allow merchants to add a convenience fee for the use of credit cards. 


A cash discount program is a way for merchants to pass the cost of card acceptance along to cardholders. The merchant will raise all of their prices via simple signage in their location, and then offer a discount to customers paying with cash.


 

What is a surcharge program?

A surcharge program is a type of credit card processing where you charge the consumer an additional fee on top of the cost of goods to cover the merchant processing cost. Surcharge programs are currently only legal in 40 states while cash discount programs are legal in all 50 states.

Giving discounts for cash is almost always better received by the customer when compared to adding a surcharge fee.


 

Is it legal to pass credit card fees to customers?

Yes, it is legal to pass credit card fees to customers. It is legal to pass fees on using surcharge fees and cash discount programs. Surcharge fees are legal in 40 states while cash discount programs are legal in all 50 states.


While it’s legal to pass credit card fees to customers, we may be asking the wrong question. The legality of passing fees to customers is covered by the Durbin Amendment as a part of the Dodd-Frank Law (financial reform act.)


What should be asked though is if the card brands will allow passing merchant service fees and processing costs to the customer. Before setting up a program for your business, it’s vital that you read the rules of acceptance with the major credit card providers.


Zero-Cost Credit increases consumer fairness.


The Discount Fee Process: A customer decides to use a credit card for your services or products. Because they are not paying by cash they are not given a “Cash Discount” price, therefore paying the additional 4% higher than the cash price.


This example demonstrates a 4% Cash Discount difference (ex. Product Price=$20.80, Cash Discount Price=$20). Credit purchase is $20.80 or 4% higher.


Your terminal is programmed with special software that seamlessly adds your non-discount percentage to offset your processing cost.


We can help you virtually eliminate the fees you pay to accept credit cards through our cash discount program. 


Reduce your cost of card acceptance with our Cash Discount Program.

  • Decrease your operating costs. Cover up to 100% of your processing fees.
  • Free up resources. Virtually eliminate one of your largest business expenses, use that cash to invest in your business!
  • Works with the latest terminals. We offer state of the art EMV terminals with all of the appropriate programming to allow you to offer Cash Discounts.

 

Cash Discounting is simple, but you need a few things to get started. Follow these easy steps to get set up.


  1. We will update your processing agreement (or sign a new one with you).
  2. Update your terminal. Your terminal needs to print an additional line item on credit and debit card receipts to add the additional fee to all purchases.
  3. Post signage at your point of entry and point of sale. 

  

Are Cash Discounts Legal?

Utilizing a cash discount at the point of sale is completely legal in all 50 states. A cash discount can easily be confused with a credit card surcharge, which is legal in only 40 of the 50 United States. (Surcharging is illegal in Texas, Oklahoma, New York, Massachusetts, Maine, Kansas, Florida, Connecticut, Colorado and California.)


Credit Card Convenience Fees


A convenience fee is a fee that a business charges customers who use credit cards rather than another form of payment that's standard for the business. For example, a business that traditionally accepts check or ACH for transactions has offered credit card payments as a convenience may charge an additional fee for that convenience.

It's up to the Merchant's discretion whether to charge their customer a non-discount fee or pay the fee themselves. 


WITH CASH DISCOUNT, YOU AND YOUR CUSTOMERS BOTH WIN!


TO APPLY FOR A 30 DAY TRIAL PLEASE CLICK THE LINK BELOW


CASH DISCOUNT PROGRAM APPLICATION



* With Cash Discount, all of the prices a merchant lists in advertisements or in their store would be "cash prices."


* Then, we give signs to the merchant to display in their store explaining to customers that there will be a small service fee added to all credit transactions and to pay with cash to maximize their savings.


* If a customer still chooses to pay with a credit card, the service fee they pay can then be used to cover the merchant's processing fees for that transaction!


* Better yet, we can work with you and set either a flat service fee and/or a % so that the fees collected will cover a majority of your processing fees if not all of them. 



This program was designed to put the business first. To find out more information about the program and to see if you qualify, click the "Cash Discount Program" tab below for your online application. 


Contact Us

Drop us a line!

Better yet, see us in person!

We love our customers, so feel free to visit during normal business hours.

Eternal Global Wealth

24681 Northwestern Highway, Southfield, Michigan 48075, United States

855-953- LOAN (5626)

Hours

Mon

09:00 am – 10:00 pm

Tue

09:00 am – 10:00 pm

Wed

09:00 am – 10:00 pm

Thu

09:00 am – 10:00 pm

Fri

09:00 am – 08:00 pm

Sat

11:00 am – 04:00 pm

Sun

Closed

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