How Does a Cash Discount Program Work? A Step-by-Step Breakdown
Introduction
Thinking about adding a cash discount program to your business? You might be wondering exactly how it works in real-time. Here’s a step-by-step guide on what to expect when you set up this program.
Step-by-Step Process
- Setup: Install or update your point-of-sale system to include a cash discount feature.
- At Checkout: A small service fee is automatically applied to the purchase.
- Payment Choice: If the customer pays with cash, the service fee is removed, and they receive the lower price.
- Result: Credit and debit card users pay the standard price, which includes the fee to cover processing costs.
The process is transparent. Customers see that they’re getting a discount for using cash and paying the standard price with a card. This clear choice makes customers feel in control while helping your bottom line.
