Instore offers a feature called Cash Discount, allowing our merchants to share processing fees with their customers. Cash Discount is legal thanks to the Durbin Amendment, part of the 2010 Dodd-Frank Bill. Studies show that implementing Cash Discount has no negative effect on your business, and in fact 99.2% of customers don’t even notice it.
How Cash Discount works
- We add a service fee to every transaction
- 3.99% for average ticket above $15
- 60c for average ticket below $15
- Customers who pay by cash, check, or gift card receive an instant discount equal to the service fee, building loyalty
- Collected service fees cover your processing costs
- We can also deduct processing fees from tips before payout
To sign up for Cash Discount, you’ll need to modify your merchant services agreement to establish a flat rate that we’ll pass through to your customers. Call (855-568-3696 x1) or email sales@instoredoes.com for more info.
Still not convinced? Watch this video from our partner Clearent to learn more.
Requirements
- All fees and discounts must be clearly listed on receipts
- Advertise your Cash Discount program at point of sale
